ORTHOPEDIC REGENERATIVE MEDICINE MARKET ANALYSIS

The Global Orthopedic Regenerative Medicine Market is estimated to be valued at US$ 9.53 billion in 2023, and is expected to exhibit a CAGR of 10.7% during the forecast period (2023-2030).

Analysts’ Views on the Global Orthopedic Regenerative Medicine Market:

Increasing adoption of organic growth strategies such as product launches by the key players in the market is expected to drive growth of the global orthopedic regenerative medicine market over the forecast period. For instance, on September 5, 2023, Tissue Regenix Group plc, a regenerative medical devices manufacturing company, announced the launch of its new BioRinse product line for sports medicine allografts. The company's BioRinse sterilization technology platform uses proprietary processes to produce sterile bone and soft tissue products. The new process for sports medicine allografts causes less damage to the tissue in order to produce an enhanced, sterile soft tissue product.

Figure 1. Global Orthopedic Regenerative Medicine Market Share (%), By Application, 2023

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Global Orthopedic Regenerative Medicine Market - Drivers

• Increasing product launch: Increasing product launches by key players in the market is expected to drive the growth of the global orthopedic regenerative medicine market. For instance, in March 2022, Molecular Matrix, Inc., a company that focuses on regenerative medicine polymer technology, announced the launch of its Osteo-P Synthetic Bone Graft Substitute (BGS) for use in the musculoskeletal system.
• Increasing adoption of inorganic growth strategies such as partnership: Increasing adoption of inorganic growth strategies such as partnerships by the key players in the market is expected to drive the growth of the global orthopedic regenerative medicine market over the forecast period. For instance, in September 2020, DSM, a medical device company, announced a partnership with PBC Biomed, a medical device design and development company, to jointly design and develop novel materials for medical devices.

Figure 2. Global Orthopedic Regenerative Medicine Market Share (%), By Region, 2023

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Global Orthopedic Regenerative Medicine Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global orthopedic regenerative medicine market over the forecast period. The global orthopedic regenerative medicine market is expected to witness significant growth in the near future due to rising adoption of inorganic growth strategies such as acquisition by key players in the market. For instance, on June 27, 2023, Alpha Healthcare Acquisition Corp., a medical device company, announced the acquisition of Carmell Therapeutics Corporation, a phase 2 stage regenerative medicine platform company developing allogeneic plasma-based biomaterials for active soft tissue repair, aesthetics, and orthopedic indications.

Global Orthopedic Regenerative Medicine Market - Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced  problems regarding transportation of products from one place to another.
• The coronavirus (COVID-19) pandemic is the most recent outbreak, which was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 a pandemic on March 11, 2020.
• Moreover, the COVID-19 pandemic has impacted negatively  the clinical trials of various new drug molecules, treatments, and therapies, which is expected to affect the global orthopedic regenerative medicine market. According to the Indian Journal of Medical Sciences, on June 6, 2020, the COVID-19 pandemic  affected the commencement of clinical trials due to the unavailability of trial site staff, restrictions for travel, investigational product availability, and others.

Global Orthopedic Regenerative Medicine Market Segmentation:

The global orthopedic regenerative medicine market report is segmented into type, application, and region.

• By type, the market is segmented into stem cell, biomaterial, and tissue engineering. Out of which, the stem cell segment is expected to hold a dominant position in the global orthopedic regenerative medicine market during the forecast period due to increasing adoption of inorganic growth strategies such as joint ventures by the key players in the market. For instance, in October 2022, Sysmex Corporation, a company that offers diagnostic instruments, reagents, and laboratory information systems to clinical laboratories for testing, and JCR Pharmaceuticals Co., Ltd., a pharmaceutical company, announced that both companies had established a joint venture to carry out research and development, manufacture, and sales of cell-based regenerative medicine products including hematopoietic stem cells and other stem cells.
• By application, the market is segmented into osteoarticular diseases, rheumatoid arthritis, ligament injuries, burisitis, osteoporosis and others. Out of which, rheumatoid arthritis segment is expected to dominate the market over the forecast period due to increasing prevalence of rheumatoid arthritis. For instance, according to data published in July 2022 by Healthline Media UK Ltd., rheumatoid arthritis is the most common form of autoimmune arthritis. Around 1.3 billion  people in the U.S. have rheumatoid arthritis, representing 0.6 to 1% of the population in 2020.

