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.
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
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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.
Orthopedic Regenerative Surgical Products Market Insights By Region:
North America dominated the orthopedic regenerative surgical products market and held the largest revenue share of over 41.0%. This can be attributed to the presence of key players, an aging population, and technologically advanced healthcare facilities in the U.S. and Canada. In the Asia Pacific, the market for orthopedic regenerative surgical products is estimated to witness the fastest CAGR of 5.3% during the forecast period. This is owing to developing healthcare infrastructure, regional expansion by key players, and the rising prevalence of orthopedic disorders such as osteoarthritis.
Markey Analysis By Key Players:
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. Some of the prominent players in the orthopedic regenerative surgical products market include:
- Anika Therapeutics, Inc.
- Vericel Corporation
- Baxter
- Zimmer Biomet
- Stryker
- Smith & Nephew
- AlloSource
- Amniox Medical, Inc.
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Orthopedic Regenerative Surgical Products Market Segmentation
Grand View Research has segmented the global orthopedic regenerative surgical products market based on product, application, end-use, and region:
Orthopedic Regenerative Surgical Product Outlook (Revenue, USD Million, 2017 – 2030)
- Allografts
- Amniotic Products
- Others
- Synthetic
- Cell-based
- Viscosupplements
Orthopedic Regenerative Surgical Products Application Outlook (Revenue, USD Million, 2017 – 2030)
- Orthopedic Pain Management
- Trauma Repair
- Cartilage & tendon repair
- Joint reconstruction
- Others
Orthopedic Regenerative Surgical Products End-use Outlook (Revenue, USD Million, 2017 – 2030)
- Hospitals
- Ambulatory Surgical Centers
- Others
Orthopedic Regenerative Surgical Products Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- S.
- Canada
- Europe
- K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Orthopedic Regenerative Surgical Products Market
- Anika Therapeutics, Inc.
- Vericel Corporation
- Baxter
- Zimmer Biomet
- Stryker
- Smith & Nephew
- AlloSource
- Amniox Medical, Inc.
- VSY Biotechnology
- Aptissen S.A.
- MiMedx
- Arthrex, Inc
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives.