Orthobiologics Market, By Product Type (Bone Allograft, Machined Bones, Demineralized Bone Matrix, Synthetic Bone Substitutes, Bone Morphogenetic Protein (BMP), and Others), By Application (Spinal Fusion, Trauma Fixation, Reconstructive Joint Surgery, and Others), By End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024

Code : CMI1306

Pages :145

Formats :

Excel and PDF

Industry : Medical Devices

Orthobiologics Market Size and Trends

The global orthobiologics market is estimated to be valued at USD 7.21 Bn in 2024 and is expected to reach USD 10.96 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.

Orthobiologics Market Key Factors

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The orthobiologics market is expected to witness high growth over the forecast period. The market is driven by factors such as rising geriatric population, increasing incidence of chronic conditions, and sports injuries. Additionally, advantages of orthobiologics over traditional therapies such as lesser risk of disease transmission and reduced procedural invasiveness are boosting their demand. Furthermore, the ongoing development of advanced products with improved therapeutic efficacy is expected to provide opportunities for market growth. However, higher costs compared to alternative treatments and stringent regulatory frameworks are some challenges hampering the market growth.

Increasing prevalence of orthopedic diseases

The Increasing prevalence of diseases and conditions has been on the rise over the past few decades. As lifestyle patterns changed with increased sedentary jobs and less physical activity, obesity rates surged dramatically impacting musculoskeletal health. According to studies, obesity significantly increases the risk of developing osteoarthritis, one of the most common orthopedic ailments affecting mobility and quality of life especially in the geriatric population. Similarly, the risks of bone fractures, joint replacements, and spinal disorders are heightened due to excess weight. With overall improvement in life expectancy worldwide. Old age itself is a risk factor for osteoarthritis and osteoporosis as the regenerative abilities of the body slows down with time. Moreover, weight-bearing and repetitive physical activities performed throughout lifetime often manifest their effects on the bones and joints only later in life. Seniors are also prone to fall-related injuries like hip fractures.

/p>Increasing Product Launches by Key Market Players

The adoption of inorganic growth strategies such as product launches by key market players is expected to drive the global orthobiologics market growth over the forecast period. For instance, in July 2022, Ossifix Orthopedics, a subsidiary of Umbra Applied Technologies Group, Inc., a medical technology company, announced that it had launched crunch, a demineralized bone matrix that contains cancellous bone fragments to provide the osteoconductive scaffolding to promote new bone growth. This product launch will expand its suite of orthopedic products.