As per the latest report by IMARC Group, titled “Orthobiologics Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global orthobiologics market share. The global orthobiologics market price reached US$ 5.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 7.3 Billion by 2027, exhibiting a growth rate (CAGR) of 5.27% during 2022-2027.
Orthobiologics are prescription drugs made by living organisms to heal orthopedic tissues. Some of the common ortho-biologics include bone marrow concentrate, platelet-rich plasma (PRP), birth tissues and certain fat grafts. These are autologous or allogeneic substances that are injected or placed surgically to accelerate the healing of bones, joints, muscles, or tendons. Nowadays, platelet-rich plasma (PRP) is a rapidly gaining traction in the field of regenerative medicine, showing excellent potential in triggering or expediting the healing process in bones, muscles and ligaments.
Request a Free Sample Report: https://www.imarcgroup.com/orthobiologics-market/requestsample
Global Orthobiologics Market Trends:
The market is primarily driven by the increasing prevalence of osteoarthritis(OA), especially among the geriatric population. Older adults are also highly susceptible to spinal and other orthopedic disorders, resulting in the need for an increased number of orthopedic procedures. Besides this, the rising awareness among physicians and patients about the benefits of orthobiologic therapies and newly introduced treatment procedures and technologies have encouraged them to opt for orthobiologics. Moreover, extensive investments and collaborations by prominent medical device and biotechnology companies in the research and development (R&D) to produce advanced orthobiologics are providing a positive market outlook. Some of the other factors, including the growing preference for minimally invasive (MI) procedures, improving healthcare infrastructure and the advent of next-generation biologics technology, are also contributing to the market growth.
Market Summary:
Based on the product, the market has been categorized into the demineralized bone matrix, allograft, bone morphogenetic protein, viscosupplementation products, synthetic bone substitutes and others.
On the basis of the type, the market has been segregated into knee, ankle, hip, wrist and shoulder, spine and others.
The market has been segmented based on the application into of osteoarthritis and degenerative arthritis, spinal fusion, fracture recovery, soft tissue injuries, maxillofacial and dental applications.
Based on end user, the market has been classified into hospitals and ambulatory centers, research and academic institutes, dental clinics and facilities, and orthopedic clinics.
Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
The competitive landscape of the market has been examined, with some of the key players being Arthrex Inc, Globus Medical Inc., Integra LifeSciences, Johnson & Johnson, Medline Industries Inc., Medtronic plc, NuVasive Inc, Orthofix Medical Inc., Smith & Nephew plc, Stryker Corporation, Terumo Corporation, Wright Medical Group N.V. and Zimmer Biomet.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800