Wilmington, Delaware, United States, July 04, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc.: The value of the global orthobiologics market was clocked at US$ 5.01 Bn in 2021. The orthobiologics market outlook predicts the market to rise at a CAGR of 4.7% during the forecast period, from 2022 to 2031. The global orthobiologics market is expected to attain a value surpassing US$ 7.4 Bn by 2031. Until a few years ago, orthobiologics have been a common practice in sports medicine and orthopedic surgeries. Demand analysis of orthobiologics estimates that developments in regenerative medicine, an increasing number of sports and sports-related injuries, rising demand for less invasive procedures, and constant infusion of innovative products and treatments are all expected to propel the global orthobiologics market.
Musculoskeletal tissue engineering and regenerative medicine research, however, have slowed down as a result of the COVID-19 outbreak. However, strong development potential in developing nations and a rise in demand for cutting-edge therapies are expected to create considerable prospects for companies in the growth of the orthobiologics market.
The global orthobiologics market is being driven by the increase in orthobiologics product and usage of orthopedic device. In addition to that, there is increasing incorporation of biochemistry and biology in the treatment of soft tissue and bone injuries. Orthobiologic drugs help natural healing mechanism of the body to work more quickly. They can hasten the healing of injured ligaments, tendons, and muscles. It also assists in repairing osteoarthritis damage. The materials used to develop orthobiologics are those that are normally present in the human body.
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Key Findings of Market Report
- The global market for orthobiologics is estimated to be driven by an increase in the occurrence of inflammatory diseases including tendinitis and osteoarthritis during the forecast timeframe.
- It is anticipated that more adolescents and young adults will engage in sports activities that put them at risk for muscle or ligament damage. Athletes now have a lot of concern over sports injuries. Sports injuries involve the musculoskeletal system, which is comprised bones, nerves, fascia, ligaments, tendons, muscles, and also tissues. These injuries are most frequently caused by fractures, overexertion, and falls. As a result, the global market for orthobiologics is likely to be driven by an increase in sports injuries.
- Depending on product category, the viscosupplements segment commanded a sizeable market share in 2021. The use of non-surgical solutions for treating osteoarthritis is predicted to grow along with the increasing occurrence of illnesses brought on by a sedentary lifestyle. One of the emerging trends of the orthobiologics market is the development of hyaluronic acid-based therapies, which is also anticipated to boost demand for orthobiologics.
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Global Orthobiologics Market: Growth Drivers
- In terms of application, in 2021, the spinal fusion segment is likely to hold a major share of the global orthobiologics market. The rise in spinal injuries and sports-related injuries across the globe is anticipated to be a major driver for this market segment. There has been an increase in the use of spinal fusion devices across the globe.
- Based on end-user, the hospital category is anticipated to have a sizable proportion of the global orthobiologics market. Surgeries are typically carried out in these medical facilities. Accordingly, orthopedic surgery is also carried out in hospitals on different body parts, including knee, hip, ankle, shoulder, elbow, wrists, and spine. Growing demand for these operations is likely to drive growth of the orthobiologics market.
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Global Orthobiologics Market: Key Players
Some of the key market players are
- Globus Medical, Inc.
- Alphatec Spine, Inc.
- Integra Life Sciences
- RTI Surgical, Inc.
- Johnson & Johnson
- Exactech, Inc.
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Global Orthobiologics Market: Segmentation
Product Type
- Bone Morphogenetic Proteins
- Demineralized Bone Matrix
- Synthetic Bone Substitutes
- Viscosupplements
- Allografts
- Stem Cell
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