Pune, India, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Global orthobiologics market size was valued at USD 8.36 billion in 2022 and is expected to reach USD 12.78 billion by 2030 recording a CAGR of 5.5% during the forecast period. North America Dominated Market Due to Growing Use of Biologics for Bone-Related Disorders, Rising Incidence of Orthopedic Injuries to Fuel Market Growth.
Orthobiologics are made from substances that are naturally available in the body. These medicines are used to fasten the healing time of various chronic injuries. They are also used in a wide range of orthopedic surgeries to enhance the healing of injured muscles, broken bones, and ligament tears. The growing incidence of sports injuries and orthopedic ailments is anticipated to fuel the orthobiologics market growth.
Fortune Business Insights™ displays this information in a report titled, "Orthobiologics Market, 2023-2030."
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Notable Industry Development:
January 2023: Zimmer Biomet announced that it had signed an agreement to acquire Embody, an orthobiologics firm, for USD 155 million. The acquisition included Embody’s entire range of collagen-based biointegrative solutions to support the healing process of the trickiest orthopedic tissue injures.
Key Takeaways :
- COVID-19 Pandemic Decelerated Market Growth Due to Declining Number of Patient Visits
- Increasing Use of Viscosupplements for Delaying Total Knee Replacement Procedure to Boost Product Adoption
- Growing Cases of Orthopedic Injuries to Boost Market Progress
- Increasing Number of Product Launches to Enhance Market Growth
- Issues Associated With Bone Morphogenetic Proteins and Clinical Limitations of Several Orthobiologics to Limit Market Growth
LIST OF KEY COMPANIES 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.)
COVID-19 Impact:
Reduction in Patient Visits During COVID-19 Pandemic Negatively Affected Market Growth
The COVID-19 pandemic had a negative influence on the market progress as the number of patients visiting hospitals for treatment decreased considerably due to the implementation of lockdowns and social distancing norms. Many key market players reported a notable decline in their revenue margins as well during this period. Moreover, postponement of elective surgeries, such as knee replacement operations further decelerated the market development.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2021 to 2028 CAGR | 5.5% |
| 2030 Value Projection | USD 12.78 Billion |
| Base Year | 2022 |
| Orthobiologics Market Size in 2022 | USD 8.36 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 181 |
| Segments covered | By Product Type, By Application, By End-user |
Drivers and Restraints:
Rising Incidence of Orthopedic Injuries to Fuel Market Growth
The incidence of musculoskeletal diseases and orthopedic injuries is on the rise, especially among the elderly population. These disorders can severely limit a person’s mobility and cause chronic pain. This scenario has increased the volume of orthopedic surgeries to help patients overcome these challenges, which is also expected to bolster the demand for orthobiologic products.
However, clinical disadvantages of many orthobiologic products and concerns associated with bone morphogenetic proteins can impede the market growth.
Segmentation:
Rising Prevalence of Orthopedic Diseases Fueled Demand for Viscosupplements
Based on product type, the orthobiologics market is divided into viscosupplements, bone growth factors, Demineralized Bone Matrix (DBM), synthetic bone substitutes, cellular allograft, allografts, and others. The viscosupplements segment dominated the orthobiologics market share in 2022 as the incidence of orthopedic ailments, such as degenerative arthritis and knee osteoarthritis is rising among the elderly population.
Rising Number of Spinal Surgeries Boosted the Use of Orthobiologics in Spinal Fusion
In terms of application, the market is segmented into spinal fusion, maxillofacial & dental, soft tissue repair, reconstructive & fracture surgery, and others. The spinal fusion application segment dominated the market in 2022 as the number of spinal surgeries has been on a rise across the globe.
Increasing Volume of Patients Spurred the Product Use in Hospitals and ASCs
Based on end-user, the market is divided into hospitals & Ambulatory Surgical Centers (ASCs), specialty clinics, and others. The Hospitals & Ambulatory Surgical Centers (ASCs) segment held a dominant market share in 2022. There has been a notable rise in patient visits in hospitals and ASCs. Moreover, and strong growth in the number of orthopedic surgeries being performed in these medical centers.
With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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Report Coverage:
The report offers a detailed analysis of the market and focuses on critical areas, such as leading product applications, end-users, product types, and prominent market players. It also provides valuable information on the latest market trends, dynamics, and the effect of the COVID-19 pandemic on the market. Besides the above mentioned factors, the report also covers several factors that are contributing to the market’s growth.
Regional Insights:
North America Dominated Market Due to Growing Use of Biologics for Bone-Related Disorders
North America dominated the global market in 2022 as the region is rapidly adopting biologic products for several bone-related disorders and injuries. Moreover, many key market players in North America are introducing novel synthetic products to improve patient care and fasten the bone healing process, which will further boost the regional market growth.
Europe captured the second-largest market share in 2022 and might record a strong CAGR during the forecast period due to the introduction of favorable health reimbursement policies for bone graft procedures.
Competitive Landscape:
Leading Market Players to Dominate the Market With Their Strong Product Portfolios
The market’s competitive landscape is highly fragmented, with Medtronic capturing the largest market share in 2022 as it has a vast portfolio of bone graft substitutes. The company is also increasing its focus on expanding its geographical presence by introducing novel orthobiologic products. The other key market players include Stryker Corporation, SeaSpine Holdings Corporation, Anika Therapeutics, Inc., Globus Medical, Integra LifeSciences, and Bioventus.
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Table Of Contents :
- 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
- New Product Launches
- Key Industry Developments (Mergers, Acquisitions, and Partnership)
- Impact of COVID-19 on the Market
- Global Orthobiologics Market Analysis, Insights and Forecast, 2019-2030
- 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, 2019-2030
- 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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- Europe Orthobiologics Market Analysis, Insights and Forecast, 2019-2030
- 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/ Sub-region
- Germany
- Market Analysis, Insights and Forecast – By Product Type
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Toc Continue…
FAQs :
How big is the Orthobiologics Market?
- The global orthobiologics market size was valued at USD 8.36 billion in 2022 and is expected to be worth USD 8.77 billion in 2023. The market is projected to reach USD 12.78 billion by 2030, recording a CAGR of 5.5% during the forecast period.
What are the key factors driving the Orthobiologics Market?
- The increasing prevalence of orthopedic disorders, rising reconstructive surgeries, and growing product launches by key market players are the major factors supporting the market growth.
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