According to latest “Orthobiologics Market 2020 Report” published by Fortune Business Insights, The Global Orthobiologics Market size was valued at USD 5,830.1 million in 2018 and is projected to reach USD 8,261.6 million by 2026. The forecast period is set from 2020 to 2026 and market is expected to rise at 4.5%.
Key Players Analyzed in Report:
Zimmer Biomet, Genzyme Corporation (Sanofi), DePuy Synthes (Johnson & Johnson Services, Inc.), Stryker, Medtronic, Wright Medical Group N.V., Anika Therapeutics, Inc., SeaSpine, Bioventus, RTI Surgical Holdings, Inc., Musculoskeletal Transplant Foundation and Other players.
Global Orthobiologics Market Highlights:
Orthobiologics Market Is Predicted to Reach a Value of US$ 8,261.6 Mn; Rising Cases of Osteoarthritis and Orthopedic Injuries Will Encourage Growth, says Fortune Business Insights.
Visocsupplemet segment accounted for a major share of 32.1% in the global orthobiologics market in 2018 and is predicted to grow tremendously during the forecast period. Viscosupplements are doses of hyaluronic acid which are directly inserted into the joints. Viscosupplements are majorly utilized in the treatment of osteoarthritis and knee osteoarthritis, extremely common among the geriatric population. Viscosupplemets are likely to expand owing to the factors such as recent marking approvals, high product costs and the entrance of new manufacturers. In addition, favorable reimbursement guidelines for viscosupplements are also promoting the growth of viscosupplements segment.
Market Segment Analysis
The global Orthobiologics market is segmented on the basis of the Product type market is segmented by Viscosupplements, Bone Growth Stimulators, Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cells, Allografts. By Application Orthobiologics market segmented into Spinal Fusion, Maxillofacial & Dental, Soft Tissue Repair, Reconstructive & Fracture Surgery. Based on End User market is segmented by Hospitals, Ambulatory Surgical Centers, Speciality Clinics.
Soft Tissue Repair Segment Will Rise Eloquently with High Demand for Cartilage Repair
The orthobiologics market, on the basis of application is segmented into maxillofacial & dental, spinal fusion soft tissue repair, reconstructive& fracture surgery, and others. In 2018, spinal fusion dominated the orthobiologics market and is expected to account for major share during the forecast period owing to increasing utilization of allografts and synthetic matrices in spine surgeries. Soft tissue repair is predicted to witness high growth in the forthcoming year due to rising demand for cartilage repair. Further, the approval of Food Drug & Administration for spinal infusion in spinal surgeries is also a factor contributing considerably to the global orthobiologics market. For instance, Medtronic received FDA approval for bone infusion graft of new spine surgeries.
Increasing cases of degenerative bones diseases will favor growth in North America
Geographically the global orthobiologics market is segmented into North America, Europe, Asia Pacific, Latin America, the zMiddle East & Africa. North America dominated the orthobiologics market in 2018 and is expected to dominate in the forthcoming year. The rising drift towards orthopedic surgeries and Increasing cases of degenerative bone diseases is likely to propel growth of the orthobiologics market during the forecast period. Some other factors such as positive reimbursement policies and developed healthcare infrastructure is also expected to drive orthobiologics market in North America. Europe is predicted to lead the global orthobiologics market after North America owing to the rising utilization of viscosupplements and recent approval for cingal in the region. Asia Pacific is also expected to grow at a significant rate in the forthcoming year due to the increasing adoption of viscosupplements in countries such as China and India.
Orthobiologics Market Growth Factors:
Viscosupplements Segment to Witness Tremendous Growth. The increasing cases of orthopedic injuries and osteoarthritis around the world is propelling the growth of the global orthobiologics market. As per a report by the Centers for Disease Control and Prevention, more than 30 million people in the U.S. were infected by osteoarthritis, making it a crucial matter for healthcare providers.
Orthobiologics has now extended its application to dental, cartilage repair, spinal fusion, maxillofacial and many others. The escalating demand and rising adoption of recently launched products by key players is a prime factor supporting the growth of orthobiologics markets.
BioFiber by Tornier and Similar Product Developments to Boost Growth
The global orthobiologics market is driven by emerging technologies in orthobiologics treatment. For instance, a technology called 3D printed implant offers better stability and significantly reduces surgery time. A global leader in orthopaedics called Tornier has launched BioFiber Surgical Mesh. This technology helps to repair ligament injuries and other muscle injuries. Growing geriatric population is another factor fuelling demand for orthobiologics products such as orthobiologics injections. The rising clearances for several orthobiologics products is driving the orthobiologics market during the forecast period. Other factors likely to boost the orthobiologics market include increasing demand for advanced treatment and high growth potential especially in emerging countries.
Table Of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
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