Orthobiologics Market is Anticipated to Expand its Boundaries USD 8.1 Billion by 2033 at a CAGR of 3.0%

Posted on 2024-11-14 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Orthobiologics Market

Over the course of the forecast period, the orthobiologics market is expected to grow at a compound annual growth rate (CAGR) of 3.0%. In 2023, the market’s share was worth USD 6.0 billion, but by 2033, it is predicted to have grown to USD 8.1 billion.

According to the market prognosis for orthobiologics, rising healthcare spending is encouraging the use of cutting-edge medical technology and equipment. Additionally, the market for orthobiologics is expanding due to bone-related illnesses and injuries. The market is probably going to benefit from the rise in the total number of patients. Additionally, the growing use of viscosupplements to postpone knee replacement and surgery is encouraging medical facilities to use orthobiologics products. Additionally, end users are being pushed to adopt technology that prevent and postpone difficult surgeries due to the prolonged physical suffering. Orthobiologics product sales are probably going to be impacted by the increasing number of new product debuts. Orthobiologics are being used in healthcare because of the rise in bone abnormalities and fractures caused by more accidents in metropolitan areas.

Biological compounds that are rapidly repairing musculoskeletal injuries are opening up new future potential thanks to sophisticated integration systems with research and development extensions. Bone allograftchevron, soft tissue allograftchevron, and cartilage allograftchevron are among the goods. However, the best course of action for knee and shoulder problems is to use orthopaedic biologic products.

Competition Scenario

The market players are focusing on creating advanced products that provide ease to patients. The research and development programs that deliver products to support the patient in their overall recovery process are another factor competitors focus on. This involves the integration of regenerative medicine, alternative therapies, and bone support products.

Latest Developments:

Medtronic extends the product list with balloon kyphoplasty, tumor management, vertebroplasty, sports surgery, nucleus removal tools, and SpineLine reimbursement. These extensions are helping the hospital facilities along with the introduction of electrosurgical products.
In 2023, Zimmer Biomet acquired embody, an orthobiologics company for US$ 155 million. The company focuses on soft tissue healing and enhanced pipeline area. The acquisition will enhance the supply chain and distribution channel.

Key Contributors of the Orthobiologics Market are

Medtronic (Ireland)
Zimmer Biomet
DePuy Synthes (Johnson & Johnson Services, Inc.)
Stryker
Anika Therapeutics, Inc.
SeaSpine
Bioventus
RTI Surgical
MTF Biologics
Arthrex, Inc.
Smith & Nephew

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Key Companies Profiled

Medtronic (Ireland); Zimmer Biomet; DePuy Synthes (Johnson & Johnson Services, Inc.); Stryker; Anika Therapeutics, Inc.; SeaSpine; Bioventus; RTI Surgical; MTF Biologics; Arthrex, Inc.; Smith & Nephew

Key Segments

By Product Type:

Bone Growth Stimulators (BGS)
- Non-invasive Electrical BGS
- Invasive Electrical BGS
- Ultrasound BGS
Viscosupplements
- Single Injection Viscosupplements
- Three Injection Viscosupplements
- Five Injection Viscosupplements
Bone Graft Substitute
- Allografts
- Synthetics
- Xenografts
- Bone Morphogenetic Protein

By End User:

Hospitals
Ambulatory Surgical Centres
Orthopaedics Clinics

By Region:

North America
Latin America
Europe
Asia Pacific (APAC)
Middle East & Africa (MEA)

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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