Orthobiologics includes products that are made of substances that are naturally developed in out body. These are incorporated by orthopedic surgeons for bone and tissue repair. These are increasingly being utilized to treat broken bones and injured ligaments, tendons, and muscles.
These products efficiently trigger soft tissue healing in orthopedic surgeries as well as in sports medicine. It includes reinforcement patches, regenerative tissue matrices, and scaffolds. These products have high potential growth prospects due to the presence of physically active population base. Physically active population tends to have ligament tears and other sports injuries that raise the growth potential for these products. On the other hand, obese and geriatric population base are highly susceptible toward the development of orthopedic disorder which is anticipated to fuel the demand further over the coming years.
The market is also presumed to be predominantly fueled by the presence of untapped opportunities in the field of bone healing and fracture repair. The ongoing strategic collaborations employed by key companies are expected to provide a significant growth platform and increase the adoption rate of these products in medical applications.
The global orthobiologics market size is expected to reach USD 10.2 billion by 2025, according to a new study by Grand View Research, Inc. The orthobiologics industry trends is predominantly driven by the increasing orthopedic disease and musculoskeletal disease burden globally. Moreover, emerging technological innovations in biomaterials, used in the production of orthobiologics are presumed to accelerate the market demand over the forecast period and will help grow the competition among the key players, particularly in U.S. These predominantly include modifications in graft designs, advent of recombinant biologic agents, stem cell therapy and cultured tissue scaffolds.
These advancements are accompanied with the benefits such as enhanced biocompatibility, reduced surgical time and smaller incisions. Furthermore, these novel solutions are presumed to efficiently reduce the recurrence of post-operative complications, which in turn is expected to boost the orthobiologics device market during the forecast period.
Further Key Findings from the Study Suggest:
- In 2015, viscosupplementation accounted for the largest share in the product segment owing to being a cost efficient therapeutic alternative for symptomatic management of osteoarthritis
- Spinal fusion held the largest share in the application segment in 2015, owing to presence of third party insurers and reimbursement structure for fusion enhancement products thus triggering growth
- In 2015, North America accounted for the dominant share owing to consistent efforts of industry players in promoting awareness pertinent to the orthobiological products resulting in significant rise in adoption rate
- Asia Pacific is anticipated to exhibit an exponential CAGR as a consequence of significant surge in healthcare spending and awareness levels with respect to the availability of orthobiologics
- The prominent players are consistently indulging into extensive strategies to gain competitive position including regional expansion and mergers & acquisitions to capture a greater share of the orthobiologics market
- For instance, in November 2015, Bioventus acquired BioStructures, a bioabsorbable bone graft developer. This acquisition was carried out to expand orthobiologics product portfolio and grafting solutions in order to expand their market share
