New York, October 29, 2021 –The global orthobiologics market size is expected to reach USD 8.32 Billion in 2028 and register a CAGR of 5.1% over the forecast period, according to the latest report by Reports and Data. Steady revenue growth of the orthobiologics market can be attributed to rising number of aged and overweight people globally, leading to musculoskeletal diseases, and osteoarthritis.
Increasing number of regenerative and reconstructive surgical procedures are leading to higher demand for orthobiologics. These products are utilized during different surgical procedures to help speedy recuperating of muscular wounds, and are made from synthetic bone surrogates and growth stimulators.
Growing incidence of spinal disorders and increasing number of sports-related injuries and road accidents are key factors driving market growth
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Osteoarthritis is the most common reason of disability in adult people. Orthobiologics can be used for treatment, prevention, and early management of osteoarthritis. Orthobiologics treatment comprises of ozone therapy, platelet-rich plasma, prolotherapy, and others. Increasing incidence of osteoarthritis, and development of advanced products are expected to boost the market revenue growth.
However, factors that could hamper orthobiologics market revenue growth include no reimbursement policies in developing countries and high cost of orthobiologics products and treatment procedures. In addition, lack of awareness about availability of treatment, post-surgery complications, and challenges related to clinical trials could hamper the orthobiologics market revenue growth to some extent.
Some Key Highlights from the Report:
- By product type, synthetic orthobiologics segment revenue is expected to grow at significant CAGR over the forecast period. Synthetic orthobiologics are produced artificially and these provide structural support during the healing process. The use of synthetic orthobiologics has a positive success rate and they minimize risks associated with treatment, which in turn increases demand and drives revenue growth of the segment.
- By end use, orthopedic clinics segment revenue is expected grow at significant CAGR over the forecast period. Orthopedic surgeons analyze and treat wide range of musculoskeletal disorders. This incorporates bones and joints and structures related to them that empowers the proper movement of ligaments, tendons, muscles, and nerves. With rising demand of orthopedic surgeries, the requirement of orthobiologics products increases in the orthopedic clinics which is the major factor driving revene growth of the segment.
- Orthobiologics market revenue in Asia Pacific is expected to register the fastest revenue CAGR over the forecast period, due to increasing awareness of people and physicians about the benefits of orthobiologics. The APAC market has a large number of patients with knee injuries, degenerative arthritis, and a productive healthcare system, which in turn contribute towards market growth.
- In 2021, Orthofix Medical Inc., a global medical device company that focuses on providing reconstructive and regenerative orthopedic and spinal solutions to physicians, has announced the U.S. and European full market launch FITBONE intramedullary lengthening and deformity correction of femur and tibia bones.
- In 2021, DePuy Synthes (Subsidiary of Johnson & Johnson) has signed an agreement with Mountain View, California’s Expending Innovation Inc. for distributing Expanding Innovations’ X-Pac Expandable Lumbar Cage System in the U.S. DePuy Synthes is claiming that with help of this product they can offer comprehensive procedural solution for lumbar degenerative disc diseases and minimally invasive spine segments.
- Major players in the market include Arthrex, Bioventus, DePuy Synthes (Subsidiary of Johnson & Johnson), Globus Medical Inc., Orthofix, RTI Surgical, Sanofi-Genzyme, SeaSpine Holdings, Smith & Nephew, Stryker Corporation, Zimmer Biomet.
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For the purpose of this report, Reports and Data has segmented the global orthobiologics market based on product type, end use, application, and region:
Product Type Outlook (Revenue, USD billion; 2018-2028)
- Viscosupplementation Products
- Demineralized Bone Materials
- Synthetic Orthobiologics
- Bone Morphogenic
- Plasma-Rich Protein
- Bone Marrow Aspirate Concentrate
End Use (Revenue, USD billion; 2018-2028)
- Orthopedic Clinics
- Research & Academic Institutes
- Dental Clinic and Facilities
- Ambulatory Care Centers
Application Outlook (Revenue, USD billion; 2018-2028)
- Osteoarthritis and Degenerative Arthritis
- Spinal Fusion
- Soft-Tissue Injuries
- Fracture Recover and Reconstructive Surgery
- Maxillofacial and Dental Applications
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Regional Outlook (Revenue, USD billion; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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