Orthobiologics - Market Insights, Competitive Landscape, and Market Forecast - 2030

Orthobiologics Market By Product Type (Viscosupplementation Products, Demineralized Bone Matrices, Bone Morphogenic Protein, Synthetic Bone Substitutes, Bone Grafts, Others), By Application (Osteoarthritis, Spinal Fusion, Reconstructive & Fracture Recovery, Soft-Tissue Injuries, Maxillofacial And Dental Applications), By End-User (Hospitals, Orthopaedic Clinics, And Others), by geography, is projected to expand at a significant CAGR till 2030 owing to the growing number of sports injuries & road accidents and increasing prevalence of bone degeneration diseases across the globe.

The global orthobiologics market was valued at USD 5.33 billion in 2020, growing at a CAGR of 4.44% during the forecast period from 2024 to 2030, in order to reach USD 6.84 billion by 2030. The escalating demand for orthobiologics is predominantly attributed to the rising burden of the geriatric population who are susceptible to developing various bone degenerative disorders, increasing cases of traumatic injuries such as road crashes, sports injuries, and others. Moreover, growing investments in research & development and collaborations by key manufacturers, and the rise in various orthobiologic product approvals, among others are also expected to bolster the global orthobiologics market.

Orthobiologics Market Dynamics:

The market for orthobiologics is expanding at a faster pace at present owing to the growing burden of the geriatric population who are more susceptible to developing bone degenerative disorders such as osteoarthritis, degenerative disc disorders, and others. According to the United Nations World Population Ageing 2019 highlights, approximately 703 million people were aged 65 years and above across the globe. Also, the report estimated the old age population to rise to 1.5 billion by the year 2050.

In addition, as per the World Health Organization 2022 statistics, globally, there were about 1 billion persons aged 60 years or over in the year 2020.

Furthermore, as per the data published by the Osteoarthritis Action Alliance (OAAA), 2020, in the year 2019, about 242 million people worldwide suffer from symptomatic and activity limiting osteoarthritis (OA) which is one of the common types of arthritis. The data also mentioned that about 43% of people with OA are 65 or older and 88% of people with OA are 45 or older in 2019.

In addition, the recent approval and launch of various orthobiologic products are also anticipated to surge the market for orthobiologics. For instance, on February 28, 2019, Medtronic launched the Grafton(TM) Demineralized Bone Matrix (DBM) bone grafting product for spine and orthopedic procedures in Japan which was approved by Japan's Pharmaceuticals and Medical Devices Agency (PMDA) in August 2018.

Hence, all the above-mentioned factors are expected to spike the global orthobiologics market during the forecasted period.

However, high costs associated with orthobiologics treatment and stringent regulatory approval processes are likely to impede the market for orthobiologics.

Due to the outbreak of the COVID-19 pandemic, the market for orthobiologics witnessed slow growth. This is due to the delay in the number of elective procedures during the pandemic. Moreover, temporary shut down of clinics due to nationwide lockdown, disruption in supply because of logistical restrictions imposed at the time of COVID-19 wave, and hospitals shifting their focus towards COVID management also affected the orthobiologics demand. However, the launch of various vaccines and mass vaccination drives have resume normal operations further leading to the growth of the orthobiologics market during the post-pandemic.

Orthobiologics Market Segment Analysis:

Orthobiologics Market By Product Type (Viscosupplementation Products, Demineralized Bone Matrices, Bone Morphogenic Protein, Synthetic Bone Substitutes, Bone Grafts, Others), By Application (Osteoarthritis, Spinal Fusion, Reconstructive & Fracture Recovery, Soft-Tissue Injuries, Maxillofacial And Dental Applications), By End-User (Hospitals, Orthopaedic Clinics, And Others), and By Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the orthobiologics product segment, the viscosupplementation products are projected to hold a significant market share in the forthcoming years. This is because of the high prevalence of osteoarthritis among the world's population. According to the data published by the Osteoarthritis Foundation International (OAFI Foundation) in the year 2020, worldwide, an estimated 500 million people have osteoarthritis, hip and knee osteoarthritis being the most common. Extensive adoption of viscosupplementation products for their effectiveness in reducing pain, and fewer side effects while treating symptomatic knee osteoarthritis will contribute to the segmental growth of the orthobiologics market.

