Orthobiologics Market size was valued at USD 5.0 Billion in 2015 and is anticipated to reach USD 10.2 billion by 2025, with a CAGR of 7.5%. Orthobiologics are elements which the orthopedic surgeons use to heal the wounds more quickly. They are utilized for the healing of injured muscles, ligaments, tendons, and broken bones. They are made up of substances found in the human body itself. These elements found popularity owing to factor such as faster healing, quick recovery, and a decrease in the number of hospital visits. The orthobiologics market provides a huge number of opportunities for growth to its shareholders.
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The key driving factors responsible for the growth of Orthobiologics
market :
The global orthobiologics market
is poised for growth owing to the increased levels of geriatric population,
technological advancements, changing lifestyles and problems related to the
musculoskeletal system. The increasing trends of musculoskeletal procedures are
seen to be the biggest driver for the market. Establishing strategic
partnerships for the purpose of marketing is also expected to boost the demand
for the global orthobiologics market. Several merchants are forming strategic
partnerships to diversify their businesses, grow their overall market share and
spread out their product offerings. These type of strategic alliances help the
organizations to align their technologies with one another’s inventive medical
device range.
A growth in the global
orthobiologics market is projected on account of the requirement for safer,
more effective and modern orthopedic biologic treatment. The rise in the number
of obesity and arthritis cases also fuels the demand for orthobiologics
treatment. The bone graft procedure accounted to be the largest segment in the
global orthobiologics market.
The shifting preference to
biological implants from mechanical implants is accelerating the growth of this
market. Another important trend that is estimated to enhance the growth of the
market over next eight years is the increase in funds to improve
orthobiologics. Factors such as growing advances in technology, the prevalence
of a huge number of chronic and unidentified diseases, initiatives by the
government and rise in life expectation may favorably impact the market growth.
Along with this, the rising incidences of injuries by sports & road
accidents and growing awareness among athletes are also driving the demand for
the market.
However, lack of clear
reimbursement procedures and rigorous rules may create major hindrances for the
orthobiologics demand in the market. The improvements in developing
alternatives for pharmaceuticals, for making medical treatments more preventive
than curative along with the country’s policy for decreasing the deficit in the
budget is expected to negatively impact the global orthobiologics market.
Furthermore, high costs for the procedure, lack of reliable clinical trial data
and strict regulations for the approval of orthobiologics products may pose
challenges to the market growth over the forecast period.
The global orthobiologics market
has been segmented based on its applications and product types. On the basis of
application, the market been classified into spinal surgery, joint replacement
& reconstruction, and trauma surgery. On the basis of product types, the
market has been segmented into bone graft substitutes, bone growth stimulators,
and viscosupplements. The bone graft substitutes have further been segmented
into demoralized bone matrix (DBM), bone morph genic proteins (BMP), bone
allografts, and bone autographs. Additionally, viscosupplements has also been
further segmented into single injection viscosupplements, 3-injection
viscosupplements, and 5-injection viscosupplements.
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