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Market Brief: Global Orthobiologics Market Will Reach $2.3Bn By 2023 With Highest Growth In Cartilage Replacement
The global market for orthobiologics for musculoskeletal soft tissue replacement and regeneration is expected to reach $2.3bn by 2023, according to a new report by Informa's Meddevicetracker. This highly competitive market, which is led by Arthrex and other large and smaller players, continues to grow amid the rising prevalence of musculoskeletal soft tissue injuries and osteoarthritis. High prices of implants, the limited availability of donated tissue and limited reimbursement for synthetic scaffolds are limiting growth in this market.
Global sales of orthobiologics for musculoskeletal soft tissue replacement and regeneration are predicted to hit $1.4bn by 2021, driven largely by rising numbers of sports injuries requiring treatment, but also by a higher prevalence of osteoarthritis and a need for innovative treatments for musculoskeletal repair. This article offers an in-depth look at the orthobiologics market landscape for cartilage, meniscus and ligament/tendon replacement and regeneration, as well as insight from an orthopedic surgeon. It also analyzes key players in these markets and highlights emerging trends and the greatest barriers for wider adoption of products.
The US market for orthopedic extremities and soft-tissue repair products will grow by $2.2 billion over the next five years, according to a global market report from Medtech Insight. Major factors contributing to the strong growth of this market include: the expanding elderly demographic, an increase in the number of active adults who are prone to physical injuries, and improvements in biological material and implants that reduce complications and improve quality of life.
CartiHeal's simple, cell-free construct may offer a potential solution to one of the greatest unsolved problems in musculoskeletal surgery – cartilage regeneration. An interview with Nir Altschuler, founder and CEO of the Israeli start-up.
- Implantable Devices
- Therapeutic Areas
- Musculoskeletal & Connective Tissue Disorders
- North America
- Company Type
- Tech. Transfer Entity
- Parent & Subsidiaries
- Senior Management
Tom Cycyota, Pres. & CEO
Olivia Thompson, VP, CFO
Kerr Holbrook, Chief Commercial Officer
Peter Stevens, VP, Dev. & Growth
- Contact Info
Phone: (720) 873-0213
6278 South Troy Circle
Centennial, CO 80111
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