The
global orthobiologics market is expected to reach USD 8.90 billion by 2023 showing a CAGR of 7.5%, according to a new study available at DecisionDatabases.com. Orthobiologics are substances that are found naturally in the human body and are used by orthopaedic surgeons to heal injuries faster.
The major factors which are driving the global orthobiologics market are advancements in technologies, geriatric population, increase in life expectancy, existence of huge number of chronic diseases and government initiatives. The demand for orthobiologics market is further boosted by innovations in implant technologies, increasing rates of obesity, increase in road accidents & sports injuries, urbanization and shifting demand from mechanical to biological solutions. Moreover increase in investment funds to enhance orthobiologics during the estimated period is another trend which is anticipated to propel the growth of the orthobiologics market globally. However, investment in the research sector is being done by the vendors for developing a huge range of innovative products, strengthening their portfolio and successful commercialization of products. Such developments will lead to the growth of the orthobiologics market over the next six years.
The report sectioned the global orthobiologics market on the basis of product, application, and geography. Based on product, the global orthobiologics market can be classified into Stem-Cells, Synthetic Bone Substitutes, Allografts, Bone Morphogenetic Proteins (BMPS), Demineralised Bone Matrix (DBM), and Viscosupplementation. Of these, the greatest share of the orthobiologics market is anticipated to be hold by Viscosupplementation product segment owing to the huge demand for knee treatment surgeries. Bone Morphogenetic Proteins (BMPS) stood as the second largest product segment due to the plummeting sales of Medtronic’s INFUSE. Stem cell based product segment is estimated to be the strongest competitor in the orthobiologics market due to an inclination for stem-cell-based products among both medical practitioners and patients. Based on application, the global orthobiologics market can be classified into Spinal fusion surgery and Orthopaedic trauma and reconstruction surgery. Among these, Spinal fusion surgery is expected to occupy more than half of the market share for the orthobiologics market during the previous year.
Geographically, the global orthobiologics market can be segmented into regions such as North America, Europe, Asia Pacific, and Rest of the Word. Among all of these, Asia-Pacific is anticipated to witness the highest growth rate during the estimated period owing to the increasing number of sports injuries, rising geriatric population and increasing acceptance of a sedentary lifestyle. The biggest market for orthobiologics is dominated by North America and Europe due to the high prevalence of arthritis and obesity. As a result, a massive demand for minimal invasive procedures has been observed, which include bone grafting and growth factor treatments.
Some of the leading players for the global orthobiologics market are Genzyme, DePuy, Medtronic, Stryker, Zimmer, Biomet, Smith & Nephew, Synthes, K2M and Wright medical technology, Inc. Other players include Alphatec Spine, AlloSource, AMEDICA, Anika Therapeutics, Arthrex, Baxter, BBS-Bioactive Bone Substitutes Oy, Berkeley Advanced Biomaterial, Bioventus, Bone Therapeutics, Ceramisys, Geistlich Bio-Oss, Graftys, Integra Life Sciences, ISTO Technologies, Keramat, NovaBone, Orthogem Limited, Orthofix International, OsteoMed, RTI Surgical, Sigma Graft, Smith & Nephew, Straumann and Xtant Medical.
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