Orthobiologics Market Size, Trends and Growth Analysis by Product (Demineralized Bone Matrix, Bone Morphogenetic Protein), Application (Osteoarthritis & Degenerative Arthritis, Spinal Fusion), End User (Hospitals, Orthopedic Clinics), Global Forecast to 2024
Orthobiologics Market Overview:
The global Orthobiologics market size valued USD 4,964 million in 2019 and from there, the market is expected to garner a CAGR of 5.6% during the forecast period of 2020 to 2025. Market Research Future (MRFR), in its attempt to dig deep into the market, revealed several factors that can have a lasting impact on global growth.
Among the major factors driving the global orthobiologics market ahead, the rising demand for minimally-invasive procedures, increasing cases of trauma and accidents that lead to procedures where orthobiologics are needed, rising technological inclusion, hike in investment for research and development, cases of obesity and geriatric population, and others are expected to boost the market prospect. A better state of disposable incomes can also inspire the growth of Orthobiologics market.
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However, there are problems related to reimbursement policies owing to which the market may find the growth a bit restricting in the coming years. The recent COVID-19 pandemic may also restraint orthobiologics market growth to some extent.
Orthobiologics Market Segmentation:
The global orthobiologics market has been studied on the basis of a segmentation made by MRFR experts. The segmentation includes product, application, and end-user and they have been enriched by figures, charts, graphs, and others.
By product, the global orthobiologics market has been segmented into bone morphogenetic protein (BPM), synthetic bone substitutes, demineralized bone matrix (DBM), viscosupplementation products, allograft, and others.
By application, the global orthobiologics market study has been segmented on the basis of an understanding of segments like spinal fusion, soft tissue injuries, fracture recovery, osteoarthritis & degenerative arthritis, and others. The spinal fusion segment was the dominant sector in 2018 as it was getting traction from spinal injuries from sports-related accidents, traumatic injuries, and accidents.
By end user, the global orthobiologics market report includes a proper study of segments like hospitals, orthopedic clinics, and others.
Orthobiologics Market Regional Outlook:
The global orthobiologics market will gain substantially from the American market as most of the major players are from this region. The regional market is also slated to benefit from the presence of the US and Canada, where the investment for such products is substantially high. Structural advantage will also help the regional market in including the latest innovations into the mainframe without making much fuss.
Orthobiologics Market Competitive Landscape:
Globus Medical Inc., Arthrex, Inc., Exactech, Inc., Johnson & Johnson, Wright Medical Group N.V., Zimmer Biomet, Medline Industries, Inc., Integra LifeSciences, Stryker Corporation, NuVasive, Inc., and others are some of the prominent names in the orthobiologics market. These companies are known for their substantial strategic involvement in taking the global orthobiologics market forward. Mostly, these companies rely on methods like innovation, better investment in research and development, merger, tie-up, branding, launching, acquisition, and others. MRFR recorded their moves to understand more about trends that can impact the global orthobiologics market.
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Orthobiologics Industry News:
VIVEX Biologics, Inc., a company known for its performance in the field of regenerative medicine company with a specialization in the development of naturally sourced treatment options, revealed their results for the VAST study that wen through a 12-month trial to evaluate VIA Disc®, a non-surgical, injectable intradiscal treatment option for patients who have been affected by degenerative disc disease (DDD). They are yet to receive the acceptance report.
Bioventus, an eminent company in the field of orthobiologic solutions, has announced that it would launch its SIGNAFUSE Bioactive Bone Graft in a new strip format. It will include 55% bioglass by weight and it can induce higher levels of osteoblast differentiation in comparison to other synthetic bone graft strips.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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