The global orthobiologics market is projected to grow at a 3.5 percent compound annual growth rate, topping $6.5 billion by 2027, according to a Future Market Insights report.
Here are five things to know:
1. In North America, the orthobiologics market is expected to reach more than $3 billion by 2027.
2. The bone graft stimulators segment holds the largest market share and is expected to exceed $3 billion by 2027.
3. The increasing incidence of fracture-causing orthopedic disorders and sports injuries, as well as the rising demand for outpatient surgical procedures and increasing medical tourism, are driving the global orthobiologics market forward.
4. The high cost of orthopedic surgery and increasing competition leading to price fluctuations are limiting the global market's growth.
5. Key players in the global orthobiologics market include:
- Medtronic
- NuVasive
- Stryker
- Zimmer Biomet
- Orthofix