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.
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.
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The Global Orthobiologics Market forecast 2027 is accounted for USD 4,964 million in 2019 and expected to register 5.6% CAGR during the forecast period.
However, less reimbursement policy may hamper the growth of the market during the assessment period.
Orthobiologics Market Segmentation
The global orthobiologics market has been segmented on the basis of product, application, end-user, and region.
On the basis of product, the market has been classified as a Demineralized bone matrix (DBM), Bone morphogenetic protein (BPM), Allograft, Viscosupplementation products, Synthetic bone substitutes, and Others.
Based on application, the market has been divided into Osteoarthritis & degenerative arthritis, Spinal fusion, Fracture recovery, Soft tissue injuries, and Others. By application spinal fusion segment dominant, the market in 2018 due to increasing sports-related injuries, the prevalence of spine and traumatic injuries, and accidents.
By end user, the market has been segmented into Hospitals, Orthopedic Clinics, and Others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The orthobiologics market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European orthobiologics market has been segmented into Western Europe and Eastern Europe. Western Europe has been sub-segmented into Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The orthobiologics market in Asia-Pacific has been divided into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The orthobiologics market in the Middle East & Africa has been segmented into the Middle East and Africa.
Orthobiologics Regional Market Summary
Americas is likely to dominate the orthobiologics market during the forecast period owing to the advanced technologies, increasing funding & investments by major players, and rising prevalence of sports-related injuries & injuries caused due to falls and accidents. For instance, according to the report published by the American Orthopaedic Society for Sports Medicine in 2017, around 3.5 million kids below age 14 obtain medical treatment for sports injuries each year.
The European are likely to be the second-largest market in the global orthobiologics market owing to the rising geriatric population, government funding and support of the healthcare sector coupled with increasing research and development, and rising awareness.
The Asia-Pacific market is expected to hold a significant share in the orthobiologics market. The market growth in this region can be attributed to the rise in demand for advanced treatment, awareness of orthobiologics, and rising investments in healthcare. Also, countries such as India and China are considering the fastest growing region due to a government focused toward adopting advance treatment from a developed country.
The market in the Middle East & Africa is expected to account for the smallest share of the global orthobiologics market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.
Orthobiologics Market 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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