Global Orthopedic Regenerative Medicine Market - Cross Sectional Analysis:

Among application segment, osteoporosis is dominant in Asia Pacific region due to increasing prevalence of osteoporosis. For instance, according to data published in July 2022 by Cureus, a web-based peer-reviewed open access general medical journal, approximately 50 billion  people in India have osteoporosis, with a greater prevalence among men and postmenopausal women in 2022.

Global Orthopedic Regenerative Medicine Market: Key Developments

• On April 3, 2023, Jaslok Hospital, a private hospital located in Mumbai, India, announced the launch of the first restorative and regenerative department in India for complex treatments. The department will offer non-invasive neuromodulation treatment for psychiatric disease and chronic pain in neurological conditions. It will also provide ortho biologics for various cell-based treatments for bone and joint disorders and platelet-rich plasma for orthopedic, vascular, and cosmetic therapies.
• On June 6, 2023, Biocomposites, a developer and distributor of calcium compound devices that regenerate and repair bone and soft tissue, announced the acquisition of Artoss, a company that provides a range of bone graft substitute products. This acquisition will expand Biocomposites’ product portfolio.
• In November 2020, OssDsign, an innovator, designer, and manufacturer of personalized bone replacement technology for cranial repair, announced the acquisition of Sirakoss, a medical device company. Sirakoss is developing nanosynthetic graft substitutes to facilitate complete bone repair and transform patient healing. The Sirakoss bone graft substitutes uses advanced technology to catalyze faster bone regeneration coupled with total graft resorption. This acquisition will expand OssDsign’s product portfolio.
• In October 2022, Orthofix, a global medical device company with focus on spine and orthopedics, and SeaSpine, a global medical technology company that focuses on surgical solutions for the treatment of spinal disorders, announced they both had entered into a definitive agreement to combine in an all-stock merger of equals. The combined company, to be named prior to the transaction’s closing, will be a leading global spine and orthopedics company with highly complementary portfolios of biologics, innovative spinal hardware, bone growth therapies, specialized orthopedic solutions, and a leading surgical navigation system.

Global Orthopedic Regenerative Medicine Market: Key Trends

• Increasing launch of regenerative medicine center: Increasing adoption of organic growth strategies such as launch of regenerative medicine center is expected to drive the growth of the global orthopedic regenerative medicine market over the forecast period. For instance, on April 7, 2023, the University of Colorado Medicine, a medical school based in the U.S., announced the launch of the CU Medicine Regenerative Medicine, Hand, and Spine Center. The clinic utilizes a minimally invasive and multidisciplinary approach to joint and nerve pain.

Global Orthopedic Regenerative Medicine Market: Restraint

• Stringent government regulatory scenario in research and development of orthopedic regenerative medicine: Stringent government regulatory scenario in research and development of orthopedic regenerative medicine is expected to hamper the growth of the global orthopedic regenerative medicine market over the forecast period. Standards are rules, conditions, guidelines, or agreed-upon practices that are adopted within an industry to provide developers with a common framework and promote consistency. Developing regenerative medicine standards is challenging because these technologies and therapies are complex and rapidly evolving. Standards require consensus from stakeholders, which may be difficult to obtain. The U.S. Food and Drug Administration (FDA) ensures the safety, efficacy, and security of human medical products in the U.S. through regulation.

Global Orthopedic Regenerative Medicine Market - Key Players

The major players operating in the global orthopedic regenerative medicine market include Anika Therapeutics, Inc, Arthrex, Inc., Baxter International, Inc., CONMED Corporation, Johnson & Johnson, Medtronic, Plc, Smith & Nephew plc, Orthofix, Stryker Corporation, Zimmer Holdings, Inc., Aziyo Biologics, and Ortho Regenerative Technologies Inc., and OssDsign.

Definition: Orthopedic regenerative medicine are therapies developed from biologic (natural) substances that can be used by orthopaedic specialists to:

• Help relieve pain and other symptoms of certain orthopaedic conditions such as early osteoarthritis that may help to delay the need for surgery
• Enhance the body's ability to heal from a repetitive use injury such as a ligament or tendon strain, cartilage injuries, or broken bone (fracture)
• In some cases, improve healing after orthopedic surgery