Growing Adoption Driving Orthobiologics Market Growth
Orthobiologics products are widely used in various orthopedic surgeries such as spinal fusion, trauma fixation, soft tissue repair, and dental allograft. These products facilitates bone healing and reduces the dependency on autograft. Some key products include demineralized bone matrix, bone morphogenetic proteins, viscosupplementation agents, synthetic bone grafts, and bone graft substitutes. Increasing incidence of musculoskeletal disorders and rising geriatric population that are more prone to orthopedic issues are some of the major factors fueling the demand for orthobiologics.
The global Orthobiologics Market is estimated to be valued at US$ 6,515.02 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.
Market key trends:
The increasing adoption of orthobiologics products can be attributed to the key
trend of growing preference for minimally invasive surgery. Orthobiologics
allow for less invasive surgical procedures and enable faster recovery time as
compared to traditional procedures. The rising volume of spinal fusion
surgeries globally has propelled the demand for orthobiologics as they help in
new bone formation and integration at the fusion site. Manufacturers are focusing
on developing advanced orthobiologics products made from tissue-engineered bone
grafts to further augment bone healing. Ongoing research in the field of stem
cell therapy and gene therapy also holds potential to enhance the effectiveness
of orthobiologics over the forecast period.
Segment Analysis:
The global orthobiologics
market is segmented based on product type, application, and end use. Based
on product type, the viscosupplementation products segment currently dominates
the market. These products provide lubrication and cushioning within the joint
helping reduce pain and inflammation. Viscosupplementation products have high
demand due to the rising prevalence of osteoarthritis causing joint pain. The
demineralized bone matrix segment is expected to witness lucrative growth
during the forecast period owing to its increasing use in bone void fillers and
spinal procedures.
Key Takeaways:
Regional analysis: North America is currently the largest and fastest growing regional market for orthobiologics. This is attributed to the growing geriatric population afflicted by orthopedic disorders, developed healthcare infrastructure, and availability of advanced treatment options. Asia Pacific is expected to emerge as a highly lucrative market during the forecast period supported by improving healthcare infrastructure, rising medical tourism, and increasing incidences of trauma and sports injuries in the region.
Key players: Key players operating in the orthobiologics market are Zimmer Biomet, Bone Biologics Corp., Globus Medical, Smith & Nephew Inc., and Stryker. These leading players are focusing on new product launches, partnerships, and acquisitions to strengthen their market position and expand their portfolio of orthobiologics products. For instance, in 2022, XTANT MEDICAL launched new interbody fusion devices and ChitogenX Inc. received FDA approval for its Chitosan-Collagen Scaffold for spinal fusion procedures

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