USD 7.63 billion
Report ID: SQMIG35D2070 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 92 | Figures: 76
Orthobiologics Market size was valued at USD 7.63 billion in 2021 and is poised to grow from USD 8.56 billion in 2022 to USD 12.33 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).
The rise in the frequency of sports injuries and traffic accidents are two important factors anticipated to propel the growth of the orthobiologics market during the forecast period. It is projected that the market for orthobiologics would grow as a result of the rise in spinal diseases and disorders. It is also predicted that the growing patient desire for minimally invasive procedures will restrain the expansion of the orthobiologics market. However, the rise in the price of orthobiologics-based treatments may restrain the market's expansion throughout the forecast period. The market for orthobiologics is expanding at an accelerated rate due to the rise in the elderly and obese population.
Regenerative cellular therapies are another name for orthobiologics. Orthobiologic products contain growth factors that improve and stimulate discomfort, promote tissue healing, and aid in restoring normal function.
US Orthobiologics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 7.63 billion
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The Global Orthobiologics Market is segmented based on Product, Application, End-use and Region. Based on the Product, the Global Orthobiologics Market is segmented into Demineralized Bone Matrix (DBM), Allograft, Bone Morphogenetic Protein (BMP), Viscosupplementation, Synthetic Bone Substitutes & Stem Cell Therapy. Based on the Application, the Global Orthobiologics Market is segmented into Spinal Fusion, Trauma Repair, Maxillofacial & Dental & Reconstructive Surgery. Based on End-Use, it is segmented into Hospitals, Ambulatory Surgical Centers & Orthopedic Clinics. Based on Region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Orthobiologics Market Analysis by Product
Viscosupplementation commanded the lion's share of the orthobiologics market in the product segment in 2015. The significant proportion is related to the widespread availability and extraordinary adoption of these medicines in conditions including osteoarthritis and hip degenerative joint degeneration. The advantages of viscosupplementation are thought to be the cause of the high adoption rate. These advantages include improved knee mobility, pain relief, reduced invasiveness, and fewer adverse effects. It is also assumed that this is due to the great demand for minimally invasive surgical treatments and the high acceptability of these techniques by the patient population.
Orthobiologics Market Analysis by Application
Over 50.0% of the application segment's market share was accounted for by spinal fusion. Demineralized bone matrices, bone morphogenetic proteins, autografts, and allografts have consistently gained a dominant share in spinal fusion surgery due to their capacity to deliver high bone stability and quick bone healing while alleviating long-term spinal diseases. A bigger proportion in the application segment is thought to be the result of other advantages of orthobiological products in spinal fusion, such as quick activation of cells to commence bone growth and reduced hospital stay time and visits. The significant market shares that orthobiologics has gained is also seen to be a result of the existence of third-party insurers and the availability of reimbursement for fusion augmentation devices, which has led to growth.
Orthobiologics Market Analysis by End Use
The end-use segment was dominated by hospitals. One important element contributing to the market share dominance is the growing use of orthobiological products in a variety of spinal and reconstructive procedures carried out in hospitals. In addition, it is projected that hospitals' easy access to a large variety of orthobiologics and their specialized patient care will contribute to the segment's expansion.
Additionally, frequent readmissions, significant patient turnover, and high procedure volumes all contributed to the category share. Additionally, the supportive infrastructure makes precise operating procedures possible, which is expected to significantly increase the growth potential.
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Orthopedic Surgery in outpatient settings is increasing, favoring the North American Market. North America's market is estimated to rule the industry for the entire forecast year. The market in North America may see growth between 2019 and 2026 as a result of the business strategies of top American manufacturers, benevolent reimbursement policies, rising prevalence of degenerative bone diseases, and rising trend of orthopaedic procedures in outpatient settings. Due to the recent marketing approval for Cingal, a viscosupplement, in Europe, Europe is anticipated to be the second most lucrative region with a sizable market share..
Due to the rising demand for viscosupplements in India and the growing number of independent orthopaedic clinics, Asia Pacific is anticipated to have the highest CAGR throughout the projection period. Due to the increased need for the treatment of sports injuries and a rise in government initiatives to raise awareness of orthobiologics, Latin America and the Middle East & Africa are anticipated to have a significant market potential during the projection period.
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Orthobiologics Market Driver
Viscosupplements are in high demand to support the market.
Increase in incidences of disease and disorders
Orthobiologics Market Restraints
Patient’s preference of treatment over invasive procedures.
Surging prices for orthobiologics-based treatments.
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Medtronic has become the market leader because of the excellent introduction and quick uptake of infuse bone morphogenetic protein. Medtronic is anticipated to hold the largest share during the forecast period due to infuse's higher price, strong sales team, and April 2018 FDA clearance for use in a new indication for spine surgery. Musculoskeletal Transplant Foundation, Zimmer Biomet, Wright Medical Group N.V., DePuy Synthes (Johnson & Johnson Services, Inc.), Stryker, Sea Spine, Bioventus, RTI Surgical Holdings, Inc. and Anika Therapeutics, Inc. are additional companies that compete on the international market.
Orthobiologics Market Top Player's Company Profiles
Orthobiologics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Orthobiologics Market Analysis, the major segment of the global orthobiologics market, viscosupplements segment is projected to expand in forecasted period owing to high product costs, new manufacturer entrants, and recent marketing approvals. Furthermore, increased incidence of diseases and disorders like spinal diseases and traffic accidents will also increase the demand of the market in the forecasted area.
|Market size value in 2021||USD 7.63 billion|
|Market size value in 2030||USD 12.33 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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MARKET DYNAMICS & OUTLOOK
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For the Global Orthobiologics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Orthobiologics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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