Orthobiologics Market size is projected to grow exponentially over 2021-2027, driven by the rising prevalence and severity of maxillofacial fractures due to motor vehicle accidents, alongside the high consumption of orthobiologic products by sports medicine physicians worldwide. Orthobiologics have been gaining widespread adoption among sports physicians to promote the healing of shoulder, knee, and elbow-based injuries.
Orthobiologics refers to the use of natural or biological substances found in the body to treat musculoskeletal complications, including injuries to ligaments, tendons, and muscles, as well as chronic conditions like osteoarthritis. Treatment using orthobiologic substances may reduce the need for pain medication, improve recovery, and accelerate healing, thus emerging as an effective alternative to surgery.
Increasing number of elderly people and subsequent rise in the incidence of knee osteoarthritis are the major factors fostering the market penetration. According to the International Journal of Community Medicine & Public Health, 9.6% of men and 18% of women above 60 years of age have symptomatic osteoarthritis globally, thereby broadening the scope for orthobiologic material applicability.
Despite the favorable growth conditions, however, rising complications among patients following intradiscal orthobiologic injection and high surgical costs among patients with comorbidities may hamper the industry share in the coming years.
In terms of segmentation by product, the viscosupplementation segment is expected to register substantial revenue by 2027. This is a result of the growing geriatric population with high risks of osteoarthritis, along with the rapid product adoption as an ideal treatment option for these patients to ease the symptoms and postpone the need for surgeries. However, a significant delay in the R&D activities across the viscosupplementation sector may limit the segment growth to a certain extent.
Regionally, the Asia Pacific market is poised to exhibit a commendable growth rate through 2027, owing to the high healthcare spending, rising disposable personal income, and surge in road accidents across various countries. Public spending on health awareness and services is also increasing. In 2020, the healthcare expenditure of the Singapore government had reached approximately $13.2 billion. The region is home to a large geriatric population and teenagers witnessing injuries, driving the risk for orthopaedic problems.
The competitive landscape of the orthobiologics market comprises of companies such as Kuros Biosciences Ltd., K2M Group Holdings Inc. (Stryker Corporation), RTI Surgical, Medtronic plc, Globus Medical, Inc., and Arthrex, among others. Strategic product launches, M&A, and business expansions are the key efforts being employed by these market participants to accelerate their product portfolios and expand their stance across the global market.
For instance, in June 2021, SeaSpine Holdings announced the limited commercial introduction of its 3D-printed interbody system, WaveForm L (Lateral), designed to accommodate its allograft demineralized bone matrix products. It also has a large internal hollow core to enable surgeons to place orthobiologic materials. Also, Stryker acquired privately-held firm OrthoSensor and its Verasense intraoperative knee sensor tech in January 2021, with an objective to boost its Mako surgical robotic systems and enhance workflow.
The ongoing coronavirus pandemic has posed unprecedented challenges to the healthcare systems as well as other business sectors since its onset. In order to curb the spread of the virus and conserve critical resources like PPE and ventilators, several countries including the United States issued a temporary ban on elective surgery in 2020, over March-May. The escalating number of orthopedic patients failing to obtain medical attention during the crisis due to such measures, thus created roadblocks to the steady growth of the industry.
This significant delay in treatment is predicted to result in surgery backlog. Studies predict that the post-pandemic backlog for joint replacements and spinal fusions in the orthopedic surgery field will surpass 1 million. This could, in turn, surge the demand for orthobiologic devices in the post-COVID world, as a viable non-surgical treatment alternative for patients suffering from orthopedic issues.
Market, by product type, 2013-2024 (USD Million)
Market, by application, 2013-2024 (USD Million)
Market, by end-use, 2013-2024 (USD Million)
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