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Orthobiologics market to grow by USD 2.63 billion from 2022 to 2027; 41% of the market growth to originate from North America – Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ –The orthobiologics market is expected to grow by USD 2,638.44 million from 2022 to 2027, according to Technavio. As per the latest report, the market will progress at a CAGR of 7.88% during the forecast period. The increase in the development of new products is a key trend in the market’s growth. Various vendors offering orthobiologics such as SeaSpine Holdings Corp, and Bioventus LLC are focusing on developing new products to cater to customers with specific requirements. Furthermore, the rise in popularity of orthobiologics will drive market growth. Also, some of the innovative ortho biologics 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 over the forecast period. View a Sample Report within minutes!

Orthobiologics Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our ortho biologics market report covers the following areas:

Orthobiologics Market 2023-2027: SegmentationOrthobiologics Market is segmented as below:

  • Application 
    • Spinal Fusion
    • Reconstructive Surgery
    • Trauma Repair
    • Others
  • Product 
    • Bone Graft Substitutes
    • Viscosupplementation
    • Stem Cells
  • Geography 
    • North America
    • Europe
    • Asia
    • Rest Of World (ROW)

The market share growth by the spinal fusion segment will be significant for overall market growth 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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Orthobiologics market: Increasing prevalence of orthopedic disorders to drive growth

  • The increasing prevalence of orthopedic disorders coupled with an aging population is a key factor driving the growth of the market. 
  • 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.

Orthobiologics market: High costs and inadequate reimbursements for orthobiologics products and procedures

  • The high costs and inadequate reimbursements for orthobiologics products and procedures challenge the growth of the market. 
  • The growing geriatric population, combined with a growth in the number of orthopedic illnesses boost the demand for orthobiologics.
  • Furthermore, inadequate orthobiologic reimbursement is another key reason for the poor usage of these treatments and devices.
  • For example, the reimbursement for orthobiologics is complex in the US due to stringent FDA regulations and the multi-payor system.
  • Hence, the impact of these factors, however, is expected to reduce in the near future, as many manufacturers are planning to develop affordable orthobiologics products. 

What’s New? –

  • Special coverage on the RussiaUkraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
  • Global competitiveness and key competitor positions
  • Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Orthobiologics Market 2023-2027: Company Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. We provide a detailed analysis of around 25 vendors operating in the Orthobiologics Market, including some of the vendors such as 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. Backed with competitive intelligence and benchmarking, our research reports on the Orthobiologics Market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

Company Offerings

  • Advanced Medical Solutions Group Plc: The company offers orthobiologics solutions that include synthetic bone substitutes, collagen membranes, and bioabsorbable screws.
  • Anika Therapeutics Inc.: The company offers orthobiologics solutions, including early intervention orthopedic care, osteoarthritis pain management, regenerative solutions, soft tissue repair, and bone-preserving joint technologies.
  • Bioventus LLC: The company offers orthobiologics solutions that include a fully automated system, which utilizes 3-sensor technology (3ST) and one-button automation to prepare customized platelet-rich plasma (PRP) formulations.

Orthobiologics Market 2023-2027: Key Highlights

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will assist orthobiologics market growth during the next five years
  • Estimation of the orthobiologics market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the orthobiologics market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of orthobiologics market vendors

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Related Reports:

  • The Global Orthopedic Device Market size is estimated to grow by USD 12.11 billion between 2022 and 2027, accelerating at a CAGR of 3.85%. This orthopedic device market research report extensively covers market segmentation by application (spine, knee, hip, extremities, and others), product (orthopedic implants and support devices and orthobiologics), and geography (North America, Europe, Asia, and Rest of World (ROW)). The increase in the target population with orthopedic disorders, trauma, and sports injuries is notably driving the market growth. 
  • The invisible orthodontics market share in North America is expected to increase to USD 1.05 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.1%. Furthermore, this report extensively covers the market segmentation by, product (clear aligners, ceramic braces, and lingual braces) and geography (US, Canada, and Mexico). The increasing number of dental conditions is one of the key drivers supporting North America’s market growth.

Orthobiologics Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.88%

Market growth 2023-2027

USD 2,638.44 million

Market structure

Fragmented

YoY growth 2022- 2023 (%)

6.95

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 41%

Key countries

US, Canada, UK, Germany, and China

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

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.

Table Of Contents :

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Product

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix
 

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

Originally published at https://www.prnewswire.com/news-releases/orthobiologics-market-to-grow-by-usd-2-63-billion-from-2022-to-2027–41-of-the-market-growth-to-originate-from-north-america—technavio-301904056.html
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