Orthobiologics
helps to heal injured muscles, fractures, tendons and ligaments more quickly.
These are made up of naturally occurring body substances such as autologous
conditioned serum, autologous blood, bone grafts, stem cells, platelet rich
plasma, and growth factors. Therefore, these are commercially available for
orthopedic applications such as joint reconstruction, spinal fusion, and sports
related injuries.
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Rise
in number of orthopedic surgeries, rapidly aging population, increasing in
adoption of advanced products, and growing demand for minimal invasive
procedures are set to drive the global market for orthobiologics. As per the
report published by American Academy of Orthopedic Surgeons, in U.S., around
500,000 bone grafting surgeries are performed every year. Of these, almost half
of the surgeries are related to spinal fusion. These large number of procedures
lead to rise in demand for musculoskeletal tissue donation and a shortage of
cadaver material.
Additionally,
increased availability of products with high osteoinductive and osteoconductive
properties will further contribute to the market growth. An osteoinductive
protein provides biophysical stimulation which helps to repair and regenerate
bone fractures. Moreover, the high demand for orthobiologics in orthopedic
industry coupled with rise in adoption of orthobiologics in different orthopedic
applications such as joint reconstruction, trauma, craniomaxillofacial, and
spinal fusion.
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Development
of novel products related to bone healing has changed the field of orthopedic
treatment. Therefore, major players are highly focused on developing and
commercializing technologically advanced products. For instance, in September
2015, Wright Medical Group Inc. obtained premarket approval for its Augment
bone graft from FDA. This graft can be used in ankle or hind foot fusion
procedures. Similarly, in November 2015, CeraPedics, an orthobiologics company,
obtained Premarket Approval (PMA) application for its “i-FACTOR Peptide
Enhanced Bone Graft”. This graft can be used for the treatment of degenerative
cervical disc related disorders. Thus, introduction of technologically advanced
products is set to propel the market growth.
Major
players operating in this market are Medtronic plc, Stryker Corporation, Bone
Biologics Corp., Orthofix, Inc., Arthrex, Inc., Isto Biologics, Bioventus,
NuVasive, Inc., Osiris Therapeutics, Inc., and RTI Surgical, Inc. These
companies are highly focused on expanding their geographical presence through
establishing strong distribution channels and direct sales network.
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