3.5% CAGR Anticipated for Orthobiologics Market During 2017-2027
The research report titled "Orthobiologics Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)" covers annual sales revenue generated by various market segments during the period of assessment 2017-2027. Furthermore, developments taking place in the market, various trends impacting the performance of the market and other drivers fuelling revenue growth of the global orthobiologics market are enumerated in this elaborate research study. Certain challenges that are pulling market growth southward are also assessed in this report. The report presents a high-level overview of the global orthobiologics market to the reader and extends support in planning future moves by portraying an accurate forecast model of the global orthobiologics market.
Global Orthobiologics Market: Key Forecast Highlights
The global orthobiologics market research report features the current market scenario as well as the future growth prospects. According to this study, the global orthobiologics market is projected to grow at a CAGR of 3.5% throughout the period of assessment 2017-2027. In 2017, the global orthobiologics market was valued at US$ 4.8 Bn and it is estimated to reach a valuation of more than US$ 6500 Mn by the end of the assessment year (2027).
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Global Orthobiologics Market: Highlights on Different Segments
The global market for orthobiologics is segmented by product type, by end user and by region.
By region, North America is expected to be a highly lucrative market for orthobiologics. Several advancements in healthcare along with rising expenditure on research and development in this region are key parameters pushing the growth of the market upward. The orthobiologics market in North America is expected to reach a value over US$ 3 Bn by the end of the forecast period. The orthobiologics market in Asia Pacific excluding Japan (APEJ) is projected to rise at a higher CAGR of 4.4% during the period of forecast.
By end user, the hospitals and ambulatory surgical centres segments are expected to grow at the same pace during the forecast period. However, with respect to revenue, hospitals are a more lucrative option for orthobiologics manufacturers as they have reflected higher demand over the last few years. Orthopaedic clinics are also expected to witness significant growth and register a CAGR of 3.6% during the period of assessment.
By product type, the bone graft stimulators segment is the largest and is estimated to reach a market valuation of more than US$ 3 Bn by the end of 2027. Viscosupplements segment is the second largest and a highly lucrative segment expected to witness a higher pace of growth during the forecast period.
Global Orthobiologics Market: Growth Influencing Factors
Factors such as rising incidence of orthopaedic disorders leading to fractures, increasing incidence of sports injuries, rising adoption of orthobiologics material, rising demand for out-patient surgical procedures, increasing demand for orthopaedic surgeries owing to medical tourism and rising technological developments to enhance surgery time and efficiency are supporting the growth of the global orthobiologics market. But the market is not void of challenges. High cost of orthopaedic surgery, increasing competition causing price fluctuations, lack of awareness, uncertainty about efficacy, availability of alternative therapies and issues related to devices are posing restraints to the growth of the global orthobiologics market.
Global Orthobiologics Market: Competitive Assessment
The research report on the global orthobiologics market delivers a complete package of market intelligence by covering the analysis on participants in the market. Major companies profiled in this research report include Medtronic plc., NuVasive, Inc., Stryker Corporation, Zimmer Biomet Holdings, Orthofix International N.V., Anika Therapeutics, Inc., DePuy Synthes (Johnson & Johnson), Bioventus, Arthrex, Inc., SeaSpine Holdings Corporation, Sanofi-Aventis (Sanofi SA), Djo Global, Inc., Seikagaku Corporation, RTI Surgical, Inc., Heraeus Holding GmbH, Fidia Pharma USA Inc., TRB Chemedica International SA, Allosource, Musculoskeletal Transplant Foundation, Inc., and Ito Co., Ltd.
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