Coherent Market Insights

Orthobiologics Market to Surpass US$ 10,300.6 Mn by 2030

Orthobiologics Market to Surpass US$ 10,300.6 Mn by 2030 - Coherent Market Insights

Publish In: Dec 20, 2022

Global Orthobiologics Market, by Product Type (Bone Allograft, Machined Bones, Demineralized Bone Matrix, Synthetic Bone Substitutes, Bone Morphogenetic Protein (BMP), Stem Cell Therapy, Viscosupplementation), by Application (Spinal Fusion, Trauma, Reconstructive Surgeries), by End User (Hospitals, Ambulatory Surgical Centers, and Orthopedic Center), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 6,515.2 Million in 2022 and is expected to exhibit a CAGR of 5.9% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

Increasing adoption of inorganic strategies such as product launches by key market players is expected to drive the global orthobiologics market growth over the forecast period. For instance, in Feburary 2022, Orthofix US LLC., a medical device company, announced that they had launched Opus BA, a synthetic bioactive bone graft solution, for cervical and lumbar spine fusion procedures. Opus BA allows bone to grow across the surface and is replaced and reabsorbed with natural bone while healing.

Global Orthobiologics Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been significantly impacted by the COVID-19 pandemic.

Many patients with COVID-19 have a severe respiratory infection that requires hospitalization and mechanical ventilation. Therefore, the COVID-19 pandemic had a negative impact on the global orthobiologics market. For instance, in May 2021, In-Vivo Journal, the number of emergency and trauma visits had decrease from 37.7% to 74.2%, in 2020, globally. Moreover, the trauma surgery and elective surgery had decreased. Hence, it was concluded that orthopaedic and trauma surgery were clearly influenced by the pandemic.

Global Orthobiologics Market: Key Developments

Adoption of inorganic strategies such as acquisition by key market players is expected to drive the global orthobiologics market over the forecast period. For instance, in September 2020, Locate Bio Limited, an orthobiologics company, announced that they had acquired  orthopaedic technologies from the Royal College of Surgeons Ireland to expand its orthobiologics portfolio. The technologies developed by the Royal College of Surgeons Ireland tissue engineering research group have extensive pre-clinical and human data, which demonstrates their effectiveness in treatment of both hard and soft tissues.

Browse 35 Market Data Tables and 34 Figures spread through 170 Pages and in-depth TOC on “Global Orthobiologics Market”- Forecast to 2030, Global Orthobiologics Market, by Product Type (Bone Allograft, Machined Bones, Demineralized Bone Matrix, Synthetic Bone Substitutes, Bone Morphogenetic Protein (BMP), Stem Cell Therapy, Viscosupplementation), by Application (Spinal Fusion, Trauma, Reconstructive Surgeries), by End User (Hospitals, Ambulatory Surgical Centers, and Orthopedic Center), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/orthobiologics-market-1306

Increasing adoption of inorganic strategies such as agreement by key market players is expected to drive the global orthobiologics market growth over the forecast period. For instance, in March 2021, SeaSpine, a medical technology company, announced that it had entered into an agreement to acquire 7D Surgical, Inc., a medical device company. This agreement will combine the 7D platform in spinal implant and orthobiologics portfolios to advance and improve surgical workflow and patient care.

Key Takeaways of the Global Orthobiologics Market:

  • The global orthobiologics market is expected to exhibit a CAGR of 5.9% during the forecast period, due to the increasing adoption of inorganic strategies such as product launch by key market players over the forecast period. For instance, in March 2022, SeaSpine, a medical technology company, announced that they had launched the NorthStar cervical facet fusion and flash navigation lumbar facet fusion, an orthobiologics system, to maximize the area for fusion with OsteoStrand demineralized bone matrix fibers, which is used to unleash the bone-forming capacity and fusion potential contained within the facet joint.
  • Among product type, bone allograft segment is estimated to hold a dominant position in the global orthobiologics market over the forecast period due to the increasing product approval by various regulatory authorities such as Health Canada. For instance, in September 2020, Cerapedics, an orthobiologics company, announced that they had received an approval from Health Canada for i-FACTOR+ Matrix, bone allograft which is use in the repair of bony voids or defects in orthopedic applications throughout the skeletal system.
  • Among regions, North America is estimated to account for the largest market share in the global orthobiologics market over the forecast period, owing to the increasing product approval by various regulatory authorities such as the U.S. Food and Drug Administration. For instance, in November 2019, Cerapedics, an orthobiologics company, announced that they had received the U.S. Food and Drug Administration clearance for i-FACTOR peptide enhanced bone graft, which is used in anterior cervical discectomy and fusion procedures in patients with degenerative cervical disc disease.
  • Major players operating in the global orthobiologics market include Zimmer Biomet, Bone Biologics Corp., Globus Medical, Smith & Nephew Inc., Stryker, ATEC Spine, Inc., XTANT MEDICAL, Johnson & Johnson Services, Inc., Exactech, Inc., Integra LifeSciences, Medtronic, NuVasive, Inc., Orthofix US LLC., SeaSpine, ChitogenX Inc., Spine Wave, Inc., Molecular Matrix, Inc., Isto Biologics, Baxter, Locate Bio Limited, Cerapedics, Ossifix Orthopedics, and Aziyo

 

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