Understand How The Orthobiologics Devices And Equipment Market Is Poised To Grow Through 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
As per The Business Research Company’s Orthobiologics Devices And Equipment Global Market Report 2023, the orthobiologics devices and equipment market is expected to show significant growth in the forecast period.
Key insights from the orthobiologics devices and equipment market forecast include:
- Market Size
The global orthobiologics devices and equipment market is expected to grow from $4.86 billion in 2022 to $5.29 billion in 2023 at a compound annual growth rate (CAGR) of 8.9%. The market size of global othobiologics devices and equipment is expected to grow from $6.85 billion in 2027 at a CAGR of 6.7%.
- Major Driver
The global orthobiologics market is expanding due to aging populations. United Nations data shows 962 million people aged over 60, comprising 13% of the world population. This demographic is expected to grow at a 3% annual rate. Europe has the highest percentage of seniors. Globally, the number of people aged over 65 increased by 33%, according to Population Reference Bureau estimates. The rising aging population amplifies patient numbers with orthopedic conditions, driving orthobiologics demand.
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- Key Trend
Regulatory shifts may increase costs for orthobiologics development and supply. These changes encompass data protection like GDPR, equipment approvals, and others. GDPR safeguards individual data in the EU and EEA, also regulating data export. FDA now requires more clinical data, lengthening 510(k) processing time by 55% in a decade. In 2017, USFDA introduced a regenerative medicine policy for tissues, cells, and products. Delays, added expenses, and evolving rules strain orthobiologics investment.
- Largest Region
North America was the largest region in the global orthobiologics devices and equipment market in 2022.
- Major Players
Major players in the food diagnostics market are Medtronic, Arthrex Inc., DePuy Synthes (A Subsidiary of Johnson & Johnson), Stryker Corporation, Zimmer Biomet, Bioventus LLC., Baxter International Inc., Integra Lifesciences Holding Corporation, Nuvasive Inc., and Sanofi.
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Key Orthobiologics Devices And Equipment Market Segments
The global orthobiologics devices and equipment market is segmented –
1) By Product Type: Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cell Therapy, Plasma-Rich Protein, Viscosupplementation, Bone Morphogenetic Protein, Synthetic Orthobiologics
2) By Application: Osteoarthritis and Degenerative Arthritis, Soft-Tissue Injuries, Fracture Recovery, Maxillofacial and Dental Applications, Spinal Fusion, Trauma Repair, Reconstructive Surgery
3) By End Use: Hospitals, Orthopedic Clinics, Other End Users
The Orthobiologics Devices And Equipment Global Market Report 2023 provides an in-depth analysis on the orthobiologics devices and equipment market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the orthobiologics devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
Orthopedic Biomaterials Global Market Report 2023
Orthopedic Devices Global Market Report 2023
Orthopedic Braces And Support Devices And Equipment Global Market Report 2023
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