Medi-Tech Insights: Rising cases of sports injuries and traffic accidents, increasing geriatric and obese population globally, growing number of people suffering from arthritis and other spinal related disorders, growing patient preference for minimally invasive procedures, and progress mechanics in biomaterials are some of the key factors driving the growth of the global orthobiology market.
BRUSSELS, BELGIUM, Nov. 16, 2022 (GLOBE NEWSWIRE) —
Orthobiological employs biomaterials and cell therapies to rapidly heal musculoskeletal injuries and support tissue healing and restoration through its regenerative potential. These products are derived from components naturally found in the body and dynamically interact with the musculoskeletal system to facilitate the healing of diseased or injured bones, cartilage, ligaments, and meniscus and tendons.
Technological Aprogress in ORorthobiological Market to Fuel his Global market dissue
Constant advances in orthobiology have enabled the development of efficient products with advanced patient healing capabilities and increased applications, among others. Such advances tend to provide a competitive edge to all global manufacturers and therefore, all major players continuously focus on investing in research activities for new product development and expanding their geographical reach to strengthen their position in the horticultural market. Some of the technological advances are listed below:
- In June 2022, Istos Biologics launched the Influx Fibrant line of 100% cortical allograft products featuring patented TheraCell technology and designed to promote patient healing.
- In March 2022, Sea thorn launched new orthobiology products: NorthStar Cervical Facet Fusion and Flash Navigation Lumbar Facet Fusion, aiming to streamline reproducible procedural workflow while maximizing the area for fusion.
- As of September 2020, Cerapedia received approval for its i-FACTOR+ Matrix Bone Graft from Health Canada. This next-generation bone graft is based on the cell-binding osteogenic peptide P15 that supports bone growth through the attraction, attachment, and activation of cells.
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Key S growthstrategies Aadopted by Guide Mmarket Players operating in Horticultural market
The major market players working in the global Horticulture market have adopted the acquisition and partnership as their key growth strategy to expand their product offerings, enhance their geographical presence and distribution capabilities, and to jointly develop advanced products . Some of these developments are listed below-
- In August 2022, Orthofix Medical Inc. has entered into a strategic partnership with CGBio, a developer of synthetic bone grafts, to co-develop and commercialize Novosis’ recombinant human bone morphogenetic protein 2 (rhBMP-2) bone growth materials and other tissue regeneration solutions for Canadian and US markets.
- In July 2021, Cellularity Inc. And Artrex, Inc. entered into a supply and distribution agreement to distribute and commercialize multiple products, including Celularity’s placental-derived biomaterials for orthopedics and sports medicine in the United States.
- In March 2021, Sea Spine Holdings Corporation entered into an agreement to acquire 7D Surgical, Inc., a Canadian-based medical device company. This acquisition aimed to combine the spinal implant and orthobiology portfolios to advance spine surgery.
Regardless of the market challenges, such as unfavorable payback scenario and price pressure on market players, the global orthobiological market is growing strongly and is expected to gain further momentum in the coming years due to a heavy emphasis on the blending segment spinal, focus on demineralized bone mastics with excipients, increased use of viscosupplements and innovations that address the entire procedure, among others.
For example, during the forecast period, the viscosupplement segment is expected to be led by advances in hyaluronic acid-based therapies, increasing prevalence of lifestyle-induced disorders, high efficacy in delaying total replacement procedures of the knee and the growing preference for non-surgical treatments for osteoarthritis. Furthermore, conventional techniques such as autograft and allograft are difficult to manage, painful for the patient, have quite mixed outcomes, and may require repeat surgeries. Therefore, a more user-friendly solution is likely to be accepted by physicians and healthcare professionals that has a higher medical and financial success rate, providing opportunities for market players in this space.
Competitive landscape analysis: Horticultural market
The global orthobiology market is characterized by the presence of established market players such as Medtronic Plc (Ireland); Zimmer Biomet Holdings, Inc. (United States); Arthrex, Inc. (United States); Bioventus (USA); DePuy Synthes (Johnson & Johnson Services, Inc.) (USA); Stryker Corporation (USA); MTF Biologics (USA); and other.
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