Global Ortho Biological Products Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
The global ortho biological products market is anticipated to grow to $15.4 billion during 2016- 2022. Due to Rising of ortho biological products is driven by growing awareness towards adoption of orthobiologics, development in technology, and increasing number of orthopedic related process. Further specific restraint such as high cost associated with the products. These products have high costs, that are beyond the affordability of few people and it is restricting the growth of the market.
The segments of the ortho biological products market are on the basis of the applications, products, and region. The products market segmentation is on the basis of Demineralized Bone Matrix, machined bones, allograft, Bone Morphogenetic Protein, machined bones, visco supplementation, stem cell therapy, and other applications
Orthopedic surgery was restricted to metal and screw implants to repair the damages and fractured bones, wherever, development in technology has propelled the field of orthopedics with the latest alternatives that are providing better comfort and durability.
Orthobiologics includes use of biology and biochemistry in development of bone and tissue replacement materials. This is the rapidly growing segment of the orthopedic industry as it has offered alternatives for traditional bone and tissue repair provide better durability. Orthobiologics is helping in rising the strength and ability of repair and minimize the length of the postoperative period.
Rising demand for minimally invasive surgeries is expected to provide new opportunities for technological innovations in the market and it additional makes new roads for development. Others effect rendering driver includes demographic and social changes in lifestyle of people, increasing spending power of people over healthcare, and rising disposable income. The benefits provided by ortho biological products, for example, decrease pain and faster healing and recoveries are few of the other factors that are anticipated to fuel the development of the market further.
On the basis of geography, the global market of ortho biological products is segmented into North America, Europe, Asia Pacific and Rest of the world. The North America is the leading region in the market of ortho biological products. The market expansion and the lead is expected to sustain during the coming period due to the increasing population base of geriatric patients, increasing prevalence of injuries, increasing medical device sales and growing number of orthopedic procedures. Europe has the second highest share in the market and is anticipated to maintain its place over the coming period. Asia Pacific is anticipated to be the rapidly growing region with specific emphasis on South Korea, Malaysia, China, and India. The drivers for the profitable growth in the region are attributed to the rising disposal income of people, increasing expenditure power of the patients over healthcare, rising medical tourism to these nations, and growing awareness level of the patients.
Major players overwhelming the ortho biological products business sector are Bioventus, Pioneer Surgical Technology, Baxter International, Inc., Smith and Nephew Plc, DePuySynthes, Inc., Allograft Tissue Systems, Bone Biologics, Inc., Integra Life Sciences Corp., Bone Solutions, Inc., Sanofi, Tissue Banks Osiris Therapeutics, Inc., International, Medtronic, Inc., Berkeley Advanced Biomaterials, Inc., Globus Medical, Tissue Genesis, Inc., Stryker Corp, and others. Acquisition, product launches are the major strategies which are followed the by companies.
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