Global Orthobiologics Market is Expanding at 5.14% of CAGR by 2027
“According to a new market research report published by Inkwood Research, “the Global Orthobiologics Market is escalating at a CAGR of 5.14% over the estimated years of 2019-2027.”
“Browse 29 market Data Tables and 45 Figures spread over 130 Pages, along with an in-depth TOC on Global Orthobiologics Market forecast 2019-2027.”
Orthobiologics or Regenerative medicine is an advancing aspect of the healthcare sector that dominantly depends on biomaterials and cell-based therapies for mending broken bones, inhibit bone disintegration and stabilization. The orthobiologics medicines are isolated from natural substances present in the human body.
Orthopaedic surgeons have begun taking help of these medicines to heal the injuries more quickly. They can pace up the treatment of patching broken bones as well as muscles coupled with ligaments and tendons which are injured. Orthobiologics provide a wide range of materials such as the autografts, allografts, synthetic biomaterials, stem cells and hyaluronic acid. They are in high demand, especially because of the rising number of surgeries involving spinal fusion and bone reconstruction.
The orthobiologics market is essentially driven by the extreme mandate for spinal fusion surgical procedure, rise in the aging population, the burgeoning numbers of bone-related maladies that happens mainly because of lifestyle choices and the ongoing advancement in technology.
Demand for Orthobiologics Market will Increase with Rising Geriatric Population
The global geriatric population is expected to expand up to 53% by 2022, which will most likely raise the demand for implantable medical devices substantially. Moreover, this significant rise in the population is expected to observe a rise in the incidence and occurrence of arthritis, which accounts for a sizeable income reaped from the aged population from the developing countries. Thus, with the increasing aging population, the demand for Orthobiologics market is expected to increase substantially and is expected to drive the orthopaedics market in most of the developed markets.
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Spinal Implants Market Contribute the Most to the Revenue Share Chart
Spinal fusion procedure helps in stabilizing critical conditions with regards to spinal injuries by connecting the spinal bones or vertebrae for minimizing or completely inhibiting motion that occurs between them. The implant systems that are used in the surgery get designed, especially for spinal instrumentation. They ideally facilitate fusion between the bone structures that ensure that the deformities get resolved, and in some cases can even out the spinal structure to strengthen them. The development of devices like the hook, rod and screw systems allows surgeons to three-dimensionally correct spinal deformities and the development of special plates and cages that help promote spinal fusion.
North America Captured the Largest Revenue in the Global Orthobiologics Market
The North American orthobiologics market is expected to grow massively over the next few years, mainly because of the risen awareness among the surgeon community that propelled them to switch from its mechanical counterparts. The Canadian economy can be attributed to the large demand of orthobiologics implants since a large chunk of its population belongs to the aging community which is the driving the intense growth of the said market in the country during the forecasting period of 2019-2027.
The Orthobiologics market is highly concentrated. Global and local vendors develop new technologies and products, such as stem cells products and synthetic bone growth stimulators, to remain competitive in the market. The products are mainly supplied by certain players like Exactech Inc., Baxter International Inc., Sanofi, Conmed Corporation, Allosource, Depuy Inc. (acquired by Johnson & Johnson), Nuvasive Inc., Smith & Nephew PLC, Integra Lifesciences Holding Corporation, Stryker Corporation, Amedica Corporation, RTI Surgical, Zimmer Biomet Inc., AAP Implantate AG, and Medtronic Inc., among others.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy; with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises of North & South America, CEE, CIS, Middle East, Europe, Asia, and Africa.