Seattle, WA -- (SBWire) -- 10/02/2019 --Global Orthobiologics Market, By Product Type (Demineralized Bone Matrix (DBM), Allograft, Bone Morphogenetic Protein (BMP), Viscosupplementation Products, Synthetic Bone Substitutes, and Stem Cell Therapy), By Application (Osteoarthritis and Degenerative Arthritis, Spinal Fusion, Fracture Recovery, Soft Tissue Injuries, and Maxillofacial and Dental Applications), By End User (Hospitals, Ambulatory Care Centers, and Dental Clinics) and by Geography - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Orthobiologics are substances that are used in treatment of injuries such as ligament fractures, muscle injuries, and tendons within short period of time. Typically used by orthopedic surgeons, orthobiologics are made from naturally occurring substances in the body. Bone grafts, autologous conditioned serum, autologous blood, growth factors, platelet-rich plasma, and stems cells are some common orthobiologics.
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Growing prevalence of injuries and factures due to falls and road accidents are expected to fuel growth of the global orthobiologics market
According to the World Health Organization (WHO), 2017, severe falls are the second-leading cause of accidental injury and factures worldwide. Moreover, around 646,000 individuals die from falls, annually around the world. This, in turn, is expected to create a lucrative environment for growth of the global orthobiologics market over the forecast period.
According to the World Health Organization (WHO), in 2017, around 1.25 million deaths were recorded and 20 to 50 million people suffered from severe injuries and fractures. Increasing number of factures due to road accidents is expected to drive growth of the global orthobiologics market in the near future. Furthermore, increasing geriatric population, which highly vulnerable to injuries and accidents, is expected to drive growth of the market. According to National Institute of Health (NIH), in 2016, around 8.5%, which is around 617 million of the world population, was aged 65 years and above. Due to fragile skeleton, injuries and fractures are quite prevalent in geriatric population, which is expected to drive growth of global orthobiologics market. However, high-cost associated with orthobiologics-based treatment is expected to hinder the market growth in the near future.
Global Orthobiologics Market Taxonomy
The global orthobiologics market is segmented on the basis of product type, application, and end user.
By Product Type:
- Demineralized Bone Matrix (DBM)
- Allograft
- Bone Morphogenetic Protein (BMP)
- Viscosupplementation Products
- Synthetic Bone Substitutes
- Stem Cell Therapy
By Application:
- Osteoarthritis and Degenerative Arthritis
- Spinal Fusion
- Fracture Recovery
- Soft Tissue Injuries
- Maxillofacial and Dental Applications
By End User:
- Hospitals
- Ambulatory Care Centers
- Dental Clinics
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North America is expected to hold a dominant position in the market, owing to rapid development of new innovative products by key players present in region
North America is expected to hold a dominant position in the global orthobiologics market, owing to rapid research activities and development of innovative products by key players in the region. For instance, in 2015, NuVasive Inc., a U.S.-based company, launched its new innovative biologics technology, AttraX Putty, which is a synthetic bone graft, indicated in posterolateral spinal surgery as an autograft extender. Asia Pacific is expected to witness rapid growth, owing to growing geriatric population in the region. According to The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), 2016, the Asia Pacific region recorded around 60 percent of the geriatric population across the globe. The region recorded around 547 million people aged 65 years and above, which is projected to reach up to 1.3 billion by 2050.
Furthermore, major players in the market are focusing on inorganic growth strategies such as mergers and acquisitions, gain competitive edge in the global orthobiologics market. For instance, in May 2015, Bone Biologics Corp. collaborated with the University of California for the development of Nell-1, a bone growth stimulator orthobiological product.
Major companies operating in the global orthobiologics market include Medtronic Plc, DePuy Synthes, Inc., Zimmer Biomet Holdings, Inc., Bone Biologics Corp, Harvest Technologies Corporation, Globus Medical, Inc., NuVasive Inc., Stryker Corporation, Genzyme, and Smith & Nephew plc.
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Orthobiologics Market - an Overview of What's New for 2019: Key Players Medtronic Plc, DePuy Synthes, Inc., Stryker Corporation, Smith & Nephew Plc