(PharmaNewsWire.Com, April 29, 2020 ) The global orthobiologics market is projected to reach USD 6.06 Billion by 2022 from USD 4.66 Billion in 2017, at a CAGR of 5.4% during the forecast period.
The orthobiologics Market report analyzes and studies the major drivers, restraints, opportunities, and challenges of the orthobiologics market in North America, Europe, Asia Pacific, and the Rest of the World (RoW). Factors such as rising burden of orthopedic injuries; increasing incidence of sports injuries and road accidents; increasing incidence of spinal fusion surgeries; risk factors associated with increasing aging population, obesity rate, & high incidence of musculoskeletal disorders; and growing patient preference for minimally invasive procedures are driving the orthobiologics market. However, high cost pertaining to orthobiologics based treatment is the major factor restraining the Orthobiologics market growth to a certain extent.
Based on product, the viscosupplementation products segment is estimated account for the largest segment of the Orthobiologics Market in 2017
On the basis of product, the orthobiologics market is segmented into allografts, synthetic orthobiologics, plasma-rich protein (PRP), bone marrow aspirate concentrate (BMAC), demineralized bone matrices (DBM), bone morphogenic protein (BMP), and viscosupplementation products. The viscosupplementation products segment is expected to account for largest share of the orthobiologics market in 2017. The large share of this segment can be attributed to the increasing incidence of osteoarthritis of the knee and hip joints among the baby boomer population and lower cost of viscosupplementations.
Based on application, the osteoarthritis and degenerative arthritis segment expected to account for the largest share of the Orthobiologics market in 2017
Based on application, the orthobiologics market is segmented into fracture recovery, osteoarthritis & degenerative arthritis, spinal fusion, soft tissue injuries, and maxillofacial & dental applications. The osteoarthritis and degenerative arthritis segment is estimated to command the largest share of the global orthobiologics market in 2017. The large share of this segment is mainly due to factors such as the significant rise in target patient population across major markets, rising public awareness related to clinical side effects associated with oral medications for pain management, clinical advancements in OA management methodologies, robust healthcare infrastructure & facilities for specific joint replacement surgeries across major markets, and growing clinical evidence validating the efficacy of biologics in OA treatment.
In 2017, North America is expected to account for the largest share of the orthobiologics market
Geographically, the orthobiologics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to account for the largest share of the global orthobiologics market in 2017. The growth of this region is attributed to rising incidence of orthopedic and spinal disorders; increasing geriatric population coupled with obesity; growing population exposure to key risk factors; rising number of spinal fusion surgeries and rising patient preference for minimally invasive orthopedic therapies over invasive grafting procedures; and growing physician and patient awareness about the newly introduced treatment procedures and technologies.
The major players in the Orthobiologics Market are DePuy Synthes, Medtronic, Stryker, Zimmer Biomet, Harvest Technologies, Globus Medical, Orthofix International, RTI Surgical, K2M Group, Kuros Biosciences, Bioventus, NuVasive, SeaSpine, Arthrex, and Xtant Medical.
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