Ongoing advancements in biotechnology and regenerative medicine contribute to the development of innovative orthobiologics products. Novel biomaterials, growth factors, stem cell therapies, and tissue engineering techniques are expanding treatment options and driving market growth.
New York, Feb. 07, 2024 (GLOBE NEWSWIRE) — According to a recent report by Market.us, the Global Orthobiologics Market size is expected to be worth around USD 14.2 Billion by 2033 from USD 7.9 Billion in 2023, growing at a CAGR of 6.0% during the forecast period from 2024 to 2033.
Also known as regenerative cell therapies, these contain growth factors to relieve pain, stimulate tissue healing and reinstate normal function. Being of various types, each orthobiologic has a unique mode of action. The rising number of geriatric population worldwide susceptible to osteoarthritis leads a huge growing orthobiologics market. In addition to this, increased awareness and demand for advanced treatments, rise in obesity, road accidents and injuries instigate the orthobiologics market significantly.
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Key Takeaway
- The growing number of orthopedic injuries significantly expands the orthobiologics market.
- By type analysis, viscosupplement segment dominates the market, commanding a large market share in 2023.
- Based on applications, spinal fusion segment holds a market share of 72.9%, dominating the orthobiologics market.
- Hospitals and ambulatory surgical centres played a crucial role in uplifting the revenue share of the market.
- North America leads the orthobiologics market, followed by Asia-Pacific having the fastest growing market.
Factors Affecting the Growth of the Global Orthobiologics Industry?
- Rising burden of Orthopedic injuries: The increasing cases of orthopedic injuries such as bone fractures due to road accidents and sports, enhance the market share significantly.
- Technological Advancements: Recent product launches and advancements in technology within the orthobiologics market are expected to create lucrative growth opportunities.
- Rise in geriatric population: With the increasing geriatric population, more cases of osteoarthritis evolves around, thus fostering the orthobiologics market.
- Government Medical Reimbursement Policies: Revenue in the Orthobiologics market is projected to experience significant growth, primarily due to favorable medical reimbursement policies that governments are planning to implement.
Top Trends in the Global Orthobiologics Market
The adoption of platelet rich plasma(PRP) therapy is the foremost orthobiologic treatment to treat injured area and repairing of the broken bones. The PRP increases the bone intensity and density in the fracture allowing bone regeneration and recovery in a compact period of time. This allows better treatment of the fracture, thus prospering the orthobiologics market growth. Furthermore, orthobiologic procedure incorporates bone marrow aspiration in many cases of bone injuries. The process involves removal of small amount of bone marrow which is a liquid part in order to diagnose and monitor blood and marrow diseases. Thus, this assists in determining which mode of action to be continued for treatment, hence building up the orthobiologics market.
Market Growth
One of the most significant factor driving the use of orthobiologics is the increasing prevalence of several bone diseases, such as bone tumors and bone infections. In addition to this, several other medical conditions requires the administration of orthobiologics. The condition includes different types of traumas, bone lesions, also bone fractures. Thus, acting as a optimum treatment solution for the repair of bone defects, orthobiologic products supports the global market growth.
Regional Analysis
North America leads the orthobiologics market, commanding a hefty market share of 32.6% in 2023. The major companies in North America are totally focused to strategise the products and provide best outcomes for the patients. The rising incidences of regenerative bone disease, growing popularity of outpatient orthopaedic procedures and rising number of geriatric population foster the orthobiologic market substantially.
Furthermore, Cingal has been granted a new marketing authorization,allowing a viscosupplement to Europe, hence granting Europe with a second largest market in terms of sales. In addition to this, increase in research and development, innovation activities and orthobiologics awareness makes Asia-Pacific region to have a fastest growing orthobiologics market.
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Scope of the Report
| Report Attributes | Details |
| Market Value (2023) | USD 7.9 Billion |
| Forecast Revenue 2033 | USD 14.2 Billion |
| CAGR (2024 to 2033) | 6.0% |
| North America Share | 32.6% |
| Base Year | 2023 |
| Historic Period | 2018 to 2022 |
| Forecast Year | 2024 to 2033 |
Market Drivers
Knee osteoarthritis is the most common disease occurring in geriatric population, coupled with tendon tear, thus the growing geriatric population instigate the growth of orthobiologics market. Being a viable alternative to surgery, orthobiologics raises the therapies of organic or natural composition form in the human body to treat muscoskeletal issues like muscle injuries and ligament, bone fractures and osteoarthritis. Further, the rise of sport and physical injuries has prominently upscaled the demand in a positive way.
