The latest research study “Orthobiologics Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global orthobiologics market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Industry Definition and Application:
Orthobiologics refer to biological products utilized by orthopedic surgeons to stimulate the healing of injuries in the body. They are made from substances naturally found in the body, including proteins, cells, glycoproteins, carbohydrates, etc. Some of the common orthobiologics related therapies include autologous conditioned plasma (ACP), stem cells, platelet-rich plasma (PRP), bone marrow aspirate concentrate (BMAC), etc. They aid in reducing inflammation and pain, reversing debilitating effects of osteoarthritis, facilitating the process of cartilage regeneration, ligament repairing, tendon healing, etc. As a result, orthobiologics find extensive applications in several medical establishments, such as hospitals, ambulatory centers, research and academic institutes, dental clinics, etc.
Global Orthobiologics Market Industry Trends and Drivers:
The growing participation of individuals in physical training and sports activities is primarily driving the global orthobiologics market. Besides this, the rising cases of osteoarthritis, due to unhealthy dietary habits and sedentary lifestyles among the millennial population, arefurther augmenting the demand for orthobiologics. Moreover, the expanding consumer awareness towards numerous benefits associated with orthobiologic therapies, such as avoiding major invasive surgeries and improving the recovery time, is also positively influencing the market growth. Apart from this, the increasing popularity of bioabsorbable implants for fracture fixation, such as autograft and allograft bone, is anticipated to propel the orthobiologics market in the coming years.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product:
- Demineralized Bone Matrix
- Allograft
- Bone Morphogenetic Protein
- Viscosupplementation Products
- Synthetic Bone Substitutes
- Others
Breakup by Type:
- Knee
- Ankle
- Hip
- Wrist and Shoulder
- Spine
- Others
Breakup by Application:
- Osteoarthritis and Degenerative Arthritis
- Spinal Fusion
- Fracture Recovery
- Soft Tissue Injuries
- Maxillofacial and Dental Applications
Breakup by End User:
- Hospitals and Ambulatory Centers
- Research and Academic Institutes
- Dental Clinics and Facilities
- Orthopedic Clinics
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
List of Major Major Key Players:
Arthrex Inc, Globus Medical Inc., Integra LifeSciences, Johnson & Johnson, Medline Industries Inc., Medtronic plc, NuVasive Inc, Orthofix Medical Inc., Smith & Nephew plc, Stryker Corporation, Terumo Corporation, Wright Medical Group N.V. and Zimmer Biomet.
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