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Orthobiologics to 2016
Orthobiologics to 2016
The Global Orthobiologics Market is Forecast to Reach $9.6 Billion in 2016, Growing at a CAGR of 12% between 2009-2016
London,
London,
United Kingdom
(prbd.net)
02/03/2011
The global orthobiologics market was valued at $4.3 billion in 2009, and is forecast to reach $9.6 billion in 2016, which represents a compound annual growth rate (CAGR) of 12%. substitutes will remain the largest segment in the market, with a value of $5.3 billion by 2016. Growth in the market is primarily being driven by the increasing incidence of arthritis, an increasingly elderly population, and higher obesity rates. Globally, about 350 million people have arthritis, and more than half of those with arthritis, are under 65 years of age. Also, advances in technology, such as the development of nanotechnology coatings for use in wear-resistant orthopedic devices, and injectable bones, which are biodegradable and can fill any cavity shape, taking on similar characteristics to normal bone, are expected to drive the market in the near future.
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The US orthobiologics market was valued at $2.3 billion in 2009, and is expected to reach $6 billion in 2016, which represents a CAGR of 15% for the period. The US remains the largest orthobiologics market in the world, accounting for more than 50% of the global orthobiologics market in 2009. The orthobiologics market in the US going forwards is expected to be driven by patient demographics, the development of novel product designs, increasing patient awareness, increasing participation in sports related activities, and a rising incidence of road accidents.
The incidence of arthritis has been growing steadily, mainly due to an increase in obesity rates and an increase in the population over the age of 65. Studies have shown that more than 50% of people over 65 years of age, go on to develop osteoarthritis, and worldwide, 350 million people have arthritis. According to the US Centre of Disease Control (CDC), 47.8 million people in the US were affected by some form of arthritis during 2005. It is projected that by 2030, physician-diagnosed arthritis will reach 67 million, or 25% of the adult population. Also, the prevalence of back pain is increasing, and is estimated to be highest among middle aged individuals, between 30 to 50 years old. The annual incidence of lower back pain in the US and Europe is approximately 5% of the total population. Worldwide, 200 million people are at risk of a fragility fracture, and 40% of women and 14% of men older than 50 years, will experience a fragility fracture.
GBI Research’s new report, “Orthobiologics to 2016 - Alternatives to Surgery and Superior Outcomes are Driving Wider Adoption of Orthobiologics” provides key data, information and analysis on the Orthobiologics industry and analytical content on the market dynamics. The report provides market landscape, competitive landscape and market trends information on Orthobiologics industry . The report provides comprehensive information on the current practices and trends in the Orthobiologics industry. The report also reviews the competitive landscape, and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.
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