Global Orthobiologics Market - 2022-2029

Market Overview

The global orthobiologics market size was valued around $ YY million in 2021 and is expected to reach $ YY million by 2029, growing at a CAGR of 5.40% during the forecast period (2022-2029).

Orthopedic surgeons use orthobiologics to help injuries heal more quickly. They quicken the healing of broken bones and injured muscles, tendons, and ligaments. These products are made from substances that are naturally found in our bodies. Common orthobiologics include platelet-rich plasma, bone marrow concentrate, certain fat grafts, and birth tissues. These autologous or allogeneic substances can help bones, joints, muscles, or tendons heal if they are injected or placed surgically.

Market Dynamics

An increase in patient awareness regarding orthobiologics is expected to drive market growth.

Orthobiologics products are used in various applications, including reconstructive surgery, spinal fusion, and trauma recovery. The spinal fusion category is estimated to drive market growth due to increased sports-related injuries, traumatic injuries, accidents, and spine injuries. Athletes frequently suffer from shattered bones and muscular injuries. Longer rest intervals, on the other hand, can essentially ruin an athlete's career. Therefore, orthobiologic treatment is being suggested for them. This treatment is gaining huge traction in the sports industry. For instance, the American Medical Society for Sports Medicine (AMSSM) has released a position statement on Principles for the Responsible Use of Regenerative Medicine in Sports Medicine, which includes orthobiologics.

Furthermore, rising R&D investments and collaborations by prominent medical device and biotechnology companies, leading to the advent of advanced orthobiologics, are presumed to widen the basis for the growth of orthobiologics. For instance, Bone Biologics Corp. is in its development stages of bone growth stimulator orthobiologic product Nell-1, in collaboration with the University of California. This subsequent rise in R&D efforts led to expanding a range of pipeline products expected to provide this vertical with lucrative growth opportunities in the future.

The high cost of orthobiologics products is expected to hamper the market growth.

The cost of orthobiologics is fluctuating in the worldwide orthobiologics market. For instance, a study published in Sports Health in October 2020 by the University of Alabama at Birmingham found considerable cost variability ranging from a few 100 dollars to as high as $ 12,000 in orthobiologics therapy. While most sports medical practices in the United States provide some form of orthobiologic injection, the cost of these injections varies greatly. According to UAB. Edu, the average cost of a platelet-rich plasma injection was $ 707, with a price range of $ 175 to $ 4,973. The average cost of stem cell injections was $ 2,728, ranging from $ 300 to $ 12,000. Most insurance policies do not cover the cost of the injections. The Department of Orthopaedics at UAB offers platelet-rich plasma and stem cell injections for special situations. Platelet-rich plasma injections at UAB are $ 350, at the low end of the pricing range. UAB orthobiologics providers are following their patients over time to understand more about their efficacy. Thus, the high cost of this medicine will hamper the market growth in the forecast period.

COVID-19 Impact Analysis

The emergence of the COVID-19 pandemic impacted the orthobiologics market due to a decrease in hospital and ambulatory surgical center visits due to lockdown restrictions imposed by various governments around the world. Non-emergency procedures in hospitals were halted due to these restrictions, negatively impacting the patient's life. For instance, the presence of osteoarthritis-related concomitant disorders, according to a study published in the Clinical Pharmacology and Therapeutics Journal in May 2020 by Enrico Ragni et al., is expected to initiate life-threatening risks for osteoarthritis patients in the event of SARS-CoV2 viral infection. This has prompted clinicians and orthopedists to conduct thorough examinations and evaluations of osteoarthritis patients for symptom management and comorbidities that may arise due to osteoarthritis treatment during the COVID-19 pandemic. In contrast, after COVID-19 restrictions, surgery volumes have recovered quickly. For instance, by June 2020, surgery volumes in the United States, China, Germany, and Australia had begun to recover. As the number of osteoarthritis surgeries increases, so will the demand for orthobiologics products. Companies will continue to identify tailwinds and headwinds that influence sales growth and reshape portfolios accordingly as competition heats up. Maintaining above-market growth rates will necessitate ingenuity, particularly in stagnant markets such as the spine or areas with access challenges. Companies are getting approval for their stem cell therapies one by one. Mesoblast Ltd, for instance, received FDA approval for an IND (Investigational New Drug application) for MSC product candidate remestemcel-L in April 2020. It is used to treat patients who have developed acute respiratory distress syndrome (ARDS) due to COVID-19. Thus, from the above statements, the market got affected. However, the situation is expected to improve gradually in the forecast period.

Segment Analysis

Synthetic Bone Substitutes segment is estimated to hold the largest market share in orthobiologics market.

