Orthobiologics materials are made from substances naturally found in the human body. Usages of these substances help to cure injuries rapidly. Hence orthobiologics are extensively used in surgeries and treatments of osteoarthritis & degenerative arthritis, spinal fusion, fracture recovery, soft tissue injuries, and to treat other bone-related injuries such as the broken bones along with injured muscles, tendons, and ligaments.
In addition, to a speedy recovery, using orthobiologics in conservative therapies ensures the lesser impact of degenerative disease. Moreover, orthobiologic procedures can be completed in OPDs (Outpatient Department), and recovery is faster than surgery. Besides, a larger part of orthobiologic treatments is covered by insurance. As a result, the global orthobiologics market garners tremendous traction worldwide.
Moreover, the massive consumption of orthobiologics in the healthcare sector for a range of medical applications and rising awareness towards the benefits of these materials accelerate market growth. According to a leading research firm - Market Research Future (MRFR), the global orthobiologics market is projected to reach USD 4,964 MN by the end of 2019. MRFR, in its recently publishes study report, also asserts that the market would register around 5.6% CAGR during the forecast period (2019–2024).
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Competitive Analysis
Globus Medical Inc., Arthrex, Inc., Exactech, Inc., Johnson & Johnson, Wright Medical Group N.V., Zimmer Biomet, Medline Industries, Inc., Integra Life Sciences, Stryker Corporation, NuVasive, Inc., and others are some of the prominent names in the orthobiologics market. These companies are known for their substantial strategic involvement in taking the global market forward. Mostly, these companies rely on methods like innovation, better investment in research and development, merger, tie-up, branding, launching, acquisition, and others. MRFR recorded their moves to understand more about trends that can impact the global market.
Segmentation
The global orthobiologics market has been studied on the basis of a segmentation made by MRFR experts. The segmentation includes product, application, and end-user and they have been enriched by figures, charts, graphs, and others.
- By Product, the global market on the orthobiologics has been segmented into bone morphogenetic protein (BPM), synthetic bone substitutes, demineralized bone matrix (DBM), viscosupplementation products, allograft, and others.
- By Application, the global market study has been segmented on the basis of an understanding of segments like spinal fusion, soft tissue injuries, fracture recovery, osteoarthritis & degenerative arthritis, and others. The spinal fusion segment was the dominant sector in 2018 as it was getting traction from spinal injuries from sports-related accidents, traumatic injuries, and accidents.
- By End user, the global report includes a proper study of segments like hospitals, orthopedic clinics, and others.
Regional Analysis
North America dominates the global orthobiologics market, owing to the technological advancements, increasing funding & investments, and rising prevalence of bone injuries caused due to accidents. Heading with favorable government regulations that are growing integration for orthobiologics, the region is would retain its leading position throughout the assessment period.
Simultaneously, rising numbers of orthopedic surgeries, alongside, the increasing geriatric populace, boost the growth of the regional market, leading to an increase in the patient population. Furthermore, increasing awareness among people and the rising demand for technologically advanced treatments and products enhances the growth of the regional market.
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Europe stands second in the global orthobiologics market. Factors such as the increased research & development activities in the field backed by government support and funds, attribute to the regional market growth. The availability of innovative treatment facilities alongside, the rising research initiatives in the field of orthopedic biomaterials is fostering the market growth in the region. Moreover, increasing orthopedic surgeries with growing awareness among populations regarding healthcare.
The orthobiologics market in the Asia Pacific region is rapidly emerging as a promising market globally. Continually rising population and the burgeoning medical treatment market in the region attribute to the regional market growth. Growing markets in India and China backed by the increasing awareness & improved healthcare services provide impetus to the market growth. Besides, the improved economy in the region drives the growth of the orthobiologics market, colossally, creating various growth opportunities.
