Orthopedic Regenerative Surgical Products Market Size, Share, Industry, Forecast and outlook (2024-2031)

Orthopedic Regenerative Surgical Products Market is segmented By Product (Allograft, Synthetic, Cell-based, Viscosupplements), By Application (Joint Reconstruction, Orthopedic Pain Management, Trauma Repair, Cartilage, and Tendon Repair, Others), By End-User (Hospitals, Ambulatory Surgical Centers, Others (Orthopedic Specialty Centers, Clinics)), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Orthopedic Regenerative Surgical Products Market Overview

Orthopedic regenerative surgical products market is estimated to reach at a high CAGR of 4.4% during the forecast period 2023-2030. The orthopedic regenerative surgical products market growth is driven by the growing technological advancements, the prevalence of arthritis and other orthopedic conditions, orthopedic surgeries, and R&D activities are some of the key factors of this market.

Orthopedic Regenerative Surgical Products Market Summary and Scope

Orthopedic Regenerative Surgical Products Market Geographical Share

Regenerative orthopedics helps treat discomfort and pain of the musculoskeletal system and improve the healing of orthopedic conditions, such as ligament, tendon injuries, muscle, bone, the meniscus of the knee, spinal disc, etc. cartilage. These body parts have a comparatively poor capability to heal on their own. Regenerative orthopedic surgical products help these tissues to heal better. Orthopedic regenerative surgical products may help some patients avoid orthopedic surgery completely.

Orthopedic Regenerative Surgical Products Market Dynamics and Trends

The rising prevalence of arthritis and other orthopedic conditions, orthopedic surgeries, is expected to drive the growth in the forecast period

According to data published by the Centers for Disease Control and Prevention in 2018, an estimated 54.4 million adults had doctor-diagnosed arthritis, with significantly higher prevalence in women than in men in the United States. In addition, according to the Centers for Disease Control and Prevention estimates, about 78.4 million (25.9% of the projected total adult population) adults aged 18 years and older will have doctor-diagnosed arthritis by 2040.

Furthermore, with the increase in the geriatric population, there is a rise in the number of people suffering from orthopedic conditions requiring regenerative treatment. Also, utilization of emerging technologies, including platelet-rich plasma (PRP) therapies, viscosupplements, and stem cells, is increased in the healthcare industry. For instance, In April 2021, the Azienda Ospedaliero-Universitaria Consorziale Policlinico in Italy completed a study on Platelet Rich Plasma (PRP) injections for knee osteoarthritis in adults aged between 40 to 81 years. This study is one of the many R&D projects registered on the clinicaltrials.gov platform of the U.S. National Library of Medicine. The statistics mentioned above indicate that the prevalence of arthritis and demand for orthopedic regenerative surgical products is increasing, which may drive the market over the forecast period.

Poor reimbursement scenarios and stringent regulatory scenarios may hinder the growth of the market.

The Centers for Medicare and Medicaid Services (CMS) determine what treatments and technologies are worth covering and design reimbursement structures. Recently, CMS lowered their reimbursement rates — possibly causing hospitals and surgical centers to lose billions. In 2016, CMS established a new value-based reimbursement system, known as the Comprehensive Care for Joint Replacement model. This guides how CMS reimburses nursing facilities, hospitals, and outpatient cents for orthopedic surgeries. The transition from the previous reimbursement model puts hospitals and surgical centers at risk of losing billions.

COVID-19 Impact Analysis on Orthopedic Regenerative Surgical Products Market

The COVID-19 pandemic is expected to impact the orthopedic regenerative surgical products market due to disruptions in clinical studies, cancellation of elective procedures, and supply chain disruption. Orthopedic regenerative surgical products suppliers faced several challenges such as travel restrictions, business closures, stay-at-home protocols, and employee illness or quarantines during the pandemic.

Many hospitals have cancelled or postponed elective surgeries across the world to prevent cross-infection and meet the demands of coronavirus patients. For instance, University Medical Center and Sunrise Health in Las Vegas postponed elective surgeries to save bed capacity in 2020. According to the CovidSurg Collaborative in 2020, orthopedic procedures were cancelled most frequently, composing 26% of the total cancelled or postponed surgeries in 2020, which had a short-term negative impact on the market.

Orthopedic Regenerative Surgical Products Market Segmentation Analysis

The viscosupplements segment is expected to hold the largest share in this market segment

Viscosupplements are the injection of hyaluronic acid which injects into diarthrodial joints, intending to restore the rheological properties of the synovial fluid, thereby producing analgesic, mechanical, chondroprotective, and anti-inflammatory effects. Healthcare providers usually prefer Viscosupplements to treat osteoarthritis, but it may also benefit patients with certain other kinds of arthritis, such as rheumatoid arthritis.