The synthetic bone substitutes segment accounted for the largest market share in 2021. Bone grafting is a surgical procedure that uses grafted bone to repair, replace, or restore missing, diseased or damaged bones. The grafting material can be derived from the patient's own body, synthetic or natural. A bone substitute is a mixture that is placed for the therapy of a faulty bone. The inserted combination can be synthetic, inorganic, or biologically organic. Ceramic, composite, or polymer materials can be used to create a synthetic bone graft alternative. The increased frequency of bone and joint problems is one of the primary reasons driving market expansion. According to the CDC report, the global incidence rate of hip fracture is anticipated to climb by 240% in women and 310% in men. It is estimated that 200 million women globally have osteoporosis. Bone grafts are commonly used in orthopedic surgery. These surgeries are regarded as elective, and the majority of elective surgeries were postponed or canceled during the COVID-19 epidemic. This resulted in a significant decrease in demand for orthopedic surgery devices such as bone grafts and substitutes.

Furthermore, extended factory closures by market players in various nations slowed down the production of the devices. However, since the last quarter of 2020, the infection rate is expected to decline, slowly restoring the production cycles and increasing the production of bone grafts and substitutes. Thus, from the above statements, the market segment accounted for the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global orthobiologics market

North America accounted for the largest market share in 2021. The increasing prevalence of fractures and increased R&D in this region are projected to fuel market expansion. For instance, around 6.3 million fractures occur annually in the United States. Fractures occur at a 2.4 per 100 people per year rate. Fractures are more common in men than women (2.8 per 100 population) (2.0 per 100). On the other hand, women's fracture rates increase after age 45. Furthermore, chronic arthritis, osteoarthritis, and other orthopedic diseases are common variables impacting the market growth. According to the Centers for Disease Control and Prevention, one in every four Americans (or 54.4 million) has arthritis, which is anticipated to climb to 78 million by 2040. While there are over 100 different forms of arthritis, the most common is osteoarthritis (OA), which affects 32.5 million adults in the United States. Researchers estimate that 17,730 new cases of SCI are diagnosed in the United States each year, and between 249,000 and 363,000 people live with SCI. In Canadians over 40, nearly 1.8 million fractures at bone locations most typically associated with osteoporosis were identified.

Moreover, this region's increasing number of product launches is expected to drive market growth. For instance, on 13th January 2021, Miravo Healthcare launched NeoVisc+ 2 mL and NeoVisc ONE 4 mL in Canada. In addition, on 15th September 2020, Cerapedics, a private orthobiologics company, announced today that Health Canada had approved the commercial launch of its next-generation bone graft, i-FACTOR+ Matrix, making it the first market to do so. The i-FACTOR Peptide Enhanced Bone Graft is based on Cerapedics' proprietary small peptide (P-15) technology, which promotes bone growth by attracting, attaching, and activating cells. Hence, this region's increasing incidence of spinal cord injuries and product launches is expected to drive market growth.

Competitive Landscape

Major key players in the orthobiologics market are: Medtronic Plc., Johnson & Johnson (DePuy Synthes), Sanofi, Integra LifeSciences Holdings Corporation, Arthrex, Inc., Zimmer Biomet, Stryker Corporation, Globus Medical Inc., Montagu (RTI Surgical), Seaspine Holdings Corporation, Halma plc ( NovaBone).

Medtronic Plc:

Overview:

Medtronic Plc. is a medical technology company that engages in the development, manufacture, distribution, and sale of device-based medical therapies and services. The Company operates in four segments: Cardiac and Vascular Group, Restorative Therapies Group, Minimally Invasive Technologies Group and Diabetes Group. Medtronic develops and manufactures devices and therapies to treat more than 30 chronic diseases, including heart failure, Parkinson's disease, urinary incontinence, Down syndrome, obesity, chronic pain, spinal disorders, and diabetes. The Restorative Therapies Group contains divisions of Spine, Brain, Specialty Therapies, and Pain Therapies. The Minimally Invasive Technologies Group segment comprises Surgical Innovations and Respiratory, Gastrointestinal, and Renal divisions. Medtronic operates in more than 150 countries. It has more than 53,000 patents.

Product Portfolio:

Grafton demineralized bone matrix (DBM): Grafton DBM is used alone, comparable to autogenous bone chips or allograft bone particulate (demineralized freeze-dried bone). It may be mixed with either allograft or autograft bone or bone marrow as a bone graft extender. It is indicated only for bony voids or gaps that are not intrinsic to the stability of the bony structure. Grafton DBM is resorbed/remodeled and is replaced by the host bone during the healing process.

The global orthobiologics market report would provide an access to an approx. 45+ market data table, 40+ figures and 180 pages.