The global Orthopedic Regenerative Surgical Products Market size
is anticipated to reach USD 5.6 billion by 2030, according to a new report by
Grand View Research, Inc. The market is expected to expand at a notable CAGR of
3.9% from 2022 to 2030. 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 the company’s revenue and
operating results. However, both companies expect recovery financial
performance as elective surgeries resumes 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
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 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 over 42.0% in 2021 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 4.1% owing to growing
applications in sports medicine, geriatric patients, and the incidence of
trauma cases
- 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 over
49.0% in 2021
- 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
- Market players are involved in the implementation of strategic
initiatives, including R&D, product development and launches, regional
expansion, and expansion of distribution network
- In January 2021, Stryker acquired OrthoSensor, Inc., a private
company that specializes in musculoskeletal care and sensor technology
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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