April 4, 2020

Orthobiologics Market Expected To Show Steady Growth During The Forecast Period

The latest market report published by Credence Research, Inc. “Orthobiologics Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global orthobiologics market was valued at US$ 4,919.0 Mn in 2017 expanding at a CAGR of 5.7% from 2018 to 2026.

You can get the sample copy of this research by Credence Research here

Market Insights

Orthobiologics is a minimally invasive technique that uses a biological material to fasten the healing process after injury. Orthobiology has shown to enhance the healing of musculoskeletal injuries such as bones, muscle strains, ligaments and tendons. Orthobiologics provides a variety of therapies using the patient’s own tissue or stem cells to create proteins to artificially repair damaged muscles.

Orthobiologics Market

In the last two decades, orthobiologics has been increasingly used due to a better understanding of the biologics, technological advances and skills needed for treatment; thus emerging as an important sector in shaping the future of regenerative medicines and cell therapy. Moreover, the growing use of orthobiology in osteoarthritis and sports medicine is the main driver of the growth of the market.

Other factors that support the growth of the orthobiologic market include an increasing geriatric population susceptible to orthopedic disorders, an increasing rate of obesity and musculoskeletal injuries, and an increasing tendency of patients towards minimally invasive therapies. However, the high costs associated with treatment and products are the main factor restricting the growth of the global market in orthobiology.

In terms of product, viscosupplementation products held the largest market share in the global market for orthobiology. Viscosuplementation, also referred to as hyaluronic injection, is the most widely used method for the treatment of osteoarthritis. The U.S. Food and Drug Administration (FDA) has approved viscosupplementation of knee arthritis only, but can be used as off-label treatment for hip and other joint arthritis.

You can get the sample copy of this research by Credence Research here

Increasing prevalence of osteoarthritis in the geriatric population is the key driver of this market’s growth. Aging is responsible for changes in the musculoskeletal system, which tend to increase the risk for osteoarthritis. According to the Centers for Disease Prevention and Control (CDC), an estimated 78.4 million adults aged 18 years or older will have doctor-diagnosed arthritis in the U.S. by 2040 compared to 54.4 million adults in 2013 to 2015. These factors will further fuel the growth of the global orthobiologics market during the forecast period.

In terms of geography, North America has held a pole position in the global market for orthobiologics. The key drivers that will facilitate the growth of the orthobiologics market in North America are the presence of giant market players, an increasing number of elderly people suffering from orthopedic degenerative diseases, and thriving opportunities for research and development due to strategic partnerships and collaborations between research institutes and biopharmaceutical companies.

Asia Pacific is expected to grow at the fastest rate during the forecast period due to the presence of a large geriatric population and patient pool, increased government spending and a thriving sports medicine in the region. Rising medical tourism in the region will further contribute to the growth of the orthobiologics market during the forecast period.

The prominent players actively engaged in the orthobiologics market include DePuy Synthes, Stryker Corporation, Medtronic plc, NuVasive Inc., Zimmer Biomet, Globus Medical, Inc., Orthofix Internamtional NV, Harvest Technologies Corporation, Seaspine Holdings Corporation, RTI Surgicals among others.

Browse Full Report Originally Published by Credence Research

Key Market Movements:

  • Growing inclination towards orthobiologics and cellular therapies in sports medicine
  • Growing prevalence of osteoarthritis and number of spinal fusion surgeries globally
  • Growing preference of minimally invasive therapies by patients, especially in the developed countries
  • Technological advancements and R&D in cellular arthoplasty for the treatment of orthopedic ailments

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