Orthobiologics Market Expected to Grow Quickly through 2018
Nov 1, 2014
In the world of health care, there are an unlimited number of opportunities for investments that can yield massive profits. Regenerative medicine research and development is one of those booming branches of care that’s expected to see steady growth in the coming years, and a new report by research analysis company MicroMarket Monitor revealed that the orthobiologics industry in particular is projected to prosper.
What are orthobiologics?
Orthobiologics are used by orthopaedic surgeons to aid in the healing of injuries. The substances, which can be naturally found in the body, can help fix broken bones, muscles, ligaments and tendons, and they come in many forms, such as regenerative tissue matrixes. Though your body creates such substances on their own, orthobiologics provide them in much higher concentrations.
Matrixes, for example, have been shown to create biological scaffolding for the growth of new tissue. It works somewhat like a house in which the cells can live and multiply in order to develop into bone, muscle, cartilage or tendons. This is the same type of technology used in ISTO Technologies’ InQu® Bone Graft Extender and Substitute.
MicroMarket Monitor findings
On Sept. 29, 2014, MicroMarket Monitor published a report revealing that the North American orthobiologics market is expected to grow at an astonishing compound annual growth rate of 7.2 percent from 2013 to 2018, rising to a whopping $4796.3 million.
The orthobiologics market in North America is estimated to grow to around $4796.3 million by 2018, at a developing CAGR of 7.2% from 2013 to 2018. The in-depth analysis provides several major reasons for the growth of the market, including greater affordability and advancements in technology in orthobiologics.
The growing aging population also plays a big role in the progress of this branch of orthopedics. As the report states, 14 percent of the American population consists of adults age 65 or older, and this number is expected to increase in the coming years. This population group has a greater demand for regenerative medicine that utilized orthobiologics-related technology, such as bone grafting, spinal infusions and cartilage implants. These are used as a safer, permanent alternative to knee replacements. Rising obesity rates are also expected to have a big impact on the demand for bone graft substitutes.
These findings are a strong indication of the future of regenerative medicine and the importance of investing now while opportunities are still available.