Market Restraints
After the approval of Medtronic Infuse, the only bone morphogenic protein in the market, by the Food and Drug Administration, the product has been subject to significant examination. The examination of the product resulted by virtue of serious complications associated with these products, thus negative effects of morphogenic protein based treatment therapies can impede the revenue share of the orthobiologics market. In addition to this, bone graft substitute is also associated with some limitations such as leading to adverse tissue reactions, insufficient bone formation and infection of soft tissue and bone. Furthermore, the high cost of orthobiologics based therapies can restrict the market growth substantially.
Opportunities
The emerging countries like South Africa, India and China are leveraged with healthcare industries coupled with rapidly growing geriatric population, increasing per capita incomes, high patient numbers and increased awareness. In addition to this, to improve the healthcare infrastructure and facilities there is a significant increase in investments by the major companies in the developed countries. Thus, this provides sky rocketing opportunities to the healthcare sector to capture the large revenue share during the forecast period.
Impact of Macroeconomic Factors.
The global orthobiologic market has come across a tremendous loss due to COVID 19 pandemic. The significant disruptions in their manufacturing and supply chain operations due to strict lockdowns and restrictions imposed by government around the world, resulted a negative growth of orthobiologics market worldwide. Consumer demand decreased as people removed non essential expenses from their budget as the general economic situation of most people has been adversely impacted by this outbreak. Thus, this situation led to rise in inflation, leading to the disturbances in economic growth of the orthobiologic market.
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Report Segmentation of the Orthobiologics Market
By Type Analysis
On the basis of product type, the orthobiologics market is fragmented into viscosupplements, synthetic biologics, bone growth factors and demineralized bone matrix. Amongst all these, the viscosupplements segment held a commanding position of 61.4%, dominating rest of the product types. The prominence owes to the rising incidence of degenerative arthritis and knee osteoarthritis among the geriatric population. Additionally, the upswinging reimbursement policies and approval of viscosupplements further drives the expansion of the orthobiologics market on a large scale.
On the other hand, synthetic bone segment leads the fastest growing orthobiologics market, attributed to the synthetic adaptation of the synthetic bone graft in developed countries like U.S.A and Europe.
By Application Analysis
The applications encircling the orthobiologic market includes spinal fusion, maxillofacial and dental, soft tissue injuries, reconstructive and fracture surgery. The spinal fusion segment dominates the global orthobiologic market accounting a large market share of 72.9%. This dominance owes to the increasing number of spinal fusion surgeries performed worldwide. Furthermore, the second largest market share is captured by reconstructive and fracture surgery segment growing with a moderate CAGR during the prophecy period. the dominance of this segment resulted by virtue of increased fractures due to pervasiveness of osteoporosis.
By End User Analysis
Based on end use, the market is disjointed into hospitals, ambulatory surgical centres and specialty centres. Hospitals and ambulatory surgical centres perform various reconstructive and spinal procedures aided by orthobiologics products. In addition to this, high patient turnover, frequent readmissions and high volume procedures also influenced the market. Further, the well equipped infrastructure in hospitals support the performance of precise procedure more securely and efficiently. Thus, these factors makes the hospitals and ambulatory segment to enclose a magnificient market share of 76.7%, dominating the orthobiologics market in a wide way.
Recent Development of the Orthobiologics Market
In March 2022: The introduction of NorthStar cervical and Flash navigation lumbar facet fusion orthobiologics systems was done by SeaSpine, in order to simplify reproducible procedural workflow and maximize the area for Osteostrand DBM fibres within the facet joint.
In January 2022: The first injectable bone void filler, MG OSTEOINJECT, was launced by Bone Solutions Inc. this void filler assists in crucial bone development and health component, promoting bone regeneration and repair in case of micro-fractures in insufficiency.
Market Segmentation
By Type
- Viscosupplements
- Synthetic biologics
- Bone growth factors
- Demineralized bone matrix
By Application
- Spinal fusion
- Maxillofacial and dental
- Soft tissue injuries
- Reconstructive and fracture surgery
By End-User
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centres
By Geography
North America
- US
- Canada
Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia
- Netherland
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- New Zealand
- Singapore
- Thailand
- Vietnam
- Rest of APAC
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
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Competitive Landscape
The global orthobiologics market is fragmented by the presence of many local and regional players. The top market players with strong brand recognition and high distribution networks leads the market significantly. Some of the major players in the global orthobiologics market are as follows:
- NuVasive Inc.
- Arthrex, Inc.
- Globus Medical, Inc.
- Bone Biologics, Corp.
- K2M Group Holdings, Inc.
- Orthofix Medical Inc.
- Bioventus Inc.
- Medtronic PLC
- DePuy Synthes, Inc.
- Bone Solutions Inc.
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