The global Orthopedic Regenerative Surgical Products Market size is anticipated to reach USD 5.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 3.6% from 2021 to 2028. Some of the prominent key players are Anika Therapeutics, Inc., Vericel Corporation, Baxter, Zimmer Biomet, Stryker among others. The key factors driving the market growth include the rising geriatric population, orthopedic procedures, research activities, and technological advancements. Osteoarthritis, for instance, has been identified as the leading cause of chronic disability in the geriatric population over the age of 70. The World Health Organization (WHO) has also designated osteoarthritis as a ‘priority disease’ promoting R&D for therapies to treat osteoarthritis and its associated symptoms.
The
growth of the market was restrained during the COVID-19 pandemic due to
deferred elective surgeries, low volume of patient flow for chronic conditions
in clinics and hospitals, decreased sales and marketing activities, quarantine
and lockdown protocols, and low demand. Vericel Corporation, for example,
reported the adverse impact of COVID-19 on its business and operations during
2020. The company registered cancellations of scheduled MACI procedures; its
key product used in the repair of cartilage damage of the knee. In addition,
there was a slowdown in new orders. Anika Therapeutics reported challenges in
patient enrollment for its clinical trials due to the pandemic, which
negatively impacted on the company’s revenue and operating results. However,
both companies expect recovery financial performance as elective surgeries
resume to pre-COVID numbers.
According
to the Centers for Disease Control and Prevention (CDC), about 26% (or 78
million) the U.S. adults are estimated to suffer from arthritis by 2040. The
prevalence increases with age and is found to be more common in women. Obesity
has been identified as another risk factor contributing to orthopedic
conditions. The prevalence of obesity in the U.S. was estimated at 42.4% from
2017 to 2018 by the CDC. The increasing prevalence of orthopedic diseases,
obesity, and geriatric population is expected to fuel the market growth.
Orthopedic regenerative surgical products find application in different
conditions of varying severity from joint pain, gout, articular defects,
fibromyalgia, and osteoarthritis, to trauma and joint replacement, this is
expected to contribute to the market growth.
Market
players are also involved in research and development activities to launch new
regenerative solutions for treatment or pain relief from orthopedic conditions.
Amniox Medical, Inc. for instance, received FDA clearance to proceed with a
dosing study using TTAX03- its Investigational New Drug (IND) comprising
cryopreserved amniotic membrane and umbilical cord, to treat facet joint
osteoarthritis pain in March 2021. Zimmer Biomet on the other hand, offers an
extensive portfolio of allografts and synthetic orthopedic regenerative
products such as the PrimaGen Advanced allograft, InterGro DBM, and PlatFORM
bioresorbable bone graft substitute.
Related Press
Release@ Orthopedic Regenerative Surgical Products Market Report
Orthopedic Regenerative Surgical Products Market Report
Highlights
- Key factors
driving the market include an aging population across the globe and a rise
in the prevalence of orthopedic diseases. According to a 2019 review
article published in the Elderly Health Journal, the prevalence of knee
osteoarthritis in various Asian countries was found to be in a range of
13.1 - 71.1%
- The
viscosupplements segment dominated the market and accounted for the
largest revenue share of 42.7% in 2020 owing to the increasing prevalence
of osteoarthritis and related symptoms and product availability
- Monovisc and
Orthovisc by Anika Therapeutics are the leading products in the
viscosupplement market in the U.S. since 2018, based on combined overall
revenue
- In terms of
application, the cartilage and tendon repair segment is estimated to
witness the fastest CAGR of 3.8% followed by trauma repair and orthopedic
pain management
- According to
a 2019 study on Cartilage Restoration Surgery published
by the National Library of Medicine, complications in cartilage
restoration procedures have been rising for the past 2 decades. The
results also indicated a paradigm shift toward osteochondral grafting
procedures and other more complex cartilage procedures
- As most
orthopedic procedures are performed within hospital settings, the
hospitals segment held the largest revenue share of 50.4% in 2020
- Drivers
include a large number of populations affected by joint pain and other
debilitating orthopedic conditions and supportive initiatives by
governments and regulatory bodies. For example, 12 October was established
as the World Arthritis Day by the Arthritis and Rheumatism International
(ARI)to raise awareness about rheumatic and musculoskeletal diseases
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