Key companies covered in the Orthobiologics Market Research report include Stryker, Sea Spine, Zimmer Biomet, Bioventus, RTI Surgical Holdings, Inc., DePuy Synthes (Johnson & Johnson Services, Inc.), Wright Medical Group N.V.
Pune, July 01, 2019 (GLOBE NEWSWIRE) -- The global Orthobiologics Market is anticipated to witness considerable growth with the rising number of cases regarding sports injuries and road accidents. Fortune Business Insights published the information in a recent report, titled “Orthobiologics Market Size, Share and Global Trend by Product Type (Viscosupplements, Bone Growth Stimulators, Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cells, Allografts), Application (Spinal Fusion, Maxillofacial & Dental, Soft Tissue Repair, Reconstructive & Fracture Surgery), End User (Hospitals, Ambulatory Surgical Centers, Speciality Clinics) and Geography Forecast till 2026” which predicts the global market to expand at a CAGR of 4.5% in the forecast years. As per the report, the global market was worth US$ 5830.1 Mn in the year 2017 and is estimated to reach a value of US$ 8261.6 Mn by 2026.
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Viscosupplements likely to Remain Strong in Terms of Share till 2026
The rising demand for orthobiologics products such as bone growth stimulators, viscosupplements, synthetic bone substitutes, stem cells, allograft, and others are expected to drive the Orthobiologics Market. Among these, viscosupplements are likely to lead the global market. This is primarily on account of increasing prevalence of knee osteoarthritis, especially in geriatric population. Moreover, the product covered a share of 32.1% in the global Orthobiologics Market. Improvements in reimbursements policies regarding approvals on viscosupplements is favoring the growth of this segment. Recent marketing approvals and entry of new manufacturers are some of the other factors responsible for encouraging growth in this segment.
The rise in the number of trauma cases is expected to augment demand for stem cell products between 2017 and 2026.
North America Emerges as Most Lucrative Region Owing to Rising Cases of Obesity
In 2018, the market in North America was valued at US$ 2326.2 Mn. Fortune Business Insights predicts North America to continue leading the market through the forecast period. This region has the most favourable reimbursement policies, which drives the market. Furthermore, the region has witnessed a considerable rise in the number of obese people over the years, which in turn, will result in the increasing number of orthopaedic surgeries among outpatients. Also, companies in the U.S. are adopting business strategies to increase the market share, which is expected to boost the market in North America. Trailing North America, Europe is the second-leading region covering a substantial share in the global market. This is ascribable to a recent approval of viscosupplements called Cingal in Europe. The market in Asia Pacific is also expected to offer growth opportunities mainly on account of rising demand for viscosupplements especially in India.
Introduction of 3D Printed Implant Technology in Orthopaedic Surgeries Triggers Growth in the Market
“The emergence of advanced technology is expected to boost the Orthobiologics Market during the forecast duration,” commented a lead analyst at Fortune Business Insights. “Introduction of a technology called 3D printed implant helps to enhance clinical outcomes by reducing the surgery time and offering better stability for orthopedic surgeries,” he added. This technology helps to treat tendon and spinal injuries with minimal invasions.
The increasing incidence of musculoskeletal diseases is likely to give rise to orthopedic surgeries. This, in turn, is indicative of growing demand for orthobiologics treatment. As per a study by the World Health Organization, in 2017, fatal falls were the second-leading cause for fractures and accidental injuries. The rising incidence of falls is expected to increase the chances for fractures, thus fueling demand for orthobiologics solutions. Companies are anticipated to develop new orthobiologic products such as orthobiologic injections to heal injured ligaments, muscles, and fractures within a short span. This is further expected to push the growth of the market by 2026.
Post-surgery Complications to Restrict the Growth by 2026
Mounting cost associated with orthobiologic procedures is expected to affect the market’s growth in the coming years. Moreover, post-surgery hitches witnessed by some of the orthobiology surgical centers may impede the growth and hamper the usage of orthobiologics. Also, strict regulatory approvals for orthobiologics and less number of clinical trials are some other factors that may pose a serious threat to the Orthobiologics Market.
Bioventus Develops Next-Generation Orthobiological Solution to Treat Chronic Injuries
In 2018, a global leader of orthobiologics solutions - Bioventus signed an agreement with a division of LifeLink Foundation Inc. called LifeLink Tissue Bank last year. The aim was to develop a next-generation bone allograft orthobiologic solution for patients suffering from trauma or spine injuries. Companies have also received FDA approvals for the treatment of spine injuries. For instance, Medtronic recently launched a protein called Infuse Bone Morphogenetic which is used for diagnosing spine surgeries. In addition to this, the company is expected to hold the majority of share in the global Orthobiologics Market. Some of the other leading players in the global market are Stryker, Sea Spine, Zimmer Biomet, Bioventus, RTI Surgical Holdings, Inc., DePuy Synthes (Johnson & Johnson Services, Inc.), Wright Medical Group N.V.
Key Companies Covered in The Report
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