The orthobiologics market is estimated to be valued at USD 7.21 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period (2024-2031). The global orthobiologics market is driven by the rising incidence of sports injuries and joint disorders such as osteoarthritis. Furthermore, the growing geriatric population who are more prone to orthopedic diseases will fuel the market growth.
Market Dynamics:
The orthobiologics market is primarily driven by the rising incidence of sports injuries and osteoarthritis. Sports injuries have increased manifold over the years owing to greater participation in sports and recreational activities. According to Standforth Medicine Childre’s Health, over 3.5 million sports injuries are recorded annually in the U.S. alone. Moreover, osteoarthritis is one of the most common joint disorders globally, affecting over 300 million people worldwide. The increasing geriatric population is another key driver as aging enhances the risks of joint disorders and bone-related diseases. Older people tend to experience more wear and tear of joints over time. Additionally, advancements in biomaterial science have led to the development of novel bioactive molecules, which is expanding the application scope of orthobiologics.
Increasing incidence of musculoskeletal injuries
Musculoskeletal injuries like bone fractures, spinal injuries, etc. are on the rise globally due to factors like aging population, increasing participation in sports, and road accidents. According to World Health Organization (WHO), over 1.71 billion people suffer from musculoskeletal conditions globally. The incidence of musculoskeletal injuries is expected to grow further with rising geriatric population who are more prone to bone conditions like osteoarthritis. This growing patient pool suffering from musculoskeletal injuries and disorders is a major market driver fueling the demand for orthobiologics which help in faster healing and regeneration of injured bones and tissues.
Advancements in biomaterial science and tissue engineering
Significant research and development over the past decade in the fields of biomaterial science and tissue engineering has led to breakthrough innovations and launch of novel orthobiologics products with improved efficacy. Technologies like stem cell therapy and gene therapy are transforming the orthopedic treatment landscape. Continuous innovation through adoption of technologies like 3D printing, biomimetic scaffolds, etc. is helping develop next-generation orthobiologics solutions that can closely mimic natural tissues. The introduction of such advanced therapeutic options is boosting the orthobiologics market growth.
High cost of advanced therapies
While innovative orthobiologics are bringing efficiency in bone regeneration and repair, the high costs associated with advanced treatment methods like stem cell therapy, gene therapy, tissue engineering, etc. is a major restraint for widespread adoption, especially in developing economies. This financial barrier restricts access to next-generation orthobiologics for a large patient pool relying on public insurance or having low out-of-pocket capacity. Affordability challenges restrain the overall market potential of latest orthobiologics technologies.
Stringent regulatory approvals
As orthobiologics involve human tissues, cells or are derived from biological sources, they are subject to stringent regulatory guidelines and approvals before marketing authorization. The compliance requirements for clinical trials, manufacturing facilities, and post marketing surveillance by regulatory bodies like U.S. Food and Drug Administration and European Medicine Agency increase the approval timelines and costs significantly for orthobiologics developers. The complex and lengthy regulatory landscape poses challenges especially for small companies and deters innovations in this space to some extent.
Growth in emerging economies
Fast growing economies like India, China, Brazil, Mexico, etc. are witnessing a rise in the middle class population with increasing purchasing power. Along with economic development, there is a growing prevalence of lifestyle diseases and injuries in these regions representing major untapped markets for the orthobiologics market. With improving access to healthcare insurance and substantial healthcare infrastructure spending by governments, emerging nations provide huge opportunities for orthobiologics players for geographical expansion.
Link - https://www.coherentmarketinsights.com/market-insight/orthobiologics-market-1306
Key Development
- On February 13, 2024, Tetrous, Inc., a regenerative medicine company, announced the launch of EnFix TAC to its family of EnFix demineralized bone allograft implants for use in rotator cuff surgery
- In October 2023, Orthofix US LLC., a global spine and orthopedics company, announced the launch of OsteoCove, an advanced bioactive synthetic graft for use in spine and orthopedic procedures
- In April 2023, ZimVie Inc., a global life science company, announced the launch of RegenerOss CC Allograft Particulate, a natural blend of cortical and cancellous bone particles that can be used to fill bony voids in a variety of dental applications, and the RegenerOss Bone Graft Plug, an easy-to-use grafting solution for filling extraction sockets and periodontal defects
- In June 2022, AlloSource, allograft providers in the U.S., announced the addition of AlloFuse Micro Fibers Demineralized Bone allograft for use in spinal, foot and ankle or other orthopedic procedures. AlloFuse Micro Fibers are made of 100 percent demineralized cortical bone and does not contain any form of carrier.
- In March 2022, Molecular Matrix, Inc., a regenerative medicine polymer technology company, announced that it had launched Osteo-P Synthetic Bone Graft Substitute (BGS) for use in the musculoskeletal system. Osteo-P BGS is made using Molecular Matrix, Inc.’s hyper-crosslinked carbohydrate polymer (HCCP) technology platform which has been engineered to optimize the microenvironment for bone repair and regeneration.
Key Players: Zimmer Biomet, Bone Biologics Corp., Globus Medical, Stryker, ATEC Spine, Inc., XTANT MEDICAL, Johnson & Johnson Services, Inc., Exactech, Inc., NuVasive, Inc., Orthofix US LLC., SeaSpine, Spine Wave, Inc., Locate Bio Limited, Cerapedics, Ossifix Orthopedics, Arthrex Inc., and MTF Biologics