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The global orthobiologics market is projected to register a CAGR of about 5.4% during the forecast period, 2018-2023. Orthobiologics are used by orthopedic surgeons to help injuries heal more quickly. They are used to quicken the healing of broken bones and injured muscles, tendons, and ligaments. These products are made from substances that are naturally found in our body.
Increasing Patient Preference for Minimally Invasive Procedures
Orthobiologic therapy is a minimally invasive therapy and one of the components of regenerative medicine that are used to treat several musculoskeletal ailments, including degenerative osteoarthritis. Lately, orthobiologics have come to be known as one of the prominent treatment option for early osteoarthritis (OA) of the knee. The interests about orthobiologcs in the medical community and growing research in the field of regenerative medicine, coupled with promising clinical results from the use of orthobiologics are helping to make the clinical applications of this treatment more diverse every day. Biological therapy or cellular arthroplasty is evolving rapidly in the management of OA. Repair of damaged cartilage and biological restitution can be possible by the judicious use of autologous biological products. This will help the orthobiologics market to flourish during the forecast period.
High Cost Associated with Orthobiologics-Based Treatments
Treatments involving orthobiologics are expensive and often not covered by the governments. This is owing to the fact that this form of treatment is relatively new and there have not been enough studies to prove their efficacy and effectiveness in treating the patients. Also, the possibility of alternative form of treatments mean that patients who are skeptical about this form of treatment can opt for other alternative treatments available. This will lead to the slowdown of the growth of this market.
North America to Maintain Lead in the Market
North America is expected to command the largest share of the market in 2017 due to the increasing incidence of spinal disorders, rising geriatric and obese population, growing preference for minimally invasive procedures, and growing physician and patient awareness about newly introduced treatment procedures and technologies. However, Asia Pacific is expected to register the highest growth rate during the forecast period. The presence of a large geriatric and target patient population, high incidence of osteoarthritis and obesity, increasing government spending on healthcare, and improving healthcare infrastructure are some of the major factors driving the growth of the Asia Pacific orthobiologics market.
Key Developments:
• February 2018 - A conference was comducted that focused on orthobiologics at the Orthobiologic Singularity event, orthopedic medicine from invasive to regenerative.
• Sep 2017 - Bioventus, a global leader in orthobiologic solutions, announced that the US FDA approval was granted for DUROLANE, a single-injection, hyaluronic acid.
Major Players: ARTHREX, INC., DEPUY SYNTHES (A SUBSIDIARY OF JOHNSON & JOHNSON), GLOBUS MEDICAL, INC., HARVEST TECHNOLOGIES CORPORATION (A TERUMO BCT COMPANY), K2M GROUP HOLDINGS, INC., MEDTRONIC PLC., RTI SURGICAL INC., SEASPINE HOLDINGS CORPORATION, STRYKER CORPORATION, AND ZIMMER BIOMET HOLDINGS INC, amongst others.
Reasons to Purchase the Report
• Current and future orthobiologics market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Increasing Patient Preference for Minimally Invasive Procedures
Orthobiologic therapy is a minimally invasive therapy and one of the components of regenerative medicine that are used to treat several musculoskeletal ailments, including degenerative osteoarthritis. Lately, orthobiologics have come to be known as one of the prominent treatment option for early osteoarthritis (OA) of the knee. The interests about orthobiologcs in the medical community and growing research in the field of regenerative medicine, coupled with promising clinical results from the use of orthobiologics are helping to make the clinical applications of this treatment more diverse every day. Biological therapy or cellular arthroplasty is evolving rapidly in the management of OA. Repair of damaged cartilage and biological restitution can be possible by the judicious use of autologous biological products. This will help the orthobiologics market to flourish during the forecast period.
High Cost Associated with Orthobiologics-Based Treatments
Treatments involving orthobiologics are expensive and often not covered by the governments. This is owing to the fact that this form of treatment is relatively new and there have not been enough studies to prove their efficacy and effectiveness in treating the patients. Also, the possibility of alternative form of treatments mean that patients who are skeptical about this form of treatment can opt for other alternative treatments available. This will lead to the slowdown of the growth of this market.
North America to Maintain Lead in the Market
North America is expected to command the largest share of the market in 2017 due to the increasing incidence of spinal disorders, rising geriatric and obese population, growing preference for minimally invasive procedures, and growing physician and patient awareness about newly introduced treatment procedures and technologies. However, Asia Pacific is expected to register the highest growth rate during the forecast period. The presence of a large geriatric and target patient population, high incidence of osteoarthritis and obesity, increasing government spending on healthcare, and improving healthcare infrastructure are some of the major factors driving the growth of the Asia Pacific orthobiologics market.
Key Developments:
• February 2018 - A conference was comducted that focused on orthobiologics at the Orthobiologic Singularity event, orthopedic medicine from invasive to regenerative.
• Sep 2017 - Bioventus, a global leader in orthobiologic solutions, announced that the US FDA approval was granted for DUROLANE, a single-injection, hyaluronic acid.
Major Players: ARTHREX, INC., DEPUY SYNTHES (A SUBSIDIARY OF JOHNSON & JOHNSON), GLOBUS MEDICAL, INC., HARVEST TECHNOLOGIES CORPORATION (A TERUMO BCT COMPANY), K2M GROUP HOLDINGS, INC., MEDTRONIC PLC., RTI SURGICAL INC., SEASPINE HOLDINGS CORPORATION, STRYKER CORPORATION, AND ZIMMER BIOMET HOLDINGS INC, amongst others.
Reasons to Purchase the Report
• Current and future orthobiologics market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• The segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
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