Worldwide Orthobiologics Market Canvassed in New RNCOS Report Published at MarketPublishers.com20 Apr 2016 • by Natalie Aster
LONDON – The global market for orthobiologic products as worth close to USD 4 billion as of 2015. The major growth driver is the surging use of orthobiologics, particularly bone graft substitutes in a slew of applications. Moreover, factors such as an upsurge in the incidence of different orthopedic disorders, a hike in obesity rates, a rise in the acceptance of orthobiological products, technology advances, among others, have also given a boost to the marketplace. However, the increased cost of the orthobiologics and orthopedic surgeries, sophisticated regulatory environment, lack of clinical data, and the biocompatibility issues pertaining to bone morphogenetic proteins (BMPs) are set to restrain the market growth in the years to come.
In terms of product type, viscosupplementation captures the lion’s share of the market. Synthetic bone substitutes and stem cell based products will likely see considerable growth owing to the surging number of R&D activities in the stem cell orthobiologics marketplace.
Spinal fusion was the largest application area due to the rising number of spinal fusion surgical procedures. The reconstructive surgery sector is likely to grow at the fastest rate owing to the increasing number of hip and knee replacement surgeries.
Currently, North America is the dominant market for orthobiologics. The high market share is attributed to the high prevalence rates of obesity and arthritis, increased healthcare spending in the region, extensive use of orthobiologics products, and the launch of novel and advanced products in the market.
New report “Global Orthobiologics Market Outlook 2020” developed by RNCOS E-Services Pvt. Ltd (RNCOS) gives a 360-degree assessment of the world orthobiologics market. It gives details market segmentation based on product type, application area, and by geography. The report examines key forces propelling and restraining the industry’s growth, takes a look at the major trends and opportunities in the market. The study presents market size estimates and forecasts for the overall market and for each segment discussed. The report also provides deep insights into the orthobiologics products that are under development. Furthermore, a profound dive into the competitive landscape is included, covering the leading players and their latest developments and growth strategies.
More reports by the publisher can be found at RNCOS page.