Industry Outlook
The global orthobiologics market to reach US$ 9.6 billion in 2029 and projected to exhibit a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2021 to 2029. Orthobiologics are cellular therapy and biologics used to treat or manage certain orthopedic disorders. They include bone void fillers, recombinant growth factors, platelet rich plasma (PRP), autologus conditioned serum, stem cells and grafts. Orthopedic disorders are often treated or managed with medicines and physiotherapy, but may not be effective and surgeries may not be indicated. In such cases orthobiologics are recommended to the patients. Orthobiologics has witnessed increased innovation in the last twenty years. They are administered through injections or surgery. Intensive research has proved the effectiveness of orthobiologics in healing musculoskeletal injuries, ligament repair, bone regeneration and other orthopedic ailments. PRP for instance has been effective in treating sports injuries and tendonopathies in adults. Over 2 million people in the U.S. alone suffer from cartilage issues. According to Centers for Disease Control and Prevention (CDC), more than 3.5 million children below age 14 receive medical treatment for sports injuries each year in the U.S. Similarly sports injuries are increasing and available targeted solutions are driving the demand for orthobiologics market.
The onset of Covid-19 has impacted the healthcare market significantly. Most of the elective surgeries have taken a back seat due to prioritization of emergency surgeries. To the already burdened healthcare infra and resources, the pandemic has just added to it. Orthopedics surgery had the largest impact with postponement of the surgeries. Many hospitals turned down the ortho surgeries for more emergency surgeries. This reduced the surgeries conducted for both orthopedic surgery and the biologics. The report analyses the impact of covid 19 on the market revenues, micro and macro factor of the orthobiologics market. As orthobiologics is still emerging the price remains higher in comparison to conventional invasive therapies. Additionally, many countries do not cover or provide limited insurance for the same. This is hindering the market growth especially in developing economies.
Orthobiologics Addressing Key Issues in Orthopedics Management
The number of people aged 60 years and above has tripled since 1950. It is estimated that senior and geriatric population will reach 2.1 billion by 2050. These figures have raised the demand for orthopedics treatment in general and osteoarthritis and degenerative arthritis in specific. Patients suffering from severe pain and mobility issues are prescribed with drugs and steroids that have side effects in long term use. The patients are being more aware of these side effects. Osteoarthritis contributes to the highest demand for orthobiologics in 2019, due to increasing prevalence rate, increasing geriatric population and need for effective solution other than drugs. Highest potential is identified in spinal fusion segment that is exhibiting the fastest growth during the forecast period on 2021 to 2029. Minimally invasive surgeries have been very effective in case of spinal surgeries assuring successful outcomes and lesser recovery time. Similarly the demand for stem cells and bone grafts has also witnessed increased demand owing to increasing number of orthopedic procedures. All the above factors are expected to widen the scope of orthobiologics in the field of orthopedic care.
North America to Remain As the Global Revenue Leader
North America contributed to the largest share in global orthobiologics market in 2019. The largest share for NA is attributed to multiple factors such as well established healthcare infrastructure, accessibility to novel technologies, increase in R&D, increasing awareness among patients withrespect to biologics and demand for minimally invasive surgeries. NA is also witnessing high prevalence rates for obesity and orthopedic degenerative ailments which is further leading to the need of increased orthopedics care. Asia Pacific region is projected to have highest CAGR during the forecast period of 2021 to 2029. Asia pacific still is in emerging phase withrespect to healthcare infrastructure, regulatory framework and R&D. However, start up includes many biopharmaceutical and medical devices companies due to lesser entry barriers in comparison to NA or Europe. The biggest offering of Asia Pacific is the low cost of surgeries, due to which medical tourism has picked up significantly. Medical tourism is a biggest revenue contributor for India, Thailand and Indonesia. Japan and China have significant potential due to large pool of patients and increasing geriatric population.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2021-2029.
The report details the market estimates from 2019 to 2020 and CAGR for the forecast period 2021 to 2029. Te report also supports the estimates with intensive qualitative data and market dynamics that influence the market performace of product categories and geographic regions. The key players in market that are included in the report are DePuy Synthes, Stryker Corporation, Medtronic plc, NuVasive Inc., Zimmer Biomet, Globus Medical, Inc., Orthofix Internamtional NV, Harvest Technologies Corporation, Seaspine Holdings Corporation, RTI Surgicals among others. Their key activities such as mergers and acquisitions, strategic partnerships, new product launch, R&D etc are also included in the report.
