GLOBAL ORTHOBIOLOGICS MARKET SIZE (2024 - 2030)

A recent report by Intellect Market indicates that the Global Orthobiologics Market attained a valuation of USD 5.49 billion in 2023 and is anticipated to achieve USD 6.98 billion by the conclusion of 2030. Throughout the forecast period spanning 2024-2030, the market is poised to exhibit a Compound Annual Growth Rate (CAGR) of 3.5%.

MARKET OVERVIEW

Orthobiologics, also known as regenerative cellular therapies, encompass products containing or generating growth factors to facilitate tissue repair, alleviate pain, and aid in restoring normal function. Various types of orthobiologics exist, each with its own mechanism of action. Autologous stem cells, derived from the patient's body, proliferate under favorable conditions to produce progenitor cells. Orthobiologics find application in treating a range of conditions including fracture rehabilitation, spinal fusion, and more, with accessibility to areas such as the hip, knee, ankle, spine, and wrist. Their primary purpose lies in expediting injury recovery.

Numerous multinational corporations are actively engaged in the development of orthobiologics products, capitalizing on their diverse therapeutic properties. The global orthobiologics market is currently witnessing robust expansion attributed to increasing demand for efficient and time-saving solutions. Factors such as recent advancements in the field and expanding healthcare explorations are expected to propel market growth over the forecast period.

The burgeoning global elderly population, prone to conditions like osteoarthritis, among others, serves as a significant growth driver. Additionally, factors such as heightened awareness regarding orthobiologics and escalating demand for enhanced therapies contribute to market expansion. The rise in obesity rates, along with an increase in sports and road accidents, also augments market growth.

Impact of COVID-19 on the Orthobiologics Market

The ongoing global pandemic has presented unprecedented challenges to healthcare institutions and various corporate sectors. Several countries, including the United States, implemented temporary restrictions on elective surgeries from March to May 2020 to mitigate virus spread and preserve critical resources such as Personal Protective Equipment (PPE) and ventilators. Consequently, a growing number of orthopedic patients faced impediments to receiving timely medical care during the crisis, hindering the industry's steady growth.

A substantial backlog in surgeries is anticipated due to the significant treatment delays. Studies indicate that the post-pandemic backlog in orthopedic surgeries, particularly for joint replacements and spinal fusions, could exceed one million cases. This could potentially drive demand for orthobiologic devices in the post-COVID era as a viable non-surgical treatment option for individuals with orthopedic conditions.

MARKET DRIVERS

The orthobiologics market is primarily propelled by the expansion of the healthcare sector.

As awareness of effective healthcare treatments increases and disposable income levels rise, the global healthcare sector is experiencing significant growth. The orthobiologics market is expanding globally, fueled by the substantial growth of the healthcare industry in developing countries. Increased research expenditure on orthopedic biologic solutions suggests a promising trajectory for orthobiologics in the coming years. The combination of a growing elderly population and the adoption of sedentary lifestyles among the current populace is expected to substantially boost the orthobiologics market throughout the forecast period. Furthermore, the proliferation of collaborations between industry and academic institutions is expected to drive traction for a wide range of pipeline products in the orthobiologics market.

Lifestyle changes contribute to the rising incidence of disorders, driving market growth.

The projected period is expected to witness steady growth in the global orthobiologics market due to increasing urbanization and hectic lifestyles, necessitating quick and efficient orthopedic solutions for rapid recovery and reduced hospital visits. Rising occurrences of lifestyle-related diseases, trauma cases, and chronic conditions are anticipated to further fuel market growth. Additionally, the escalating number of sports injuries, accidents, and the prevalence of obesity and arthritis are projected to significantly augment the orthobiologics market throughout the forecast period, presenting promising prospects for expansion, according to industry analysts.

MARKET RESTRAINTS

Market expansion faces challenges due to stringent standards and complex procedures.

Stringent regulatory standards associated with novel research solutions, coupled with the complexities of paving the way for new orthobiologics solutions due to variable cost constraints, are anticipated to hinder the orthobiologics market in emerging nations throughout the forecast period. Moreover, the higher associated costs are also predicted to impede market growth.

High costs and inadequate reimbursements pose challenges to market expansion.

Despite favorable growth conditions, issues such as post-intradiscalorthobiologic injection complications among patients and high surgical costs among patients with comorbidities may limit the market share in the forthcoming years. High costs and insufficient reimbursements for orthobiologics products and procedures represent significant barriers to market growth, posing challenges to the expansion of the industry.

