Orthobiologics Market Size, Share, Growth Analysis, By Product, By Application, By End User, By Region - Industry Forecast 2024-2031

Global Orthobiologics Market size was valued at USD 6.1 billion in 2022 and is poised to grow from USD 6.43 billion in 2023 to USD 9.87 billion by 2031, growing at a CAGR of 5.5% during the forecast period (2024-2031).

The orthobiologics market is expected to experience significant growth during the forecast period, driven by several key factors. The increasing frequency of sports injuries and traffic accidents are two prominent factors anticipated to fuel market expansion. Additionally, the rising incidence of spinal diseases and disorders is projected to contribute to the market's growth. Furthermore, the growing patient preference for minimally invasive procedures is likely to support market expansion, though this may be tempered by the high costs associated with orthobiologics-based treatments, which could act as a restraint. The market is also benefiting from the growing elderly and obese population, which further accelerates demand. Orthobiologics, also known as regenerative cellular therapies, comprise products containing growth factors that not only alleviate discomfort but also promote tissue healing and help restore normal function.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Orthobiologics market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Orthobiologics Market Segmental Analysis

Global Orthobiologics Market is segmented by Product, Application, End User and Region. Based on Product, the market is segmented into Viscosupplementation Products, Demineralized Bone Matrices, Synthetic Orthobiologics, Bone Morphogenic Protein, Allografts, Plasma-Rich Protein, Bone Marrow Aspirate Concentrate. Based on Application, the market is segmented into Osteoarthritis and Degenerative Arthritis, Spinal Fusion, Soft-Tissue Injuries, Fracture Recovery, Maxillofacial and Dental Applications. Based on End User, the market is segmented into Hospitals, Orthopedic Clinics, & Ambulatory Care Centers, Research & Academic Institutes, Dental Clinics and Facilities. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Drivers of the Global Orthobiologics Market

Viscosupplements are in high demand and are expected to significantly contribute to the growth of the orthobiologics market. Knee osteoarthritis, a common issue among the elderly, is extensively treated with viscosupplements, which are hyaluronic acid injections administered directly into the joints. The expansion of the viscosupplements segment is driven by factors such as high product costs, the entry of new manufacturers, and recent marketing approvals. Additionally, the segment is benefiting from improved reimbursement policies, further enhancing its growth prospects. Given these factors, the increasing demand for viscosupplements is anticipated to drive the expansion of the global orthobiologics market during the forecast period.

Restraints in the Global Orthobiologics Market

The growing patient preference for minimally invasive procedures is expected to present challenges to the expansion of the orthobiologics market. Additionally, the market may face further difficulties due to the adverse effects associated with BMP-based therapy. Another significant constraint is the surging prices of orthobiologics-based treatments, which may hinder market growth throughout the forecast period. The complex synthesis processes, stringent manufacturing regulations, and high production costs further limit market expansion. Moreover, the high costs associated with orthobiologics products and treatments, coupled with inadequate reimbursement policies, are major obstacles impeding the growth of the global orthobiologics market.

Market Trends of the Global Orthobiologics Market

The global orthobiologics market is expected to grow significantly, driven by the high prevalence of sports-related injuries. For example, a study titled "Results on Sports-Related Injuries in Children from NHS Emergency Care Dataset Oxfordshire Pilot: An Ecological Study," published in November 2018, revealed that 47.4 percent of emergency department visits related to sports injuries involved children aged 0 to 19, and approximately 23.5 percent of all age groups' admissions were due to sports injuries. However, the cost of orthobiologics is variable in the global market. According to a University of Alabama at Birmingham study, as reported in an article published in Sports Health in October 2019, the cost of orthobiologics therapy can range from a few hundred dollars to as much as $12,000. This price fluctuation adds a layer of complexity to the market.