-- Increase in demand for advanced treatment and surge in geriatric population across the globe are anticipated to significantly drive the growth of the orthobiologics market. Furthermore, rise in prevalence of spinal injuries, osteoarthritis, soft tissue injuries, and upsurge in awareness related to use of orthobiologics among patients and athletes are the factors that augment the market growth.
"Orthobiologics Market by Product, Application, Type, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the market was valued at $4,870 million in 2017, and is projected to reach $6,870 million by 2025, growing at a CAGR of 4.3% from 2018 to 2025.
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The key factors that drive the growth of the global orthobiologics market are increase demand for advanced treatment and rise in prevalence of osteoarthritis, degenerative arthritis, spinal injuries, and soft tissue injuries majorly drive the growth of the market. Further, rise in obesity rate, growth in awareness among the patients, and increase in geriatric population supports the market growth. However, high cost of procedures and stringent regulatory approval process restrict the growth of this market. Advancements in implant technologies and growth in demand for biological solutions create opportunities for market growth.
The global orthobiologics market is segmented based on product, application, type, end user, and region. Based on product, the market is classified into demineralized bone matrix (DBM), allograft, bone morphogenetic protein (BMP), viscosupplementation products, synthetic bone substitutes, and others. Viscosupplementation products is the largest and the fastest growing segment. This is due to its application for treatment of knee pain associated with osteoarthritis. Increase in geriatric population, rise in prevalence of osteoarthritis, and growth in lifestyle-induced disorders, such as obesity, drive the adoption of viscosupplement products.
Based on type, the market is categorized into knee, ankle, hip, wrist & shoulder, spine, and others. The knee segment held largest share in the market in 2017; this is due to rise in number of aged patients undergoing knee replacement procedures. Spine is the fastest growing segment due to rise in number of sports related injuries to the spine.
Based on application, the market is categorized into application such as osteoarthritis & degenerative arthritis, spinal fusion, fracture recovery, soft tissue injuries, maxillofacial, and dental applications. Osteoarthritis & degenerative arthritis is the largest segment due to increase in prevalence of these conditions. Spinal fusion was the fastest growing segment in 2017 owing to the benefits offered by orthobiologics in the treatment.
Based on end user, the market is categorized into hospitals & ambulatory centers, research & academic institute, and dental clinics. The hospitals & ambulatory centers segment held largest share in the market in 2017 and is the fastest growing segment as these facilities are fully equipped for performing the surgeries and have the skilled professionals to carry out the procedures.
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Based on region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The report provides an extensive competitive analysis and profiles of the key market players such as Stryker Corporation, Zimmer Biomet Holdings, Inc., Wright Medical Group, Inc., Integra LifeSciences Holdings Corporation, Arthrex, Inc. (Arthrex), Johnson and Johnson (J&J), Exactec Inc., Medline Industries, Inc., Globus Medical, Inc., and NuVasive Inc.
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