Medi-Tech Insights: Increase in cases of sports injuries and road accidents, increase in the geriatric and obese population worldwide, growing number of people with arthritis and other spine-related disorders, preference increasing number of patients for minimally invasive procedures and mechanical advances in biomaterials. key factors driving the growth of the global orthobiologics market.
BRUSSELS, BELGIUM, Nov. 16, 2022 (GLOBE NEWSWIRE) —
Orthobiologics uses biomaterials and cellular therapies to rapidly heal musculoskeletal injuries and support tissue healing and restoration through their regenerative potential. These products are derived from compounds found naturally in the body and interact dynamically with the musculoskeletal system to facilitate the healing of diseased or injured bones, cartilage, ligaments and menisci and tendons.
Technological Aprogress in Orthobiological Market at Fuel his World Market Dmother
Steady advancements in orthobiology have resulted in the development of effective products with advanced patient healing capabilities and increased applications, among others. Such advancements tend to provide a competitive edge to all the global manufacturers and hence all the major players continuously focus on investing in research activities for new product development and expansion of their reach. to strengthen their position in the orthobiologics market. Some of the technological advancements are listed below:
- In June 2022, Organic products from Istos launched the Influx Fibrant line of 100% cortical allograft products featuring patented TheraCell technology and designed to advance patient healing.
- In March 2022, sea thorn launched new orthobiologic products – NorthStar Cervical Facet Fusion and Flash Navigation Lumbar Facet Fusion, with the goal of streamlining repeatable procedural workflow while maximizing fusion area.
- In September 2020, Cerapedia has received Health Canada approval for its i-FACTOR+ Matrix bone graft. This next-generation bone graft is based on the osteogenic cell-binding peptide P15 which supports bone growth through cell attraction, attachment and activation.
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Key S-growthtreaties Aadopted by Leading Mmarket Players operating in Orthobiologics market
Major market players working in the global orthobiologics market have embraced acquisition and partnership as a key growth strategy to expand their product offerings, enhance their geographic presence and distribution capabilities, and co-develop advanced products. Some of these developments are listed below-
- In August 2022, Orthofix Medical Inc. has entered into a strategic partnership with CGBio, a developer of synthetic bone grafts, to co-develop and commercialize Novosis’s recombinant human bone morphogenetic protein 2 (rhBMP-2) bone growth materials and other tissue regeneration solutions for the Canadian and American markets.
- In July 2021, Cellularity Inc. and Arthrex, Inc.. entered into a supply and distribution agreement for the distribution and commercialization of several products, including Celularity’s placenta-derived biomaterials products for orthopedics and sports medicine in the United States.
- In March 2021, SeaSpine Holdings Corporation has entered into an agreement to acquire 7D Surgical, Inc., a Canadian medical device company. This acquisition was intended to combine the spinal implant and orthobiologics portfolios to advance spine surgery.
Irrespective of the market challenges such as unfavorable reimbursement scenario and pricing pressure on market players, the global orthobiologics market is growing fast and is expected to gain momentum in the coming years owing to a focus on the spinal fusion segment, demineralized bone sealants with excipients, the increasing use of viscosupplements, and whole-procedure innovations, among others.
For example, during the forecast period, the viscosupplements segment is expected to be driven by advances in hyaluronic acid therapies, rising prevalence of lifestyle-induced disorders, high efficacy in delaying procedures for total knee replacement and the growing preference for non-surgical treatments. for osteoarthritis. Moreover, conventional techniques such as autograft and allograft are difficult to manage, painful for the patient, have quite contrasting results and may require repeated surgeries. Therefore, an easier-to-use solution is likely to be accepted by physicians and healthcare providers which has a higher success rate from a medical and financial standpoint, providing opportunities for market players in this space.
Competitive landscape analysis: Orthobiologics market
The global orthobiologics market is marked by the presence of established market players such as Medtronic Plc (Ireland); Zimmer Biomet Holdings, Inc. (USA); Arthrex, Inc. (USA); Bioventus (United States); DePuy Synthes (Johnson & Johnson Services, Inc.) (USA); Stryker Corporation (USA); MTF Biologics (USA); and others.
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