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25 June 2011
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The global orthobiologics market was valued at $4.3 billion in 2009, and is forecast to reach $9.6 billion in 2016, which represents a compound annual growth rate (CAGR) of 12%. Bone graft substitutes will remain the largest segment in the market, with a value of $5.3 billion by 2016. Growth in the market is primarily being driven by the increasing incidence of arthritis, an increasingly elderly population, and higher obesity rates. Globally, about 350 million people have arthritis, and more than half of those with arthritis, are under 65 years of age. Also, advances in technology, such as the development of nanotechnology coatings for use in wear-resistant orthopedic devices, and injectable bones, which are biodegradable and can fill any cavity shape, taking on similar characteristics to normal bone, are expected to drive the market in the near future.
The US Remains the Largest Orthobiologics Market, Driven by Increasing Patient Awareness and Active Lifestyles Leading to Higher Numbers of Injuries
The US orthobiologics market was valued at $2.3 billion in 2009, and is expected to reach $6 billion in 2016, which represents a CAGR of 15% for the period. The US remains the largest orthobiologics market in the world, accounting for more than 50% of the global orthobiologics market in 2009. The orthobiologics market in the US going forwards is expected to be driven by patient demographics, the development of novel product designs, increasing patient awareness, increasing participation in sports related activities, and a rising incidence of road accidents.
Increasing Incidence of Arthritis and Other Orthopedic Diseases to Drive the Market
The incidence of arthritis has been growing steadily, mainly due to an increase in obesity rates and an increase in the population over the age of 65. Studies have shown that more than 50% of people over 65 years of age, go on to develop osteoarthritis, and worldwide, 350 million people have arthritis. According to the US Centre of Disease Control (CDC), 47.8 million people in the US were affected by some form of arthritis during 2005. It is projected that by 2030, physician-diagnosed arthritis will reach 67 million, or 25% of the adult population. Also, the prevalence of back pain is increasing, and is estimated to be highest among middle aged individuals, between 30 to 50 years old. The annual incidence of lower back pain in the US and Europe is approximately 5% of the total population. Worldwide, 200 million people are at risk of a fragility fracture, and 40% of women and 14% of men older than 50 years, will experience a fragility fracture.
Numbers suffering from orthopedic diseases are expected to grow in developing countries, due to people leading more sedentary lives, changes in diet, and urbanization, which all lead to increasing obesity rates, and ultimately to arthritis and other orthopedic diseases. Obesity rates have increased globally over the past few decades, with currently more than one billion adults overweight worldwide, and at increased risk of developing arthritis.
Technological Advances Leading to the Introduction of Improved Products to Drive the Orthobiologics Market
The orthobiologics product pipeline is strong, with about 134 products making their way to market. These products are aimed at reducing rejection rates, stimulating the growth of bone and improving patient outcomes. The advantages offered and the simplicity in use of many of these pipeline products, is expected to increase their uptake. Nanotechnology will be the key driver of growth in the orthobiologics market in the near future.
There are products in the pipeline which have nanotechnology coatings, for use in wear-resistant orthopedic devices, specifically for spinal implants. Due to this coating, the products offer a higher level of durability, thus increasing demand for them. Also, companies are developing injectable bones which are biodegradable, and are able to stabilize fractured bones, offering superior strength, rapid setting and mouldable properties.
Products offering greater durability, reductions in inflammation, and which improve the quality of life, are expected to drive future demand for orthobiologics.
Medtronic, Genzyme and Depuy with a Combined Market Share of Nearly 40%, Dominate the Global Orthobiologics Market
The global orthobiologics market was dominated by Medtronic, Genzyme and Depuy, which together accounted for nearly 40% of the total market in 2009. Medtronic is the market leader, with a 19% share in 2009. Medtronic's InFUSE bone graft was its major revenue generator in the orthobiologics market during the first quarter of 2009. Genzyme was the second largest company, with a market share of 11%, followed by Depuy with 10%. Synvisc-One, the only single-injection viscosupplement for osteoarthritic knee pain approved in the U.S., was the major revenue generator for Genzyme in 2009.
This report provides key data, information and analysis on the Orthobiologics industry and analytical content on the market dynamics. The report provides market landscape, competitive landscape and market trends information on Orthobiologics industry . The report provides comprehensive information on the current practices and trends in the Orthobiologics industry. The report also reviews the competitive landscape, and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by our team of industry experts.
- Key geographies covered include the US, Canada, the UK, Germany, France, Italy, Spain, Japan, China, India, Australia, and Brazil.
- Market size and company share data for Orthobiologics.
- Annualized market revenues data from 2002 to 2009, forecast forward for 7 years to 2016. Company shares data for 2009..
- Qualitative analysis of key market trends, market drivers, and restraints by each category within the Orthobiologics market.
- The report also covers information on the leading market players, the competitive landscape, and the leading technologies.
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- Make more informed business decisions from the insightful and in-depth analysis of the global Orthobilogics market and the factors shaping it.
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