Rising Chronic Arthritis Cases and Increased Older Population Boost Demand Opportunities for Orthobiologics Market Players: TMR
- The global orthobiologics market is projected to expand at promising pace and reach valuation of US$ 7.9 Bn by 2026 end. Growth in arthritis patient and older populations is likely to fuel market development.
- On regional front, Asia Pacific is likely to be the rapidly growing region of orthobiologics market.
Oct 26, 2020, 12:30 ET
ALBANY, N.Y., Oct. 26, 2020 /PRNewswire/ -- Orthobiologics refer to tissue and bone replacement materials. Orthopedic surgeons utilize these materials for fast recovery of patients dealing with issues related with muscles, tendons, ligaments, and broken bones. The global orthobiologics market is estimated to gain promising expansion opportunities in the years ahead on the back of increased number of reconstructive surgeries, trauma repair, and spinal fusion.
Analysts at TMR underline that the global orthobiologics market is likely to show promising growth at 5.5% CAGR during the forecast period of 2018 to 2026. Growing number of older populace all across the globe and rising cases of chronic arthritis are some of the key factors that are likely to fuel the market expansion during assessment period.
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Key Findings of Orthobiologics Market Report
- The global orthobiologics market is foreseen to grow at a CAGR of 5.5% during 2018–2026.
- The market is estimated to gain the valuation of approximately US$ 7.9 Bn by the end of 2026.
- The total valuation of the orthobiologics market was at around US$ 4.8 Bn in 2017.
- Of all product types, viscosupplements was dominant segment of this market in 2017.
- Of all applications, spinal fusion segment held largest share of the orthobiologics market in 2017.
- Among all end-user segments, hospital segment is estimated to gain promising demand opportunities in the years ahead.
- On regional front, North America held major market share in 2017.
Explore 251 pages of top-notch research, incisive insights, and detailed country-level projections on Orthobiologics Market (Product - Bone Morphogenetic Proteins, Demineralized Bone Matrix, Synthetic Bone Substitutes, Viscosupplements, Allografts, Stem Cell; Application - Spinal Fusion, Trauma Repair, Reconstructive Surgeries; End user - Hospitals, Orthopedic Clinics) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026 at https://www.transparencymarketresearch.com/report-toc/1747
Orthobiologics Market: Key Driving Factors and Promising Avenues
- The global orthobiologics market is predicted to show upward graph of revenues during 2018–2026. Key reasons attributed to this growth are rising occurrence of chronic arthritis and remarkable growth in the older population all across the globe.
- In recent years, major worldwide population is inclined toward biologics in minimally invasive procedures. This aside, increased awareness among patient population is one of the important factors driving the demand in the global orthobiologics market.
- Upsurge in incidences of nerve and tendon injuries, orthopedic injuries, accident injuries, and sports injuries is predicted to boost the orthobiologics market growth in the years ahead.
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Orthobiologics Market: Competitive Assessment
- Owing to presence of many active players, the competitive landscape of the global orthobiologics market is fierce. To maintain their leading position in the market, several players are utilizing organic as well as inorganic strategies. Growing number of merger and acquisition activities denotes that the market for orthobiologics will expand at rapid pace in the years ahead.
- Several vendors in orthobiologics market are growing concentration on the development of advanced products with an ability to minimize the healing and recovery time. They are also focused on providing products with superior biocompatibility and no or minimum adverse effects. All these efforts are likely to stimulate the growth of the global orthobiologics market in the upcoming years.
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- Many enterprises operating in the orthobiologics market are growing focus on the incorporation of technological advancements. This strategy is helping them offer superior quality products. This aside, several players are concentrated on strengthening their product portfolio. Owing to all these activities, the orthobiologics market is predicted to show promising growth in the forthcoming years.
- The list of important companies working in the orthobiologics market includes DePuy Synthes (Johnson & Johnson), Medtronic, Seikagaku Corporation, Sanofi, MTF Biologics, Stryker, Arthrex, Bioventus, RTI Surgical, Inc., Zimmer Biomet, Exactech, Inc., Alphatec Spine, Inc., Integra LifeSciences, and Globus Medical, Inc.
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The orthobiologics market can be segmented as follows:
- Bone Morphogenetic Proteins
- Demineralized Bone Matrix
- Synthetic Bone Substitutes
- Stem cell
- Spinal Fusion
- Trauma Repair
- Reconstructive Surgeries
- Orthopedic Clinics
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Stem Cells Market: The quick improvement of the framework that is required for the immature microorganism banking and preparing, particularly in creating economies is anticipated to support the development of the worldwide stem cells market in the coming years. In addition, the positive guideline for undeveloped cells is probably going to help the stem cells market development sooner rather than later
Spinal Fusion Devices Market: Transparency Market Research (TMR) has projected the global spinal fusion devices market to reach US$10.96 bn by the end of 2025, rising steadily at 4.65% CAGR between 2017 and 2025. In the coming years, the market will gain from the increasing geriatric population as aged people are more vulnerable to spine disorders. Furthermore, with several technological advancements underway, experts predict sustainable growth for the global spinal fusion devices market
Surgical Drainage Devices Market: According to the report, the global surgical drainage devices market was valued at US$ 2.9 Bn in 2018 and is anticipated to expand at a CAGR of 3.9% from 2019 to 2027, aging population, increasing number of surgeries, increase in incidences of target diseases are projected to drive the global market during the forecast period
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