09.22.11
According to a new report from Global Data the global ortholbiologics market is poised for significant growth.
The market was valued at $4.8 billion in 2010, and is forecast to grow at a compound annual growth rate (CAGR) of 6.8 percent to reach $7.6 billion in 2017. As reasons for growth, the report cites a rapid increase in the elderly population, an increase in the prevalence of arthritis, technological innovations, increasing numbers of spinal fusion surgeries and the increase in the trend of medical tourism.
The U.S. orthobiologics market was valued at $2.8 billion in 2010 and is expected to grow at a CAGR of 6.6 percent to reach $4.4 billion by 2017. The market growth is expected to be fuelled by a number of factors, the report noted, such as an active elderly population, the uptake of orthopedic surgery at an earlier age, bone related problems due to the increasing incidence of obesity, the development of better and longer-lasting orthobiologic products, and new procedures, in particular, minimally-invasive procedures. Older adults in the United States increasing are looking for opportunities to remain productive and physically active, such as walking, biking, fitness trails and similar activities. This active lifestyle in the elderly population is more prone to fractures and other bone related problems, which of course leads to an increase in surgeries. In the United States, about 3 percent to 5 percent of falls among older adults result in fractures, which translates into 360,000 to 480,000 fall-related fractures every year. Hip fractures represent the most serious and common injury resulting from falls, with 250,000 fractures occurring every year in individuals older than the age of 65, report authors said.
Bone graft substitutes are forecast to be the fastest growing segment in the orthobiologics market. The global market for bone graft substitutes was valued at $1.9 billion in 2010 and is expected to grow at a CAGR of 8.3 percent to reach $3.3 billion by 2017. The limitations associated with autografts and allografts have led to the increased adoption of bone graft substitutes. Although it is considered the gold standard for orthopedic procedures, autografts also have certain limitations. The use of autografts includes additional surgery and donor site morbidity. In addition, the use of allografts has been associated with the risk of disease transmission and the generation of an immune response in the patient’s body. Another concern with the use of allografts is that their demand is far exceeding supply, despite an increase in the number of cadaver donors. Many studies are ongoing to develop and refine bone graft substitutes for use in orthopedic surgery procedures in order to eliminate the need to harvest the patient’s own bone, potentially reducing the risk of infection and pain associated with the procedure and resulting in higher fusion rates.
The global orthobiologics market is fragmented with multiple players dominating the market segments. In 2010, Medtronic, Inc., DePuy, Inc. and Genzyme Corp. were the top three players in the global orthobiologics market, with a combined share of about 37 percent. Medtronic was the top player, with an 18 percent market share. Its leading position can be attributed to the sales of its Infuse bone graft. DePuy is the second largest player, with a market share of 10 percent, followed by Genzyme Corporation, with a 9 percent share in the global orthobiologics market.
Globally the number of spinal fusion surgeries increased from 1.2 million in 2006 to 1.6 million in 2010 at a CAGR of 6.7 percent. The trend is expected to continue and the number is forecast to grow annually at about 7 percent in the next few years.
There are numerous reasons the study cited for the steady increase in the number of spinal fusion procedures, such as:
• Financial incentives exist for neurosurgeons to perform spinal fusion surgeries;
• Increasing elderly population;
• Improved axial imaging technology;
• Refinement in surgical spinal procedures; and
• Improvements in the devices used during surgery.
Another reason for the increased adoption of orthobiologic materials in the spinal fusion procedure is pseudoarthrosis. When autogenous bone grafting was used in spinal fusion, the rate of pseudoarthrosis was as high as 43 percent in some cases. Despite modern advanced techniques, symptomatic pseudoarthrosis still occurred in 10-15 percent of cases. This led surgeons to devise new biological strategies, to search for alternative substitutes for autogenous bone grafting, and stimulating bone fusion. As a result, orthobiologic materials are now used extensively in spinal fusion procedures.
For further details, visit: www.globaldata.com
The market was valued at $4.8 billion in 2010, and is forecast to grow at a compound annual growth rate (CAGR) of 6.8 percent to reach $7.6 billion in 2017. As reasons for growth, the report cites a rapid increase in the elderly population, an increase in the prevalence of arthritis, technological innovations, increasing numbers of spinal fusion surgeries and the increase in the trend of medical tourism.
The U.S. orthobiologics market was valued at $2.8 billion in 2010 and is expected to grow at a CAGR of 6.6 percent to reach $4.4 billion by 2017. The market growth is expected to be fuelled by a number of factors, the report noted, such as an active elderly population, the uptake of orthopedic surgery at an earlier age, bone related problems due to the increasing incidence of obesity, the development of better and longer-lasting orthobiologic products, and new procedures, in particular, minimally-invasive procedures. Older adults in the United States increasing are looking for opportunities to remain productive and physically active, such as walking, biking, fitness trails and similar activities. This active lifestyle in the elderly population is more prone to fractures and other bone related problems, which of course leads to an increase in surgeries. In the United States, about 3 percent to 5 percent of falls among older adults result in fractures, which translates into 360,000 to 480,000 fall-related fractures every year. Hip fractures represent the most serious and common injury resulting from falls, with 250,000 fractures occurring every year in individuals older than the age of 65, report authors said.
Bone graft substitutes are forecast to be the fastest growing segment in the orthobiologics market. The global market for bone graft substitutes was valued at $1.9 billion in 2010 and is expected to grow at a CAGR of 8.3 percent to reach $3.3 billion by 2017. The limitations associated with autografts and allografts have led to the increased adoption of bone graft substitutes. Although it is considered the gold standard for orthopedic procedures, autografts also have certain limitations. The use of autografts includes additional surgery and donor site morbidity. In addition, the use of allografts has been associated with the risk of disease transmission and the generation of an immune response in the patient’s body. Another concern with the use of allografts is that their demand is far exceeding supply, despite an increase in the number of cadaver donors. Many studies are ongoing to develop and refine bone graft substitutes for use in orthopedic surgery procedures in order to eliminate the need to harvest the patient’s own bone, potentially reducing the risk of infection and pain associated with the procedure and resulting in higher fusion rates.
The global orthobiologics market is fragmented with multiple players dominating the market segments. In 2010, Medtronic, Inc., DePuy, Inc. and Genzyme Corp. were the top three players in the global orthobiologics market, with a combined share of about 37 percent. Medtronic was the top player, with an 18 percent market share. Its leading position can be attributed to the sales of its Infuse bone graft. DePuy is the second largest player, with a market share of 10 percent, followed by Genzyme Corporation, with a 9 percent share in the global orthobiologics market.
Globally the number of spinal fusion surgeries increased from 1.2 million in 2006 to 1.6 million in 2010 at a CAGR of 6.7 percent. The trend is expected to continue and the number is forecast to grow annually at about 7 percent in the next few years.
There are numerous reasons the study cited for the steady increase in the number of spinal fusion procedures, such as:
• Financial incentives exist for neurosurgeons to perform spinal fusion surgeries;
• Increasing elderly population;
• Improved axial imaging technology;
• Refinement in surgical spinal procedures; and
• Improvements in the devices used during surgery.
Another reason for the increased adoption of orthobiologic materials in the spinal fusion procedure is pseudoarthrosis. When autogenous bone grafting was used in spinal fusion, the rate of pseudoarthrosis was as high as 43 percent in some cases. Despite modern advanced techniques, symptomatic pseudoarthrosis still occurred in 10-15 percent of cases. This led surgeons to devise new biological strategies, to search for alternative substitutes for autogenous bone grafting, and stimulating bone fusion. As a result, orthobiologic materials are now used extensively in spinal fusion procedures.
For further details, visit: www.globaldata.com