Orthobiologics Market to Hit USD 13.20 Billion by 2030 as a Result of Rising Prevalence of Musculoskeletal Disorders and Shift towards Minimally Invasive Procedures | Research by SNS Insider
As per SNS Insider’s research, the orthobiologics market’s robust growth is underpinned by a synergy of factors, ranging from continuous research and development to the rising prevalence of musculoskeletal disorders.
Pune, Oct. 31, 2023 (GLOBE NEWSWIRE) —
“The Orthobiologics Market was valued at USD 8.56 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030, reaching USD 13.20 billion by the end of the forecast period, as per the SNS Insider report.”
Orthobiologics refers to biological substances that are used to help musculoskeletal injuries and conditions heal more quickly. These substances are naturally found in the human body and include growth factors, stem cells, and other natural cellular materials. Orthobiologics are used to treat a variety of orthopedic injuries, including tendon and ligament tears, muscle strains, and joint injuries. These therapies accelerate the healing process, allowing patients to regain mobility and functionality faster. Orthobiologics are increasingly used in the treatment of spinal conditions such as herniated discs and degenerative disc disease. Stem cell therapies aid in repairing damaged spinal discs, offering hope to patients who previously had limited treatment options.
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Key Company Profiles Listed in this Report are:
- Medtronic PLC
- Exactech Inc.
- Synthes Inc.
- Stryker Corporation
- Zimmer Biomet
- Smith & Nephew PLC
- Tornier Inc.
- DePuy Synthes Inc.
- RTI Surgical Inc.
- Bioventus LLC & Other Players
Continuous advancements in orthobiologics research have paved the way for the development of novel therapies and products. Researchers are constantly exploring new biological materials and techniques, leading to the creation of innovative orthobiologic solutions. This influx of cutting-edge research has not only expanded the market but also enhanced the effectiveness of orthobiologic treatments. Increased awareness among patients about the benefits of orthobiologics has driven the demand for these therapies. Patients are now more informed about available treatment options and are actively seeking regenerative solutions for their musculoskeletal conditions. This heightened demand acts as a catalyst, encouraging further research and investment in the orthobiologics market. Collaborations between pharmaceutical companies, research institutions, and healthcare providers have significantly contributed to the expansion of the market. These partnerships foster knowledge exchange, facilitate clinical trials, and drive the commercialization of innovative orthobiologic products. Such collaborations enhance the overall growth and development of the industry.
Orthobiologics Market Report Scope:
|Market Size in 2022||US$ 8.56 Bn|
|Market Size by 2030||US$ 13.20 Bn|
|CAGR||CAGR of 5.6% From 2023 to 2030|
|Key Regional Coverage||North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America|
Key Takeaway from Orthobiologics Market Study
- The market has witnessed significant growth, with bone morphogenetic proteins (BMPs) emerging as a dominant segment. BMPs are essential signaling proteins that play a pivotal role in bone development and regeneration. The orthobiologics industry has harnessed the potential of BMPs to revolutionize the treatment of various musculoskeletal disorders, fractures, and spinal injuries.
- The orthobiologics market is witnessing a significant paradigm shift, with soft tissue injuries emerging as a dominant force shaping its landscape. Characterized by the use of biological substances to aid in the healing and regeneration of musculoskeletal tissues, orthobiologics have gained traction in the medical community.
- Locat Bio has achieved a significant milestone in the field of medical science. The company has been granted the prestigious FDA breakthrough designation for their innovative spinal fusion treatment. Locat Bio’s spinal fusion treatment has evidently met and exceeded these rigorous standards, showcasing its effectiveness and potential to redefine the future of spinal surgery.
- Elutia, a leading player in the healthcare industry, has recently made a significant announcement. The company revealed its decision to sell its Orthobiologics Business Unit, a move that has caught the attention of industry experts and investors alike. The sale is set to bring substantial cash proceeds, with a staggering sum of up to $35 million anticipated.
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Market Dynamics Analysis
In the dynamic landscape of orthobiologics, the market is continually shaped by a multitude of factors, with a delicate balance between drivers, restraints, challenges, and potential threats. At the heart of the orthobiologics market dynamics are the drivers, propelling the industry’s growth. One key driver is the increasing prevalence of musculoskeletal disorders and sports injuries, compelling a growing number of patients to seek minimally invasive and effective treatment options, thus boosting the demand for orthobiologics. Moreover, advancements in biotechnology and regenerative medicine have led to innovative product developments, fostering market expansion. The rising aging population globally also acts as a driver, as elderly individuals often require orthobiologic treatments for degenerative joint diseases. On the flip side, the market faces restraints in the form of stringent regulatory guidelines governing the approval and commercialization of orthobiologic products. This can pose challenges for manufacturers, delaying product launches and market entry. Additionally, the high cost associated with orthobiologic therapies acts as a barrier for budget-constrained healthcare systems and patients. Furthermore, there are challenges in the form of limited awareness among patients and physicians regarding the benefits and availability of orthobiologics, hindering their adoption. In terms of threats, market saturation and the emergence of alternative therapies could divert demand away from orthobiologics. Additionally, intellectual property issues and the entry of counterfeit products into the market pose significant threats, impacting the credibility and safety of orthobiologic treatments.
Orthobiologics Market Key Segmentation
By Product Type
- Bone Morphogenetic Protein
- Demineralized Bone Matrix
- Viscosupplementation Products
- Synthetic Bone Substitutes
- Soft tissue injuries
- Spinal fusion
- Osteoarthritis and degenerative arthritis
- Fracture healing
- Maxillofacial & Dental applications
By End User
- Research and academic institutions
- Hospitals and ambulatory centres
- Dental clinics
Key Regional Developments
North America stands at the forefront of the orthobiologics market, owing to the presence of advanced healthcare infrastructure, robust research and development activities, and high healthcare expenditure. The region’s market growth is propelled by increasing cases of sports injuries, arthritis, and orthopedic surgeries. Europe represents a lucrative market for orthobiologics, driven by a rising aging population and the prevalence of orthopedic conditions. Countries such as Germany, the UK, and France are witnessing substantial growth due to advanced healthcare facilities and reimbursement policies. The Asia-Pacific region is emerging as a promising market for orthobiologics, fueled by growing healthcare investments, rising disposable income, and an expanding patient pool. Countries like China, Japan, and India are witnessing a surge in orthopedic surgeries, augmenting the demand for orthobiologic products.
Impact of Recession on Orthobiologics Market Growth
The recession could lead to delayed regulatory approvals and increased scrutiny, making it harder for new orthobiologics products to enter the market. Stringent regulations can slow down research and development initiatives, hindering innovation in the industry. Orthobiologics companies can explore cost-effective production methods to make their products more affordable. Additionally, investing in distribution networks in emerging markets can enhance accessibility, ensuring a broader customer base. Collaborations between orthobiologics companies, research institutions, and healthcare providers can foster innovation. By pooling resources and expertise, these collaborations can lead to the development of breakthrough products and therapies, stimulating orthobiologics market growth.
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Table of Contents
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Orthobiologics Market Segmentation, By Product Type
9. Orthobiologics Market Segmentation, By Application
10. Orthobiologics Market Segmentation By End User
11. Regional Analysis
12. Company profile
13. Competitive Landscape
14. Used Cases and Best Practices
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