Orthobiologics Market  to rise to USD 5.31 billion by the end of 2030

 

The Global Orthobiologics Market size is estimated to be USD 5.31 billion in 2019 and is predicted to reach USD 9.27 billion by 2030 with a CAGR of 5.2% from 2020-2030. Orthobiologics is the biological substance that exists in the human body and accelerates the healing process. Orthobiologics is used to heal the fractures, injured muscles, ligaments, tendons and others and helps in the restoration of normal functioning. The biological substance is derived from the patient’s body under the certain conditions and then precursor is formed which is later used in the treatment. Orthobiologics are also known as regenerative cellular therapies.  

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There has been rapid development in the healthcare infrastructure coupled with increase in disposable income in the developing economies are expected to contribute the growth of the market. Furthermore, increased prevalence of osteoarthritis and other injuries are further expected to augment the growth of orthobiologics market.

 

The other factors include increase in road accidents, trauma cases, increase in sports activities are accelerating the demand for orthobiologics over the forecast period. Furthermore, increased awareness about orthobiologics and increase in geriatric population susceptible to such injuries are expected to promote the growth of orthobiologics market. However, high cost of orthobiologics is expected to impede the growth of orthobiologics market. The increase in research and development activities are expected create ample opportunities in the market in near future.

 

Market Segmentations and Scope of the Study:

 

The global orthobiologics market share is analyzed on the basis of product type, application, end user, and geography. On the basis of product type, the market is segmented into viscosupplementation products, demineralized bone matrices, synthetic orthobiologics, bone morphogenic protein, allografts, plasma-rich protein, and bone marrow aspirate concentrate. On the basis of application, the market is divided into osteoarthritis and degenerative arthritis, spinal fusion, soft-tissue injuries, fracture recovery, maxillofacial and dental applications. On the basis of end user, the market is fragmented into Hospital, Ambulatory Surgical center, orthopedic clinics and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

 

Geographical Analysis

 

North America represents the major market share due to the increased adoption of orthobiologics. Furthermore, developed healthcare infrastructure, increased prevalence of osteoarthritis, and high disposable income are expected to be the major factors supporting the growth of orthobiologics market.

 

Asia Pacific is expected to develop rapidly due to the presence of developing economies and maintain its dominance over the forecast period. Moreover, increase prevalence of orthopedic disorders, increase in sports activities, accidents and trauma cases coupled with increase in disposable and rapidly evolving healthcare facilities are expected to be the major factors for the growth of orthobiologics market.

 

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The orthobiologics market, which is highly competitive, consists of a few major players. Companies, such as Stryker, Zimmer Biomet, Sanofi, Medtronic, and Seaspine Holdings Corporation, hold a substantial market share in the orthobiologics market. Other players analyzed in this report are DePuy Synthes (Johnson & Johnson), MTF Biologics Inc., Exactech, Bioventus LLC, Arthrex, Globus Medical, Inc., RTI Surgical, Inc., Seikagaku Corporation, Alphatec Spine, Inc., and Integra LifeSciences among others.

 

There has been various development taken place in the orthobiologics market. For instance, in September 2018, Synergy Biomedical, LLC, has received FDA 510(k) clearance of BIOSPHERE FLEX. Based on Synergy’s patented BioSphere Technology, BIOSPHERE FLEX is a strip-format bone graft product composed of porous, bioactive glass that is dimensionally integrated within a collagen and sodium hyaluronate scaffold. The porosity of the BIOSPHERE FLEX bone graft was specifically designed for optimized absorption of bone marrow aspirate.

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  • john61
    published this page in Submit Content 2019-12-02 21:57:09 -0800

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