Orthobiologics Market by Products (Viscosupplementation Products, Synthetic Bone Substitutes, Demineralized Bone Matrices, Bone Morphogenic Protein, Allografts, and Stem Cells), Application (Osteoarthritis & Degenerative Arthritis, Spinal Fusion, Fracture Recovery, Soft-Tissue Injuries, and Maxillofacial & Dental Applications), End User (Hospitals & Orthopedic Clinics, Ambulatory Care Centers, Research & Academic Institutes, and Dental Clinics & Facilities)–Global Outlook & Forecast 2021-2031
According to the deep-dive market assessment study conducted by Growth+ Reports, the global orthobiologics market
was pegged at ~US$ 5.44 billion in 2020. The market is expected to witness a CAGR of ~5.4% from 2021 to 2031.
Factors contributing to the growth of the orthobiologics market include the rising prevalence of arthritis and spinal disorders and the increasing number of orthopedic surgeries. Moreover, the growing incidence of sports injuries, rising geriatric population base, and increasing demand for minimally invasive surgeries are some of the other factors playing a pivotal role in driving the orthobiologics market growth. However, the high cost of biologics-based treatments and the chances of severe side effects are some of the factors hindering the orthobiologics market growth to a certain extent.
The rising geriatric population globally and the growing number of people suffering from arthritis and other spine-related disorders are among the key factors boosting the growth of the global orthobiologics market. According to the Centers for Disease Control and Prevention (CDC), every 1 in 4 (or 54.4 million) US adults have some form of arthritis, a figure that is projected to reach 78 million by 2040. Therefore, the rising number of arthritis cases coupled with the growing need for biologics are expected to propel the market growth during the forecast period.
The rising popularity of various sports globally and increasing incidence of sports-related injuries are also driving the growth of the orthobiologics market. According to the statistics from Stanford Children’s Health, in the U.S., ~30 million children and teens participate in some form of organized sports and more than 3.5 million children and adolescents ages 14 years and younger get hurt annually playing sports or participating in recreational activities. Such a high incidence of sports-related injuries has led to the increasing need for medicines and devices to manage these injuries, which in turn is propelling the growth of the orthobiologics market.
Moreover, companies in the orthobiologics market are focused on researching and launching new biologics for various orthopedic disorders. For instance, in April 2021, Ventris Medical launched a next-generation osteoinductive fiber allograft, Allocell AF. Allocell AF helps in enhanced intra-operative handling and increased biologic responsiveness at the defect site. Such new product launches are playing a pivotal role in fueling the growth of the orthobiologics market. Moreover in June 2020, Bioventus launched its Signafuse Bioactive Bone Graft in a new strip format and also received 510(k) clearance. These strips consist of 55% bioglass by weight and have been shown to induce higher levels of osteoblast differentiation compared to other synthetic bone graft strips.
However, there are certain limiting factors hindering the adoption of orthobiologics including limited supply, donor site morbidity, and high cost. Moreover, the potential risk of infection, no osteogenic potential, or potential host rejection are some of the other disadvantages of using orthobiologics. Hence, such disadvantages are limiting the growth of the orthobiologics market to a certain extent.
Regionally, Asia Pacific is expected to grow at a higher CAGR during the forecast period. Several factors are contributing to the growth of the market in this region including the rising geriatric population, increasing incidence of sports injuries, and growing patient population. Moreover, the growing preference for minimally invasive procedures and the growing use of biologics for treating such conditions are some of the other factors contributing to the growth of the orthobiologics market in this region. North America is expected to dominate the market for orthobiologics during the forecast period owing to the rising geriatric population, increasing incidence of arthritis, better reimbursement policies, and growing preference for minimally invasive procedures among the population. Furthermore, the dense presence of the prominent players and new product launches have also played a pivotal role in propelling the growth of orthobiologics market in this region.
Some of the prominent players operating in the global orthobiologics market include Medtronic, DePuy Synthes, Stryker, Zimmer Biomet, Orthofix Medical Inc., Smith & Nephew, Bone Biologics Corp., Globus Medical, Bioventus, and RTI Surgical, among others.
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