New York, United States , Nov. 08, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Global Orthopedic Regenerative Medicine Market size to grow from USD 4.2 billion in 2021 to USD 5.9 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 4% during the forecast period. The orthopedic regenerative medicine market has grown due to increasing technological advancements, the prevalence of arthritis, and the rise in orthopedic surgeries. In addition, there is an increase in R&D activities which is expected to provide growth opportunities for the market during the forecast period.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The viscosupplements segment accounts for the largest market size during the forecast period
Based on the product, the global orthopedic regenerative medicine market is categorized into Allograft, Cell-based, and Viscosupplements. The viscosupplements segment accounts for the largest market size during the forecast period. This rise can be explained by the fact that more and more people are getting knee pain and osteoarthritis. Knee osteoarthritis can also be caused by age, obesity, too much activity, an injury, or a genetic predisposition. Because of this, it is likely that the market for orthopedic regenerative medicine will continue to grow. In Taiwan, an intra-articular viscosupplement single injection called HyLink will be available in August 2021 to treat knee osteoarthritis. This news came from the Seikagaku Corporation.
The joint reconstruction segment to hold a higher CAGR during the forecast period
Based on application, the orthopedic regenerative medicine market is categorized into Orthopedic Pain Management, Trauma Repair, Cartilage & Tendon Repair, Joint Reconstruction, and Others. The joint reconstruction segment to hold a higher CAGR during the forecast period. The main things that contribute to this segment are the rise in surgical procedures, the use of regenerative methods in joint repair, and technical advances. For example, Amniox Medical, Inc. has a line of surgical allografts called Clarix. These can be used in orthopedic surgery for trauma and reconstruction, arthroplasty, and soft-tissue repair.
Browse key industry insights spread across 200 pages with 135 market data tables and figures & charts from the report “Global Orthopedic Regenerative Medicine Market Size, Share, and COVID-19 Impact Analysis, By Product (Allograft, Cell-based, and Viscosupplements), By Application (Orthopedic Pain Management, Trauma Repair, Cartilage & Tendon Repair, Joint Reconstruction, and Others), By End User (Hospitals, Ambulatory Surgical Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030 ” in detail along with the table of contents.
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The hospitals segment to hold a higher CAGR during the forecast period
Based on end-User, the orthopedic regenerative medicine market is categorized into Hospitals, Ambulatory Surgical Centers, and Others. The hospitals segment to hold higher CAGR during the forecast period. The healthcare industry is increasing due to the rise in research and new product development. In addition, the huge share of this segment is because of the rise in orthopedic treatments in hospitals. For example, the Gelenk Klinik in Germany is an orthopedic hospital that does more than 2400 surgeries and treats more than 24,000 orthopedic patients every year.
North America is estimated to account for the highest market share in 2021
The Global orthopedic regenerative medicine market has been segmented into five major regions: Asia-Pacific, Europe, APAC, Latin America, and MEA. This can be explained by the fact that the United States and Canada have a lot of important key players, an aging population, and high-tech healthcare facilities. Statistics Canada says that about 6.8 million people in the country were 65 or older in July 2020, while the median age was 40.9. Due to the growing number of older people and the high number of people with long-term orthopedic problems, this region is dominating. Asia-Pacific to hold a higher CAGR during the forecast period.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Companies Covered: Abbott Laboratories, Baxter, Manus Aktteva Biopharma LLP, Piramal Pharma Solutions, Lunan Pharmaceutical Group, Wellona Pharma, Troikaa Pharmaceuticals Limited, Maruishi Pharmaceutical Co., Ltd., Abbvie, Rewine Pharmaceutical and Others 35+ Prominent Key Players.
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