Orthobiologics Market: Product Launches by Key Players and Patent Approvals to Boost Market
Transparency Market Research (TMR) has published a new report titled, “Orthobiologics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026”. According to the report, the global orthobiologics market was valued at US$ 4.8 Bn in 2017 and is projected expand at a CAGR of 5.5% from 2018 to 2026. High prevalence of sports injuries and arthritis and rise in prevalence of trauma injuries are anticipated to augment the global market between 2018 and 2026.
Orthobiologics comprise tissue and bone replacement materials used to expedite healing and recovery of ligaments, tendons, muscles, and bones. Orthobiologics are integral part of orthopedic surgical procedures, as these assist in rapid recovery of joints, bones, and muscles post-surgical procedure and reduce healing time. Orthobiologics comprise products such as synthetic bone substitutes, bone cement, allografts, stem cells, and others. Rise in the global geriatric population increases the prevalence of chronic orthopedic diseases such as arthritis and osteoporosis. Moreover, increase in cases of sports injury and trauma is likely to propel the global orthobiologics market. However, orthobiologics is a new technology and in a nascent stage of adoption. Limited reimbursement support for orthobiologics such as stem cells and allografts is anticipated to restrain the global market. High cost of bone grafts creates difficulty in obtaining reimbursement. Additionally, extensive clinical studies for safety of bone healing products is a constraint for obtaining reimbursement for orthobiologics. Moreover, procedure developed from existing treatment, coding options, and lack of data to differentiate the products are the various reimbursement challenges. This hampers the growth of the global orthobiologics market.
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The report offers detailed segmentation of the global orthobiologics market based on product, application, and end-user. The market has also been segmented based on region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). Introduction of new orthobiologics which reduce the healing & recovery time and offer better biocompatibility with low or null adverse effects is likely to drive the global orthobiologics market. Orthobiologics are relatively new, hence reimbursement is less compared to other options.
Allografts Segment to Account for Leading Share and Witness Strong Growth
In terms of product, the viscosupplements segment accounted for leading share of the global market in 2017 and the trend is anticipated to continue during the forecast period. Moreover, increase in the number of regulatory approvals for allograft orthobiologics products is projected to contribute to the growth of the segment during the forecast period. High biocompatibility of allografts and better efficacy are expected to drive the uptake of these products from 2018 to 2026. The stem cell therapy segment is likely to expand at the second fastest CAGR during the forecast period. The segment is anticipated to gain market share from 2018 to 2026. Surge in the number of trauma cases is likely to boost the growth of the segment.
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Emerging Technologies in Orthobiologics to Propel Market
Emerging technologies in orthobiologics is projected to boost the growth of the global orthobiologics market during the forecast period. 3D printed implant technology helps reduce surgery time, provides better stability, and improves clinical outcome for orthopedic surgical procedures. SpineVision’s 3D laser printed HEXANIUM TLIF for spine surgery helps reduce risk of subsidence in disc height in the post-operative period. Tornier’s BioFiber Surgical Mesh is used in the treatment of rotator cuff and other tendon injuries. SeaSpine’s OsteoBallast is a resorbable mesh used in the treatment of spinal fusion. It helps to prevent graft migration and simplifies graft placement.
North America to be Most Lucrative Orthobiologics Market
North America has a large number of orthobiologics products approved for treatment of various orthopedic conditions. High adoption of advanced therapies in the treatment of orthopedic conditions and favorable reimbursement policies for orthobiologics contributed to North America’s leading market share. Large geriatric population, increase in incidence of trauma and injuries, and demand for quality health care are likely to contribute to the region’s leading share during the forecast period.
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Product Launches by Key Players and Patent Approvals to Boost Market
The report also provides profiles of leading players operating in the global orthobiologics market. These include Medtronic, DePuy Synthes (Johnson & Johnson), Sanofi, Seikagaku Corporation, Stryker, MTF Biologics, Bioventus, Artthrex, Zimmer Biomet, RTI Surgical, Inc., Alphatec Spine, Inc., Exactech, Inc., Globus Medical, Inc., and Integra LifeSciences. Launch of new products and focus on developing technologically advanced products by companies, and patent approvals are expected to drive the global market during the forecast period. In September 2018, NuVasive, Inc. launched a new product line for Propel DBM. To broaden the product line, the company provided Propel DBM gel and Propel DBM Putty with osteoconductive property which help to promote bone growth. In March 2018, Synergy Biomedical LLC received clearance from Therapeutic Goods Clearance (TGA) in Australia for BioSphere Putty, a synthetic bone graft product that helps bone healing.
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