New York, USA, June 14, 2023 (GLOBE NEWSWIRE) -- Orthobiologics Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Orthobiologics Market Information By Product, Application, End User And By Region – Market Forecast Till 2030”, the market is projected to grow from USD 8.04 Billion in 2023 to USD 12.2 billion by 2030, exhibiting a CAGR of 7.2% during the forecast period (2023 - 2030).
Market Scope:
The increase in the rate of sports injuries across the globe, the continuous influx of new products and treatment options, technological advancements in synthetic biology, and the rise in demand for minimally invasive surgeries are the key market drivers boosting the orthobiologics market growth. The term "orthopedics" also refers to regenerative cellular therapy. Orthobiologic products often include growth factors or even produce them to promote tissue healing, reduce pain, and aid in regaining normal function. The market is filled with several kinds of orthobiologics that use distinct mechanisms of action.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 12.2 Billion |
| CAGR | 7.2% |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Applications and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rising prevalence of orthopedic disorders, combined with an aging population, drives the market growth |
| Increasing demand for minimally invasive surgeries |
Orthobiologics Market Competitive Outlook
Key Companies in the market include
- Arthrex Inc
- Exactech Inc
- Globus Medical Inc
- Integra LifeSciences
- Johnson & Johnson
- Medline Industries Inc
- NuVasive Inc
- Stryker Corporation
- Wright Medical Group N.V.
- Zimmer Biomet
Orthobiologics Market Trends
Market Drivers
The main factors propelling the growth of the orthobiologics market are the rise in sports injuries around the world, the constant infusion of new products and treatment alternatives, technical developments in synthetic biology, and the rise in demand for minimally invasive operations. Over the previous ten years, orthopedic diseases have become more common. The body's equilibrium can be significantly impacted by unhealthful eating patterns and insufficient exercise. As a result of this issue, most people in the 60+ age range are more vulnerable to orthopedic disorders like arthritis as they become older. Osteoarthritis in this age group can cause tension on the lower back, hips, and knees, as well as joint pain. Due to improved healthcare standards and more cutting-edge treatment options that have boosted life expectancy, the population of this age group has grown even more. The prevalence of orthopedic problems has increased the necessity for orthobiologics to treat or bind joint diseases. As a result, the need for orthobiologics will rise due to the rise in orthopedic disorders, propelling the growth of the orthobiologics market.
Market Limitations
However, the costlier orthobiologics and the strict approval process are the main barriers to the market's expansion.
COVID-19 Analysis:
The global orthobiologics market was negatively impacted by the COVID-19 pandemic. Following orthopedic surgeries, organ donation, and transplantation, the rate of infection gradually rose. Additionally, allograft bone from COVID-19-negative donors was cryopreserved as transplantable tissues while living donors underwent pre-operative screening by PCR. Asymptomatic patients can transfer the virus, and this method may have aided in the spread of COVID-19.
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Orthobiologics Market Segmentation:
Product Insights
In 2022, the bone morphogenetic protein market segment retained the lion's share, accounting for 65–67% of the total revenue generated by the orthobiologics market. This problem is mostly brought on by the rise in osteoarthritis and degenerative knee arthritis, especially in the elderly population. Changes aid the segment's expansion in reimbursement regulations for supplements containing bone morphogenetic protein.
Application Insights
The market's leader in 2022 was the spinal fusion sector, and it is anticipated that this segment will grow at the fastest rate from 2022 to 2030. The benefits of orthobiological goods in spinal fusion, such as quick cell stimulation to start bone production, shorter hospital stays, and fewer hospital visits, are thought to be behind the application segment's growth in share.
End User Insights
Hospitals dominated the market in 2022, and they are expected to increase at the fastest rate between 2022 and 2030. The expanding usage of orthobiological products in various spinal and reconstructive procedures performed in hospitals is the main driver driving the majority of the market's shares. Segmental expansion is also fueled by an increase in hospitals in both developed and emerging countries, as well as a rise in the frequency of spine illnesses and bone joint difficulties.
Orthobiologics Market Regional Analysis:
The North American orthobiologics market is anticipated to rise at a substantial CAGR. The market share of orthobiologics in this region is a result of numerous important companies encouraging better care and creating innovative product development methods. Additionally, a sizable portion of the regional contribution is contributed by reimbursement for products that promote soft tissue healing and fusion. Additionally, the huge patient base in North America is anticipated to support market expansion by necessitating orthobiologics products to treat bone voids and other bone abnormalities.
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The second-largest market share belongs to the European orthobiologics market. In the upcoming years, demand for orthobiologics is anticipated to be driven by European market companies' intensive focus on R&D expenditures and research activities, advantageous health reimbursement for bone grafting procedures, and the sharply rising frequency of spinal injuries. Additionally, the UK market of orthobiologics was expanding at the quickest rate in the European region, while the German orthobiologics market had the biggest market share.
From 2022 to 2030, the Asia-Pacific market of orthobiologics is predicted to experience the quickest CAGR growth. The Asia Pacific region's expanding market of orthobiologics can be largely attributed to rising healthcare spending, rising disposable income, and raised physician awareness of these products' benefits. There are chances for major players to invest as the Asia Pacific area grows. In this region, the market of orthobiologics is expanding tremendously and the healthcare infrastructure is getting better. Along with more product launches in this region, there is also more competition among the major players, which has greatly aided the region's leadership in the expansion of the orthobiologics sector. Additionally, the Indian market of orthobiologics had the quickest rate of growth in the Asia-Pacific region, while China's market of orthobiologics had the greatest market share.
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