Orthobiologics Market to Surpass US$ 10,300.6 Million by 2030, Says Coherent Market Insights (CMI)
Burlingame, Feb. 20, 2023 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global orthobiologics market is estimated to be valued at US$ 6,515.2 in 2022 and is expected to exhibit a CAGR of 5.9% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Orthobiologics Market:
The adoption of inorganic strategies such as product launch by key market players is expected to drive the global orthobiologics market growth over the forecast period. For instance, in March 2022, Molecular Matrix, Inc., a biotechnology company, announced that it had launched Osteo-P, a synthetic bone graft substitute, which is made by using hyper-crosslinked carbohydrate polymer (HCCP) technology platform which optimize the microenvironment for bone repair and regeneration.
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Key Market Takeaways:
The global orthobiologics market is expected to exhibit a CAGR of 5.9% during the forecast period due to the increasing inorganic strategies such as product launches by the key market players to expand its product portfolio. For instance, in June 2022, Isto Biologics, an orthobiologics company, announced that they had launched Influx Fibrant, a new line of advanced allograft, an unprecedented line of functional constructs derived from cortical allograft.
Among product type, bone allograft is expected to hold dominant position in the market due to increasing product approval by regulatory authorities such as the U.S. Food and Drug Administration over the forecast period. For instance, in July 2020, Baxter, a healthcare company, announced that they had received an approval from the U.S. Food and Drug Administration for altapore shape bioactive bone graft, which is is designed to enhance bone growth and help to achieve fusion, which reduce the pain and other improved clinical outcomes for patients.
Competitive Landscape:
Key players operating in the global orthobiologics market include Zimmer Biomet, Bone Biologics Corp., Globus Medical, Smith & Nephew Inc., Stryker, ATEC Spine, Inc., XTANT MEDICAL, Johnson & Johnson Services, Inc., Exactech, Inc., Integra LifeSciences, Medtronic, NuVasive, Inc., Orthofix US LLC., SeaSpine, ChitogenX Inc., Spine Wave, Inc., Molecular Matrix, Inc., Isto Biologics, Baxter, Locate Bio Limited, Cerapedics, Ossifix Orthopedics, and Aziyo
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Market Segmentation:
- Global Orthobiologics Market, By Product Type:
- Bone Allograft
- Machined Bones
- Demineralized Bone Matrix
- Synthetic Bone Substitutes
- Bone Morphogenetic Protein (BMP)
- Stem Cell Therapy
- Viscosupplementation
- Global Orthobiologics Market, By Application:
- Spinal Fusion
- Trauma
- Reconstructive Surgeries
- Global Orthobiologics Market, By End User:
- Hospitals
- Ambulatory Surgical Centers
- Orthopedic Center
- Global Orthobiologics Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Regions
- South Africa
- Central Africa
- North Africa
- By Country/Regions
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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