PUBLISHER: SkyQuest | PRODUCT CODE: 1286019
PUBLISHER: SkyQuest | PRODUCT CODE: 1286019
Orthobiologics Market size was valued at USD 7.63 billion in 2021 and is poised to grow from USD 8.56 billion in 2022 to USD 12.33 billion by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).
Two significant reasons that are projected to fuel the expansion of the orthobiologics market during the forecast period are the increase in the incidence of traffic accidents and sports injuries. The market for orthobiologics is anticipated to expand as a consequence of the increase in spinal diseases and disorders. The increased patient preference for minimally invasive procedures is expected to impede the growth of the orthobiologics market. However, the cost of orthobiologics-based treatments is rising, which can limit the market's growth throughout the projection period. The surge in the number of old and obese people has caused the market for orthobiologics to grow more quickly than it did previously.
An alternative name for orthobiologics is regenerative cellular treatments. Growth factors are present in orthobiologic products, which lessen and stimulate discomfort, encourage tissue healing, and help the body return to normal function.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Orthbiologics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Orthobiologics Market is segmented based on Product, Application, End-use and Region. Based on the Product, the Global Orthobiologics Market is segmented into Demineralized Bone Matrix (DBM), Allograft, Bone Morphogenetic Protein (BMP), Viscosupplementation, Synthetic Bone Substitutes & Stem Cell Therapy. Based on the Application, the Global Orthobiologics Market is segmented into Spinal Fusion, Trauma Repair, Maxillofacial & Dental& Reconstructive Surgery. Based on End-Use, it is segmented into Hospitals, Ambulatory Surgical Centers& Orthopedic Clinics. Based on Region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
To support the market, there is a considerable need for viscosupplements.
Knee osteoarthritis is a major problem for the elderly population and is well treated with viscosupplements. Viscosupplements, which are injections of hyaluronic acid, are administered directly into the joints. The main factors influencing the growth of the viscosupplements categories are high product costs, new manufacturer entry, and recent marketing approvals. Better reimbursement policies are also advantageous for the viscosupplements segments. Given the aforementioned factors, it is anticipated that during the forecast period, rising demand for viscosupplements will drive the growth of the global orthobiologics market.
An increase in the prevalence of illnesses and disorders
The market for orthobiologics is anticipated to expand as a consequence of the increase in spinal diseases and disorders. Additionally, it is anticipated that the market will grow as traffic incidents happen more frequently.
Restraint
The patient would rather receive treatment than have invasive treatments.
The need for minimally invasive procedures among patients is expected to limit the growth of the orthobiologics market. The adverse consequences of Bmp-based therapy could provide significant challenges for the orthobiologics business in the near future.
rising costs for therapies based on orthobiologics.
Additionally, it is predicted that the rise in the cost of therapies based on orthobiologics may impede the market's growth throughout the course of the projected year. Complex synthesis processes, manufacturing laws, and high production costs all place restrictions on the market. High prices and insufficient reimbursements for orthobiologics products and treatments are additional major factors restraining this market's expansion. The high cost of orthobiologics treatments and products is one of the main barriers preventing the growth of the global orthobiologics market.
Market Trends
The increased prevalence of sports-related injuries is expected to drive growth in the worldwide orthobiologics market. For instance, according to a study released in November 2018 and titled "Results on sports-related injuries in children from NHS emergency care dataset Oxfordshire pilot: an ecological study," 23.5 percent of admissions for all ages and 47.4 percent of emergency department visits were attributed to sports-related injuries.
On the international orthobiologics market, orthobiologics prices change often. According to a Sports Health article from October 2019, a University of Alabama at Birmingham study discovered that orthobiologics therapy can cost anywhere from a few hundred dollars to as much as US$ 12,000, for instance.