Moreover, the wide availability of viscosupplementation products including single, three, and five injections is also anticipated to boost the segmental growth.

Furthermore, approvals of various viscosupplementation devices in the market will also augment the market. For instance, in 2019, Fidia Farmaceutici S.p.A. received Food & Drug Administration (FDA) regulatory approval for TRILURON(TM), a single-use syringe, prefilled with sodium hyaluronate to provide relief to the pain associated with osteoarthritis for up to six months.

Also, rising manufacturers' initiatives to launch viscosupplementation products will surge the market. For instance, in May 2019, Lupin Limited and Aptissen S.A. entered into a definitive distribution agreement under which Aptissen has granted Lupin the exclusive rights to market, distribute, and sell the current Aptissen products in Canada which includes immediate rights to distribute Synolis VA for the treatment of Osteoarthritis.

Thus, all the aforementioned factors are expected to drive the segmental growth of the orthobiologics market during the forecasted period.

North America is expected to dominate the Overall Orthobiologics Market:

Among all the regions, North America is expected to hold a major share in the overall orthobiologics market during the forecasted period. This domination is owing to the rising incidents of traumatic injuries due to falls, accidents, and others in the region. Moreover, increasing geriatric and obese people in the region, growing incidences of spinal disorders, and rising physician and patient awareness about newly introduced orthobiologic treatment procedures and technologies will further bolster the market for orthobiologics in the region.

For instance, in the US, an overall 48.3 million people suffered from traumatic injuries out of which motor-vehicle incidents totaled 4.5 million in the year 2019 as per the National Safety Council 2022 report.

Additionally, as per the 2022 statistics published by the Centers for Disease Control and Prevention, the prevalence of obesity in the US was 42.4% in the year between 2017 and 2018.

According to research, it has been concluded that obese people have reduced bone density which increases the risk of fractures.

Moreover, the presence of key players such as Arthrex Inc., Stryker Corporation, Medtronic, among others, and their strategic business activities for the development of new orthobiologics for the treatment of various bone-associated disorders will propel the orthobiologics market in the region. For instance, on November 11, 2020, Stryker acquired Wright Medical Group N.V. a leading medical device company focused on extremities and biologics to enhance its market position.

Also, in June 2019, Bioventus entered into a development collaboration agreement with MTF Biologics to co-develop the next generation placental tissue product for the treatment of painful musculoskeletal conditions, with an initial focus on knee osteoarthritis (OA).

Further, the Asia-Pacific region has the future potential growth for the Global orthobiologics market. This is due to the rising geriatric population in the region. According to the Organisation for Economic Cooperation and Development (OECD) 2022 statistics, across lower-middle and low-income Asia-Pacific countries, the share of the population aged 80 years and over is expected to triple between 2020 and 2050. The rising old age population is more susceptible to musculoskeletal disorders such as arthritis, osteoarthritis, and others. Thus, the expanding aging population could contribute to the orthobiologics market growth in the region. Furthermore, according to the Australian Institute of Health and Welfare 2020 report, from the years 2017 to 2018, one in eleven Australians have osteoarthritis making it approximately 2.2 million people in the nation. Thus, the rising prevalence of joint degeneration disorders will increase the demand for orthobiologics.

In addition, the presence of well-established market players such as Seikagaku Corporation, LG Chem., TERUMO BCT, INC., among others, the rising disposable income, improving healthcare facilities in the region are the factors expected to grow the market in the region.

