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North America And Europe Account For Largest Share Of The Orthobiologics Market

05-15-2017 03:48 PM CET | Health & Medicine

Press release from: SA-BRC

North America And Europe Account For Largest Share Of

Orthobiologics used for accelerating musculoskeletal injuries have witnessed increased demand in the recent past due to rapid developments in the market. Orthobiologics market is expanding globally due to introduction of newer products based on platelet rich plasma and stem cell technology. Orthobiologics utilize regenerative potential of the body and assist in quick recovery of patients. These products are widely used in orthopedic procedures for bone injury, soft tissue damage, spinal procedures, caranio maxillofacial procedures and others. With introduction of platelet rich plasma and stem cell therapy orthobiologics market has witnessed swift growth in other disease areas. Quicker adoption of viscosupplementation products, bone marrow concentrate and specific growth factors are other drivers for the market.

Currently autograft are most popular considering compatibility and lesser side effects. However, physicians often face dilemma in using autograft and allograft. Advantages of allograft include quick surgery time, and reduced donor site morbidity; however serious side effects disease transmission and rare availability subvert these merits. Body may also launch an immune response against the allograft which may lead to serious complications and may even lead to replacement of the allograft. Platelet rich plasma (PRP) has gained focus due to its increased acceptance in sports medicine. Therapeutic applications of PRP include chronic tendon injuries, ligament and muscle injuries, tissue healing in chronic injuries, and arthritis. However unapproved application of PRP in orthopedic procedures has raised serious concerns. Regulatory interference on use of PRP, and approvals of fewer products may encourage companies to invest more in PRP therapy.

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Increasing number of orthopedic procedures and soft tissue repair procedures globally has supported the orthobiologics market growth. Aging population, and growing trend for physical fitness among baby boomers has led to an increase in patient footfall at hospital and emergency rooms with musculoskeletal injuries. North America and Europe account for largest share of the orthobiologics market, while rapid growth is anticipated in Asia Pacific and Latin America region. Evolving hospital infrastructure, improving economic conditions, increase in awareness about newer medical technology and availability of skilled physicians are some of the factors driving the orthobiologics market in these regions. Healthcare sector in Middle East region is also evolving rapidly. Government has laid major focus on improving quality of medical care in UAE. Increasing number of hospitals and specialty centers has boosted the overall healthcare market in this region.

Stryker Corporation, Arthrex, Inc., Isto Biologics, Anika Therapeutics, Inc., RTI Surgical, Inc., DePuy Synthes (Johnson&Johnson), Lattice Biologics Ltd., SeaSpine, and Citagenix are some of the leading players in the global orthobiologics market.

NOTE: This report is currently under research and will be made available to clients on request.

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Spearhead Acuity Business Research & Consulting Private Limited (SA-BRC) is a premium Life Science business intelligence and data analytics firm. SA-BRC team offers a wide range of business intelligence services to multiple stakeholders such as Medical Device Manufacturers, Service Providers (Hospitals, Payers, etc.), Suppliers, Group Purchase Organizations, Distributors and all other individuals in the entire value chain of healthcare industry. Our research and consulting capabilities extend across several sub-domains within the sphere of Life Sciences such as Biotechnology, Healthcare IT, Medical Devices, Veterinary Sciences, Wellness Products and Pharmaceuticals.

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