Orthobiologics - substances that support the quicker healing of damaged injured ligaments, muscles, bones, or tendons - are increasingly used by surgeons to speed up patient recovery after an invasive orthopedic procedure. The efficacy of orthobiologics makes them an exciting and dynamic area in the field of medicine. As orthobiologics assume a place of importance in the decisions made by orthopedic surgeons, the global orthobiologics market is expected to register a steady growth rate over the next few years.
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According to market experts, the marketplace for orthobiologics was estimated to be worth US$3,745.6 million globally as of 2012, and by the end of 2019, it will value US$5,519.9 million. This, expressed in CAGR terms, comes to a moderately healthy 5.9%. Of this, the North America market alone accounted for US$1.5 billion of the total market in 2012. These numbers show that while growth will occur in a steady manner, it will not be drastic. The key to companies’ growth in the global orthobiologics market is to not lose focus on innovation and research.
The United Nations’ estimates reveal that by 2050, at least two in every five persons will be aged 60 years or older. An expanding population of the elderly is creating higher demand for medical and healthcare services tailored to this age group. Market analysts expect that in the next few years, growth in the geriatric population will heavily influence the orthobiologics market.
In view of this imminent demographic change, companies in the orthobiologics market will have to focus on introducing products and solutions that address age-related orthopedic disorders. That said, the demand for orthobiologics from other age groups will also continue to grow with a higher incidence of orthopedic deformities, accidents, and sports injuries.
The one trend that is already visible in the orthopedic industry is the decreased preference for autografts and allografts. At the same time, an increased inclination toward the use of orthobiologics is being observed. The demand for sophisticated orthobiologics equipment is reported as being high, as it enables patients to recover faster and reduce the duration of their hospital stay.
Products based on stem cell are gaining widespread acceptance, and this product segment will also see a healthy rate of growth within the global orthobiologics market. The use of synthetic bone substitutes will become a key trend because it cuts the risk of infection transmission to a negligible level.
Obesity has a direct bearing on bone health, and is known to expedite the occurrence of conditions such as osteoarthritis and rheumatoid arthritis. Overweight is a disease that has become pervasive in recent years. It adversely impacts bone health and contributes to the higher demand for orthopedic treatments, which include orthobiologics. Other factors such as a sedentary lifestyle bring about higher demand in the orthobiologics market. Experts predict that higher case volume will also be seen on account of a spurt in the number of sports-related injuries.
Though the orthobiologics market is poised to follow an upward growth graph, the market will face impediments in the form of reimbursement schemes that are not patient-friendly. Unless there is a change in the stance adopted by medical industry regulators, this restraint cannot be effectively overcome. This aspect could turn customers away from orthopedic procedures that make use of orthobiologics.
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