A
research study titled, “Orthobiologics Market by Product, Application, and End
User - Global Industry Analysis and Forecast to 2025” published by Crystal
Market Research, states that the orthobiologics market is projected to be
around $10billion by 2025.
Orthobiologics
helps to heal injured muscles, fractures, tendons and ligaments more quickly.
These are made up of naturally occurring body substances such as autologous
conditioned serum, autologous blood, bone grafts, stem cells, platelet rich
plasma, and growth factors. Therefore, these are commercially available for
orthopedic applications such as joint reconstruction, spinal fusion, and sports
related injuries.
Rise
in number of orthopedic surgeries, rapidly aging population, increasing
adoption of advanced products, and growing demand for minimal invasive
procedures are set to drive the global market for orthobiologics. As per the
report published by American Academy of Orthopedic Surgeons, in U.S., around
500,000 bone grafting surgeries are performed every year. Of these, almost half
of the surgeries are related to spinal fusion. These large number of procedures
lead to rise in demand for musculoskeletal tissue donation and a shortage of
cadaver material.
Additionally,
increased availability of products with high osteoinductive and osteoconductive
properties will further contribute to the market growth. An osteoinductive
protein provides biophysical stimulation which helps to repair and regenerate
bone fractures. Moreover, the high demand for orthobiologics in orthopedic
industry coupled with rise in adoption of orthobiologics in different orthopedic
applications such as joint reconstruction, trauma, craniomaxillofacial, and
spinal fusion is set to boost the market growth.
Viscosupplementation
segment dominated the global market in 2016 as they result in better knee
movement, fewer side-effect, effective pain reduction and are less invasive in
nature. As demand for minimally invasive procedures is on the rise, high
adoption of viscosupplementation by the patient community is expected to
contribute to the market growth during the forecast period. Synthetic bone
substitutes along with stem cell based products are expected to exhibit
lucrative growth during the forecast period owing to reduced cost, reduced risk
of disease infection and quick recovery.
Spinal
fusion segment dominated the overall market in 2016. This dominance can be
attributed to large scale adoption of autografts and bone morphogenetic
proteins in spinal fusion surgeries. The procedure provides high bone stability
along with rapid healing of the bones which results in effective improvement in
case of long-term spine related disorders. Moreover, the availability of
favorable reimbursement policies for fusion enhancement products is expected to
contribute to the growth of spinal fusion segmentduring the forecast period.
Hospitals
segment dominated the global market in 2016 owing to the large scale adoption
of orthobiologics products for spinal and reconstructive surgeries.
Furthermore, factors such as large procedure volumes, frequent readmissions and
high patient turnaround are anticipated to further drive the growth of
hospitals market during the forecast period.
U.S.
held the major share of North American orthobiologics market in 2016 owing to
the presence of numerous market players in the country. With the availability
of advanced healthcare facilities and research capabilities, the market is
supposed to witness impressive growth over the forecast period. Emerging
economies such as China and India in the Asia-Pacific region are expected to
register highest growth during the forecast period. This rapid growth can be
attributed to factors such as rising geriatric population, untapped medical
needs in these countries along with increasing medical tourism.
Development
of novel products related to bone healing has changed the field of orthopedic
treatment. Therefore, major players are highly focused on developing and commercializing
technologically advanced products. For instance, in September 2015, Wright
Medical Group Inc. obtained premarket approval for its Augment bone graft from
FDA. This graft can be used in ankle or hind foot fusion procedures. Similarly,
in November 2015, CeraPedics, an orthobiologics company, obtained premarket
approval (PMA) application for its “i-FACTOR Peptide Enhanced Bone Graft”. This
graft can be used for the treatment of degenerative cervical disc related
disorders. Thus, introduction of technologically advanced products is set to
propel the market growth.
Some
of the key players in orthobiologics market are, Bioventus LLC., Smith
& Nephew PLC, RTI Surgical, Inc., Bone Biologics Corporation, CollPlant
Ltd, Musculoskeletal Transplant Foundation, AlloSource, Seikagaku Corporation,
Kuros Biosciences AG, DePuySynthes (A subsidiary of Johnson & Johnson
Services, Inc.), ISTO Technologies, Inc., OsteoMed, Stryker Corporation,
Arthrex, Inc., Osiris Therapeutics, Inc., Globus Medical Inc., Medtronic plc,
NuVasive, Inc. and Wright Medical Group N.V.
Browse full research report
with TOC on “Orthobiologics Market by Product, Application, and End User -
Global Industry Analysis and Forecast to 2025” at:
Key
Findings of the Research Study:
- Viscosupplementation segment accounted for the
largest share of the market in 2016 owing to rising demand for minimally
invasive procedures leading to large scale adoption of
viscosupplementation.
- Spinal fusion segment dominated the applications
market in 2016 owing to availability of favorable reimbursement policies
and third party insurers.
- Hospitals segment dominated the end user market for
orthobiologics in 2016 as a result of large scale adoption of these
products for reconstructive surgeries performed in hospitals.
- North America held the majority share of the global
orthobiologics market in 2016 due to the availability of leading market
players in the region along with robust healthcare infrastructure.
- Asia-Pacific orthobiologics market is expected to witness
the fastest growth over the forecast period owing to presence of unmet
medical needs and increasing disposable income of the people in the
region.
About Crystal Market Research
Crystal
Market Research is a U.S. based market research and business intelligence
company. Crystal offers one stop solution for market research, business
intelligence, and consulting services to help clients make more informed
decisions. It provides both syndicated as well as customized research studies
for its customers spread across the globe. The company offers market
intelligence reports across a broad range of industries including healthcare,
chemicals & materials, technology, automotive, and energy.
Contact Us:
304
South Jones Blvd, Suite 1896,
Las
Vegas NV 89107,
United
States
Toll Free:
+ 1-888-213-4282
Email:
sales@crystalmarketresearch.com
Website:
www.crystalmarketresearch.com
No comments:
Post a Comment