Global Orthobiologics Market

Orthobiologics Market Size, Share, Growth Analysis, By Product(Viscosupplementation Products, Demineralized Bone Matrices, Synthetic Orthobiologics, Bone Morphogenic Protein), By Application(Osteoarthritis and Degenerative Arthritis, Spinal Fusion, Soft-Tissue Injuries, Fracture Recovery), By End User(Hospitals, Orthopedic Clinics, & Ambulatory Care Centers), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35D2070 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 92 | Figures: 76

Orthobiologics Market Dynamics

Orthobiologics Market Driver

Improvements in Regenerative Medicine 

  • Modernized technologies and R&D are majorly impacting the growth of the orthobiologics market, innovations in PRP, stem cell therapies, and several other associated techniques are increasing the accessibility, availability, and efficacy of orthobiologics, thus impacting the market growth. Moreover, current research and trials are resulting in the emergence of novel treatment modalities and products. This improves the healing process and overall recovery. 

Increasing Sports Participation and Associated Injuries 

  • The growing trend towards leading active lives and emphasis on preventive health measures is significantly driving the market growth. There is a rising focus on sports participation and fitness, which increases the sports-caused injuries, thus demanding quick healing treatments options. Individuals and athletes are actively preferring orthobiologics for preventing injuries and better recovery. 

Restraints 

Low Clinical Evidence 

  • The growing need for extensive research and variable outcomes is majorly hindering the growth of the market. Despite there are several promises through deep research and advancements, lack of exhaustive clinical research aiding the efficiency of several some orthobiologics therapies may restrict their acceptance and use by medical professionals. Moreover, inconsistent outcomes in studies may result in scepticism about the efficacy of specific products, affecting adoption. 

Fluctuation in Patient Responses 

  • Variations in health conditions and patient biology may result in changeable outcomes associated with orthobiologics, which may further create difficulties in treatment. This may adversely affect market growth. Challenges in personalization are also negatively impacting market growth. With the growing personalization medicine trend, personalization is still challenging owing to the intricacy of separate patient profiles.
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FAQs

Global Orthobiologics Market size was valued at USD 6.1 billion in 2022 and is poised to grow from USD 6.43 billion in 2023 to USD 9.87 billion by 2031, growing at a CAGR of 5.5% during the forecast period (2024-2031).

The global orthobiologics market is a competitive and speedy evolving market driven by the prominent market players. The leading companies like Johnson & Johnson, Medtronic, and Stryker are holding major market share with a broader range of products like stem cells and several growth factors. There is an increasing emphasis on obedience with stringent regulatory norms that affect market entry and timelines of product development for simplified approvals. Speedy advances in technology like surgeries, strategic collaborations, and heavy investments and expenditures on R&D define the competitive landscape. 'Medtronic plc', 'Stryker Corporation ', 'Globus Medical, Inc. ', 'Orthofix International N.V. ', 'RTI Surgical, Inc. ', 'Kuros Biosciences Ltd. ', 'Bioventus LLC ', 'Nuvasive, Inc. ', 'Seaspine Holdings Corporation ', 'Arthrex, Inc. ', 'Xtant Medical Holdings, Inc. ', 'Sanofi S.A. ', 'Smith & Nephew plc ', 'Integra LifeSciences Holdings Corporation ', 'Anika Therapeutics, Inc. ', 'Alphatec Spine, Inc. ', 'Orthocell Ltd. ', 'MiMedx Group, Inc. ', 'Orthofix Medical Inc. ', 'Bone Therapeutics SA'

Modernized technologies and R&D are majorly impacting the growth of the orthobiologics market, innovations in PRP, stem cell therapies, and several other associated techniques are increasing the accessibility, availability, and efficacy of orthobiologics, thus impacting the market growth. Moreover, current research and trials are resulting in the emergence of novel treatment modalities and products. This improves the healing process and overall recovery. 

Growing Prominence of PRP Treatment: Platelet-Rich Plasma or PRP is gaining significant prominence for its application in joint pain, soft tissue injuries, and post-surgical recovery. Hence, it is majorly gaining popularity in regenerative applications. Moreover, the growing number of efforts and initiatives are being imposed to standardize preparation of PRP and administration policies to improve reproducibility and efficacy.  

Geographically, North America dominated the market in 2023 and is expected to lead over the forecast period owing to the presence of improved healthcare infrastructure, growing cases of musculoskeletal issues, and strong research and growing number of research and developments. North America brags about its developed healthcare infrastructure with easy access to superior technologies and well-trained professionals. Regional growth is also impacted by the rising number of sports patients that report sports injuries and osteoarthritis issues. This majorly demands improved and innovative treatments. Furthermore, increasing amount of research and development fuels modernizations in orthobiologics, resulting in the emergence of novel therapies. The key players profiled in the region include Amgen Inc., Medtronic, Zimmer Biomet, Stryker Corporation, Amedica Corporation, Bone Therapeutics, and more.    

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Global Orthobiologics Market

Report ID: SQMIG35D2070

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