Quick News Bit

Orthobiologics Market Size to Hit USD 12.33 billion by 2029

0

Pune, India, Sept. 19, 2022 (GLOBE NEWSWIRE) — The global orthobiologics market size was valued at USD 7.63 billion in 2021. The market is expected to grow from USD 8.56 billion in 2022 to USD 12.33 billion by 2029, exhibiting a CAGR of 5.4% during the forecast period. Increasing adoption of stem-cell allografts and rapid adoption of viscosupplements for delayed total knee replacements are expected to foster the industry’s growth. Fortune Business Insights™ provides this information in its report titled “Orthobiologics Market, 2022-2029.

Key Industry Development

  • October 2021- AlloSource announced its novel AlloMend Extra-Large (XL) Acellular Dermal Matrix (ADM) to expand its product offerings.

Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/orthobiologics-market-100173

Report Scope

Report Coverage Details
Forecast Period 2022 to 2029
Forecast Period 2022 to 2029 CAGR 5.4%
2029 Value Projection USD 12.33 Billion
Base Year 2021
Market Size in 2022 USD 8.56 Billion
Historical Data for 2018 to 2020
No. of Pages 181

Drivers and Restraints

Rising Orthopedic Injuries to Bolster the Market’s Progress

Orthobiologics are prepared using substances naturally obtained from the body, enhancing the healing process. Increasing orthopedic injuries are expected to foster the product demand. Furthermore, rising incidences of osteoporosis disorders are expected to foster the demand for effective healthcare services. Moreover, there is an increasing prevalence of hip and backbone fractures. Also, increasing product launches by companies is expected to elevate this industry’s growth. For example, Royal Biologics announced its novel MAGNUS in January 2020. These factors are likely to drive the orthobiologics market growth.

However, issues regarding bone morphogenetic proteins and clinical limitations are likely to hinder the market’s progress.

Click here to get the short-term and long-term impact of COVID-19 on this market.

Please visit: https://www.fortunebusinessinsights.com/industry-reports/orthobiologics-market-100173

Regional Insights

Rapid Biologics Adoption for Bone-related Disorders & Injuries to Propel Market Growth in North America

North America is projected to dominate the orthobiologics market share due to rapid biologics adoption for bone-related disorders & injuries. The market in North America was valued at USD 3.65 billion in 2021 and is expected to gain a huge portion of the global market in the coming years. Further, the presence of a huge patient population is expected to bolster the industry’s growth.

In Europe, rising favorable health policies are expected to bolster the adoption of orthobiologics. Furthermore, the rising focus of companies on introducing new products is expected to elevate the industry’s growth. 

COVID-19 Impact:

Decreasing Patient Volume Hindered Market Progress

This market was negatively affected during the COVID-19 pandemic due to decreasing patient volume. The sudden patient spike led to a lack of in-patient visits, hindering the industry’s growth. Furthermore, restrictions on manufacturing led to a lack of resources available to produce effective products and services. Moreover, the restrictions on transport and travel led to a lack of raw materials required to produce orthobiologics. However, the post COVID-19 relaxations allowed manufacturers to elevate their production capacities and enhance their sales.

Quick Buy –  Orthobiologics Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/100173

Segmentation

Viscosupplements Segment to Dominate Owing to Rising Prevalence of Degenerative Arthritis

By product type, the market is segmented into viscosupplements, bone growth factors, Demineralized Bone Matrix (DBM), synthetic bone substitutes, cellular allograft, allografts, and others. The viscosupplements segment is expected to dominate attributable to the rising prevalence of degenerative arthritis

Spinal Fusion Segment to Hold Major Market Share Owing to Rising Spinal Fusion Treatments

Based on application, this market is classified into spinal fusion, maxillofacial & dental, soft tissue repair, reconstructive & fracture surgery, and others. The spinal fusion segment is expected to hold a major market share due to rising spinal fusion treatments.

