Industry Outlook

The global orthobiologics market to reach US$ 9.6 billion in 2029 and projected to exhibit a compound annual growth rate (CAGR) of 5.7% during the forecast period from 2021 to 2029. Orthobiologics are cellular therapy and biologics used to treat or manage certain orthopedic disorders. They include bone void fillers, recombinant growth factors, platelet rich plasma (PRP), autologus conditioned serum, stem cells and grafts. Orthopedic disorders are often treated or managed with medicines and physiotherapy, but may not be effective and surgeries may not be indicated. In such cases orthobiologics are recommended to the patients. Orthobiologics has witnessed increased innovation in the last twenty years.  They are administered through injections or surgery. Intensive research has proved the effectiveness of orthobiologics in healing musculoskeletal injuries, ligament repair, bone regeneration and other orthopedic ailments. PRP for instance has been effective in treating sports injuries and tendonopathies in adults. Over 2 million people in the U.S. alone suffer from cartilage issues. According to Centers for Disease Control and Prevention (CDC), more than 3.5 million children below age 14 receive medical treatment for sports injuries each year in the U.S. Similarly sports injuries are increasing and available targeted solutions are driving the demand for orthobiologics market. 

The onset of Covid-19 has impacted the healthcare market significantly. Most of the elective surgeries have taken a back seat due to prioritization of emergency surgeries. To the already burdened healthcare infra and resources, the pandemic has just added to it. Orthopedics surgery had the largest impact with postponement of the surgeries. Many hospitals turned down the ortho surgeries for more emergency surgeries. This reduced the surgeries conducted for both orthopedic surgery and the biologics. The report analyses the impact of covid 19 on the market revenues, micro and macro factor of the orthobiologics market. As orthobiologics is still emerging the price remains higher in comparison to conventional invasive therapies. Additionally, many countries do not cover or provide limited insurance for the same. This is hindering the market growth especially in developing economies. 

"Orthobiologics Addressing Key Issues in Orthopedics Management” 

The number of people aged 60 years and above has tripled since 1950. It is estimated that senior and geriatric population will reach 2.1 billion by 2050. These figures have raised the demand for orthopedics treatment in general and osteoarthritis and degenerative arthritis in specific. Patients suffering from severe pain and mobility issues are prescribed with drugs and steroids that have side effects in long term use. The patients are being more aware of these side effects. Osteoarthritis contributes to the highest demand for orthobiologics in 2019, due to increasing prevalence rate, increasing geriatric population and need for effective solution other than drugs. Highest potential is identified in spinal fusion segment that is exhibiting the fastest growth during the forecast period on 2021 to 2029. Minimally invasive surgeries have been very effective in case of spinal surgeries assuring successful outcomes and lesser recovery time. Similarly the demand for stem cells and bone grafts has also witnessed increased demand owing to increasing number of orthopedic procedures. All the above factors are expected to widen the scope of orthobiologics in the field of orthopedic care. 

"North America to Remain As the Global Revenue Leader” 

North America contributed to the largest share in global orthobiologics market in 2019. The largest share for NA is attributed to multiple factors such as well established healthcare infrastructure, accessibility to novel technologies, increase in R&D, increasing awareness among patients withrespect to biologics and demand for minimally invasive surgeries. NA is also witnessing high prevalence rates for obesity and orthopedic degenerative ailments which is further leading to the need of increased orthopedics care. Asia Pacific region is projected to have highest CAGR during the forecast period of 2021 to 2029. Asia pacific still is in emerging phase withrespect to healthcare infrastructure, regulatory framework and R&D. However, start up includes many biopharmaceutical and medical devices companies due to lesser entry barriers in comparison to NA or Europe. The biggest offering of Asia Pacific is the low cost of surgeries, due to which medical tourism has picked up significantly. Medical tourism is a biggest revenue contributor for India, Thailand and Indonesia. Japan and China have significant potential due to large pool of patients and increasing geriatric population. 

The report details the market estimates from 2019 to 2020 and CAGR for the forecast period 2021 to 2029. Te report also supports the estimates with intensive qualitative data and market dynamics that influence the market performace of product categories and geographic regions. The key players in market that are included in the report are DePuy Synthes, Stryker Corporation, Medtronic plc, NuVasive Inc., Zimmer Biomet, Globus Medical, Inc., Orthofix Internamtional NV, Harvest Technologies Corporation, Seaspine Holdings Corporation, RTI Surgicals among others. Their key activities such as mergers and acquisitions, strategic partnerships, new product launch, R&D etc are also included in the report.

Historical & Forecast Period

This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Orthobiologics market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Orthobiologics market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Orthobiologics market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2033.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Orthobiologics market?
• Which is the largest regional market for Orthobiologics market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Orthobiologics market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Orthobiologics market worldwide?