The size of the Global Orthobiologics Market is forecasted to grow USD 6.44 Billion by 2025 from USD 4.93 billion in 2020. This market is estimated to be growing at a CAGR of 5.48% from 2020 to 2025. The industry is primarily driven by the increasing number of orthopaedic procedures globally as a consequence of an upsurge in accidents and obesity. The growing geriatric population base, highly suspects to spinal and other orthopaedic disorders are also contributing to the rising number of orthopaedic procedures.
As per the American Academy of Orthopedic Surgeons, in 2006, hip and knee replacements are anticipated to rise to 174% and 673% respectively, in the next 20 years. According to this study, the growth in orthopaedic procedures will be in high demand for orthobiologics in following years.
MARKET DRIVERS
Autologous blood, Bone grafts, and autologous conditioned serum are some of the Orthobiologics. Also, rising mechanical advancements in biomaterials that are utilized as a part of the generation of Orthobiologics are predicted to drive the market in forecasted years.
Developing orthopaedic ailment and musculoskeletal disease complexity are driving the market upwards in North America. Besides, rising mechanical advancements in biomaterials, which are utilized as a part of the generation of Orthobiologics are relied upon to quicken the market request amid the gauge time frame.
Growing awareness towards the long-term orthopaedic diseases and flexible policies for medicinal facilities, developing economies of the countries and increasing per capita incomes are other helping hands for the Orthobiologics market.
MARKET CHALLENGES
However, complex synthesization process, regulations for manufacturing and expensive production costs are hindering the market a little. Other significant factors restricting the growth of this market is the high costs and inadequate reimbursements for orthobiologics products and procedures. The high pricing of orthobiologics procedures and product is one of the significant challenges for the growth of the global orthobiologics market.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Product, Application, End-User and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Medtronic, DePuy Synthes, Zimmer Biomet, Bioventus, Stryker, Harvest Technologies, Globus, Orthofix International, RTI Surgical, K2M Group, Kuros Biosciences |
This research report on the global orthobiologics market has been segmented and sub-segmented based on the product, application, end-user and region.
Orthobiologics Market - By Product:
In this segment, viscosupplementation held the dominant share of orthobiologics market. The substantial share is due to the high adoption of these products as a consequence of full-range availability and unprecedented confirmation in diseases such as osteoarthritis, hip degenerative joint disease.
The high adoption rate is high because of the benefits associated with viscosupplementation. These benefits include better knee movement, pain reduction, less-invasive and fewer side effects. It is also expected to be a result of high demand for minimally invasive operative procedures leading to high acceptance by the patient population base.
Orthobiologics Market - By Application:
Spinal fusion accounted for a majority share of over 50% in the application segment. Penetration of demineralized bone matrices, bone morphogenetic proteins, autografts and allografts in spinal fusion surgeries are boosting up the demand of the market.
Benefits of ortho biological products in spinal fusion such as rapid stimulation of cells to initiate the bone formation and reduce the stay duration in hospital and reduce visits in the hospital are some of the factors believed to be responsible for growing larger share in the application segment. The share attained by orthobiologics is also believed to be a consequence of the presence of third-party insurances for fusion enhancement products, thus increasing growth.
Orthobiologics Market– By End-User:
Hospitals have a significant share in the end-use segment. Increasing adoption of ortho biological products in wide range spinal and reconstructive surgeries performed in hospitals are the main factors contributing the most significant shares to this segment. Specialized patient care and easy availability of a wide range of orthobiologics in hospitals are to be a growth factor for this segment.
High patient turnaround, frequent readmissions, and large procedure volumes contributed toward the segment growth. The supportive infrastructure facilitates accurate operative procedures which further contribute to the growth of the segment.
Orthobiologics Market– By Region:
Regionally, North America dominated the global orthobiologics market in 2019, which is followed by Europe and the Asia Pacific regions. The share acquired by this region is due to the presence of a large number of key players in this region, which are involved in promoting quality care and undertaking new product development strategies. Reimbursement available for soft tissue healing and fusion enhancement products is also significantly contributing toward the regional share.
Asia Pacific region is expected to witness more significant market share in the forecasted period due to the growing number of patients. Due to the presence of developing nations such as China and India are expected to support the growth of the market in the region.
The Asia Pacific regional space is expected to grow at an exponential rate throughout the coming years. This growth is mainly due to the rising healthcare spending and disposable income and physician awareness levels pertaining to the benefits of these products. As the countries in the Asia Pacific are developing, there is an opportunity for the key players to invest.
In addition to that heightening quality of healthcare infrastructure, the growth of the orthobiologics market in this region is to expand tremendously. With that increasing product launches across this region aside, there is a growing competition between the key players which also contributing significantly to the leading growth of orthobiologics in the Asia Pacific.
Bioventus, one of the key players in the orthobiologics market launched DUROLANE, hyaluronic acid-based single-injection for the treatment of joint-fluid osteoarthritis in Taiwan. The product launch led to the geographical presence of the company and also increased the product penetration of ortho biological products in the Asia Pacific region. The other factors which contribute towards the growth of this market in the area include the rise in several chronic arthritis, osteoarthritis and orthopaedic condition these different factors have led to rise in demand for orthobiologics in the Asia Pacific region.
NOTABLE COMPANIES IN THE GLOBAL ORTHOBIOLOGICS MARKET
Some of the companies playing a promising role in the market are Medtronic, DePuy Synthes, Zimmer Biomet, Bioventus, Stryker, Harvest Technologies, Globus, Orthofix International, RTI Surgical, K2M Group and Kuros Biosciences.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product
5.1.1 Viscosupplementation
5.1.2 Products
5.1.3 Demineralized Bone Matrices
5.1.4 Synthetic Orthobiologics
5.1.5 Bone Morphogenic Protein
5.1.6 Allografts
5.1.7 Plasma-Rich Protein
5.1.8 Bone Marrow Aspirate Concentrate
5.1.9 Y-o-Y Growth Analysis, By Product
5.1.10 Market Attractiveness Analysis, By Product
5.1.11 Market Share Analysis, By Product
5.2 Application
5.2.1 Osteoarthritis and Degenerative Arthritis
5.2.2 Spinal Fusion
5.2.3 Fracture Recovery
5.2.4 Soft Tissue Injuries
5.2.5 Maxillofacial & Dental Applications
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
5.3 End Users
5.3.1 Hospitals
5.3.2 Orthopaedic Clinics
5.3.3 Ambulatory Care Centres
5.3.4 Research and Academic Institutes
5.3.5 Dental Clinics & Facilities
5.3.6 Y-o-Y Growth Analysis, By End Users
5.3.7 Market Attractiveness Analysis, By End Users
5.3.8 Market Share Analysis, By End Users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Product
6.1.3.2 By Application
6.1.3.3 By End Users
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Product
6.1.4.2 By Application
6.1.4.3 By End Users
6.1.5 Market Share Analysis
6.1.5.1 By Product
6.1.5.2 By Application
6.1.5.3 By End Users
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Medtronic
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 DePuy Synthes
8.3 Zimmer Biomet
8.4 Bioventus
8.5 Stryker
8.6 Harvest Technologies
8.7 Globus
8.8 Orthofix International
8.9 RTI Surgical
8.10 K2M Group
8.11 Kuros Biosciences
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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