According to Vision Research Reports, the Orthobiologics market size is expected to hit around US$ 20.2 billion by 2030 and is predicted to grow at a CAGR of 17.5% from 2021 to 2030.
According to Vision Research Reports, the Orthobiologics market size is expected to hit around US$ 20.2 billion by 2030 and is predicted to grow at a CAGR of 17.5% from 2021 to 2030.
Growth Factors
The orthobiologics industry trends are predominantly driven by the increasing orthopedic disease and musculoskeletal disease burden globally. Moreover, emerging technological innovations in biomaterials, used in the production of orthobiologics are presumed to accelerate the market demand over the forecast period and will help grow the competition among the key players, particularly in U.S. These predominantly include modifications in graft designs, advent of recombinant biologic agents, stem cell therapy and cultured tissue scaffolds.
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These advancements are accompanied with the benefits such as enhanced biocompatibility, reduced surgical time and smaller incisions. Furthermore, these novel solutions are presumed to efficiently reduce the recurrence of post-operative complications, which in turn is expected to boost the orthobiologics device market during the forecast period.
Report Highlights
In the product segment, viscosupplementation held the dominant share of orthobiologics market in 2020. The substantial share is attributed to the high adoption of these products as a consequence of wide range availability and unprecedented adoption in diseases such as osteoarthritis, hip degenerative joint disease.
The high adoption rate is presumed to be a consequence of the benefits associated with viscosupplementation. These benefits include better knee movement, pain reduction, less-invasive, and fewer side effects. It is also presumed to be a result of high demand for minimally invasive operative procedures leading to high acceptance by the patient population base.
spinal fusion accounted for a majority share of over 50.0% in the application segment. The dominant share can be attributed to the consistent penetration of demineralized bone matrices, bone morphogenetic proteins, autografts and allografts in spinal fusion surgeries owing to its ability to provide high bone stability and rapid bone healing thereby improving long-term spinal disorders.
Other benefits of orthobiological products in spinal fusion, such as rapid stimulation of cells to initiate bone formation, reduced hospital stay duration, and visits, are believed to be responsible for garnering a larger share in the application segment. The substantial share attained by orthobiologics is also believed to be a consequence of the presence of third-party insurers and reimbursement available for fusion enhancement products thus triggering growth.
hospitals held a dominant share in the end-use segment. Increasing adoption of orthobiological products in a wide range of spinal and reconstructive surgeries performed in hospitals is a key factor attributed to the segment share dominance. Moreover, specialized patient care and easy availability of a wide range of orthobiologics in hospitals are anticipated to be a segment growth factor.
In addition, high patient turnaround, frequent readmissions, and large procedure volumes contributed toward the segment share. Moreover, the supportive infrastructure facilitates accurate operative procedures, which is further anticipated to raise the growth potential.
North America held a substantial share of the global market in 2020. The share acquired by this region can be attributed to the presence of the majority of the prominent players involved in promoting quality care and undertaking new product development strategies. In addition, reimbursement policies available for soft tissue healing and fusion enhancement products are also significantly contributing toward the regional share.
The Asia Pacific regional space is expected to grow at an exponential rate throughout the forecast period. This growth is mainly due to the rising healthcare spending and disposable income and physician awareness levels pertaining to the benefits of these products.
In addition, the heightening quality of healthcare infrastructure is further anticipated to present the market with lucrative growth opportunities across this region. Moreover, increasing product launch across this region aside from growing competition among the key industry players is also one of the significant factors contributing toward the growth.
For instance, in January 2020, Bioventus launched DUROLANE, hyaluronic acid-based single-injection for joint-fluid osteoarthritis treatment, in Taiwan. This product launch led to a greater geographical presence of the company and also fueled the product penetration of orthobiological products in Asia Pacific region.
Key Players
Bone Biologics, Corp.; Medtronic; Bioventus LLC; Pioneer Surgical Technology; Smith & Nephew plc; Stryker Corporation; DePuySynthes, Inc.; Genzyme; Osiris Therapeutics, Inc.; Globus Medical; Wright Medical Technology; Orthofix, Inc.; NuVasive, Inc.; Zimmer Biomet; Anthrex
Market Segmentation
- Global Orthobiologics Product Outlook
- Demineralized Bone Matrix(DBM)
- Allograft
- Bone Morphogenetic Protein (BMP)
- Viscosupplementation
- Synthetic Bone Substitutes
- Stem Cell Therapy
- Global Orthobiologics Application Outlook
- Spinal Fusion
- Trauma Repair
- Reconstructive Surgery
- Global Orthobiologics End-use Outlook
- Hospitals
- Orthopedic Clinics
- Orthobiologics Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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