The Largest Segment Driving The Growth Of Orthobiologics Market
SWOT Analysis
Strength: Wide range of product offerings for bone healing and tissue regeneration. Weakness: High costs associated with R&D and production of orthobiologics. Opportunity: Untapped growth potential in developing regions. Threats: Stringent regulatory framework and reimbursement issues pose challenges.
Key Takeaways
The Global Orthobiologics Market Size was valued at US$ 6899.6 Mn in 2023 and is expected to exceed US$ 11600 Mn by 2030, expanding at a CAGR of 5.9% during the forecast period. The growing geriatric population suffering from orthopedic diseases and rising number of sports injuries are driving the market.
Regional analysis: North America dominated the orthobiologics market in 2023 with over 35% market share. However, Asia Pacific exhibits high growth potential due to rising healthcare expenditure and increasing focus on tissue engineering and regenerative medicine in countries like China and India.
Key players: Key players operating in the orthobiologics market are Zimmer Biomet, Bone Biologics Corp., Globus Medical, Smith & Nephew Inc., Stryker, ATEC Spine, Inc., XTANT MEDICAL, Johnson & Johnson Services, Inc., Exactech, Inc., Integra LifeSciences, Medtronic, NuVasive, Inc., Orthofix US LLC., SeaSpine, ChitogenX Inc., Spine Wave, Inc., Molecular Matrix, Inc., Isto Biologics, Baxter, Locate Bio Limited, Cerapedics, Ossifix Orthopedics, and Aziyo.
Read More - https://www.articledistrict.com/growth-of-the-orthobiologics-market/
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