The North America Orthobiologics Market size was worth USD 1.61 billion in 2023 and is estimated to be growing at a CAGR of 5.46% to reach USD 2.10 billion by 2028.
The Orthobiologics market in North America is majorly driven by the growing aging population suffering from osteoarthritis. This disease is the most common joint disorder in North America and affects 10% of men and 13% of women aged above 60. Technological advancements by the major companies operating in the market are further accelerating the Orthobiologics market in North America.
Adopting a sedentary lifestyle and changes in food habits leads to the increasing number of orthopedic-related diseases that escalate the demand of the North American orthobiologics market. Creating awareness over the benefits associated with orthobiologics is leveling up the growth rate of the market. Orthopedic surgeons use these orthobiologics as drugs to speed up the recovery time. The usage of these drugs is going higher in the US, promoting the demand of the market in North America. Orthopedic problems are more common among the geriatric population, where increasing older people in North America are ascribed to bolster the market's demand.
Additionally, the growing occurrence rate of sports injuries, road accidents, and the rising adoption of minimally invasive surgeries are also swelling the market's growth rate. Health problems such as over-weight and improving economic conditions are estimated to support the market in North America.
High costs associated with and strict regulations for the devices and products' approval procedure restrict the market growth to a small extent. Lack of reimbursement policies, lack of awareness among people who live in rural areas, and shortage of professional orthopedics during surgery and treatment are likely to obstruct the North American Orthobiologics market growth.
This research report on the North America Orthobiologics Market has been segmented & sub-segmented into the following categories:
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Regionally, North America has the largest market for orthobiologics in the world by share. In the North American region, the United States has the largest share. Factors such as the growing incidence of musculoskeletal and orthopedic diseases and rising government support are expected to drive the region's market growth.
The U.S. Orthobiologics market had accounted for the largest market share in the North American market in 2022. The growing awareness actively drives the United States market in people regarding the advantages of orthobiologics and their changing importance from mechanical implants to biological implants. Advancements in technology, growing funds, and investments towards the market and few players are expected to enter the forthcoming years.
The Canadian Orthobiologics market is expected to hike at a CAGR of 8.3% due to increasing awareness in people about the advantages like faster bone healing, decreased number of hospital visits, and quick recovery in this region. Moreover, the growth in this country is also driven by growing investments related to research, which helps develop this region. Furthermore, increasing orthopedic diseases incorporated with an increasingly aging population foster the orthobiologics market in this region.
Major companies leading the North American Orthobiologics Market profiled in this report are Medtronic, DePuy Synthes, Zimmer Biomet, Bioventus, Stryker, Harvest Technologies, Globus, Orthofix International, RTI Surgical, K2M Group, Kuros Biosciences, among others.
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