The orthobiologics devices and equipment market has grown from $5.29 billion in 2023 to $5.74 billion in 2024, with a CAGR of 8.4%. Growth is fueled by innovations in device technology, a rise in sports injuries, and an aging population. The market is projected to reach $7.39 billion by 2028, with a CAGR of 6.5%. Future drivers include AI-assisted surgical planning and regenerative medicine, with trends focusing on patient-specific solutions and minimally invasive procedures.
Major Driver In The Orthobiologics Devices And Equipment Market
The aging population profile of most countries has contributed to the growth of the orthobiologics devices and equipment market globally. With 962 million people aged over 60 worldwide, comprising 13% of the global population, and expected to grow annually at about 3%, according to the United Nations, there's a significant demographic shift towards older age groups. Europe, in particular, exhibits a high percentage of the population aged over 60. The increase in the aging population has elevated the patient pool for orthopedic disorders, driving demand for orthobiologics devices and equipment. Moreover, by 2023, the orthobiologics devices and equipment market witnessed substantial growth, reaching a valuation of $22.8 billion. Forecasts for 2028 project sustained expansion, with the market expected to surpass $35 billion.
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Orthobiologics Devices And Equipment Market Competitive Landscape
BONESUPPORT AB, Sanofi SA, Medtronic plc, Kuros Biosciences Ltd., Stryker Corporation, Baxter International Inc., DePuy Synthes, Braun Melsungen AG, Zimmer Biomet Holdings Inc., Terumo BCT Inc., Terumo Corporation, Smith & Nephew plc, Arthrex Inc., Enovis Corp., Integra Lifesciences Holding Corporation, NuVasive Inc., Globus Medical Inc., Wright Medical Group NV, Bioventus LLC, Orthofix Medical Inc., Pioneer Surgical Technology Inc., RTI Surgical Inc., SeaSpine Holdings Corporation, Xtant Medical Holdings Inc., Acumed LLC, Bone Biologics Corp., Osiris Therapeutics Inc., K2M Group Holdings Inc., BSN medical Pvt. Ltd.
Key Orthobiologics Devices And Equipment Market Trend
Biodegradable implants are increasingly being used in orthobiologics treatment and trauma orthopedic surgeries. Biodegradable implants are used to replace a missing biological structure, support a damaged biological structure, and enhance the existing bone structure. Biodegradable products such as re-absorbable polymers composed of polyglycolic acid and polylactic acid manufactured in the form of plates, screws, and pins are replacing traditional devices like plates and screws which are more expensive. Surgeons are preferring biodegradable implants to replace conventional implants, as biodegradable implants can be engineered to provide temporary support for bone fractures, can degrade at a rate matching new tissue formation, eliminate the need for the second surgery, and are highly useful in fracture fixation in children with less implant-related infections. For instance, Stryker Corp. offers orthobiologics such as bone repair biodegradable products that are used in bone regeneration and bone healing, soft tissue regeneration, and muscle connection to bone
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Orthobiologics Devices And Equipment Market Segmentation
The orthobiologics devices and equipment market covered in this report is segmented –
1) By Product Type: Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cell Therapy, Plasma-Rich Protein, Viscosupplementation, Bone Morphogenetic Protein, Synthetic Orthobiologics
2) By Application: Osteoarthritis and Degenerative Arthritis, Soft-Tissue Injuries, Fracture Recovery, Maxillofacial and Dental Applications, Spinal Fusion, Trauma Repair, Reconstructive Surgery
3) By End Use: Hospitals, Orthopedic Clinics, Other End Users
By Geography:The regions covered in the orthobiologics devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the global Ortho biologics devices and equipment market in 2023.
The Orthobiologics Devices And Equipment Global Market Report 2024 furnishes information about the global orthobiologics devices and equipment market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
