Orthobiologics Market valued at $5.4 billion in 2021 and is likely to grow at a CAGR of 7% by 2026

BRUSSELS - Dec. 14, 2022 - PRLog -- The Global Orthobiologics Market valued at $5.4 billion (2021) is set to witness a growth rate of 7% in the next 5 years. Increasing geriatric and obese populations globally, an increase in the number of people suffering arthritis and other spine-related disorders, an increase in patient preference for minimally invasive procedures, and mechanical advancements in biomaterials are some of the main reasons propelling the global orthobiologics market.

Technological advancements in Orthobiologics Market to fuel its Global Market demand
The development of effective products with enhanced patient healing capacities and expanded applications, among other things, has been made possible by continuous advancements in orthobiologics. As a result, key companies are constantly focusing on investing in research activities for the development of new products and increasing their geographic reach to strengthen their positions in the orthobiologics market. Such advances tend to provide manufacturers a competitive edge.

Below is a list of a few technological developments:

• In June 2022, Istos Biologics launched the Influx Fibrant line of 100% cortical allograft products featuring a patented technology from TheraCell and designed to advance patient healing
• In March 2022, SeaSpine launched new orthobiologic products- NorthStar cervical facet fusion and Flash navigation lumbar facet fusion, with an aim to streamline reproducible procedural workflow while maximizing the area for fusion
• In September 2020, Cerapedics received approval for its i-FACTOR+ Matrix bone graft from Health Canada. This next-generation bone graft is based on P15 osteogenic cell-binding peptide that supports bone growth through cell attraction, attachment, and activation

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Key Growth Strategies Adopted by Leading Market Players in Orthobiologics Market
Leading Market players operating in the orthobiologics market have accepted acquisition and partnership as key growth strategy to increase their product offerings, improve their geographic presence & distribution capabilities, and to co-develop advanced products.

Some of these developments are listed below -

• In August 2022, Orthofix Medical Inc. entered in a strategic partnership with CGBio, a synthetic bone grafts developer, to co-develop and commercialize Novosis recombinant human bone morphogenetic protein-2 (rhBMP-2) bone growth materials and other tissue regenerative solutions for the Canadian and US markets
• In July 2021, Celularity Inc. and Arthrex, Inc. entered into a supply and distribution agreement for the distribution and commercialization of multiple products including placental-derived biomaterial products from Celularity for orthopaedics and sport medicine in the US