Over the projected period, prominent market players' adoption of inorganic development methods, such as product releases, is anticipated to fuel the expansion of the worldwide orthobiologics market. For instance, Ossifix Orthopedics, a division of Umbra Applied Technologies Group, Inc., reported in July 2022 that crunch, a demineralized bone matrix containing cancellous bone fragments, had been introduced. Crunch serves as the osteoconductive framework to encourage the formation of new bone. Its line of orthopaedic items will grow with the launch of this new device.
The market for Orthobiologics is anticipated to reach a value of US$ 6,515.2 million in 2022 and grow at a CAGR of 5.9% from 2022 to 2030.
Key Competitors in the Orthobiologics Industry:
1) Zimmer Biomet: Orthopaedic surgery tools and materials, as well as those for orthopaedic reconstructive implants, are all created, produced, and sold by Zimmer Biomet. The purchases of Centerpulse in 2003 and Biomet in 2015 have given Zimmer the majority of the reconstructive market in the US, Europe, and Japan at this time. In 1927, Warsaw, Indiana saw the construction of the American Headquarters. Embody Inc. will be acquired by Zimmer Biomet in 2023.
2) Bone Biologics Corp.: An American company called Bone Biologics Corp offers healthcare solutions. As a biotechnology company, it concentrates on creating therapeutics to promote bone regeneration. United States headquarters in Burlington, Massachusetts. Built in 1799. - The previously announced underwritten public offering of units of securities by Bone Biologics Corporation (NASDAQ: BBLG), a producer of orthobiologic products for the spine fusion market, has concluded. Gross proceeds, before underwriting discounts and commissions and other anticipated offering costs, totaled $5,100,000. The Company intends to use the net proceeds to pay for its anticipated clinical trials, maintain and grow its patent portfolio, keep contract research groups on board, as well as for working capital and other standard business needs.
3) Globus Medical, Smith: A manufacturer of medical devices, Globus Medical Inc. offers hospitals, doctors, and surgical centres a range of healthcare solutions and products. The company's products are divided into two groups: musculoskeletal solutions, which comprise surgical tools and equipment mostly used for spinal and orthopaedic surgeries, and enabling technologies, which include cutting-edge computer systems designed to improve surgical skills. The headquarters of Globus are in Audubon, Pennsylvania, in the US. Established in 2003.
4) Nephew Inc., Stryker: A variety of medical tools, devices, consumables, and implantables are created, produced, and sold by Stryker. The product line consists of spinal devices, knee replacements, gurneys, operating room equipment, hip and endoscopic systems, embolic coils, and hospital beds. Built in 1941. Located in the United States of America. First acquisitions of 2021 are sealed by Stryker, Smith & Nephew, according to 7 device companies.
5) XTANT MEDICAL: In order to facilitate spinal fusion in deformity, complex spine, and degenerative procedures, Xtant Medical Holdings Inc. is a medical technology company that focuses on the development, design, and commercialization of a broad portfolio of orthobiologics and spinal implant systems. Established in 2006. For $17 million, Xtant Medical buys the Coflex® Product Line from Surgalign.
6) Johnson & Johnson Services, Inc: The largest and most varied healthcare company in the world is Johnson & Johnson. The company is divided into three divisions: consumer, pharmaceutical, diagnostics, and medical devices. The US city of Brunswick, New Jersey, serves as the company's headquarters. September 1957 saw the founding. In 2022, Johnson & Johnson will complete the acquisition of Abiomed.
*Definition: The application of biological agents to hasten the recovery of musculoskeletal ailments.
