GLOBAL ORTHOBIOLOGICS MARKET SIZE (2024 - 2030)

According to the report published by Virtue Market Research in Global Orthobiologics Market was valued at USD 5.49 billion and is projected to reach a market size of USD 6.98 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 3.5 %.

MARKET OVERVIEW

Regenerative cellular therapies are another name for orthobiologics. Orthobiologics products contain or produce growth factors to aid tissue repair, reduce pain, and help restore normal function. There are many distinct forms of orthobiologics on the market, each with its mode of action. Autologous stem cells come from the patient's own body and divide under the correct conditions to generate progenitor cells. Orthobiologics are used to treat a variety of ailments, including fracture rehabilitation, spinal fusion, and more. The hip, knee, ankle, spine, wrist, and other body parts are also accessible. Orthobiologics are mostly used to aid in the speedier healing of injuries.

Many multinational corporations are focusing on orthobiologics product development. Furthermore, ortho biologics' numerous beneficial qualities have lately been utilised in the field of medical science. The worldwide orthobiologics market is currently experiencing strong expansion due to rising demand for cost and time-efficient products. The orthobiologics market is expected to be driven by recent advancements in the sector and expanding healthcare explorations over the forecast period.

The increased global elderly population, which is prone to ailments such as osteoarthritis and others, boosts growth. Other factors projected to drive the market growth include increased awareness of orthobiologics and increased demand for improved therapy. Other important reasons driving the growth of the orthobiologics market are the rise in obesity and the number of sports and road accidents.

Covid-19 Impact on orthobiologics market

Since its inception, the current coronavirus pandemic has created unprecedented challenges to healthcare institutions and other corporate sectors. Several countries, notably the United States, put a temporary restriction on elective surgery between March-May 2020, to slow the spread of the virus and conserve crucial resources like PPE and ventilators. As a result of these actions, an increasing number of orthopaedic patients were unable to receive medical care throughout the crisis, creating barriers to the industry's stable expansion.

A surgery backlog is expected as a result of the large delay in treatment. According to studies, the post-pandemic backlog in orthopaedic surgery for joint replacements and spinal fusions will exceed one million. This could increase demand for orthobiologic devices in the post-COVID era as a viable non-surgical treatment option for people with orthopaedic problems.

MARKET DRIVERS

The orthobiologics market is being driven by growth in the healthcare sector.

The global healthcare sector is developing as people become more aware of effective healthcare treatments and their disposable income rises. The orthobiologics market is expanding globally due to the significant growth of the healthcare industry in developing countries. Increased research spending on orthopaedic biologic solutions indicates that orthobiologics will rise in the next years. The growing geriatric population, combined with the current population's adoption of a sedentary lifestyle, is expected to boost the orthobiologics market significantly throughout the projected period. Because of the expanding number of industry-institution collaborations, a wide range of pipeline products are projected to gain traction in the orthobiologics market.

The market is expanding due to the rising number of disorders due to changes in lifestyle

Over the projected period, the global orthobiologics market is expected to be driven by increasing urbanisation and hectic lifestyles that necessitate quick and efficient orthopaedic solutions that promote a fast recovery and reduce hospital visits. The market is expected to grow steadily due to rising occurrences of lifestyle-related diseases, trauma cases, and long-term ailments. Furthermore, the growing number of sports injuries, accidental instances, and rising obesity and arthritis prevalence are expected to boost the orthobiologics market significantly throughout the forecast period. According to industry analysts, the expansion of orthobiologics is extremely promising.

MARKET RESTRAINTS

Market expansion is being hampered by strict standards and complicated procedures.

Stringent regulatory standards connected with new research solutions, as well as the difficultness of paving the path for new orthobiologics solutions due to variable cost restraints, are projected to impede the orthobiologics market in emerging nations throughout the forecast period. Moreover higher cost associated is also predicted to impede the market growth.

The market's expansion is being hampered by high costs and inadequate reimbursements.

Despite the favourable growth conditions, increased problems among patients after intradiscal orthobiologic injection and high surgical costs among patients with comorbidities may limit the industry's market share in the coming years.

High costs and poor reimbursements for orthobiologics goods and procedures are other important issues limiting the market's growth. One of the major roadblocks to the market's expansion is the high cost of orthobiologics treatments and products.

ORTHOBIOLOGICS MARKET REPORT COVERAGE:

This research report, based on the Orthobilogics market is segmented and sub-segmented by product, application, end-user and region.

Orthobiologics market by product

• Demineralized Bone Matrix

• Allograft

• Bone Morphogenetic Protein {BPM}

• Viscosupplementation Products

• Synthetic Bone Substitutes and Others

In 2021, the Viscosupplementation product group accounted for the greatest share of the orthobiologics market. This is owing to the products' superior reimbursement scenario, as they have been approved by the US FDA. Furthermore, the payment scenario is projected to boost the use of Viscosupplementation even further. The reimbursement policy for viscosupplementation products in France is well-defined.

