Stem cell therapy is fueling the growth of orthobiologics market

 

The global orthobiologics market is estimated to be valued at US$ 6,515.2 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Orthobiologics refer to biological substances used in orthopedic procedures to promote bone healing and repair musculoskeletal tissues. They are used in various applications such as spinal fusion, trauma, dental, and osteoarthritis. Growing geriatric population, rising number of orthopedic procedures, and increasing prevalence of orthopedic injuries and diseases are major factors driving growth of the orthobiologics market.

Market Overview:
Orthobiologics products include stem cell therapy, bone graft substitutes, viscosupplementation, and BMP (bone morphogenetic proteins). They offer advantages such as shorter recovery time, improved patient outcomes, and smaller surgical incisions compared to traditional reconstruction procedures. The increasing adoption of minimally invasive treatments is boosting demand for orthobiologics.

Market key trends:
One of the key trends in the orthobiologics market is the growing popularity of stem cell therapy. Stem cell therapy involves use of autologous or allogeneic stem cells derived from tissues such as bone marrow and adipose tissue to accelerate bone healing. It stimulates regeneration of bone and cartilage within the body and reduces inflammation and pain. Stem cell therapy is effective in treatment of a variety of orthopedic conditions including knee osteoarthritis, damaged intervertebral discs, rotator cuff tears, and non-union fractures. The adoption of stem cell therapy is increasing due to its ability to aid tissue regeneration and repair without causing harmful side effects. This is a major driver of growth in the orthobiologics market.
Segment Analysis
The global orthobiologics market is segmented based on type, application, end user and region. By type, the market is classified into bone graft substitutes, soft tissue supplements, bone graft substitutes occupied the largest market share in 2020. Bone graft substitutes are ideal substitutes for bone grafting procedures as they provide structural support, promote bone healing and bone formation. By application, the market is divided into spinal fusion, trauma/sports medicine, dental and others. Spinal fusion holds the largest share as orthobiologics products are commonly used for fusion procedures. By end user, the market is segmented into hospitals, ambulatory surgery centers and others. Hospitals dominate the market as most surgeries are performed in hospitals.

Key Takeaways
The global orthobiologics market is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period, due to increasing geriatric population suffering from osteoarthritis and other bone injuries which will boost the demand for orthobiologics.

Regional analysis
North America dominates the global orthobiologics market owing to advanced healthcare infrastructure, high awareness, and developed economy in the region. However, Asia Pacific is expected to exhibit the highest growth during the forecast period, with China and India being the major contributors to this growth. Factors such as growing geriatric population, increasing number of injuries and rising awareness regarding advanced bone repair treatments are propelling the market growth in Asia Pacific region.

Key players
Key players operating in the orthobiologics market are Zimmer Biomet, Bone Biologics Corp., Globus Medical, Smith & Nephew Inc., Stryker, ATEC Spine, Inc., XTANT MEDICAL, Johnson & Johnson Services, Inc., Exactech, Inc., Integra LifeSciences, Medtronic, NuVasive, Inc., Orthofix US LLC., SeaSpine, ChitogenX Inc., Spine Wave, Inc., Molecular Matrix, Inc., Isto Biologics, Baxter, Locate Bio Limited, Cerapedics, Ossifix Orthopedics, and Aziyo. Zimmer Biomet dominates the market owing to its robust product portfolio and widespread distribution network across geographies.

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