Global Orthobiologics Market – Snapshot
Orthobiologics comprise tissue and bone replacement materials used for quick recovery of ligaments, tendons, muscles, and broken bones. The global orthobiologics market was valued at US$ 4.8 Bn in 2017 and is projected to reach US$ 7.9 Bn by 2026 at a CAGR of 5.5% from 2018 to 2026. Rise in prevalence of chronic arthritis and increase in the geriatric population are anticipated to drive the global market. Additionally, increase in demand for biologics in minimally invasive procedures and rise in patient awareness are expected to propel the global market. Surge in sports injuries is expected to augment the global orthobiologics market. However, orthobiologics are relatively new; hence, reimbursement is less. This is likely to restrain the global market. According to the U.S. Department of Health and Human Services, 2 million people in the U.S. suffer from sports injuries each year. According to Spinal Cord, Inc., the U.S. had 245,000 to 353,000 people living with spinal cord injury in 2017. Furthermore, stringent regulatory requirements is projected to restrain the global orthobiologics market.
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In terms of product, the global orthobiologics market has been categorized into bone morphogenetic proteins, demineralized bone matrix, synthetic bone substitutes, viscosupplements, allografts, stem cells, and others. The viscosupplements segment dominated the market in 2017 due to rise in prevalence of knee osteoarthritis. Based on application, the market has been classified into spinal fusion, trauma repair, reconstructive surgeries, and others. The spinal fusion segment accounted for the largest share of the market in 2017 owing to rise in prevalence of spine and traumatic injuries, sports-related injuries, and accidents. In terms of end-user, the global orthobiologics market has been classified into hospitals, orthopedic clinics, and others. Increase in incidence of orthopedic injuries, nerve & tendon injuries, sports injuries, and accident injuries is anticipated to drive the hospitals segment.
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In terms of region, the global orthobiologics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for major share of the market in 2017. Emerging technologies in orthobiologics is anticipated to drive the market in the region during the forecast period. Additionally, rise in prevalence of sports-related injuries and injuries caused due to falls & accidents propel the market in the region. Rise in prevalence of sports injuries, increase in orthopedic procedures, and surge in the geriatric population in China, India, and Australia are anticipated to augment the market in Asia Pacific. Increase in the geriatric population is expected to drive the market in Middle East & Africa.
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Major players operating in the global orthobiologics market include Medtronic, DePuy Synthes (Johnson & Johnson), Sanofi, Seikagaku Corporation, Stryker, MTF Biologics, Bioventus LLC, Arthrex, Zimmer Biomet, RTI Surgical, Inc., Alphatec Spine, Inc., Exactech, Inc., Globus Medical, Inc., and Integra LifeSciences. Focus on emerging technologies and increase in trend of mergers and acquisitions are expected to boost the global market during the forecast period. In September 2018, NuVasive, Inc. launched a product line for Propel DBM. The Propel DBM product line includes gel, gel plus, and putty plus. To broaden the product line, the company provides Propel DBM gel and Propel DBM Putty with osteoconductive property which help to promote bone growth. In March 2018, Synergy Biomedical LLC received clearance from Therapeutic Goods Clearance (TGA) in Australia for BioSphere Putty, a synthetic bone graft product that helps bone healing.
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