Orthobiologics Market to Reach $6.87 Bn, Globally, by 2025 at 4.3% CAGR: AMR
PORTLAND, Oregon, March 21, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, Orthobiologics Market by Product (Demineralized Bone Matrix {DBM}, Allograft, Bone Morphogenetic Protein {BPM}, Viscosupplementation Products, Synthetic Bone Substitutes and Others), Application (Osteoarthritis & Degenerative Arthritis, Spinal Fusion, Fracture recovery, Soft Tissue Injuries, and Maxillofacial & Dental Applications), Type (Knee, Ankle, Hip, Wrist & Shoulder, Spine, and Others), and End User (Hospitals & Ambulatory Centers, Research & Academic Institute, and Dental Clinics): Global Opportunity Analysis and Industry Forecast, 2018–2025. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global orthobiologics market generated $4.87 billion in 2017 and is projected to reach $6.87 billion by 2025, registering a CAGR of 4.3% from 2018 to 2025.
Surge in global geriatric population, which is prone to various diseases such as osteoarthritis and others, increase in awareness of orthobiologics, rise in demand for advanced treatment, surge in obesity, and rise in number of sports and road accidents are other factors that drive the growth of the global orthobiologics market. However, higher cost of orthobiologics and stringent approval process restrain the growth of the market. Conversely, high growth potential in developing nations and upsurge in demand for advanced treatment create new opportunities for the market growth.
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Viscosupplementation products segment to be lucrative through 2025
Among products, the viscosupplementation products segment accounted for half of the overall market share in 2017 and would retain its dominance through 2025. The same would grow at the fastest CAGR of 4.8% during the forecast period. This is due to the increase in geriatric population, rise in prevalence of osteoarthritis, and growth in lifestyle-induced disorders, such as obesity.
Hospitals & ambulatory centers segment to be lucrative through 2025
Among end users, the hospitals & ambulatory centers segment was the largest in 2017, capturing 90% of the market share and would maintain its dominance through 2025. The same segment would grow at the fastest CAGR of 4.4% from 2018 to 2025. This is because these facilities are fully equipped for performing the surgeries and have the skilled professionals to carry out the procedures.
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North America to be dominant, Asia-Pacific to exhibit the fastest growth through 2025
North America captured half of the market share in 2017 and is likely to dominate the market through 2025. This is due to rise in the elderly population, favorable reimbursement rates, rise in the prevalence of orthopedic disorders even among younger population, and increase in number of road accidents in the region. However, Asia-Pacific is expected to register the fastest CAGR of 5.7% from 2018 to 2025.
Key players of the industry
Leading market players analyzed in the research include Stryker Corporation, Zimmer Biomet Holdings, Inc., Wright Medical Group, Inc., Integra LifeSciences Holdings Corporation, Arthrex, Inc. (Arthrex), Johnson and Johnson (J&J), Exactec Inc., Medline Industries, Inc., Globus Medical, Inc., and NuVasive Inc. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
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