The Global Orthobiologics Market is likely to gain traction on account of rising geriatric population, which in turn is indicative of the increasing prevalence of chronic arthritis. Fortune Business Insights published a report, titled “Orthobiologics Market Size, Share and Global Trend by Product Type (Viscosupplements, Bone Growth Stimulators, Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cells, Allografts), Application (Spinal Fusion, Maxillofacial & Dental, Soft Tissue Repair, Reconstructive & Fracture Surgery), End User (Hospitals, Ambulatory Surgical Centers, Speciality Clinics) and Geography Forecast till 2025” which offers valuable insights into the drivers positively impacting the global market.
An Overview of the Impact of COVID-19 on this Market:
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Demand for Spinal Fusion Method Expected to Increase
A lead analyst at Fortune Business Insights said, “Spinal fusion covered the highest share in the global orthobiologics market in 2018 owing to the rising prevalence of traumatic injuries and accidents.” “The advantages offered by orthobiologics regarding the treatment of spine-related injuries may fuel the demand for spinal fusion method,” he continued. Another application called soft tissue repair is anticipated to witness highest growth on account of escalating demand for orthobiologics in cartilage repair. Rising incidence of sports injuries is also responsible for driving the soft tissue repair segment.
Favorable Reimbursement Policies Supports Growth in North America
From a geographical standpoint, North America is expected to lead the global orthobiologics market between 2028 and 2026. In 2018, the market for orthobiologics in North America was valued at US$ 2326.2 Mn. Favourable reimbursement policies in the U.S. and rising adoption of advanced orthobiologics therapies are key factors contributing to the market’s growth in the region. The rising demand for a better quality healthcare in North America is also expected to create growth opportunities for the orthobiologics market in the region.
Trailing North America, Europe is the second most prominent region, covering a significant share in the global market for orthobiologics. Growth of the orthobiologics market in Europe is attributable to recent FDA approvals for orthobiologics products. The rising demand for viscosupplements and increasing number of orthopaedic clinics are factors driving the orthobiologics market in Asia Pacific.
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