The global orthobiologics market is driven by increasing sports injuries and road accidents, increased obesity rate, growing awareness among people, and surging aging population.
Moreover, the opportunities witnessed in the global market include development in implant technologies and shifting demand from mechanical to biological solutions. The global market has been classified in terms of product, application, end-user and geography.
Based on product, the global market is segmented into bone morphogenetic proteins, demineralized bone matrix, synthetic bone substitute, allograft, viscosupplementation, machined bones, and stem cell therapy. Based on end user, the global market is segmented into orthopedic clinics, hospitals, and others.
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The viscosupplementation segment accounted for the highest market share among the various products in the global orthobiologics market. However, the patients and medical practitioners are also developing an interest for the stem-cell-based products and synthetic bone substitutes, thus leading to their increased popularity.
Both the stem cell therapy and synthetic bone substitute segments would witness significant growth during the forecast period. Based on application, the global market has been segmented into reconstructive surgery, spinal fusion, and trauma.
The reconstructive surgery segment would account for the highest growth during the forecast period, due to increasing number of hip and knee replacement surgeries.
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The global orthobiologics market is witnessing surge, due to demand for novel products, increasing burden of chronic arthritis. Also, the growing requirement of minimally invasive procedures has led to increased demand for orthobiologic products.
However, the strict regulatory approval procedure for orthobiologic products, high cost of procedures, and scarcity of reliable clinical trial data is expected to restrain the growth of the global market during the forecast period.
The geographical segmentation of the global orthobiologics market includes North America, Europe, Asia-Pacific and Rest of the World (RoW). North America and Europe accounted for major share in the global market, since the regions have the highest aging population, due to increase in life expectancy and prevalence of geriatric-based diseases, such as diabetes, arthritis, and obesity.
The Asia-Pacific market is expected to witness surge, due to the enormous untapped patient population, increasing medical tourism, and economical treatment cost. The developing nations, such as India and China, in the Asia-Pacific market are expected to witness significant growth.
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