Market Trends of Global Orthopedic Regenerative Surgical Products Industry
This section covers the major market trends shaping the Orthopedic Regenerative Surgical Products Market according to our research experts:
Viscosupplements is Expected to Hold a Significant Share Over the Forecast Period
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. Viscosupplements are usually preferred by healthcare providers to treat osteoarthritis, but then it may also benefit patients with certain other kinds of arthritis, such as rheumatoid arthritis.
An increase in the incidence of knee pain and osteoarthritis is expected to drive the viscosupplements segment growth over the forecast period. According to the 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.
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 years were overweight in 2019. Based on the above-mentioned facts, it is expected that the viscosupplements segment will augment over the forecast period.
North America Dominates the Market and is Expected to do the Same in the Forecast Period
North America holds the major market share in the orthopedic regenerative surgical products market and is expected to dominate the overall market, throughout the forecast period owing to the increasing incidences of orthopedic conditions, growing geriatric population, and high adoption of regenerative orthopedics in the region. In the North America region, the United States is slated to be the largest market due to the presence of a large number of orthopedic regenerative surgical products manufacturers and suppliers. In addition, According to 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%).
Furthermore, adoption of mergers and acquisitions and partnerships as a key growth strategy by regional companies is anticipated to further propel market over the forecast period. 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.
