Orthobiologics Market

Increasing orthopedic procedures and surgeries is a major factor driving orthobiologics market revenue growth

VANCOUVER, BRITISH COLUMBIA, CANADA, August 5, 2024 /EINPresswire.com/ -- The global orthobiologics market size was USD 6.07 Billion in 2022 and is expected to register a revenue CAGR of 4.3% during the forecast period, according to latest analysis by Emergen ResearchOrthobiologics, a burgeoning sector within the field of orthopedic medicine, is revolutionizing the way we approach musculoskeletal injuries and disorders. This innovative branch encompasses a diverse range of biological materials and therapies that harness the body's natural healing abilities to facilitate tissue repair and regeneration. The global orthobiologics market has experienced remarkable growth in recent years, driven by several key factors.

Rising orthopedic and spinal diseases are the major factors driving revenue growth of the market. According to World Health Organization (WHO), musculoskeletal diseases affect around 1.71 billion people globally. Low back pain is a single largest cause of disability in 160 countries, making musculoskeletal diseases leading driver of disability across the globe. Musculoskeletal disorders severely impair movement and dexterity, resulting in early retirement from work, decreased levels of well-being, and a reduced ability to engage in society. The number of people living with musculoskeletal diseases and accompanying functional restrictions is quickly increasing as a result of population expansion and aging. The World Health Organization (WHO) is addressing the burden of musculoskeletal diseases through a variety of programmatic initiatives.

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Drivers Of Orthobiologics Market:

 One of the primary drivers of the orthobiologics market is the growing aging population. As individuals age, they become more susceptible to musculoskeletal disorders and degenerative diseases, such as osteoarthritis. Orthobiologics offer a less invasive and more effective treatment option for these patients, enhancing their quality of life. Additionally, the rise in sports-related injuries has also contributed to the demand for orthobiologics, as athletes and active individuals seek quicker and more efficient recovery methods.

Restraints Of Orthobiologics Market :

Despite its promising prospects, the orthobiologics market faces certain challenges. One significant constraint is the high cost associated with these treatments. While they offer long-term benefits and reduced recovery times, the initial expense can be prohibitive for many patients and healthcare systems. Insurance coverage for orthobiologic therapies also remains inconsistent, limiting access to these innovative treatments for some individuals.Regulatory hurdles can pose challenges as well. The approval process for new orthobiologic products can be time-consuming and rigorous, slowing down market growth. Moreover, the need for specialized training in orthobiologic procedures can limit their adoption among healthcare professionals.

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Growth Factors Of Orthobiologics Market:

Several factors are fueling the growth of the orthobiologics market. Firstly, the increasing awareness of the benefits of orthobiologic treatments is driving patient demand. Patients are actively seeking alternatives to traditional surgeries and medications, which has led to greater acceptance of these therapies within the medical community.Collaborations and partnerships between research institutions, pharmaceutical companies, and healthcare providers are also propelling the market forward. These partnerships facilitate research and development efforts, enabling the creation of more effective orthobiologic products and therapies.

Some major companies in the global market report include:
Bone Biologics Corp.
Medtronic
Arthrex, Inc
Orthofix US LLC.
NuVasive, Inc.
Zimmer Biomet.
Wright Medical Group N.V.
Smith+Nephew.
Stryker
Sano orthopedics

Some Key Highlights From the Report

The viscosupplementation segment accounted for a significantly large revenue share during the forecast period. The demand for this treatment is rising as it can reduce joint pain and stiffness in individuals, improve quality of life, and delay the need for total knee replacement surgery. Viscosupplements also can relieve osteoarthritis pain using injections that restore synovial fluid in the joint.

The orthopedic clinics segment registered for a significantly fast revenue growth rate in 2022. Individuals can return home the same day after outpatient orthopedic surgery in orthopedic clinics. With its multiple benefits, this form of orthopedic surgery is increasingly popular among patients. The use of cutting-edge surgical technologies allows patients to recover from minor orthopedic disorders more quickly. They simply need to stay at a medical clinic for a few hours before returning home with all their orthopedic surgeons drugs and instructions.

The orthobiologics market in North America accounted for largest revenue share in 2022 owing to rising prevalence of different orthopedic diseases and muscular diseases in this region. According to the Osteoarthritis Action Alliance, osteoarthritis is the most prevalent type of arthritis in the U.S., affecting 32.5 billion individuals and 43% of those are 65 and older in 2020. As a result, prevalence of orthopedic conditions such as joint replacement, osteoarthritis, joint pain, and osteoporosis has increased. According to Disease Prevention and Health Promotion, Osteoporosis affects 10 million individuals who are 50 years of age or older.

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Emergen Research has segmented the global orthobiologics market on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2019-2032)
Viscosupplementation
Synthetic Bone grafts
Bioactive glass
BiPhasic
Hydroxyapatite
Others
Bone Morphogenetic Protein (BMP)
Allograft
Xenografts
Demineralized Bone Matrix (DBM)
Application Outlook (Revenue, USD Billion; 2019-2032)
Spinal Fusion
Fracture recovery
Reconstructive Surgery
Osteoarthritis and degenerative arthritis
Others
End-Use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals and clinics
Orthopedic clinics
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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