Orthobiologics Market Rich Product Pipeline of Expansion Strategies from Effective Care Technologies
Orthobiologics are chemicals used by orthopedic surgeons to aid in the healing of injuries. Platelet-rich blood, bone marrow concentration, specific fat grafts, and newborn tissues are all examples of orthobiologics.
By the end of 2019, the global orthobiologics market was expected to be worth $5,519.9 million dollars.
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During the forecast period, the global orthobiologics market is predicted to increase due to the authorization and introduction of new products. Kuros Biosciences BV, Kuros Biosciences’ Dutch affiliate, was awarded the European patent EP 3268058, entitled “Osteoinductive composites,” in July 2020, which includes specific mixtures of polymers and coarse aggregates and significantly increases Kuros’ patent portfolio.
Due to their growing populations, high unmet medical requirements, and increased healthcare-related consumer preferences spurred by rising incomes, developing countries in Asia Pacific and Latin America have enormous potential for the global orthobiologics market. Such a setting is anticipated to provide attractive development possibilities for the global orthobiologics market.
The rising price of orthobiologics is forecast to stifle the global orthobiologics market’s growth.
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The global orthobiologics market was worth US$ 5,519.9 million in 2019 and is expected to reach US$ 8,708 million by 2027, growing at a CAGR of 5.9 percent during 2020 and 2027. Over the forecast period, the market is projected to be driven by the rising incidence of chronic arthritis.
In terms of quantity, the Viscosupplementation category dominated the global orthobiologics market in 2019, contributing for 58.7 percent of the market, trailed by Demineralized Bone Matrix and Synthetic Bone Substitutes, accordingly. Clearance and the introduction of new goods are foreseen to help the category expand.
The global orthobiologics market is projected to expand due to the high occurrence of trauma. In the U.S., 20–30 percent of older adults who fall incur severe chronic wounds such as bruising, hip fractures, or head trauma, according to a World Health Organization brief published in January 2018.
The global orthobiologics market’s major players are focusing on releasing new products to increase their product offerings. SeaSpine Holdings Corporation announced the restricted retail introduction of the Explorer TO System in August 2020. The Explorer TO System is an anterior interbody solution that enables both parallel and lordotic extension choices to match client physiology and operator choice.
Key companies contributing in the global orthobiologics market are Bacterin International, Inc., Alphatec Spine, Inc., Genzyme, Stryker Corporation, Smith & Nephew plc, NuVasive, Inc., Harvest Technologies Corporation, Bone Biologics Corp, Zimmer Biomet Holdings, Inc., Ortho Regenerative Technologies Inc., SeaSpine Holdings Corporation, Orthofix Holdings, Inc., Medtronic, Plc, Integra LifeSciences Corporation, Globus Medical, Inc., Exactech, Inc., and DePuy Synthes, Inc.
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July 2020: Ortho Regenerative Technologies Inc. unveiled major good outcomes following completion of its crucial clinical trials study report in Rotator Cuff Tear repair under Good Laboratory Practices conditions.
August 2020: SeaSpine Holdings Corporation took part in a digital roundtable discussion at The Canaccord Genuity 40th Annual Growth Conference.
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