The main players in the orthobiological devices and equipment market are Medtronic, Arthrex Inc., DePuy Synthes (a subsidiary of Johnson & Johnson), Stryker Corporation and Zimmer Biomet. The global market for orthobiological devices and equipment is expected to grow by $ 5.
New York, May 4, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Orthobiologics Devices and Equipment Global Market Report 2021: COVID 19 Impact and Recovery to 2030” – https://www.reportlinker.com/p06067910/?utm_source=GNW
$ 23 billion in 2020 to $ 5.98 billion in 2021 at a compound annual growth rate (CAGR) of 14.3%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that have resulted in operational challenges. The market is expected to reach $ 7.85 billion in 2025 with a CAGR of 7%.
The orthobiological devices and equipment market consists of the sale of orthobiological devices and equipment.Orthobiological devices are implants composed of cells and proteins naturally present in the human body that allow accelerated healing by stimulating the effective regrowth of musculoskeletal tissue , especially bones, cartilage, tendons and ligaments.
They are made up of tissue and bone replacement material used for the recovery of ligaments, tendons, muscles and bones. Orthobiological devices and equipment include demineralized bone matrix, synthetic and synthetic bone substitute, bone marrow suction concentrate, and viscosupplementation.
Regulatory changes are likely to lead to increased costs related to the development of new products and the supply of orthobiological devices.These changes are related to the protection of customer data such as the General Data Protection Regulation (GDPR ) of the European Union, changes in equipment approval procedures and other regulatory changes. .
The GDPR regulation is an EU law on the protection of data and the privacy of persons residing in the European Union and in the European Economic Area (EEA). It also regulates the export of personal data outside of EU and EEA areas.
Additionally, the FDA is requesting more clinical data to support claims, increasing processing time for 510 (k) s by more than 55% over the past decade. In November 2017, the USFDA announced a framework comprehensive regenerative medicine policy to facilitate innovation.
This policy deals with the manufacture of tissues, human cells, and cell and tissue products, other procedures to prevent the introduction, transmission and spread of communicable diseases. Orthobiologicals such as stem cell therapies are approved in this context. The potential loss of revenue due to delays in bringing the product to market, additional costs caused by time-consuming approval processes and changing regulations are weighing on investments related to the development of orthobiological devices.
Biodegradable implants are increasingly used in orthobiological treatment and orthopedic trauma surgeries.Biodegradable implants are used to replace missing biological structure, support damaged biological structure and improve existing bone structure.
Biodegradable products such as reabsorbable polymers composed of polyglycolic acid and polylactic acid made in the form of plates, screws and pins replace traditional devices like plates and screws which are more expensive. Surgeons prefer implants biodegradable to replace conventional implants because biodegradable Implants can be designed to provide temporary support for bone fractures, can degrade at a rate corresponding to the formation of new tissue, eliminate the need for a second surgery and very useful for fixing fractures in children with fewer implant-related infections.
For example, Stryker Corp. offers orthobiological products such as biodegradable bone repair products which are used in bone regeneration and bone healing, soft tissue regeneration and muscle connection to bone.
The aging demographic profile of most countries has contributed to the growth of the global orthobiological devices and equipment market, according to the United Nations report, there were 962 million people over the age of 60 across the world, or 13 % of the world’s population.
The population over the age of 60 is expected to grow at a rate of around 3% per year. The report further estimates that Europe has the highest percentage of the population over the age of 60.
The number of people over 65 worldwide has increased by 33%, according to estimates based on data from the Population Reference Bureau. The increase in the aging population has increased the patient pool of many orthopedic disorders and has led to increased demand for the orthobiological devices and equipment market.
The increasing incidence of post-surgical complications in patients implanted with orthobiological devices is one of the major constraints in the orthobiological devices and equipment market.Surgical procedures with grafts, implants and orthobiological devices have become increasingly common. these last years.
Major postoperative complications include device failures, bleeding, postoperative infections, immune responses, and rejections.These procedures can develop postoperative complications which refer to the development of any unwanted or unexpected condition related to the device, the transplant, or to the implant.
These complications may vary depending on the type of procedure, implant, graft or device, the experience of the surgeon, incorrect testing procedures of the device prior to market launch, the location of the device in the body, and the health and biological response of the individual. Growing postoperative complications and device failures may constrain the market for orthobiological devices and equipment.
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