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The Orthobiologics Market size is estimated to grow by USD 2,638.44 million between 2022 and 2027 accelerating at a CAGR of 7.88% during the forecast period. The market's growth is influenced by various factors, including the increasing prevalence of orthopedic disorders, especially among the aging population. Additionally, there is a growing focus on reducing orthopedic surgeries, and the market is witnessing a rise in approvals and clearances for orthobiologics products. However, the market faces challenges, such as high costs and inadequate reimbursements for orthobiologics products and procedures, concerns associated with their use, and stringent regulations. Despite these challenges, the market is experiencing positive trends, including the development of new products, emerging technological innovations, and rising popularity of orthobiologics.
This orthobiologics market report extensively covers market segmentation by application (spinal fusion, reconstructive surgery, trauma repair, and others), product (bone graft substitutes, viscosupplementation, and stem cells), and geography (North America, Europe, Asia, and the Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing prevalence of orthopedic disorders coupled with an aging population is a key factor in the growth of the market. There has been an increase in the number of orthopedic disorders across the world over the last decade. Limited physical activity and eating habits can negatively influence the body's homeostasis. This issue worsens with age, putting most persons aged 60 and up vulnerable to orthopedic disorders such as arthritis. Osteoarthritis in people of this age group can affect the joints and stress the knees, hips, and lower spine. Sophisticated treatment options and improved standards for healthcare have increased life expectancy, resulting in a further rise in the population of this age group. For instance, in the US, approximately 70% of adults between 55 and 78 years suffer from osteoarthritis, which is expected to increase during the forecast period.
According to the CDC, approximately 65.6% of persons aged 65 and up will visit dental surgeons in 2023. Due to the rise in the prevalence of orthopedic problems, orthobiologics are required for the fixation or binding of joint disorders. Thus, the increasing number of orthopedic disorders will increase the demand for orthobiologics and thus drive market growth.
The increase in the development of new products is a key trend in the market's growth. These product launches will encourage other market players to invest in developing advanced products to maintain their position in the market. Therefore, the introduction of new products will support the revenue inflow in the market during the forecast period. Many companies offering orthobiologics such as SeaSpine Holdings Corp, and Bioventus LLC are focusing on the development of new products to cater to customers with specific requirements.
Furthermore, the rise in popularity of orthobiologics will drive market growth. Orthobiologics therapy focuses on using the healing and rejuvenating properties of the body's own cells for the repair of damaged tissues. Some of the innovative orthobiologics options which are helpful in the treatment of osteoarthritis include platelet-rich plasma (PRP), adipose tissue-derived mesenchymal stem cells (ADMSC), bone marrow concentrate (BMC), autologous chondrocyte implantation (ACI), and autologous conditioned serum. The availability of such products has resulted in preventing operative procedures such as knee arthroplasty for the treatment of osteoarthritis. This, in turn, is anticipated to boost the growth of the orthobiologics market share over the forecast period.
The high costs and inadequate reimbursements for orthobiologics products and procedures are major challenges to the growth of the market. The growing geriatric population, combined with a growth in the number of orthopedic illnesses, has boosted the demand for orthobiologics. Advanced ortho biologics products are widely available on the market, particularly in developed countries like the United States. However, the expensive cost of these products prevents them from being widely adopted in emerging and underdeveloped economies.
Inadequate orthobiologic reimbursement is another key reason for the poor usage of these treatments and devices. For instance, the reimbursement for orthobiologics is complex in the US due to stringent FDA regulations and the multi-payor system. The high costs of orthobiologics products, such as new bone grafts, also make reimbursement challenging, leading in low adoption rates in economically depressed countries. Therefore, for manufacturers to be successful, the development of a comprehensive plan for reimbursement before obtaining FDA approval becomes essential. The impact of these factors, however, is expected to reduce in the near future, as many manufacturers are planning to develop affordable orthobiologics products.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Orthobiologics Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advanced Medical Solutions Group Plc: The company offers orthobiologics solutions that include synthetic bone substitutes, collagen membranes, and bioabsorbable screws.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the spinal fusion segment will be significant during the forecast period. Spinal fusion or spinal arthrodesis is a technique that permanently joins two or more vertebrae in the spine to increase stability, repair a deformity, or relieve discomfort. Patients with spinal disorders such as spinal abnormalities, spinal weakness or instability, and herniated discs can benefit from this therapy. As a result, orthobiologics improve the efficacy of spinal fusion surgeries by healing the targeted site. Such orthobiologic advantages in spinal fusion procedures will drive orthobiologic demand over the projection period.
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The spinal fusion segments show a gradual increase in the market share of USD 2,311.78 million in 2017 and continue to grow by 2021. The higher prevalence of spine-related issues is anticipated to drive the spine fusion application segment in the market. Scoliosis affects 2-3 percent of the population, or around six to nine million persons in the United States, according to data from the National Scoliosis Foundation. People in their thirties and fifties are more prone to it. Above mentioned spinal disorders are generally treated with spinal fusion procedures. Thus, a higher prevalence of such diseases is expected to boost the growth of the spinal fusion segment in the market.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America dominated the market and is expected to maintain its position during the projection period due to the presence of a well-established healthcare system that provides high-quality orthobiologics. Obesity and an increase in the prevalence of arthritis have increased demand for minimally invasive procedures such as bone grafting. The increase in sports injuries across North America is also a major factor driving the market.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for orthobiology. Orthobiologics companies and various organizations in North America are signing partnership agreements and entering collaborations. By 2021, restrictions in various countries were somewhat relaxed, which included resuming business activities and offering essential services, including treatment of orthopedic conditions using orthobiologics. The relaxation of such restrictions will encourage people to go for health checkups and treatments, which in turn, will drive the growth of the orthobiologics market in North America during the forecast period.
The orthobiologics market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Orthobiologics Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.88% |
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Market growth 2023-2027 |
USD 2,638.44 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.95 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Canada, UK, Germany, and China |
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Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Advanced Medical Solutions Group Plc, Anika Therapeutics Inc., Bioventus LLC, Globus Medical Inc., Integra Lifesciences Holdings Corp., Johnson and Johnson, Kuros Biosciences AG, Medtronic Plc, MTF Biologics, Nuvasive Inc, Orthofix Medical Inc., OrthoPediatrics Corp., ROYAL BIOLOGICS, RTI Surgical Inc., SeaSpine Holdings Corp., Smith and Nephew plc, Stryker Corp., Xtant Medical Inc., Zimmer Biomet Holdings Inc., and Arthrex Inc. |
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Market dynamics |
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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