According to a new market study released by Transparency Market Research (TMR), the global orthobiologics market will rise at a 5.90% CAGR from 2013 to 2019. Rising at this robust CAGR, the market’s valuation of US$3.7 bn in 2012 will increase to US$5.5 bn by 2019. The report is titled “Orthobiologics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” and is available for sale on the company website.
In the treatment of osteoarthritis and bone injuries, autografts and allografts have their own limitations, which is why the field of orthobiologics is expected to come to the fore in the coming years, says the report. Orthobiologics aid in expediting tissue and skeletal healing.
In recent years, the increasing number of procedures carried out for musculoskeletal problems is the major factor driving the global orthobiologics market. However, lack of transparent reimbursement policies and regulatory mandates for the treatment are detrimental to the market’s growth.
The report divides the global orthobiologics market on the basis of product, application, and geography. Bone morphogenetic proteins (BMPs), synthetic bone substitutes, allografts, machined bones, demineralized bone matrix (DBM), viscosupplementation, and stem-cell-based products are the product segments of this market. Amongst all, currently, the viscosupplementation product segment accounts for the largest share of the orthobiologics market due to the high demand for knee treatment surgeries. The higher efficacy of viscosupplementation products over NSAIDs (non-steroidal anti-inflammatory drugs) is the reason for this.
Other than this, in 2012, BMPs stood as the second largest product segment; plummeting sales of Medtronic’s INFUSE are the reason for this. Product-wise, the stem cell therapy segment stands as a strong contender in the orthobiologics market. This is mainly due to an inclination for stem-cell-based products among both patients and medical practitioners. Stem-cell-based products and synthetic bone substitutes will register significant growth during the forecast period, say analysts at TMR.
The report also analyzes the orthobiologics market from a geographical perspective. North America, Europe, Asia Pacific, and Rest of the Word are the regional segments into which the global orthobiologics market is divided in this report. Currently, North America and Europe are the largest markets for orthobiologics due to the high prevalence of arthritis and obesity. As a result, a massive demand for minimally invasive procedures has been observed, which include bone grafting and growth factor treatments.
Asia Pacific will emerge as a large market for orthobiologics during the remainder of the forecast period. In this region, the increasing geriatric population, rising number of sports injuries, and growing adoption of a sedentary lifestyle are the reasons for the rise of the orthobiologics market.
The report elaborates upon the competitive landscape of the market, wherein the top players operating in this market are mentioned and profiled for their key attributes. Bacterin International Inc., DePuy Synthes Inc., Globus Medical Inc., Medtronic Inc., Zimmer Holdings Inc., Alphatec Spine Inc., Biomet Inc., Exactech Inc., and Integra LifeSciences Corporation, among others, are top companies that have a significant presence in the global orthobiologics market.
Comments
Post a Comment