Pune, July 16, 2024 (GLOBE NEWSWIRE) -- Orthobiologics Market Size & Growth Analysis:
“According to SNS Insider research, The Orthobiologics Market size was valued at US$ 7.15 billion in 2023 & is anticipated to grow at US$ 11.59 billion by 2032 with compound annual growth rate (CAGR) of 5.55% over the forecast period 2024-2032.”
The role of advanced biotechnology products across musculoskeletal treatments has been changing radically and helping make orthobiologics market expand at scale. These innovations consist of but are not limited to growth factors, novel biomaterials, and stem cell therapy that afford modern day equivalent non-surgical solutions for patients who seek first line treatment in minimally invasive care with quicker healing potential outcomes.
An aging population that is more prone to osteoarthritis, combined with an increase in obesity and accident-related injuries has been driving the market for effective orthobiologic solutions. These have shown extraordinarily effect in the treatment of orthopaedic conditions as complex problems like bone fractures, lesions or degenerative bone diseases to chronic disease problems.
Swedish bone regeneration technology manufacturer OssDsign is reveling after securing a major sales boost through an updated three-year group purchasing agreement with Premier Inc. This partnership makes the OssDsign catalyst available to Premier's near 4,350 US hospitals and over 300,000 other healthcare providers at optimal price level. When it comes into force from July 2024, the agreement could increase patient access to OssDsign's technology in bone regeneration. Another key player, Kuros Biosciences introduced its family of MagnetOs products in early 2024 with the clearance pertains to MagnetOs Granules and Easypack Putty for interbody use, as well as on the basis of a different 510(k) submission filed last year, MagnesOs granules is when used alone or with autograft in posterolateral spine, the New Zealand Medicines and Medical Devices Safety Authority (Medsafe) granted regulatory approval for MagnetOs Granules as well as the recently launched novel putty format in December 2020.
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Major Players Analysis Listed in this Report are:
- Bone Biologics Corp.
- Medtronic PLC
- Anika Therapeutics, Inc.
- DePuy Synthes
- Arthrex, Inc.
- Zimmer Biomet
- Globus Medical
- Stryker Corporation
- Orthofix, Inc.
- Bioventus LLC
- Other Players
The expanding market may also lead to innovative product development such as antibiotic-eluting bone void fillers and stem cell -based allografts. With increasing approval of these new techniques and a greater body of clinical evidence for the role that orthobiologics can play to improve healing outcomes, orthobiologics market is expected grow considerably in the upcoming years.
Although the orthobiologics market continues to face challenges associated with high development costs and strict regulatory requirements, prospects in as a whole remains very optimistic. With the growing popularity and accessibility of these therapies, they are projected to help improve patient outcomes and revolutionize the orthopedic industry.
Orthobiologics Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | US$ 7.15 Bn |
| Market Size by 2032 | US$ 11.59 Bn |
| CAGR | CAGR of 5.55% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
Market Drivers
- Growth of geriatric population
- Growing obesity rates
- Increased pervasiveness of orthobiologics among the patients
- Bone diseases
- Rapid product innovation
Market Dynamics
- Alternative to surgery
- Promising treatment option
- Competition and market entry
- Regulatory environment
- Economic factors
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Market Trends
Orthobiologics market are witnessing dynamic expansion driven by an array of pivotal trends. Key players are launching novel products such as allograft, bone growth factors and synthetic bone substitutes moreover, an increasing need for antibiotic-eluting bone void fillers in the treatment of orthopedic conditions is also expected to drive market growth. In addition to those factors, significant developments in stem cell-based allografts are majorly driving the growth of this market. Such approval differences, like that of Locate Bio for LDGraft show the market momentum and potential efficacy to new treatments.
Market Segmentation Analysis
By Product
- Viscosupplementation: Products like hyaluronic acid injections used primarily for treating osteoarthritis.
By Application
- Spinal fusion: They are the most common measures performed for treatment of chronic back and neck pain related with degenerative disk disease, tumors, infections or instability.
By End User
- Hospitals: The primary consumers of orthobiologic products due to their advanced infrastructure and comprehensive services.
Orthobiologics Market Key Segmentation:
By Product
- Demineralized Bone Matrix
- Allograft
- Bone morphogenetic protein (BMP)
- Viscosupplementation
- Synthetic bone substitutes
- Stem cell therapy
By Application
- Spinal fusion
- Trauma repair
- Reconstructive surgery
By End-use
- Hospitals
- Outpatient Facilities
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Orthobiologics Market in North America
North America, with more than 46% share of the total market revenue for orthobiologics accounted as a leading region in global market. Moreover, the presence of state-of-the-art healthcare infrastructure and favorable regulatory scenarios as well as heavy investments made in R&D has boosted regional market growth. The aging population, which is not only often growing rapidly but accompanied by higher levels of healthcare expenditure than we have seen in other regions.
The area is also a pioneer in orthobiologic with ongoing research and development resulting in advanced product offerings. An example is a large grant awarded in 2021 to Dr. Scott A. Rodeo for studying an injectable biologic for knees.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Orthobiologics Market Segmentation, By Product
8. Orthobiologics Market Segmentation, By Application
9. Orthobiologics Market Segmentation, By End-use
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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