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SOURCE Research and Markets
DUBLIN, January 16, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/ql5c3g/orthobiologics) has announced the addition of the "Orthobiologics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" report to their offering.
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Orthobiology is a branch of science that develops bone and tissue replacement materials for fast healing and quick recovery of injured muscles, broken bones, ligaments and tendons. Orthobiologics is considered as a highly lucrative market owing to significant growth opportunities. One of the major driver for the growth of this industry is certain limitations that are associated with autografts and allografts. Although, autografts are considered as gold standard for orthopedic procedures but the usage of autograft involves donor site morbidity and an additional surgery. While, the major concerns associated with allografts is risk of disease transmission along with the decline in their availability. Therefore, in order to overcome these drawbacks of the autografts and allografts, bone graft substitutes are being preferred for use in orthopaedic surgery.
According to the American Academy of Orthopedic Surgeons (AAOS), approximately 465,000 spinal surgeries were performed in the U.S in 2011. Of all the spinal fusion surgeries performed, 46% were for lumbar fusion, 42% were for cervical fusion and the remaining 13% were for thoracic or multi-level fusion procedures. This rise in number of spinal fusion surgeries has created the demand for bone graft substitutes and has consequently boosted the overall growth of this industry. In addition, rise in the incidence of arthritis, increase in geriatric population and increase in obesity rate has triggered the growth of this market. Technological advancements, growing demand for minimally invasive procedures and rising patient awareness are the other factors that has considerably augmented the growth of this market. The global orthobiologics market was valued at USD 3,754.6 million in 2012 and is expected to grow at a CAGR of 5.9%from 2013 to 2019 to reach at an estimated value of USD 5,519.9 million in 2019.
At present, viscosupplementation accounts for the largest share of the orthobiologics market. The growth in this market is attributed to growing popularity of knee treatments and its ability to act as an effective pain killer as compared to NSAIDS and others. This market is followed by bone morphogenetic proteins (BMPs) which is characterized by its ability to provide faster recovery, lesser pain and ability to stimulate patients own cells for regeneration. However, the market is expected to show a negative growth rate during the forecast period due to decline in the sales of 'INFUSE' a Medtronic product. Severe side effects associated with INFUSE due to its heavy off label usage led to recall of this product by the U.S FDA.
Key Topics Covered:
2 Executive Summary
3 Market Overview
4 Global Orthobiologics Market, by Product
5 Global Orthobiologics Market, by Application
6 Global Orthobiologics Market, by Geography
7 Global Orthobiologics Market Share Analysis
9 Company Profiles
For more information visit http://www.researchandmarkets.com/research/ql5c3g/orthobiologics
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