An increase in knee pain and osteoarthritis incidence and effective product launches is expected to drive the viscosupplements segment growth over the forecast period. According to Statistics Canada, in 2021, approximately 5.9 million adult Canadians had arthritis in 2020. The prevalence of arthritis increases with age and is higher among females. For instance, In December 2019, Fidia Pharma USA Inc., launched Hyaluronic Acid-based viscosupplement Triluron, in the U.S. for treating pain in osteoarthritic patients. On the other hand, Seikagaku Corporation launched an intra-articular viscosupplement injection- HyLink in March 2019 in Italy. The product is C.E. marked and provides pain relief for 26 weeks in knee osteoarthritis patients.

Furthermore, obesity is another risk factor contributing to orthopedic conditions. According to the World Health Organization, in 2021, about 13% of the world’s adult population were obese in 2016, and 38.2 million children under the age of 5 were overweight in 2019. Based on the facts mentioned above, the viscosupplements segment is expected to augment over the forecast period.

The joint reconstruction segment is expected to hold the largest share in this market segment

The joint reconstruction segment dominated the orthopedic regenerative surgical products market and accounted for the largest revenue share. The key factors attributing to this share include increasing surgical procedures, regenerative solutions in joint reconstruction, and technological advancements. According to the National Joint Registry in 2017, it was estimated that approximately 160,000 total hip and knee replacement procedures were performed each year in England and Wales. For instance, Amniox Medical, Inc. offers its Clarix line of surgical allografts for orthopedic surgery in various procedures such as trauma and reconstruction, arthroplasty, and soft-tissue repair.

The hospital segment is expected to hold the largest share in this market segment

The hospital's segment dominated the orthopedic regenerative surgical products market and accounted for the largest revenue share. The factors owing to the large share of the segment include a higher volume of orthopedic procedures performed in hospital settings. For example, the Gelenk Klinik orthopedic hospital in Germany performs around 2400 surgical procedures every year and treats over 24,000 orthopedic patients annually.

North America region holds the largest market share global orthopedic regenerative surgical products

North America holds the major market share in the orthopedic regenerative surgical products market. It is expected to dominate the overall market throughout the forecast period owing to the rising incidences of orthopedic conditions, growing geriatric population, and high adoption of regenerative orthopedics in the region. In the North American region, the United States is the largest market due to many orthopedic regenerative surgical products manufacturers and suppliers. In addition, according to the United States Census Bureau, there were 54.1 million United States residents 65 years and older in July 2019. Furthermore, high awareness of orthopedic regenerative surgical products and high prevalence of arthritis joint pain with other co-occurring conditions such as diabetes among adults in the United States has led North America to witness tremendous growth in the orthopedic regenerative surgical products market. For instance, severe joint pain is more common among adults with arthritis with other chronic conditions such as heart disease (34.1%), diabetes (40.9%), disability (45.6%), obesity (31.7%), and psychological distress (56.3%).

Moreover, the adoption of mergers and acquisitions and partnerships as a key growth strategy by regional companies is anticipated to propel the market over the forecast period further. For instance, on 6 May 2021, MIMEDX Group, Inc. and the Wake Forest Institute for Regenerative Medicine announced a collaborative agreement to advance regenerative science and innovative biologics.

Orthopedic Regenerative Surgical Products Market Competitive Landscape

The global orthopedic regenerative surgical products market is highly competitive with the presence of global companies.  Some of the key players which are contributing to the growth of the market include Zimmer Biomet, Stryker, AlloSource, Amniox Medical, Inc., Anika Therapeutics, Inc., Smith & Nephew, Baxter, Vericel Corporation, MIMEDX, Aptissen S.A and PUR Biologics. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the software as a medical device globally. For instance, in January 2021, Miravo Healthcare announced the commercial launch of NeoVisc+ and NeoVisc ONE in Canada. These are hyaluronic acid Viscosupplements developed for the treatment of pain. NeoVisc+ and NeoVisc ONE received Health Canada approval in September 2020.

Orthopedic Regenerative Surgical Products Market Key Companies to Watch

Stryker

Overview: Stryker Corporation is an American multinational medical technologies corporation based in Kalamazoo, Michigan. Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes.

Product Portfolio: The key product categories are Allograft Wedges, AlloWrap DS, BIO⁴, DBM, HydroSet, Imbibe, Nerve repair, ProChondrix CR, ProLayer, Vitoss, Vitoss BA2X, Vitoss BA and Vitoss BBTrauma.

Key Developments: On 29-Apr-2021, Stryker enters a national partnership with Minor League Baseball to become the “Official SmartRobotics Joint Replacement Partner”.