Orthobiologics Market Trends

Growth Drivers

• Growing Number of Bone Fractures to Boost the Market Growth

For instance, the estimated number of bone fractures received is approximately 1000 fractures per 100,000 people every year.

• Increasing Sales of Orthopedic Devices

As of 2022, the orthopedic devices segment was valued at around USD 40 billion.

A wide array of technologies is included in orthobiologics to improve the functionality of the broken bone. Components such as, scaffolds to reinforce tissue, cell therapies, and bone grafting materials are used in the therapy. Orthobiologics is associated with bone injuries, for instance, osteoporosis, osteonecrosis, bone infection, and density.

• Higher Prevalence of Orthopedic Injuries

The prevalence of orthopedic injuries can be observed by the fact that more than 6 million orthopedic surgeries are performed every year solely in the USA.

• Rising Cases of Osteoporosis Across the Globe

It is observed that 1 in 2 women and 1 in 5 men aged 50 or over suffer from osteoporosis globally. Furthermore, in 2017-18, more than 18% of women were predicted to be living with osteoporosis.

• Significant growth in the Healthcare Expenditure

World Bank published statistics showing that in 2019, the healthcare expenditure reached 1,121.9 U.S. dollars per Capita.

Challenges

• Higher Cost Associated with the Treatment
• Lack of Skilled Medical Professionals and Requisite Technology
• Presence of the Alternatives in the Market

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.