Global Orthobiologics Market to Grow at 4.5% During 2024-2032, Propelled by Advent of Advanced Biologics Technology

As per the latest report by IMARC Group, titled “Orthobiologics Market Report by Product (Demineralized Bone Matrix, Allograft, Bone Morphogenetic Protein, Viscosupplementation Products, Synthetic Bone Substitutes, and Others), Type (Knee, Ankle, Hip, Wrist and Shoulder, Spine, and Others), Application (Osteoarthritis and Degenerative Arthritis, Spinal Fusion, Fracture Recovery, Soft Tissue Injuries, Maxillofacial and Dental Applications), End User (Hospitals and Ambulatory Centers, Research and Academic Institutes, Dental Clinics and Facilities, Orthopedic Clinics), and Region 2024-2032”, the global orthobiologics market reached a value of US$ 6.0 Billion in 2023. Orthobiologics are prescription drugs made by living organisms to heal orthopedic tissues. Some of the common orthobiologics include bone marrow concentrate, platelet-rich plasma (PRP), birth tissues and certain fat grafts. These are autologous or allogeneic substances that are injected or placed surgically toacceleratethe healing of bones, joints, muscles, or tendons.Nowadays, platelet-rich plasma (PRP) is a rapidly gaining tractionin the field of regenerative medicine, showing excellent potential in triggering or expediting the healing process in bones, muscles and ligaments.

Global Orthobiologics Market Trends:

The market is primarily driven by the increasing prevalence of osteoarthritis(OA), especially among the geriatric population. Older adultsare also highly susceptible to spinal and other orthopedic disorders, resulting in the need foran increased number of orthopedic procedures. Besides this, the rising awareness among physicians and patients aboutthe benefits oforthobiologic therapies and newly introduced treatment procedures and technologies have encouraged them to opt for orthobiologics. Moreover, extensive investments and collaborations by prominent medical device and biotechnology companies in the research and development (R&D) to produce advanced orthobiologics are providing a positive market outlook. Some of the other factors, including the growing preference for minimally invasive (MI) procedures, improving healthcare infrastructure and advent of next-generation biologics technology, are also contributing to the market growth. Looking forward, the market is anticipated to grow at a CAGR of 4.5% during the forecast period (2024-2032).

Market Summary:

• Based on the product, the market has been categorized into demineralized bone matrix, allograft, bone morphogenetic protein, viscosupplementation products, synthetic bone substitutes and others.
• On the basis of the type, the market has been segregated into knee, ankle, hip, wrist and shoulder, spine and others.
• The market has been segmented based on the application into osteoarthritis and degenerative arthritis, spinal fusion, fracture recovery, soft tissue injuries, maxillofacial and dental applications.
• Based on end user, the market has been classified into hospitals and ambulatory centers, research and academic institutes, dental clinics and facilities, and orthopedic clinics.
• Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
• The competitive landscape of the market has been examined, with some of the key players being Arthrex Inc, Globus Medical Inc., Integra LifeSciences, Johnson & Johnson, Medline Industries Inc., Medtronic plc, NuVasive Inc, Orthofix Medical Inc., Smith & Nephew plc, Stryker Corporation, Terumo Corporation, Wright Medical Group N.V. and Zimmer Biomet.
   

Report Scope:

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