Orthopedic Regenerative Surgical Products Market Size Is Expected To Reach USD 5.2 Billion By 2028

 San Francisco, 20 Sep 2021: The Report Orthopedic Regenerative Surgical Products Market Size, Share & Trends Analysis Report By Product (Allograft, Synthetic, Cell-based, Viscosupplements), By Application, By End User (Hospitals, Ambulatory Surgical Centers), And Segment Forecasts, 2021 - 2028

The global orthopedic regenerative surgical products market size is anticipated to reach USD 5.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a notable CAGR of 3.6% from 2021 to 2028. 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.

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 on the company’s revenue and operating results. However, both companies expect recovery financial performance as elective surgeries resume 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 the 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 the market growth.

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.

Access Research Report of Orthopedic Regenerative Surgical Products Market @ https://www.grandviewresearch.com/industry-analysis/orthopedic-regenerative-surgical-products-market-report

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 42.7% in 2020 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 3.8% followed by trauma repair and orthopedic pain management
• According to a 2019 study on Cartilage Restoration Surgerypublished 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 50.4% in 2020
• 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

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

Access Press Release of Orthopedic Regenerative Surgical Products Market @ https://www.grandviewresearch.com/press-release/global-orthopedic-regenerative-surgical-products-market