Press release
Growth Dynamics on Orthobiologics Market 2019-2026 | Prominent Players : Zimmer Biomet , Genzyme Corporation (Sanofi) , DePuySynthes (Johnson & Johnson Services, Inc.), Stryker , Medtronic , Wright Medical Group N.V. , Anika Therapeutics Inc.
Orthobiologics Market
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The report covers :
o Global Orthobiologics Market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast time frame.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this [Market].
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Leading Players operating in the Orthobiologics Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
• Zimmer Biomet
• Genzyme Corporation (Sanofi)
• DePuySynthes (Johnson & Johnson Services, Inc.)
• Stryker
• Medtronic
• Wright Medical Group N.V.
• Anika Therapeutics, Inc.
Demand for Spinal Fusion Method Expected to Increase
A lead analyst at Fortune Business Insights said, “Spinal fusion covered the highest share in the global orthobiologics market in 2018 owing to the rising prevalence of traumatic injuries and accidents.” “The advantages offered by orthobiologics regarding the treatment of spine-related injuries may fuel the demand for spinal fusion method,” he continued. Another application called soft tissue repair is anticipated to witness highest growth on account of escalating demand for orthobiologics in cartilage repair. Rising incidence of sports injuries is also responsible for driving the soft tissue repair segment.
Favorable Reimbursement Policies Supports Growth in North America
From a geographical standpoint, North America is expected to lead the global orthobiologics market between 2028 and 2026. In 2018, the market for orthobiologics in North America was valued at US$ 2326.2 Mn. Favourable reimbursement policies in the U.S. and rising adoption of advanced orthobiologics therapies are key factors contributing to the market’s growth in the region. The rising demand for a better quality healthcare in North America is also expected to create growth opportunities for the orthobiologics market in the region.
Trailing North America, Europe is the second most prominent region, covering a significant share in the global market for orthobiologics. Growth of the orthobiologics market in Europe is attributable to recent FDA approvals for orthobiologics products. The rising demand for viscosupplements and increasing number of orthopaedic clinics are factors driving the orthobiologics market in Asia Pacific.
BioFiber by Tornier and Similar Product Developments to Boost Growth
The global orthobiologics market is driven by emerging technologies in orthobiologics treatment. For instance, a technology called 3D printed implant offers better stability and significantly reduces surgery time. A global leader in orthopaedics called Tornier has launched BioFiber Surgical Mesh. This technology helps to repair ligament injuries and other muscle injuries. Growing geriatric population is another factor fuelling demand for orthobiologics products such as orthobiologics injections. The rising clearances for several orthobiologics products is driving the orthobiologics market during the forecast period. Other factors likely to boost the orthobiologics market include increasing demand for advanced treatment and high growth potential especially in emerging countries.
Stringent Regulations and High Cost May Restrict the Market to Grow
Although the orthobiologics market is growing considerably, there are some factors that may hamper the growth. These include high costs associated with orthobiologics treatment. People in low-income regions cannot afford such treatments and this may pose a serious threat to the growth of the orthobiologics market. Another factor hampering the market is strict approval process for orthobiologics treatment and products.
NuVasive’s Launch of Propel DBM in 2018, to Boost its Market Position
Some of the leading players presently operating in the global orthobiologics market are Medtronic, Stryker, Sanofi, Zimmer Biomet, Bioventus, Sea Spine, Musculoskeletal Transplant Foundation, Wright Medical Group N.V., and RTI Surgical Holdings, Inc. Companies are focussing on launching new and technologically advanced orthobiologic products to increase their share in the orthobiologics market. For instance, NuVasive announced the launch of a new product called Propel DBM in 2018. This product helps to encourage bone growth among patients suffering from bone disorders.
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