Hospitals & ASCs Segment to Dominate Owing to Huge Patient Volume

As per end-user, the market is categorized into hospitals & Ambulatory Surgical Centers (ASCs), specialty clinics, and others. The hospitals & ASCs segment is expected to dominate attributable to huge patient volumes.

Geographically, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Market Segmentation By Product Type

  • Viscosupplements
  • Bone Growth Factors
  • Demineralized Bone Matrix (DBM)
  • Synthetic Bone Substitutes
  • Cellular Allograft
  • Allografts
  • Others
By Application

  • Spinal Fusion
  • Maxillofacial & Dental
  • Soft Tissue Repair
  • Reconstructive & Fracture Surgery
  • Others
By End-user

  • Hospitals & Ambulatory Surgical Centers (ASCs)
  • Specialty Clinics
  • Others

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

List of Key Players Profiled in the Report

  • Medtronic (Ireland)
  • Zimmer Biomet (U.S.)
  • DePuy Synthes (Johnson & Johnson Services, Inc.) (U.S.)
  • Stryker (U.S.)
  • Anika Therapeutics, Inc. (U.S.)
  • SeaSpine (U.S.)
  • Bioventus (U.S.)
  • RTI Surgical (U.S.)
  • MTF Biologics (U.S.)
  • Arthrex, Inc. (U.S.)
  • Smith & Nephew (U.K.)

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/orthobiologics-market-100173

Major Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Trends
  • Key Insights
    • Epidemiology of Clinical Indications
    • Regulatory Scenario for Key Countries
    • Number of Key Spinal Fusion Procedures in the U.S., by Type, 2021
    • New Product Launches
    • Key Industry Developments (Mergers, Acquisitions, and Partnership)
    • Impact of COVID-19 on the Market
  • Global Orthobiologics Market Analysis, Insights and Forecast, 2018-2029
    • Market Analysis, Insights and Forecast – By Product Type
      •  Viscosupplements
      •  Bone Growth Factors
      •  Demineralized Bone Matrix (DBM)
      •  Synthetic Bone Substitutes
      •  Cellular Allograft
      •  Allografts
      •  Others
    • Market Analysis, Insights and Forecast – By Application
      •  Spinal Fusion
      •  Maxillofacial & Dental
      •  Soft Tissue Repair
      •  Reconstructive & Fracture Surgery
      •  Others
    • Market Analysis, Insights and Forecast – By End-user
      •  Hospitals & Ambulatory Surgical Centers (ASCs)
      •  Specialty Clinics
      •  Others
    • Market Analysis, Insights and Forecast – By Region
      •  North America
      •  Europe
      •  Asia Pacific
      •  Latin America
      •  Middle East & Africa
  • North America Orthobiologics Market Analysis, Insights and Forecast, 2018-2029
    • Market Analysis, Insights and Forecast – By Product Type
      •  Viscosupplements
      •  Bone Growth Factors
      •  Demineralized Bone Matrix (DBM)
      •  Synthetic Bone Substitutes
      •  Cellular Allograft
      •  Allografts
      •  Others
    • Market Analysis, Insights and Forecast – By Application
      •  Spinal Fusion
      •  Maxillofacial & Dental
      •  Soft Tissue Repair
      •  Reconstructive & Fracture Surgery
      •  Others
    • Market Analysis, Insights and Forecast – By End-user
      •  Hospitals & Ambulatory Surgical Centers (ASCs)
      •  Specialty Clinics
      •  Others
    • Market Analysis, Insights and Forecast – By Country

Continued…           

Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/orthobiologics-market-100173

About Us:

Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

Pune – 411045, Maharashtra, India.

Phone:

US :+1 424 253 0390

UK : +44 2071 939123

APAC : +91 744 740 1245

Email: [email protected]

For all the latest Health News Click Here 

 For the latest news and updates, follow us on Google News

Read original article here

Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Leave a comment