The Global Orthobiologics Market is accounted for USD 4,964 million in 2019 and expected to register 5.6% CAGR during the forecast period (2019–2024).
Orthobiologics are substances that are used by orthopedic surgeons to heal injuries more quickly. The orthobiologics are used to improve the tendons, ligaments, healing of broken bones and injured muscles. Also, these products are derived from substances that are naturally found in the body. When they are used in higher concentrations, orthobiologic substances help speed up the healing process.
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The increasing cases of trauma and sports injury, demand for biologics in minimally invasive procedures, approval of products, and raising awareness are expected to drive the growth of the global orthobiologics market during the forecast period. Moreover, emerging technological innovations in biomaterials, rising obese and geriatric population, and rising research and development activities by top players such as mergers, expansion, and collaboration for the development of new products and launches by major players are also boosting the growth of the market. For instance, according to the data provided by U.S. Department of Commerce, in 2015, the total population above the age 60 was around 902.28 million, whereas, in 2018, the total population above the age of 60 are around 991.24 million. The population above 60’s year are growing with a rate of 3.18% per years.
However, less reimbursement policy may hamper the growth of the market during the assessment period.
Regional Analysis
The market is likely to dominate by Americas during the forecast period owing to the well-established healthcare infrastructure, rising incidences of spinal disorders, obese and geriatric population, and preference for minimally invasive procedures.
Europe is expected to be the second-largest market in the global orthobiologics market due to the rising adoption of newly introduced treatment procedures and technologies by a physician and patient awareness, government funding and support of the healthcare sector.
The Asia-Pacific market is likely to hold a significant market share in the orthobiologics market. The rising demand for advanced treatment, awareness and increasing investment in healthcare are responsible for the growth of this market in the region.
The market in the Middle East & Africa is expected to account for the smallest orthobiologics market share due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Segmentation
The global orthobiologics market has been segmented on the basis of product, application, end-user, and region.
Based on product, the market has been classified as a Demineralized bone matrix (DBM), Bone morphogenetic protein (BPM), Allograft, Viscosupplementation products, Synthetic bone substitutes, and Others.
Global orthobiologics market on the basis of application has been segmented into Osteoarthritis & degenerative arthritis, Spinal fusion, Fracture recovery, Soft tissue injuries, and Others.
Based on end-user, the market has been segmented into Hospitals, Orthopedic Clinics, and Others.
Key Players
Some of the key players in the global orthobiologics market are Arthrex, Inc., Exactech, Inc., Globus Medical Inc., Integra LifeSciences, Johnson & Johnson, Medline Industries, Inc., NuVasive, Inc., Stryker Corporation, Wright Medical Group N.V., Zimmer Biomet, and Others
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