Orthobiologics Market Size, Share, Growth, Trends and Industry Competition
by Susan Hill Business ConsultantThe global orthobiologics market size is expected
to reach USD 10.2 billion by 2025, according to a new study by Grand View
Research, Inc. The orthobiologics industry trends is predominantly driven
by the increasing orthopedic disease and musculoskeletal disease burden
globally. Moreover, emerging technological innovations in biomaterials, used in
the production of orthobiologics are presumed to accelerate the market demand
over the forecast period and will help grow the competition among the key
players, particularly in U.S. These predominantly include modifications in
graft designs, advent of recombinant biologic agents, stem cell therapy and
cultured tissue scaffolds.
These advancements are accompanied with the benefits
such as enhanced biocompatibility, reduced surgical time and smaller incisions.
Furthermore, these novel solutions are presumed to efficiently reduce the
recurrence of post-operative complications, which in turn is expected to boost
the orthobiologics device market during the forecast period.
Further
Key Findings from the Study Suggest:
- In 2015, viscosupplementation accounted for
the largest share in the product segment owing to being a cost efficient
therapeutic alternative for symptomatic management of osteoarthritis
- Spinal fusion held the largest share in the application segment in
2015, owing to presence of third party insurers and reimbursement
structure for fusion enhancement products thus triggering growth
- In 2015, North America accounted for the dominant share owing to
consistent efforts of industry players in promoting awareness pertinent to
the orthobiological products resulting in significant rise in adoption
rate
- Asia Pacific is anticipated to exhibit an exponential CAGR as a
consequence of significant surge in healthcare spending and awareness
levels with respect to the availability of orthobiologics
- The prominent players are consistently indulging into extensive
strategies to gain competitive position including regional expansion and
mergers & acquisitions to capture a greater share of
the orthobiologics market
- For instance, in November 2015, Bioventus acquired BioStructures, a
bioabsorbable bone graft developer. This acquisition was carried out to
expand orthobiologics product portfolio and grafting solutions in order to
expand their market share
Access
full research report on global orthobiologics
market:
www.grandviewresearch.com/industry-analysis/orthobiological-products-market
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Created on Sep 3rd 2019 06:38. Viewed 214 times.