What is the global market size of the Orthobiologics Market?

Global Global Orthobiologics Market size was valued at USD 7.63 billion in 2021 and is poised to grow from USD 8.56 billion in 2022 to USD 12.33 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).

Who are the key vendors in the Global Orthobiologics Market?

Medtronic has become the market leader because of the excellent introduction and quick uptake of infuse bone morphogenetic protein. Medtronic is anticipated to hold the largest share during the forecast period due to infuse's higher price, strong sales team, and April 2018 FDA clearance for use in a new indication for spine surgery. Musculoskeletal Transplant Foundation, Zimmer Biomet, Wright Medical Group N.V., DePuy Synthes (Johnson & Johnson Services, Inc.), Stryker, Sea Spine, Bioventus, RTI Surgical Holdings, Inc. and Anika Therapeutics, Inc. are additional companies that compete on the international market. 'Johnson & Johnson', 'Stryker Corporation', 'Medtronic plc', 'Zimmer Biomet Holdings, Inc.', 'DePuy Synthes', 'NuVasive, Inc.', 'Globus Medical, Inc.', 'Orthofix Medical Inc.', 'Wright Medical Group N.V.', 'RTI Surgical, Inc.', 'Bioventus LLC', 'Seaspine Holdings Corporation', 'Alphatec Holdings, Inc.', 'Kuros Biosciences AG', 'CONMED Corporation', 'Xtant Medical Holdings, Inc.', 'Amedica Corporation', 'Cytomedix Inc.', 'Histogenics Corporation', 'Harvest Technologies Corporation'

What is the key driver of the Global Orthobiologics Market?

One of the main issues affecting the elderly population is knee osteoarthritis, which is extensively treated with viscosupplements. Hyaluronic acid injections known as viscosupplements are given right into the joints. High product costs, new manufacturer entrants, and recent marketing approvals are the major variables linked to the expansion of viscosupplements segments. Additionally, the viscosupplements segments are benefiting from better reimbursement policies. Given the aforementioned aspects, it is projected that the increased demand for viscosupplements will propel the growth of the worldwide orthobiologics market during the forecast period.

What is the key market trend for the Global Orthobiologics Market?

The global orthobiologics market is anticipated to develop due to the high prevalence of sports-related injuries. For instance, according to a study published in November 2018 titled 'Results on sports-related injuries in children from NHS emergency care dataset Oxfordshire pilot: an ecological study,' 47.4 percent of emergency department visits related to sports injuries were for children between the ages of 0 and 19 and roughly 23.5 percent of admissions related to sports injuries for all ages.

Which region accounted for the largest share in the Global Orthobiologics Market?

Orthopedic Surgery in outpatient settings is increasing, favoring the North American Market. North America's market is estimated to rule the industry for the entire forecast year. The market in North America may see growth between 2019 and 2026 as a result of the business strategies of top American manufacturers, benevolent reimbursement policies, rising prevalence of degenerative bone diseases, and rising trend of orthopaedic procedures in outpatient settings. Due to the recent marketing approval for Cingal, a viscosupplement, in Europe, Europe is anticipated to be the second most lucrative region with a sizable market share..

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 News

In September 2024, Stryker introduced the addition of two novel products to its product line of Foot & Ankle. Ankle Truss System™ (ATS) and Osteotomy Truss System™ (OTS) lately acquired by 4WEB Medical. Stryker will present both the products at the AOFAS Annual Meeting in Canada.
In September 2024, Orthofix Medical Incorporation announced the introduction of fresh data aiding the use of the company’s branded (PEMF) Pulsed Electromagnetic Field simulation to accelerate fusion rates as an assistant to lumbar spine fusion procedure.
In November 2023, Smith+Nephew announced that it signed a contract to acquire CartiHeal. This acquisition supports Smith+Nephew’s strategy to invest behind its successful Sports Medicine Business. Also, the purchase will accompany their current knee repair product line with commercial specialization in high-growth biologics.

Orthobiologics Market Report Snapshots

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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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What is the global market size of Orthobiologics Market?

Who are the key vendors in the Orthobiologics Market?

What is the key driver of Orthobiologics Market?

What is the key market trend for Orthobiologics Market?

Which region accounted for the largest share in Orthobiologics Market?

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