Orthobiologics Market Is Expected To Reach US$ 7.7 Billion by 2028 | CAGR 5.1%

As per the latest report by IMARC Group, titled “Orthobiologics Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2023-2028”, The global orthobiologics market size reached US$ 5.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Industry Definition and Application:

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.

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Global Orthobiologics Market Trends and Drivers:

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.

Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Product:

• Demineralized Bone Matrix
• Allograft
• Bone Morphogenetic Protein
• Viscosupplementation Products
• Synthetic Bone Substitutes
• Others

Breakup by Type:

• Knee
• Ankle
• Hip
• Wrist and Shoulder
• Spine
• Others

Breakup by Application:

• Osteoarthritis and Degenerative Arthritis
• Spinal Fusion
• Fracture Recovery
• Soft Tissue Injuries
• Maxillofacial and Dental Applications

Breakup by End User:

• Hospitals and Ambulatory Centers
• Research and Academic Institutes
• Dental Clinics and Facilities
• Orthopedic Clinics

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape:

• 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.
• Zimmer Biomet

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