Market Size of Regenerative Orthopedic Surgical Products worth $ 5.2 Billion by 2028: Grand View Research, Inc.

SAN FRANCISCO, August 11, 2021 / PRNewswire / – The World regenerative orthopedic surgery products market the size is planned to reach $ 5.2 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected will increase at a notable CAGR of 3.6% from 2021 to 2028. The key factors driving the growth of the market include growing geriatric population, orthopedic procedures, research activity, and technological advancement. Osteoarthritis, for example, has been identified as the leading cause of chronic disability in the geriatric population over 70 years of age. 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.

Main lessons and findings:

  • Key factors driving the market include aging population across the globe and increasing prevalence of orthopedic diseases. According to a 2019 review article published in the Elderly Health Journal, the prevalence of osteoarthritis of the knee in various Asian countries is in the range of 13.1% to 71.1%.
  • The viscosupplementation segment dominated the market and accounted for the largest revenue share of 42.7% in 2020 due to the increasing prevalence of osteoarthritis and associated symptoms and product availability.
  • Monovisc and Orthovisc from Anika Therapeutics have been the leading products in the viscosupplement market in the United States since 2018, based on overall combined sales
  • In terms of application, the cartilage and tendon repair segment is estimated to experience 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 increased over the past 2 decades. The results also indicated a paradigm shift towards osteochondral graft procedures and other more complex cartilage procedures.
  • As most orthopedic procedures are performed in a hospital setting, the hospital segment held the highest revenue share of 50.4% in 2020
  • Drivers include a large number of populations affected by joint pain and other debilitating orthopedic conditions and supporting initiatives from governments and regulatory bodies. For example, October 12 has been designated World Arthritis Day by Arthritis & Rheumatism International (ARI) to raise awareness of rheumatic and musculoskeletal diseases.

Read the 150-page market research report, “Orthopedic Regenerative Surgical Products Market Size, Share and Trend Analysis Report by Product (Allogeneic, Synthetic, Cell-Based, Viscosupplementations), by Application, by End User (Hospitals, Outpatient Surgical Centers) and Segment forecast, 2021-2028“. By Grand View Research

Market growth has been limited during the COVID-19 pandemic due to delayed elective surgeries, low volume of patient flow for chronic diseases in clinics and hospitals, decreased sales and marketing activities, quarantine and lockdown protocols and low demand. Vericel Corporation, for example, reported the negative impact of COVID-19 on its business and operations in 2020. The company recorded cancellations of scheduled MACI procedures; its key product used in the repair of cartilage damage to the knee. In addition, there has been a slowdown in new orders. Anika Therapeutics has reported problems recruiting patients for its clinical trials due to the pandemic, which has negatively impacted the company’s revenue and operating results. However, both companies expect a rebound in financial performance as elective surgeries pick up from pre-COVID numbers.

According to the Centers for Disease Control and Prevention (CDC), about 26% (or 78 million) of American adults will have arthritis by 2040.. The prevalence increases with age and is more common in women. Obesity has been identified as another risk factor contributing to orthopedic conditions. The prevalence of obesity in the United States was estimated at 42.4% from 2017 to 2018 by the CDC. Rising prevalence of orthopedic diseases, obesity, and geriatric population is expected to fuel the market growth. Orthopedic regenerative surgical products find application in a variety of conditions of varying severity ranging from joint pain, gout, joint defects, fibromyalgia and osteoarthritis, trauma and joint replacement, which is expected to contribute to the market growth.

Market players are also involved in research and development activities to launch new regenerative solutions for the treatment or pain relief of orthopedic conditions. Amniox Medical, Inc., for example, has received FDA clearance to conduct a dosing study using TTAX03 – its new investigational drug (IND) comprising a cryopreserved amniotic membrane and umbilical cord, to treat pain in the neck. osteoarthritis of the facet joints in March 2021. On the other hand, Zimmer Biomet offers a comprehensive portfolio of allografts and synthetic orthopedic regeneration products such as the PrimaGen Advanced allograft, InterGro DBM and the bioresorbable bone graft substitute PlatFORM.

Grand View Research has segmented the Regenerative Orthopedic Surgery product market on the basis of product, application, end user, and region:

  • Orthopedic Regenerative Surgical Product Outlook (Revenue, USD Million, 2016 – 2028)
    • Allograft
    • Synthetic
    • Cell-based
    • Viscosupplements
  • Orthopedic Regenerative Surgical Products Application Outlook (Revenue, USD Million, 2016 – 2028)
    • Orthopedic pain management
    • Trauma repair
    • Repair of cartilage and tendons
    • Joint reconstruction
    • Others
  • Regenerative Orthopedic Surgical Products End User Outlook (Revenue, USD Million, 2016 – 2028)
    • Hospitals
    • Ambulatory surgery centers
    • Others (Specialized orthopedic centers, Clinics)
  • Regenerative Orthopedic Surgical Products Regional Outlook (Revenue, USD Million, 2016 – 2028))
    • North America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
    • Asia Pacific
    • Latin America
    • AEM
      • South Africa
      • Saudi Arabia

List of Major Players in Orthopedic Regenerative Surgical Products Market

  • Anika Therapeutics, Inc.
  • Vericel Corporation
  • Vericel Corporation
  • Zimmer Biomet
  • Stryker
  • Blacksmith + Nephew
  • AlloSource
  • Amniox Medical, Inc.
  • VSY Biotechnology
  • Aptissen SA
  • MiMedx

Discover more studies related to Global medical device industry, conducted by Grand View Research:

  • Stem Cell Market The global stem cell market size is expected to reach $ 18.4 billion by 2028, according to a new report from Grand View Research, Inc. It is expected to register a CAGR of 8.8% during the forecast period.
  • Regenerative Medicine Market The global regenerative medicine market size is expected to reach $ 57.08 billion by 2027, with a CAGR of 11.27% over the forecast period, according to a new report from Grand View Research, Inc.
  • Bone Grafts and Substitutes Market The global market size for bone grafts and substitutes is expected to reach $ 4.3 billion by 2028, according to a new report from Grand View Research, Inc. The market is expected to grow at a CAGR of 5.8% from 2021 to 2028.

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About Grand View Research

Grand View Research, a United States-based market research and consulting company, provides syndicated and personalized research reports and consulting services. Checked in California and headquartered at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports provide in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.

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SOURCE Grand View Research, Inc.


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