Orthobiologics Market size was valued at USD 8.46 billion in 2024 and is expected to exceed USD 17.04 billion by the end of 2037, expanding at over 5.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of orthobiologics is evaluated at USD 8.84 billion. The growth of the market can primarily be accounted to the rising cases of bone diseases across the globe. Based on the report provided by the National Library of Medicine (NLM), it was observed that around 1.5 million people suffer from fractures owing to some sort of bone disease every year.
Global orthobiologics market trends such as, the growing prevalence of low immunity and calcium deficiency owing to changing lifestyles and skyrocketing spending on medical technology are projected to influence the growth of the market positively over the forecast period. As of 2019, the total revenue generated by medical technology was anticipated to be nearly USD 450 billion while the R&D spending on this technology was estimated to be around USD 30 billion in the same year. Orthobiologics is an injectable therapy that utilizes biological substances to heal musculoskeletal injuries rapidly. The substances used in the therapy are made from the materials naturally produced by the body. Therefore, all these factors are anticipated to propel the growth of the market over the forecast period.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
5.7% |
Base Year Market Size (2024) |
USD 8.46 billion |
Forecast Year Market Size (2037) |
USD 17.04 billion |
Regional Scope |
|
End-user (Clinics, Hospitals)
The global orthobiologics market is segmented and analyzed for demand and supply by end-user into clinics and hospitals, out of which, the hospitals segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the rising patient pool in hospitals worldwide. For instance, in 2019, approximately 7% of the US population was noticed to be hospitalized.
By Solutions |
|
By Application |
|
By End-User |
|
Regionally, the global orthobiologics market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2037. The growth of the market is ascribed to the rising geriatric population with severe bone diseases and the ongoing development in the healthcare expenditure of the region. As per the data published by the World Bank, it was noticed that the geriatric population in the United States reached 56,545,938 in 2021.
Author Credits: Radhika Pawar
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?