Key questions answered in this report
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The global orthobiologics market to reach US$ 9.6 billion in 2029 and projected to exhibit a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2021 to 2029. Orthobiologics are cellular therapy and biologics used to treat or manage certain orthopedic disorders. They include bone void fillers, recombinant growth factors, platelet rich plasma (PRP), autologus conditioned serum, stem cells and grafts. Orthopedic disorders are often treated or managed with medicines and physiotherapy, but may not be effective and surgeries may not be indicated. In such cases orthobiologics are recommended to the patients. Orthobiologics has witnessed increased innovation in the last twenty years. They are administered through injections or surgery. Intensive research has proved the effectiveness of orthobiologics in healing musculoskeletal injuries, ligament repair, bone regeneration and other orthopedic ailments. PRP for instance has been effective in treating sports injuries and tendonopathies in adults. Over 2 million people in the U.S. alone suffer from cartilage issues. According to Centers for Disease Control and Prevention (CDC), more than 3.5 million children below age 14 receive medical treatment for sports injuries each year in the U.S. Similarly sports injuries are increasing and available targeted solutions are driving the demand for orthobiologics market.
The onset of Covid-19 has impacted the healthcare market significantly. Most of the elective surgeries have taken a back seat due to prioritization of emergency surgeries. To the already burdened healthcare infra and resources, the pandemic has just added to it. Orthopedics surgery had the largest impact with postponement of the surgeries. Many hospitals turned down the ortho surgeries for more emergency surgeries. This reduced the surgeries conducted for both orthopedic surgery and the biologics. The report analyses the impact of covid 19 on the market revenues, micro and macro factor of the orthobiologics market. As orthobiologics is still emerging the price remains higher in comparison to conventional invasive therapies. Additionally, many countries do not cover or provide limited insurance for the same. This is hindering the market growth especially in developing economies.
Orthobiologics Addressing Key Issues in Orthopedics Management
The number of people aged 60 years and above has tripled since 1950. It is estimated that senior and geriatric population will reach 2.1 billion by 2050. These figures have raised the demand for orthopedics treatment in general and osteoarthritis and degenerative arthritis in specific. Patients suffering from severe pain and mobility issues are prescribed with drugs and steroids that have side effects in long term use. The patients are being more aware of these side effects. Osteoarthritis contributes to the highest demand for orthobiologics in 2019, due to increasing prevalence rate, increasing geriatric population and need for effective solution other than drugs. Highest potential is identified in spinal fusion segment that is exhibiting the fastest growth during the forecast period on 2021 to 2029. Minimally invasive surgeries have been very effective in case of spinal surgeries assuring successful outcomes and lesser recovery time. Similarly the demand for stem cells and bone grafts has also witnessed increased demand owing to increasing number of orthopedic procedures. All the above factors are expected to widen the scope of orthobiologics in the field of orthopedic care.
North America to Remain As the Global Revenue Leader
North America contributed to the largest share in global orthobiologics market in 2019. The largest share for NA is attributed to multiple factors such as well established healthcare infrastructure, accessibility to novel technologies, increase in R&D, increasing awareness among patients withrespect to biologics and demand for minimally invasive surgeries. NA is also witnessing high prevalence rates for obesity and orthopedic degenerative ailments which is further leading to the need of increased orthopedics care. Asia Pacific region is projected to have highest CAGR during the forecast period of 2021 to 2029. Asia pacific still is in emerging phase withrespect to healthcare infrastructure, regulatory framework and R&D. However, start up includes many biopharmaceutical and medical devices companies due to lesser entry barriers in comparison to NA or Europe. The biggest offering of Asia Pacific is the low cost of surgeries, due to which medical tourism has picked up significantly. Medical tourism is a biggest revenue contributor for India, Thailand and Indonesia. Japan and China have significant potential due to large pool of patients and increasing geriatric population.
Historical & Forecast Period
This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2021-2029.
The report details the market estimates from 2019 to 2020 and CAGR for the forecast period 2021 to 2029. Te report also supports the estimates with intensive qualitative data and market dynamics that influence the market performace of product categories and geographic regions. The key players in market that are included in the report are DePuy Synthes, Stryker Corporation, Medtronic plc, NuVasive Inc., Zimmer Biomet, Globus Medical, Inc., Orthofix Internamtional NV, Harvest Technologies Corporation, Seaspine Holdings Corporation, RTI Surgicals among others. Their key activities such as mergers and acquisitions, strategic partnerships, new product launch, R&D etc are also included in the report.
Key questions answered in this report
- What are the key market segments in current scenario and in the future by product categories
- What are the key market segments in current scenario and in the future by regions
- What is the key impact of Covid 19 over market revenues and market determinants in the medical aesthetics market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segment?
- Who are the key players in the medical aesthetics market and what are their key product categories and strategies?
- What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
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Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Orthobiologics: Market Dynamics and Outlook
Chapter 4. Global Orthobiologics Market, by Product Type, 2019-2029 (US$ Mn)
Chapter 5. Global Orthobiologics Market, by Application, 2019-2029 (US$ Mn)
Chapter 6. Global Orthobiologics Market, by Geography, 2019-2029 (US$ Mn)
Chapter 7. Company Profiles
List of Figures
List of Tables
Companies Mentioned
- DePuy Synthes
- Stryker Corporation
- Medtronic plc
- NuVasive Inc.
- Zimmer Biomet
- Globus Medical Inc.
- Orthofix Internamtional NV
- Harvest Technologies Corporation
- Seaspine Holdings Corporation
- RTI Surgicals
