Orthobiological Product Market Research: Key Growth Drivers and Challenges and Forecast to 2032

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The 2022 global Orthobiological Product Market size reached USD 6.42 Billion and is anticipated to attain USD 11.8 Billion by 2032, with a projected revenue compound annual growth rate (CAGR) of 7% during the forecast period. The primary factors propelling this market's revenue expansion include the growing elderly population, increasing occurrences of orthopaedic ailments, and advancements in orthobiological product technology.

https://www.reportsanddata.com/report-detail/orthobiologics-market

Orthobiological products encompass biological components that facilitate the regeneration of ligaments, tendons, and bones. This category of products spans from demineralized bone matrix to growth hormones and stem cells. The rapid rise in demand for these products is attributable to their effectiveness in treating orthopaedic injuries and disorders.
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The expanding segment of the elderly population, who are more susceptible to orthopaedic conditions such as osteoarthritis and osteoporosis, is a key driving force behind the orthobiological product market. The World Health Organization (WHO) predicts that by 2050, the global elderly population will reach 2 billion, further bolstering the demand for orthobiological products.
Key players in the Orthobiological Product Market:
• DePuy Synthes (a Johnson & Johnson Company)
• Medtronic
• Stryker Corporation
• Zimmer Biomet Holdings, Inc.
• Smith & Nephew plc
• Baxter International Inc.
• Wright Medical Group N.V.
• Arthrex, Inc.
• Osiris Therapeutics, Inc.
• Biocomposites Ltd.
Some key highlights from the report:
• By product type, viscosupplementation products segment accounted for the largest revenue share in 2020. The significant market share is because of the acceptance of these products due to large availability and exceptional affirmation in disorders such as osteoarthritis, hip degenerative joint disorder. There are many benefits of viscosupplementation products such as better movement of knees, reduction of pain, and lesser side-effects.
• By end use, hospital segment accounted for the largest revenue share in 2020. Increase in the requirement of Orthobiologics products for different reconstructive and spinal surgery procedures in Hospitals is the major factor contributing to market growth. Easy availability of orthobiologics and highly specialized care of patients in the hospitals are driving the global orthobiologics market growth.
• Demand for orthobiologics is increasing because of advancements in technology and launch of new products in the market. Moreover, increasing number of spinal fusion surgeries is resulting in increasing use of orthobiologics, which further escalates market growth.
• Orthobiologics market in North America accounted for the largest revenue share in 2020, due to key drivers such as this region has the most beneficial reimbursement policies and increase in the number of people suffering from obesity. Increasing investments in development of advanced technologies and availability of well-developed healthcare infrastructure are factors driving revenue growth of the market in the region.
Orthobiological Product Market Report Scope
By Product Type Outlook
• Allografts
• Bone Morphogenetic Proteins (BMPs)
• Demineralized Bone Matrix (DBM)
• Synthetic Bone Substitutes
• Viscosupplementation
• Others
By Application Outlook
• Osteoarthritis and Degenerative Arthritis
• Spinal Fusion
• Trauma and Reconstructive Surgery
• Soft Tissue Injuries
• Maxillofacial and Dental Applications
• Others
By End-Use Outlook
 
• Hospitals and Clinics
• Ambulatory Surgical Centers (ASCs)
• Orthopedic Centers
• Others
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