Furthermore, during the projected period, the viscosupplementation product is the fastest expanding segment, with a CAGR of 4.8 per cent from 2023 - 2030. This is due to an increase in the senior population, an increase in the prevalence of osteoarthritis, and an increase in lifestyle-related illnesses including obesity.

Orthobiologics market by application

• Osteoarthritis & Degenerative Arthritis

•  Spinal Fusion

•  Fracture recovery

•  Soft Tissue Injuries

•  Maxillofacial & Dental Applications,

In the application sector, spinal fusion accounted for more than half of the market share. The market's demand is boosted by the penetration of demineralized bone matrices, bone morphogenetic proteins, autografts, and allografts in spinal fusion surgeries.

The advantages of ortho biotic products in spinal fusion, such as quick stimulation of cells to commence bone production, reduced hospital stay time, and reduced hospital visits, are factors that are thought to be responsible for the application segment's increased share. The presence of third-party insurances for fusion enhancement products is also thought to have contributed to ortho biologics' increased market share.

Orthobiologics market by end-user

• Hospitals

• Ambulatory Centres

• Research & Academic Institute

• Dental Clinics

In the end-user segment, hospitals hold a large stake. The key driver giving the most important shares to this segment is the increasing acceptance of ortho biological products in a wide range of spinal and reconstructive procedures conducted in hospitals. This market is expected to develop due to specialised patient care and the simple availability of a large range of orthobiologics in hospitals.

The segment grew as a result of high patient turnover, frequent readmissions, and huge operation volumes. The supportive infrastructure enables precise operating procedures, which contributes to the segment’s growth.

Orthobiologics market by region

• North America

• Europe

• Asia-Pacific

• Latin America

• The Middle East and Africa

In terms of region, North America led the worldwide orthobiologics market in 2021, followed by Europe and the Asia Pacific. This region's share is attributable to the existence of a large number of major firms interested in promoting quality care and developing new product development strategies in this region. Soft tissue healing and fusion improvement goods are also eligible for reimbursement, which contributes significantly to the regional share.

Due to an increase in the senior population and an increase in obesity, Asia-Pacific holds a substantial proportion of the orthobiologics market and has high development potential. Other factors that contribute to the growth of the orthobiologics market in this area include an increase in disposable income, an increase in research, development, and innovation activities, and an increase in awareness about the usage of orthobiologics. Furthermore, an increase in the frequency of sports-related and road-related incidents is propelling the orthobiologics market forward.

The rising prevalence of chronic arthritis, osteoarthritis, and other orthopaedic diseases are also contributing to the growth of the orthobiologics market in Asia-Pacific. As a result of the aforementioned circumstances, demand for orthobiologics has increased in Asia-Pacific.

Orthobiologics market by company

1. Medtronic

2. Smith & Nephew plc

3. Stryker Corporation

4. DePuy Synthes, Inc.

5. Genzyme 

New product development activities, collaborations and distribution enhancement tactics, mergers and acquisitions, and frequent product approval are all heavily incorporated by the aforementioned companies.

For example, NuVasive Inc. of the United States launched AttraX Putty, a next-generation biologics technology, in May 2020. It's a synthetic bone graft used as an autograft extender in posterolateral spinal surgery. This product launch was carried out to broaden the product portfolio and obtain a competitive edge over competitors.

NOTABLE HAPPENINGS IN THE ORTHO BIOLOGICS MARKET IN THE RECENT PAST.

• PRODUCT LAUNCH

In Mar 2022 SeaSpine introduced the NorthStar cervical facet fusion and the Flash Speed lumbar facet fusion. With OsteoStrand DBM fibres trapped within the facet joint, SeaSpine claims to have developed the first-of-its-kind orthobiologic systems to expedite replicable procedural operations while optimising the region for fusion. The NorthStar facet fusion device, which combines OsteoStrand DBM fibre cervical pellets with a disposable facet prep apparatus, is now available for purchase. All of this is made to function with the NorthStar OCT posterior cervical fixation device from SeaSpine.

• JOINT VENTURE

In Feb 2022 Ortho Regenerative Technologies Inc. signed a Material Transfer Agreement with an undisclosed industry-leading worldwide strategic medical company for the exclusive use of their patented platelet-rich plasma system in Ortho's future ORTHO-R rotator cuff tear repair procedure.

• COLLABORATIONS

In June 2021, DePuy Synthos, a franchise of orthopaedic and neurosurgical companies that is part of Johnson & Johnson Medical Devices Group, has inked a distribution deal with Expanding Innovations Inc. of Mountain View, California, for the X Pac Expandable Lumbar Cage System in the United States. DePuy Synthes claims that this product will enable them to provide a comprehensive procedural solution for the lumbar degenerative and minimally invasive spine segments.