Newark, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the orthobiologics market will grow to USD 6.62 billion in 2022 and reach USD 11.79 billion by 2032. In just ten years, the increasing prevalence of orthopaedic disorders like spinal disorders, osteoarthritis, and osteoporosis, the rising number of orthopaedic procedures, and the increasing adoption of orthobiologics in combination with other therapy modalities are the driving factors of the market growth. Furthermore, the growing ageing population, obesity rate, & high rate of musculoskeletal illnesses, and the increasing preference for nominally invasive procedures are also helping to boost the market growth.
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Key Insight of the Orthobiologics Market
North America to account for the largest market size during the forecast period.
North America is expected to have the largest market share in orthobiologics. Key factors favouring the growth of the orthobiologics market in North America include the prevalence of prominent players who facilitate quality care & regularly update strategies for product development. Further, the increasing healthcare spending, disposable income, and physician awareness levels about the benefits of these products are also helping to stimulate market growth in this region. Moreover, an increase in physician consciousness levels, along with the rise in the elderly population, are expected to drive market growth in this region.
The spinal fusion segment is expected to augment the orthobiologics market during the forecast period.
The application segment is divided into trauma repair, spinal fusion, maxillofacial and dental applications, osteoarthritis and degenerative arthritis, soft tissue injuries, and reconstructive surgery. The spinal fusion segment held the largest market share in 2022 and is expected to continue during the forecast period due to the increasing number of road accidents and surgical procedure advancements.
The viscosupplementation segment market size was USD 1.73 billion in 2022
The product segment is divided into bone morphogenetic protein (BMP), demineralized bone matrix (DBM), viscosupplementation, allograft, stem cell therapy, synthetic bone substitutes, and others. The viscosupplementation segment market size was USD 1.73 billion in 2022 due to the rising demand for non-surgical therapies for osteoarthritis, the prevalence of lifestyle-induced diseases, and advancements in the development of hyaluronic acid-based treatments.
The orthopaedic clinic's segment is anticipated to dominate the market by 35.08% in 2032.
The end-user segment is divided into orthopaedic clinics, research and academic institutes, ambulatory care centres, hospitals, and others. The orthopaedic clinic's segment is anticipated to dominate the market in the forthcoming years due to the specialized patient care and easy availability of a broad range of orthobiologics in hospitals.
Advancement in market
For example, in February 2021, the FITBONE Intramedullary System for Limb Lengthening and Hip and Shin Deformity Correction was officially launched in Europe and the United States, according to Orthofix Medical Inc., a global medical device company that provides restorative and regenerative care. Orthopedic and spine solutions for doctors.
For example, in March 2022, the orthobiologics partnership between MTF Biologics and Orthofix Scientific, Inc. become expanded. The arrangement consists of a spread settlement for the development of a demineralized bone matrix (DBM), which Orthofix will market underneath the Legacy logo call, and extends Orthofix's one-of-a-kind advertising rights to the Trinity allograft line till 2032.
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Market Dynamics
Driver: The growing demand for minimally invasive procedures:
The increasing demand for minimally invasive methods is the driving factor of the market growth. Further, the rising number of patients seeking treatments for musculoskeletal diseases and injuries and the rising number of orthopedic methods are also helping to boost the market growth. Further, the increasing number of orthopedic surgeries, including spinal surgeries and joint replacements, propels market growth. Moreover, the growing adoption of inorganic growth strategies by key participants in the market, such as acquisitions, is propelling market growth.
Restraint: The increase in the cost of orthobiologics-based treatments:
The increase in the cost of orthobiologics-based therapies is restraining the market growth. Moreover, the regulatory issues and lack of awareness about viscosupplementation also hamper the market growth.
Opportunity: The increasing prevalence of orthopedic disorders:
The high incidence of orthopaedic diseases, like degenerative bone disease, the increasing ageing population and the rising number of road accidents are helping to boost the market growth. Moreover, the high prevalence of orthopaedic conditions and the adoption of advanced therapy procedures are expected to drive market growth. Additionally, due to the presence of well-developed healthcare infrastructure, reimbursement coverage, and industry giants, the high demand for advanced healthcare services is expected to drive market growth. However, the increasing number of joint reconstruction surgeries, the growing burden of orthopedic diseases, trauma, and accident cases, and the development of bioabsorbable & titanium implants are helping to boost the market growth.
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Some of the major players operating in the orthobiologics market are:
• Medtronic
• Bone Biologics Corp
• Pioneer Surgical Technology
• Bioventus LLC
• DePuy Synthes, Inc.
• Stryker Corporation
• Smith & Nephew plc.
• Wright Medical Technology
• Globus Medical
• Osiris Therapeutics, Inc.
• Genzyme
• Anthrex
• Zimmer Biomet
• Orthofix, Inc.
• NuVasive, Inc
Key Segments cover in the market:
By Application:
• Trauma Repair
• Spinal Fusion
• Maxillofacial and Dental Applications
• Osteoarthritis and Degenerative Arthritis
• Soft Tissue Injuries
• Reconstructive Surgery
By Product:
• Bone Morphogenetic Protein (BMP)
• Demineralized Bone Matrix (DBM)
• Viscosupplementation
• Allograft
• Stem Cell Therapy
• Synthetic Bone Substitutes
• Others
By End User:
• Orthopedic Clinics
• Research and Academic Institutes
• Ambulatory Care Centers
• Hospitals
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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