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March 12, 2020 | Healthcare
Medical sciences have progressed in leaps and bounds over the past century and the trend is not showing any signs of stopping. In fact, this field can be thought of as an ever-growing supermassive star, with new and fresh energy being infused in it at regular intervals. Orthobiologics represent the dawn of new-age medicine in the domain of pain management and healing, leading to the creation a thriving market for these treatment techniques. In order to better understand this market, let us delve deeper into some of its most important aspects.
What are orthobiologics exactly?
Orthobiologics can be understood as therapeutic tools that stimulate healing in the body either through promotion of tissue growth or preservation of existing tissue by using materials naturally found in the human body. The idea is to improve functioning and reduce pain and also to inhibit or slow down the development of arthritis, especially in old people. The most important point to remember here is that orthobiologics do not involve any synthetic chemicals or drugs, which is a huge positive driving this market.
What are the other areas where orthobiologics can be utilized?
These medicines have emerged as effective treatment options not just for arthritis and other orthopedic disorders, but also for cartilage repair, spinal fusion, dental surgeries and implants, and maxillofacial procedures. This is a stupendous achievement for medical professionals and researchers as this treatment method has come a long way from its humble beginnings, when it was simply used as a regenerative medicine.
What are the different types of orthobiologics?
Orthobiologics is an umbrella concept and has many sub-divisions. The main ones include:
Which recent innovations are making headlines in this market?
The orthobiologics market is a highly-charged one and many innovative products have been launched recently that have made competition in this market extremely dynamic and interesting. For example, in September 2019, Zimmer Biomet received the coveted FDA 501(k) clearance for its Persona Revision Knee System. The product is customizable as it comprises of anatomic components to match with the anatomy of the patient concerned. It employs Zimmer’s two flagship technologies - Trabecular Metal, which is a porous biomaterial devised out of tantalum in its elemental form; and Vivacit-E Highly Crosslinked Polyethylene (HXPE), which is a bearing surface coated with Vitamin E to prevent oxidation and increase wear resistance. Another industry development that jumped off the pages during our research is the collaboration between Musculoskeletal Transplant Foundation (MTF) Technologies and Bioventus in June 2019. Under this partnership, the two entities started work towards jointly developing a sophisticated placental tissue solution to effectively treat painful musculoskeletal conditions. Their primary focus, however, will be on knee osteoarthritis.
Which region offers the most promising prospects for the market?
According to Fortune Business Insights, North America is likely to emerge as the most promising regional market. This is because of the high prevalence of arthritis in the region. Statistics released by the Arthritis Foundation highlighted that close to 54 million adults in the US have been diagnosed with arthritis and by 2040, this number is expected to reach 78 million. In an even more shocking revelation, around 300,000 babies and children in the US have some kind of arthritic or rheumatic condition. Given the rate at which the geriatric population is growing in the continent, these numbers are actually not that surprising. On the contrary, from a market standpoint, they are quite tantalizing for competitors.
What does the future look like for the orthobiologics market?
Tremendous potential in terms of research and innovation will characterize the development of this market in the near future. Adoption of right strategies and intelligent recognition of trends will hold the key for any company that wants to stride ahead of the competition curve. What an exciting time to be a player in this market!
About the Author
Name: Shantanu Ayachit
Shantanu Ayachit is part of a talented team of content writers working in Fortune Business Insights™, one of the most promising market research firms in the industry. He has experience in developing quality content and is currently involved in writing articles, press releases, and blogs for the company. He is highly motivated and enjoys putting ideas and thoughts into words to enable the reader to experience a seamless perusal.