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Orthobiologics Market Scenario, Leading Players, Segments Analysis and Growth Drivers to 2024

05-08-2019 03:51 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: P&S Intelligence

Orthobiologics Market Scenario, Leading Players, Segments

The global orthobiologics market is driven by increasing sports injuries and road accidents, increased obesity rate, growing awareness among people, and surging aging population. Moreover, the opportunities witnessed in the global market include development in implant technologies and shifting demand from mechanical to biological solutions. The global market has been classified in terms of product, application, end-user and geography. Based on product, the global market is segmented into bone morphogenetic proteins, demineralized bone matrix, synthetic bone substitute, allograft, viscosupplementation, machined bones, and stem cell therapy. Based on end user, the global market is segmented into orthopedic clinics, hospitals, and others.

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The global orthobiologics market is witnessing surge, due to demand for novel products, increasing burden of chronic arthritis. Also, the growing requirement of minimally invasive procedures has led to increased demand for orthobiologic products. However, the strict regulatory approval procedure for orthobiologic products, high cost of procedures, and scarcity of reliable clinical trial data is expected to restrain the growth of the global market during the forecast period.

Orthobiologics are substances used by orthopedic surgeons for facilitating quick healing of injuries of broken bones and injured muscles, ligaments, and tendons. These products are usually made from substances found naturally in the human body. The reasons for the increasing popularity of these products include faster healing and recovery, and less need for frequent hospital visits.

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The major companies operating in the global orthobiologics market include Exactech Inc., Medtronic plc., Stryker Corporation, Synthes Inc., Smith & Nephew Plc, Zimmer Biomet, DePuy Synthes Inc (Johnson & Johnson), Tornier Inc., and others.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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