The global orthobiologics market is poised for significant growth, driven by an increasing demand for innovative treatments in orthopedic procedures. With a current market size of USD 6.4 billion in 2023, this segment is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2030.
Key Orthobiologics Companies:
The following are the leading companies in the orthobiologics market. These companies collectively hold the largest market share and dictate industry trends.
- Medtronic Plc
- DePuy Synthes
- Zimmer Biomet
- Stryker Corporation
- Bioventus LLC
- Anika Therapeutics, Inc.
- Orthofix, Inc.
- Globus Medical
- Arthrex, Inc.
- Bone Biologics Corp.
Market Concentration Characteristics
The field of orthobiologics has undergone a remarkable evolution, revolutionizing the treatment of orthopedic conditions and injuries. The integration of cutting-edge technologies such as bone graft substitutes, platelet-rich plasma (PRP) therapy, and stem cell treatments is transforming the way healthcare providers approach patient care. Advanced imaging techniques like MRI and CT scans enable precise diagnosis and personalized planning, while 3D printing allows for the creation of customized implants and scaffolds tailored to individual patients' needs.
Product Insights
The orthobiologics market was predominantly driven by the viscosupplementation segment in 2023, accounting for a significant revenue share of over 40%. The expanding patient base suffering from osteoarthritis, coupled with an increasing number of product launches, is expected to fuel market growth. A recent study on global, regional, and national burden of osteoarthritis from 1990 to 2020 and projections to 2050 reveals a substantial rise in diagnosed cases. Since 1990, the number of people affected by osteoarthritis has increased by 132.2%, with approximately 595 million globally diagnosed as of 2020. By 2050, the study predicts significant increases in cases of osteoarthritis for the knee, hand, hip, and other types, rising by 74.9%, 48.6%, 78.6%, and 95.1%, respectively. Viscosupplementation utilizing hyaluronic acid injections is a widely used treatment option due to its ease of administration and good tolerance, thereby contributing to market expansion.
Application Insights
The spinal fusion segment dominated the market, accounting for over half of total revenue share in 2023, driven by the rising incidence of spine disorders globally. According to recent data from ScienceDirect, more than 400,000 spinal fusion surgeries are performed annually in the US alone. The successful integration of bone morphogenetic proteins, demineralized bone matrices, autografts, and allografts has contributed significantly to this segment's growth, as these products offer superior bone stability and rapid healing capabilities. Furthermore, key market players are increasingly focusing on launching innovative bone healing solutions, fueling market expansion. Notably, OssDsign AB recently made a strategic shift towards concentrating on its US orthobiologics business, transforming the company into a pure-play orthobiologics firm. By leveraging its flagship product, OssDsign Catalyst - a nanosynthetic bone graft with high gross margins of 90% or more - the company aims to capitalize on the growing demand for spinal fusion surgeries.
End-use Insights
The healthcare sector remains a leading contributor to the orthobiologics market, accounting for over 60% of its revenue share in 2023. Hospitals have become pivotal in harnessing the potential of orthobiologics due to their advanced medical facilities and comprehensive care offerings. The surge in demand for minimally invasive procedures plays a significant role in driving the growth of orthobiologics within these settings.
Regional Insights
North America continues to lead the orthobiologics market, with a significant revenue share of 46.2%, as technological innovations and robust healthcare systems drive growth. The region's favorable reimbursement policies and supportive regulatory environments also contribute to the market's expansion. A growing population, particularly an aging demographic, is expected to further boost demand for orthobiologics. For example, recent data from the U.S. Census Bureau indicates that the nation's median age has increased by 0.2 years, with a shift towards older populations, and now stands at 42.3 years - a notable trend that will influence market trends in the coming years.
U.S. Orthobiologics Market Trends
The North American region dominated the global orthobiologics market in 2023, accounting for approximately 90% share. This success can be attributed to the region's forward-thinking approach towards technological innovation and research. As a result, there has been a steady stream of improved orthobiologic products being developed and introduced into the market. One notable example is Dr. Scott A. Rodeo from Hospital for Special Surgery, who in July 2021, received $50,000 funding from the Orthopaedic Research and Education Foundation to conduct research on an injectable biologic for knee applications.
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