Orthobiologics Market to Reach $8.7 Billion By 2027

The global orthobiologics market was estimated to reach $5.51 billion last year and is forecast to reach a value of $8.7 billion by 2027 at a compound annual growth rate (CAGR) of 5.9 percent, according to Coherent Market Insights data.
 
The increasing prevalence of chronic arthritis is expected to drive the market during the forecast period, as will the approval and launch of new products. For instance, in July 2020, Kuros Biosciences BV, the Netherland-based subsidiary of Kuros Biosciences, was granted the European patent, EP 3268058, entitled ‘Osteoinductive composites’, which covers certain combinations of polymers and granular materials and further expands Kuros’s patent portfolio relating to its MagnetOs product line. However, the high cost associated with orthobiologics is expected to hinder growth of the global orthobiologics market.
 
Emerging economies in Asia Pacific and Latin America hold immense potential for the orthobiologics market owing to their increasing population coupled with the presence of high unmet medical needs and rise in healthcare related customer expectations brought about by improvement in economic conditions. Such scenario is expected to offer lucrative growth opportunities for players in the global orthobiologics market.
 
Viscosupplementation segment held a dominant position in the global orthobiologics market in 2019, accounting for 58.7 percent share in terms of volume, followed by demineralized bone matrix and synthetic bone substitutes, respectively. Approval and launch of new products is expected to propel growth is expected to assist the segment growth.
 
High prevalence of trauma is also expected to help propel growth of the global orthobiologics market. According to January 2018 factsheet of the World Health Organization, 20 percent to 30 percent of older people in the United States who fall suffer moderate to severe injuries such as bruises, hip fractures, or head trauma.

Major players in the global orthobiologics market are focused on launching new products to expand their product portfolio. For instance, in August 2020, SeaSpine Holdings Corporation announced the limited commercial launch of the Explorer TO System, which provides posterior interbody solution that offers both parallel and lordotic expansion options to fit patient anatomy, as well as surgeon preference. Major players operating in the global orthobiologics market include, Zimmer Biomet Holdings Inc., Bone Biologics Corp., Harvest Technologies Corporation, Globus Medical Inc., Smith & Nephew plc, Stryker Corporation, Genzyme, Alphatec Spine Inc., Bacterin International Inc., DePuy Synthes Inc. (A Johnson & Johnson Company), Exactech Inc., Integra LifeSciences Corporation, Medtronic plc, NuVasive Inc., Orthofix Holdings Inc., SeaSpine Holdings Corporation, and Ortho Regenerative Technologies Inc.