The Orthobiologics Market was valued at USD 6.2 billion in 2023 and is poised for significant growth, with projections indicating it will reach USD 9.73 billion by 2031. This translates to a compound annual growth rate (CAGR) of 5.8% during the forecast period from 2024 to 2031.
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List of Orthobiologics Companies Profiled in Report:
- Anika Therapeutics, Inc.
- Arthrex, Inc.
- Bioventus LLC
- Bone Biologics Corp.
- DePuy Synthes
- Exactech Inc.
- Globus Medical
- Medtronic PLC
- Orthofix, Inc.
- RTI Surgical Inc.
- Smith & Nephew PLC
- Stryker Corporation
- Synthes Inc.
- Tornier Inc.
- Zimmer Biomet
(To view Full list of companies, Ask for Sample Report)
Market Growth Factors Fueling the Orthobiologics Market
The rising incidence of sports injuries, road accidents, and osteoarthritis is a primary driver of the orthobiologics market. For instance, as per the 2020 statistics by the United Kingdom National Health Service, tennis elbow, a common sports injury, affects about 1-3% of the population. Additionally, the global increase in the geriatric population is expected to lead to a higher prevalence of osteoarthritis. According to the World Health Organization (WHO), approximately 1.71 billion people had musculoskeletal conditions worldwide in 2021.
Furthermore, the growing adoption of minimally invasive surgeries is propelling the market forward. Minimally invasive surgeries offer faster recovery times and reduced pain for patients, making orthobiologics a preferred treatment option. Moreover, key market players are actively involved in launching new products and undertaking strategic initiatives, further bolstering market growth. For example, in April 2021, Ventris Medical launched Allocell AF, a next-generation osteoinductive fiber allograft, designed to enhance surgical handling and biological responsiveness at the defect site.
A Perfect Blend of Growth Opportunities and Challenges
The orthobiologics market presents a promising landscape owing to several factors. The increasing prevalence of orthopedic procedures, coupled with a growing geriatric population, is a major contributor to market expansion. As per the McLeod Health report, in 2022, the number of orthopedic procedures performed in the U.S. reached 18,577,953. Additionally, rising cases of road accidents, like the 461,312 reported in India in 2022, further escalate the demand for orthobiologics in trauma management.
An aging population is another significant factor propelling market growth. The United Nations (UN) predicts that the number of people aged 65 or older will double globally in the next 30 years, reaching 1.6 billion by 2050. This surge in the elderly population, highly susceptible to orthopedic disorders, will significantly drive the demand for orthobiologics.
Furthermore, patient satisfaction with orthobiologic procedures is high. Professor Mark Slevin’s analysis revealed that nearly 70% of patients who undergo orthobiologic treatments experience positive outcomes, including reduced pain and improved mobility. Additionally, the rising prevalence of obesity, a significant contributor to orthopedic disorders, is expected to fuel market growth. According to the 2022 World Obesity Atlas by the World Obesity Federation, by 2030, one billion people globally will be living with obesity.
Orthobiologics Market Segmentation as Follows:
By Product Type
- Bone Morphogenetic Protein
- Allograft
- Demineralized Bone Matrix
- Viscosupplementation Products
- Synthetic Bone Substitutes
By Application
- Soft tissue injuries
- Spinal fusion
- Osteoarthritis and degenerative arthritis
- Fracture healing
- Maxillofacial & Dental applications
By End User
- Research and academic institutions
- Hospitals and ambulatory centres
- Dental clinics
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Osteoarthritis and Degenerative Arthritis Application Segment Leads The Market
The osteoarthritis and degenerative arthritis segment is anticipated to witness the fastest growth in the orthobiologics market. The rising burden of osteoarthritis, the growing geriatric population, and increasing product launches are significant factors driving this segment’s growth. Additionally, strategic initiatives by key players, such as mergers and acquisitions, are fostering market expansion. For instance, in April 2022, Juniper Biologics acquired cell-mediated gene therapy for treating knee osteoarthritis from Kolon Life Science for USD 600 million.
The market is further augmented by increasing investment in research and development (R&D) by leading medical device and biotechnology companies. For instance, Locate Bio, a regenerative medicine and orthobiologics company, secured USD 12.7 million in an equity investment round in September 2021. This funding will be used to develop their portfolio of regenerative orthobiologics products.
North America Dominates the Market and is Expected to Maintain its Lead
North America is expected to retain its dominance in the orthobiologics market throughout the forecast period. Â Growing geriatric and obese population, further increasing the demand for orthobiologics in treating musculoskeletal disorders.
The United States, within North America, is expected to hold a significant share of the market. The high incidence of sports injuries among high school students, as reported in a National Library of Medicine study published in July 2021, exemplifies the demand for orthobiologics in the region. Additionally, continuous product launches, like the FDA approval received by Signature Biologics LLC for Signature Cord Prime in February 2021 for treating knee osteoarthritis, contribute to market growth in the region.
Unveiling Valuable Insights for Your Orthobiologics Market Strategy
- In-depth analysis of growth drivers and challenges impacting the market.
- Identification of lucrative market segments and their growth potential.
- Evaluation of the competitive landscape and key players’ strategies.
- Assessment of the impact of regional factors on market dynamics.
- Forecasting of future market trends and growth projections.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Orthobiologics Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Orthobiologics Market Segmentation, By Product Type
Chapter 9 Orthobiologics Market Segmentation, By Application
Chapter 10 Orthobiologics Market Segmentation, By End User
Chapter 11 Regional Analysis
Chapter 12 Company profile
Chapter 13 Competitive Landscape
Chapter 14 Use Case and Best Practices
Chapter 15 Conclusion
Continued…
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