Orthobiologics Market Key Players:

Some of the key market players operating in the Orthobiologics market include Medtronic, Stryker, Collagen Matrix, Inc., Arthrex, Inc., Bioventus, Sanofi, Seikagaku Corporation, DePuy Synthes (Johnson & Johnson), Globus Medical, Zimmer Biomet, NuVasive Inc., SeaSpine, Baxter, Exactech, Inc., RTI Surgical, Biomatlante, Fidia Farmaceutici S.p.A, LG Chem, TERUMO BCT, INC., Anika Therapeutics, Inc., Orthofix Medical Inc., Kuros Biosciences, XTANT MEDICAL, APTISSEN, BONESUPPORT AB, and others.

Recent Developmental Activities in the Orthobiologics Market:

On July 28, 2022, Orthofix Medical Inc., launched fiberFUSE strip, an advanced demineralized fiber bone graft solution containing cancellous bone in the US.

On July 13, 2022, RTI Surgical entered into a long-term strategic agreement with Exatech for the development and supply of biologic bone substitutes. As part of the agreement, RTI Surgical acquired Exactech's Optecure®, a 510(k)- cleared demineralized bone matrix for use as a bone graft extender in the spine, pelvis, and extremities.

On August 24, 2020, Xtant Medical Holdings, Inc. launched its Matriform® Si, a silicated synthetic bone graft strip designed and cleared for spinal fusion procedures in the US.

Key Takeaways from the Orthobiologics Market Report Study

• Market size analysis for current market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Orthobiologics market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Orthobiologics Market.
• Various opportunities available for the other competitor in the Orthobiologics Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Orthobiologics market growth in the coming future?

Target Audience who can be benefited from the Orthobiologics Market Report Study

• Orthobiologics providers
• Research organizations and consulting companies
• Orthobiologics-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders in Orthobiologics
• Various End-users who want to know more about the Orthobiologics Market and the latest technological developments in the Orthobiologics market.

Frequently Asked Questions for the Orthobiologics Market:

1. What are Orthobiologics?

Orthobiologics are substances used to improve the healing of broken bones and injured muscles, tendons, and ligaments. These products are often made from substances that are naturally found in the body.

2. What is the market for Global Orthobiologics?

The global Orthobiologics Market was valued at USD 5.33 billion in 2020, growing at a CAGR of 4.44% during the forecast period from 2024 to 2030 to reach USD 6.84 billion by 2030.

3. What are the drivers for Global Orthobiologics?

The major factors driving the demand for orthobiologics are the growing prevalence of joint degenerative disorders such as arthritis, osteoarthritis, and increasing cases of traumatic injuries due to sports injuries, road crashes, and others. Moreover, a rise in investments by key manufacturers for the R&D and commercialization of orthobiologics, and growing product approvals, among others are also projected to boost the global orthobiologics market.

4. What are the key players operating in Global Orthobiologics?

Some of the key market players operating in the Orthobiologics market include Medtronic, Stryker, Collagen Matrix, Inc., Arthrex, Inc., Bioventus, Sanofi, Seikagaku Corporation, DePuy Synthes (Johnson & Johnson), Globus Medical, Zimmer Biomet, NuVasive Inc., SeaSpine, Baxter, Exactech, Inc., RTI Surgical, Biomatlante, Fidia Farmaceutici S.p.A, LG Chem, TERUMO BCT, INC., Anika Therapeutics, Inc., Orthofix Medical Inc., Kuros Biosciences, XTANT MEDICAL, APTISSEN, BONESUPPORT AB, and others.

5. Which region has the highest share in the Orthobiologics market?

Among all the regions, North America is expected to hold a major share in the overall orthobiologics market during the forecasted period, 2024-2030. This domination is owing to the rising incidents of traumatic injuries due to falls, accidents, and others in the region. Moreover, increasing geriatric and obese people in the region, growing incidences of spinal disorders, and rising physician and patient awareness about newly introduced orthobiologic treatment procedures and technologies will further bolster the market for orthobiologics in the region.