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Orthopedic Regenerative Surgical Products Market Trends, Demand, Insights 2024-2033
Orthopedic Regenerative Surgical Products Market Trends
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According to The Business Research Company's, The orthopedic regenerative surgical products market size has grown strongly in recent years. It will grow from $4.27 billion in 2023 to $4.66 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to aging population, orthopedic injuries, patient demand, sports medicine, musculoskeletal disorders.
The orthopedic regenerative surgical products market size is expected to see strong growth in the next few years. It will grow to $6.4 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to regulatory approval, sustainable practices, minimally invasive procedures, rehabilitation and physical therapy, joint preservation. Major trends in the forecast period include advanced biomaterials, surgical advancements, artificial intelligence (ai) and predictive analytics, regenerative medicine advancements, orthopedic implants.
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Market Drivers and Trends:
The rising prevalence of orthopedic diseases across the globe is likely to contribute to the growth of the orthopedic regenerative surgical products market. The orthopedic regenerative surgical products contribute to the prevention of orthopedic problems such as fractures, sprains, and strains, as well as lifelong conditions associated with ongoing functional limitations and disability. Approximately 1.71 billion people have musculoskeletal conditions worldwide. The orthopedic disease musculoskeletal conditions are the leading contributor to disability worldwide, with low back pain being the single leading cause of disability in 160 countries. Hence, the rising prevalence of orthopedic diseases drives the market for orthopedic regenerative surgical products.
Technological advancements are a key trend gaining popularity in the orthopedic regenerative surgical products market. For instance, in 2021, the USA-based Anika Therapeutics, Inc., a global, integrated orthopedic and regenerative medicines company specializing in therapeutics based on its proprietary hyaluronic acid (HA) technology, announced the successful completion of the first human surgical procedure with its injectable HA-based bone repair therapy for the treatment of bone voids and other skeletal system bone defects caused by trauma or age-related degeneration. Around 900,000 people require treatment for bone voids and other bone defects of the knee, which cause pain and impaired function and may necessitate total joint replacement therapy.
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Major Key Players of the Market:
Baxter International Inc., Zimmer Biomet Holdings Inc., Stryker Corporation, Smith&Nephew plc, Allosource, Anika Therapeutics Inc., Vericel Corporation, Amniox Medical Inc., MIMEDX Group Inc., Aptissen S.A, Arthrex Inc., Bioventus LLC, Conmed Corporation, DePuy Synthes Inc., Exactech Inc., Globus Medical Inc., Integra LifeSciences Corporation, Johnson & Johnson Medical Devices group, Kuros Biosciences AG, Medtronic plc, NuVasive Inc., Orthofix Medical Inc., Osiris Therapeutics Inc., RTI Surgical Inc., SeaSpine Holdings Corporation, Terumo BCT Inc., Tissue Regenix Group plc, Wright Medical Group N.V., Xtant Medical Holdings Inc., Camber Spine Technologies, Lima Corporate, Life Spine Inc., CollPlant Biotechnologies Ltd.
Orthopedic Regenerative Surgical Products Market 2024 Key Insights:
• The orthopedic regenerative surgical products market size is expected to see strong growth in the next few years. It will grow to $6.4 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Elevating Prevalence Of Orthopedic Diseases Fuels Growth In Orthopedic Regenerative Surgical Products Market
• Technological Advancements Transforming Orthopedic Regenerative Surgical Products Market
• North America was the largest region in the orthopedic regenerative surgical products market in 2023 and is also expected to be the fastest-growing region in the forecast period
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