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Orthobiologics Market to Touch US$ 8,708.4 Mn by 2027 at a 5.9% CAGR | Increasing Prevalence of Chronic Arthritis

September 22nd, 2021 Coherent Market Insights Releases

Overview

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.

Statistics

By the end of 2027, the global orthobiologics market is expected to be worth US$ 8,708.4 million.

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Drivers

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.

Statistics

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.

Restraints

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.

Opportunities

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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Statistics

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.

Key Takeaways

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.

Competitive Landscape

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.

Key Developments

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.

Reasons to Purchase this Report

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

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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