The global orthobiologics market is primarily driven by an increase in the world’s elderly population and behavior modification, as well as a heightened concern over sports and outdoor exercises among both the older and younger generations.
By the end of 2027, the global orthobiologics market is expected to be worth US$ 8,708.4 million.
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During the forecast period, the global orthobiologics market is anticipated to rise due to the increasing incidence of chronic arthritis. According to a May 2019 study from the Centers for Disease Control and Prevention (CDC), an estimated 54.4 million US adults have been diagnosed with arthritis, accounting for roughly one out of every four individuals in the country.
Furthermore, the global orthobiologics market is projected to increase as the elderly population grows. The elderly populace in the U.S. is anticipated to reach 77 million by 2034, as per the United States Census Bureau.
In terms of volume, North America dominated the global orthobiologics market in 2019, contributing for 45.4 percent of the market, trailed by Europe and Asia Pacific, accordingly.
The global orthobiologics market is projected to be hampered by the scarcity of compensation. According to the American Association of Orthopedic Surgeons, Medicare cuts have impacted orthopedic payments. Furthermore, the global orthobiologics market’s expansion is poised to be limited by strict regulatory regulations.
For participants in the global orthobiologics market, the increase in cell-based matrices is projected to provide attractive development possibilities. In the years ahead, increasing interest in biologic medicines such as platelet rich plasma and stem cell treatment is projected to have substantial promise. Tissue engineered bones have the potential to reduce demand caused by the paucity of allografts for bone transplants.
The market is projected to expand as more people use platelet rich plasma, autologous primed serum, bone marrow aspirate concentration, and adipose derived stromal cell treatment.
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The global orthobiologics market was worth US$ 5,519.9 million in 2019 and is expected to reach US$ 8,708 million by 2027, growing at a CAGR of 5.9 percent during 2020 and 2027.
The global orthobiologics market is projected to expand due to the higher frequencies of sports-related wounds. Children aged 0–19 years contributed for 47.4 percent of sports injury-related emergency department crowd numbers and around 23.5 percent of sports injury-related emergency department attendances, according to the study ‘Results on sports-related injuries in children from NHS emergency care dataset Oxfordshire pilot: an ecological study’ published in November 2018.
The price of orthobiologics is fluctuating in the global orthobiologics market. A research published in Sports Health in October 2019 by the University of Alabama at Birmingham found substantial cost diversity in orthobiologics treatments, spanning from a few hundred dollars to as high as US$ 12,000 in some cases.
Key companies contributing in the global orthobiologics market are Bacterin International, Inc., Alphatec Spine, Inc., Genzyme, Stryker Corporation, Smith & Nephew plc, NuVasive, Inc., Harvest Technologies Corporation, Bone Biologics Corp, Zimmer Biomet Holdings, Inc., Ortho Regenerative Technologies Inc., SeaSpine Holdings Corporation, Orthofix Holdings, Inc., Medtronic, Plc, Integra LifeSciences Corporation, Globus Medical, Inc., Exactech, Inc., and DePuy Synthes, Inc.
To increase their product portfolio, major players in the global orthobiologics market are focusing on getting new products approved and launched. Ortho Regenerative Technologies Inc. reported in August 2020 that Ortho-R, a Chitosan-based matrix biopolymer blended with platelet rich serum, has been chosen by the FDA Desk for Combination Products as a Drug/Biologic combination product.
Likewise, SeaSpine Holdings Corporation announced the complete commercial introduction of Mariner MIS and Mariner Outrigger, devices intended to improve operative circulation in revisions of prior fusions, in June 2020.
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Current and future of global Orthobiologics market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
Regions/countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
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Global Orthobiologics Market Research Report
Section 1: Global Orthobiologics Industry Overview
Section 2: Global Economic Impact on Orthobiologics Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Orthobiologics Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy, and Downstream Buyers
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