Pune, India, Sept. 19, 2022 (GLOBE NEWSWIRE) -- The global orthobiologics market size was valued at USD 7.63 billion in 2021. The market is expected to grow from USD 8.56 billion in 2022 to USD 12.33 billion by 2029, exhibiting a CAGR of 5.4% during the forecast period. Increasing adoption of stem-cell allografts and rapid adoption of viscosupplements for delayed total knee replacements are expected to foster the industry’s growth. Fortune Business Insights™ provides this information in its report titled “Orthobiologics Market, 2022-2029.”
Key Industry Development
- October 2021- AlloSource announced its novel AlloMend Extra-Large (XL) Acellular Dermal Matrix (ADM) to expand its product offerings.
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 5.4% |
| 2029 Value Projection | USD 12.33 Billion |
| Base Year | 2021 |
| Market Size in 2022 | USD 8.56 Billion |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 181 |
Drivers and Restraints
Rising Orthopedic Injuries to Bolster the Market’s Progress
Orthobiologics are prepared using substances naturally obtained from the body, enhancing the healing process. Increasing orthopedic injuries are expected to foster the product demand. Furthermore, rising incidences of osteoporosis disorders are expected to foster the demand for effective healthcare services. Moreover, there is an increasing prevalence of hip and backbone fractures. Also, increasing product launches by companies is expected to elevate this industry’s growth. For example, Royal Biologics announced its novel MAGNUS in January 2020. These factors are likely to drive the orthobiologics market growth.
However, issues regarding bone morphogenetic proteins and clinical limitations are likely to hinder the market’s progress.
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Regional Insights
Rapid Biologics Adoption for Bone-related Disorders & Injuries to Propel Market Growth in North America
North America is projected to dominate the orthobiologics market share due to rapid biologics adoption for bone-related disorders & injuries. The market in North America was valued at USD 3.65 billion in 2021 and is expected to gain a huge portion of the global market in the coming years. Further, the presence of a huge patient population is expected to bolster the industry’s growth.
In Europe, rising favorable health policies are expected to bolster the adoption of orthobiologics. Furthermore, the rising focus of companies on introducing new products is expected to elevate the industry’s growth.
COVID-19 Impact:
Decreasing Patient Volume Hindered Market Progress
This market was negatively affected during the COVID-19 pandemic due to decreasing patient volume. The sudden patient spike led to a lack of in-patient visits, hindering the industry’s growth. Furthermore, restrictions on manufacturing led to a lack of resources available to produce effective products and services. Moreover, the restrictions on transport and travel led to a lack of raw materials required to produce orthobiologics. However, the post COVID-19 relaxations allowed manufacturers to elevate their production capacities and enhance their sales.
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Segmentation
Viscosupplements Segment to Dominate Owing to Rising Prevalence of Degenerative Arthritis
By product type, the market is segmented into viscosupplements, bone growth factors, Demineralized Bone Matrix (DBM), synthetic bone substitutes, cellular allograft, allografts, and others. The viscosupplements segment is expected to dominate attributable to the rising prevalence of degenerative arthritis
Spinal Fusion Segment to Hold Major Market Share Owing to Rising Spinal Fusion Treatments
Based on application, this market is classified into spinal fusion, maxillofacial & dental, soft tissue repair, reconstructive & fracture surgery, and others. The spinal fusion segment is expected to hold a major market share due to rising spinal fusion treatments.
Hospitals & ASCs Segment to Dominate Owing to Huge Patient Volume
As per end-user, the market is categorized into hospitals & Ambulatory Surgical Centers (ASCs), specialty clinics, and others. The hospitals & ASCs segment is expected to dominate attributable to huge patient volumes.
Geographically, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
| Market Segmentation | By Product Type
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By Application
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By End-user
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Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
List of Key Players Profiled in the Report
- Medtronic (Ireland)
- Zimmer Biomet (U.S.)
- DePuy Synthes (Johnson & Johnson Services, Inc.) (U.S.)
- Stryker (U.S.)
- Anika Therapeutics, Inc. (U.S.)
- SeaSpine (U.S.)
- Bioventus (U.S.)
- RTI Surgical (U.S.)
- MTF Biologics (U.S.)
- Arthrex, Inc. (U.S.)
- Smith & Nephew (U.K.)
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Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Epidemiology of Clinical Indications
- Regulatory Scenario for Key Countries
- Number of Key Spinal Fusion Procedures in the U.S., by Type, 2021
- New Product Launches
- Key Industry Developments (Mergers, Acquisitions, and Partnership)
- Impact of COVID-19 on the Market
- Global Orthobiologics Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Product Type
- Viscosupplements
- Bone Growth Factors
- Demineralized Bone Matrix (DBM)
- Synthetic Bone Substitutes
- Cellular Allograft
- Allografts
- Others
- Market Analysis, Insights and Forecast – By Application
- Spinal Fusion
- Maxillofacial & Dental
- Soft Tissue Repair
- Reconstructive & Fracture Surgery
- Others
- Market Analysis, Insights and Forecast – By End-user
- Hospitals & Ambulatory Surgical Centers (ASCs)
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Product Type
- North America Orthobiologics Market Analysis, Insights and Forecast, 2018-2029
- Market Analysis, Insights and Forecast – By Product Type
- Viscosupplements
- Bone Growth Factors
- Demineralized Bone Matrix (DBM)
- Synthetic Bone Substitutes
- Cellular Allograft
- Allografts
- Others
- Market Analysis, Insights and Forecast – By Application
- Spinal Fusion
- Maxillofacial & Dental
- Soft Tissue Repair
- Reconstructive & Fracture Surgery
- Others
- Market Analysis, Insights and Forecast – By End-user
- Hospitals & Ambulatory Surgical Centers (ASCs)
- Specialty Clinics
- Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Market Analysis, Insights and Forecast – By Product Type
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