New York, May 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Orthobiologics Devices And Equipment Global Market Report 2022” – https://www.reportlinker.com/p06277231/?utm_source=GNW
The global orthobiologic devices and equipment market is expected to grow from $3.69 billion in 2021 to $4.02 billion in 2022 at a compound annual growth rate (CAGR) of 8.9%. The market is expected to reach $5.32 billion in 2026 at a compound annual growth rate (CAGR) of 7.2%.
The orthobiologic devices and equipment market consists of the sale of orthobiologic devices and equipment. Orthobiologic devices are implants composed of cells and proteins naturally present in the human body that allow accelerated healing by stimulating effective regrowth of musculoskeletal tissues, including bones, cartilage, tendons and ligaments. .
They consist of tissues and bone replacement materials used for the recovery of ligaments, tendons, muscles and bones.
The main product types of orthobiologic devices and equipment are demineralized bone matrix, synthetic bone substitutes, stem cell therapy, plasma-rich protein, viscosupplementation, bone morphogenetic protein, and synthetic orthobiologics. Stem cell therapy promotes the repair response of diseased, dysfunctional, or damaged tissues using stem cells or their derivatives.
The various applications involved are osteoarthritis and degenerative arthritis, soft tissue injury, fracture recovery, maxillofacial and dental applications, spinal fusion, trauma repair and reconstructive surgery which are used by various end users such as hospitals, orthopedic clinics, etc.
North America was the largest region in the orthobiologic devices and equipment market in 2021. Western Europe was the second largest region in the orthobiologic devices and equipment market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The aging demographic profile of most of the countries has contributed to the growth of the global orthobiologic appliances and equipment market. According to the United Nations report, there were 962 million people over the age of 60 in the world, or 13% of the world’s population.
The population over the age of 60 is expected to grow at a rate of about 3% each year. The report further estimates that Europe has the highest percentage of the population aged over 60.
The number of people over the age of 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 number of patients with many orthopedic disorders and has led to an increase in the demand for orthobiologic devices and equipment in the market.
The increasing incidence of post-surgical complications in patients implanted with orthobiologic devices is one of the major restraints of the orthobiologic devices and equipment market. Surgical procedures with grafts, implants, and orthobiologic devices have become increasingly common in recent years.
Major postoperative complications include device failures, bleeding, postoperative infections, immune responses, and rejection. These procedures may develop postoperative complications which refer to the development of any undesirable or unexpected condition related to the device, graft or implant.
These complications can vary depending on the type of procedure, implant, graft or device, the experience of the surgeon, improper device testing procedures before market launch, the location of the device in the body and the health and the biological response of the individual. Rising postoperative complications and device failures may limit the market for orthobiologic devices and equipment.
Biodegradable implants are increasingly used in orthobiological treatments and traumatic orthopedic 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 manufactured as plates, screws and pins are replacing traditional devices like plates and screws which are more expensive. Surgeons prefer biodegradable implants to conventional implants because biodegradable implants can be designed to provide temporary support for bone fractures, can degrade at a rate consistent with the formation of new tissue, eliminate the need for a second surgery, and are very useful for fracture fixation in children with fewer implant-related infections.
For example, Stryker Corp. offers orthobiologic products such as biodegradable bone repair products which are used in bone regeneration and bone healing, soft tissue regeneration and muscle connection to bone.
Regulatory changes are likely to lead to increased costs related to the development of new products and the supply of orthobiologic devices. These changes are related to the protection of customer data, such as the European Union’s General Data Protection Regulation (GDPR), changes to equipment approval procedures and other regulations. changes.
GDPR is an EU law on the data protection and privacy of individuals residing in the European Union and the European Economic Area (EEA). It also regulates the export of personal data outside of EU and EEA areas.
Additionally, the FDA is asking for more clinical data to support claims, increasing 510(k) processing times by more than 55% over the past decade. In November 2017, the USFDA announced a comprehensive Regenerative Medicine Policy Framework to Facilitate Innovation.
This policy addresses the manufacture of tissues, human cells, and cell and tissue-based products, as well as other procedures to prevent the introduction, transmission, and spread of communicable diseases. Orthobiologics such as stem cell therapies are approved under this. The potential loss of revenue due to product release delays, additional costs incurred from time-consuming approval processes, and changing regulations weigh on investments related to the development of orthobiologic devices.
The countries covered in the Orthobiological Devices and Equipments market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, United States and Australia.
Read the full report: https://www.reportlinker.com/p06277231/?utm_source=GNW
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