Albany, NY -- (SBWIRE) -- 05/19/2018 -- The global orthobiologics market is expected to be valued at US$5.519 bn in 2019 through a CAGR of 5.9% between 2013 and 2019. This market was valued at US$3.745 bn in 2012. This data is taken from a research report published by Transparency Market Research.The top market intelligence provider has compiled a research report within its database on the biotechnology industry, titled "Orthobiologics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019."
The key aim of orthobiologics is to catalyze the process of skeletal healing the building of the tissue above it. These are the substances that can significantly improve the healing time of ligaments, tendons, muscles, and bones. While the human body is capable of naturally producing orthobiologic substances, the incorporation of additional chemicals can speed up the healing process remarkably.
As per the findings released in the report, the global orthobiologics market is being driven by an increase in the general requirement for performing musculoskeletal therapies and procedures. There is a growing rate of accidents – whether road or athletic – across the world, boosting the demand for orthobiologics. Most importantly, the core application of this market will lie in the treatment of osteoarthritis, which is shown to be rising in prevalence.
One of the key demographics in need of orthobiologics is the elderly. The geriatric population shows a high tendency towards developing bone and muscle related problems, especially arthritis.
On the other hand, the global orthobiologics market is being impeded by the lack of insurance and medical bill reimbursement policies in developed nations. Coupled with the high medical expenses developed by healthcare organizations in these locations, the citizens are compelled to either not avail treatment, or look to medical tourism for solutions.
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The report draws a focused and investigative sketch of the global orthobiologics market on the basis of applications, product types, and geography.
In terms of products, the segment of viscosupplementation was the largest in the global orthobiologics market for 2012, owing to a high demand for knee replacement surgeries, where it is used most commonly. The key advantage of using viscosupplementation is its higher effectiveness in comparison to conventional NSAIDs as a painkiller and also creates less complications in terms of side effects.
The second-largest segment in the global orthobiologics market for 2012 was BMP, but the report analysts suggest that its market size will shrink in the given forecast period. This is due to the failure of Medtronic's INFUSE.
In terms of applications, the global orthobiologics market is segmented reconstructive surgery, trauma, and spinal fusion.
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A key aspect of the report is the explanation of the global orthobiologics market from the perspective of its key players. The competitive landscape of this market is therefore understood through the strategies, implementations, and performances of companies such as Zimmer Holdings, Inc., Integra LifeSciences Corporation, Medtronic, Inc., Exactech, Inc., Globus Medical, Inc., Biomet, Inc., DePuy Synthes, Inc., Alphatec Spine, Inc., and Bacterin International, Inc.