Orthobiologics Market Analysis:

Product Segmentation:

• Demineralized Bone Matrix
• Allograft
• Bone Morphogenetic Protein (BMP)
• Viscosupplementation Products
• Synthetic Bone Substitutes and Others

In 2021, the orthobiologics market was predominantly influenced by the Viscosupplementation Products category, primarily due to its robust reimbursement landscape sanctioned by the US FDA. The anticipated favorable payment environment is projected to further propel the adoption of Viscosupplementation Products. Additionally, the well-defined reimbursement policy for these products in France augments their market dominance.

Moreover, during the forecast period, Viscosupplementation Products are anticipated to exhibit the highest growth rate, with a projected CAGR of 4.8% from 2024 to 2030. This surge can be attributed to factors such as the expanding elderly population, increased incidence of osteoarthritis, and a rise in lifestyle-related ailments like obesity.

Application Segmentation:

• Osteoarthritis & Degenerative Arthritis
• Spinal Fusion
• Fracture Recovery
• Soft Tissue Injuries
• Maxillofacial & Dental Applications

Within the application segment, spinal fusion emerged as the leading contributor, capturing over half of the market share. This dominance is fueled by the widespread adoption of demineralized bone matrices, bone morphogenetic proteins, autografts, and allografts in spinal fusion surgeries.

The growing acceptance of orthobiologic products in spinal fusion procedures, attributed to their ability to swiftly stimulate cell activity for bone regeneration, reduce hospitalization durations, and minimize hospital visits, significantly bolsters the segment's market share. Furthermore, the availability of third-party insurances for fusion enhancement products further amplifies the market share of orthobiologics in this segment.

End-user Segmentation:

• Hospitals
• Ambulatory Centers
• Research & Academic Institutes
• Dental Clinics

Hospitals command a significant share in the end-user segment, primarily driven by the increasing utilization of orthobiologic products across a spectrum of spinal and reconstructive procedures conducted within hospital premises. This segment is anticipated to burgeon owing to specialized patient care offerings and the ready availability of a diverse range of orthobiologics within hospital settings.

The segment's growth is further propelled by factors such as high patient turnover rates, frequent readmissions, and substantial surgical volumes facilitated by supportive infrastructure, thereby fostering precise surgical interventions.

Regional Analysis:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

North America led the global orthobiologics market in 2021, followed by Europe and the Asia-Pacific region. The region's dominance is attributed to the presence of major industry players committed to advancing quality care and devising novel product development strategies. Additionally, reimbursement eligibility for soft tissue healing and fusion enhancement products significantly contributes to the regional market share.

The Asia-Pacific region, characterized by a burgeoning elderly population and escalating obesity rates, holds a substantial share of the orthobiologics market, with immense growth potential. Factors such as rising disposable incomes, increased investments in research, development, and innovation, alongside heightened awareness regarding orthobiologics usage, further fuel market growth. Moreover, the region's orthobiologics market is propelled by a surge in sports-related and road-related incidents, emphasizing the necessity for effective orthobiologic interventions.

Company Landscape:

Key players in the orthobiologics market include:

1. Medtronic
2. Smith & Nephew plc
3. Stryker Corporation
4. DePuySynthes, Inc.
5. Genzyme

These companies heavily engage in new product development endeavors, collaborations, distribution enhancement strategies, mergers, and acquisitions to fortify their market positions.

For instance, in May 2020, NuVasive Inc. launched AttraX Putty, a next-generation biologics technology, aimed at extending its synthetic bone graft product portfolio and gaining a competitive edge in the market.

Recent Developments:

• Product Launch: In March 2022, SeaSpine introduced the NorthStar cervical facet fusion and Flash Speed lumbar facet fusion, incorporating OsteoStrand DBM fibers to expedite procedural operations and optimize fusion outcomes.
• Joint Venture: In February 2022, Ortho Regenerative Technologies Inc. inked a Material Transfer Agreement with an undisclosed global medical company, securing exclusive rights to utilize their patented platelet-rich plasma system in Ortho's forthcoming ORTHO-R rotator cuff tear repair procedure.
• Collaborations: In June 2021, DePuySynthes forged a distribution partnership with Expanding Innovations Inc., introducing the X Pac Expandable Lumbar Cage System in the US market. This strategic move aims to provide comprehensive solutions for lumbar degenerative and minimally invasive spine segments.