Global orthobiologics market was valued at US$ 5.01 billion in 2021, and it is expected to reach a value of US$ 6.91 billion by 2028, at a CAGR of 4.7% over the forecast period (2022–2028).
Westford, USA, Aug. 31, 2022 (GLOBE NEWSWIRE) — Orthobiologics, also knowns are regenerative medicine therapy, use biologic materials, such as, stem cells, proteins and peptides, autologous or allogeneic cells, and cytokines or growth factors, among others to restore or improve the function of a damaged or diseased tissue. These treatments have been used to treat a wide variety of conditions, including arthritis, cardiac arrhythmia, psoriasis and cancer.
SkyQuest has identified several factors in the global orthobiologics market that have been driving the popularity of orthobiologics from the last few years. First, these treatments are often simple and short-term, which makes them easier for patients to tolerate. Second, orthobiologics can be used in combination with other treatments, which maximizes their effect. Third, orthobiologics can be used to treat conditions that are difficult to cure with conventional methods.
One of the main obstacles to wider adoption of orthobiologics is cost. However, this is beginning to change as new techniques and technologies are developed that make it easier to achieve successful results. In addition, there are now many nonprofit organizations working to increase access to regenerative medicine for patients around the world.
SkyQuest analysis suggests that orthobiologics market continue to be improved and developed every year, which is why they are expected to remain a popular treatment option for years to come. We have prepared a report that covers technological development, recent innovation in the field, top players, market share analysis, pricing analysis, value chain and supply chain analysis, and global consumption and production of orthobiologics. The report also provides a detailed understanding about market dynamics, potential market growth, segmental analysis, PESTLE, and porter’s five.
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Over 50% of Orthobiologics are Consumed in Spinal Fusion Treatment, Says SkyQuest
In terms of treatment methods, orthobiologics were most commonly used for spinal fusion (representing 50.30% of all treatments) and joint pain (representing 13% of all treatments). Interestingly, orthobiologics were also being used to treat other conditions such as carpal tunnel syndrome (9%), rheumatoid arthritis (11%), or osteoarthritis (10%) across the global orthobiologics market. According to the report, overall global reimbursement rates for orthobiologics were high, at 92% in the US. However, that varies greatly by country.
As of 2021, orthobiologics are now considered standard of care for patients with spinal fusion and responsible generating over 50% revenue of global orthobiologics market. There are a number of reasons for this high demand such as they are safe and effective, help to restore movement and function to the patient’s spine, and provide patient with some degree of relief from chronic pain. In addition to having a strong demand from patients, orthobiologics are also in high demand from physicians and surgeons. This is because orthobiologics allow for the fusion of vertebrae in a way that is more conservative than traditional methods such as surgery or metal staples. This means that there is less risk of post-operative pain or neurological problems.
SkyQuest report on orthobiologics market has included a detailed analysis of the market by application and end-use. This will help the market participant in understanding what is currently being consumed by share, what physicians are patients are preferring to treat the conditions.
23.8 Million Patients were Treated with Orthobiologics in 2021
Orthobiologics treatments are proving to be increasingly beneficial for patients across the globe. In order to provide an estimate of the total number of patients treated with orthobiologics in 2021, we turned to the International Association for the Study of Pain (IASP), which collects data on both prescription and non-prescription treatments.
As per SkyQuest’s recent, in 2021, 23.8 million patients were treated using biologics across the global orthobiologics market. This represents a growth of 5% over the previous year. The top five countries using orthobiologics are the United States (2.9 million), Germany (1.5 million), France (1 million), Brazil (800,000), and Japan (600,000). We expect the number is projected to increase by 59% until 2028 on account of declining treatment cost and rising number of healthcare establishment offering the treatment options.
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The increasing demand in the orthobiologics market is attributable to the aging population and the increasing prevalence of chronic diseases. In the U.S., for example, the population aged 65 years and older is projected to comprise over one-third of the total population by 2060. This age group is also highly predisposed to developing chronic diseases, such as arthritis and carpal tunnel, which are treated with orthobiologics.
Orthobiologics include treatments such as stem cell therapy and intra-articular injections, both of which are often used to treat pain and inflammation. This increase in usage across global orthobiologics market is likely due to the increasing popularity of these treatments, as well as the growing evidence that they are effective in treating conditions such as chronic pain, arthritis, and Kawasaki disease.
SkyQuest Analysts Says Orthobiologics are Minimally Regulated and Lacks Standardization
Orthobiologics are a category of drugs that are designed to treat various medical conditions by modifying the body’s biochemistry. While many orthobiologics are marketed and prescribed by physicians, there is a lack of standardization in the way these medications are manufactured and evaluated across the global orthobiologics market. In addition, orthobiologics have not been subject to rigorous clinical trials, meaning that their safety and effectiveness is unknown.
Because orthobiologics are not well-standardized, they can have significant variation in their active ingredients, dosing, and side effects. This makes it difficult for doctors to prescribe an appropriate dosage and tailor treatment plans specific to each patient’s needs. Additionally, orthobiologics cannot be easily compared to one another because their mechanisms of action remain largely unknown. Until more is known about the safety and effectiveness of these medications, patients should be cautious before making any decisions about using them.
SkyQuest has tracked all the government rules and regulations pertaining to global orthobiologics market and prepared a report. The report would provide a deeper insight about current regulations as per country, number of products available in the market, top providers of the products, their clinical trials if any, among others.
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Top Players in Global Orthobiologics Market
- Zimmer Biomet (US)
- Genzyme Corporation (Sanofi) (US)
- DePuy Synthes (Johnson & Johnson Services, Inc.) (US)
- Stryker (US)
- Medtronic (Ireland)
- Wright Medical Group N.V. (US)
- Anika Therapeutics, Inc. (US)
- SeaSpine(US)
- Bioventus (US)
- RTI Surgical Holdings, Inc. (Germany)
- Musculoskeletal Transplant (US)
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