LONDON, July 26, 2017 /PRNewswire/ — KEY FINDINGS
The orthobiologics global market is anticipated to grow from $ 6596 million in 2016 to $ 12019 million by 2025. The market is expected to grow at a CACR of 6.97% between 2017-2027. The base year considered for the market study is 2016. The forecast period is 2017-2025. Evolvement in orthobiologics has led to the development of tissue regeneration products and bone grafts that minimize hospital visits, stays and bone healing process.
The global orthobiologics market is segmented on the basis of product type, application, end-user, and geography. The global orthobiologics market by product type is segmented into the demineralized bone matrix (DBM), allograft, bone morphogenetic protein, viscosupplementation, synthetic bone graft substitutes, stem cell therapy and others.
The application segment is further bifurcated into spinal fusion, trauma repair, and reconstructive surgery and others. The end-user is segmented into hospitals and clinics. The orthobiologics market by geography is classified into North America, Europe, Asia-Pacific and rest of the world. The rise in the demand for spinal fusion surgeries, development in Strategic Partnerships, and growth in Orthobiologics Material are the major drivers for the global Orthopedics market. Healthcare reforms (such as Stark self-referral law and fraud & abuse law) are estimated to have affected the Orthobiologics surgeons. Bone Regeneration Technology, Larger Spend on Healthcare is the major opportunities in the Orthobiologics Market.
The Orthobiologics market in North America is expected to hold the colossal share by 2024. The increase in research and a rising demand for the products, increasing research investments, aging population growth and an increased number of road accidents are major drivers of the region. Asia-Pacific is estimated with the highest CAGR of 7.09% due to the increased demand for biological implants over mechanical implants, coupled with the growing awareness levels about the benefits of Orthobiologics. Europe has generated revenue of $1705 million in 2016 and is expected to generate revenue of $3077 million by 2024. The rise in the aging population, increased incidences of osteoarthritis and osteoporosis, technological advancements in the European countries are driving the market to grow at a faster pace.
Major players for the Orthobiologics market are Bioventus, DePuy Inc. (Acquired by Johnson and Johnson), Exatech Inc., Globus Medical Inc., Integra Life sciences Holding Corporation, Johnson& Johnson, Medtronic Inc., Nuvasive Inc., RTI Surgical, Sanofi, Stryker Corporation, Zimmer Biomet Inc., and Mölnlycke Health Care AB. DePuy Inc.
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