(PharmaNewsWire.Com, May 29, 2020 ) The global orthobiologics market is expected to grow at a CAGR of 5.4% between 2017 and 2022. 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
Analysis of the market developments between 2014 and 2017 revealed that several growth strategies such as product launches, strategic acquisitions, agreements, contracts, partnerships, collaborations, and market expansions are adopted by the market players to strengthen their product portfolios and maintain a competitive position in the orthobiologics market. Among these business strategies, product showcases, product launches, partnerships, and agreements were the most widely adopted growth strategies.
Medtronic plc (Ireland) is a leader in the orthobiologics market with its synthetic bone graft substitutes and bone morphogenetic proteins products. Its among the only companies providing BMP. The company has a wide geographic presence across 155 countries. Medtronic primarily focuses on organic and inorganic business strategies such as product approvals, product launches, and acquisitions. In 2015, Medtronic received the FDA approval for additional indications [such as certain spine implants made of polyetheretherketone (PEEK), anterior lumbar interbody fusion (ALIF), and in oblique lateral interbody fusion (OLIF) procedures] for its Infuse Bone Graft, which helped the company market its product in the US. However, the company’s portfolio falls short in offering orthobiologics, such as PRP and viscosupplement products.
DePuy Synthes, Inc. (US) is another leading market player with its advanced range of orthobiologics. The company offers orthobiologics for spinal fusion surgeries, sports injuries, and trauma injuries. The company focuses on new product launches to enhance its presence in the orthobiologics market. During 2014–2017, the company launched various orthobiologics, including CONFORM SHEET, ViviGen Formable Cellular Bone Matrix, MONOVISC High Molecular Weight Hyaluronan, and the PEAK Platelet Rich Plasma (PRP) System.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
