GVR Report cover Orthopedic Regenerative Surgical Products Market Size, Share & Trends Report

Orthopedic Regenerative Surgical Products Market Size, Share & Trends Analysis Report By Product (Allograft, Synthetic, Cell-based, Viscosupplements), By Application, By End User (Hospitals, Ambulatory Surgical Centers), And Segment Forecasts, 2021 - 2028

  • Published Date: Jul, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68039-477-3
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 150

Report Overview

The global orthopedic regenerative surgical products market size was valued at USD 3.4 billion in 2020 and is estimated to expand at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028. Growing technological advancements, the prevalence of arthritis and other orthopedic conditions, orthopedic surgeries, and R&D activities are some of the key drivers of this market. 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.

U.S. orthopedic regenerative surgical products market size, by product, 2018 - 2028 (USD Billion)

The COVID-19 pandemic adversely impacted the market for orthopedic regenerative surgical products due to the cancellation of elective procedures, disruptions in clinical studies, and low demand and sales. Companies also had to face operational challenges due to business closures, supply chain disruptions, travel restrictions, stay-at-home protocols, employee illness or quarantines, and other extended periods of interruption. In the U.S. for instance, several public health bodies recommended postponing elective surgeries to prevent cross-infection and meet the demands of managing coronavirus patients. Patients, too, deferred elective surgeries to avoid the risk of exposure to the COVID-19 virus.

Post-COVID and as movement restrictions ease, elective surgeries are expected to increase over time as the underlying causes remain unaffected. Several regulatory bodies have released guidelines to help resume elective surgeries in a safe manner. These include guidelines prescribed by the American Society of Anesthesiologists (ASA), American Hospital Association, American College of Surgeons, and Association of periOperative Registered Nurses.

Orthopedic conditions such as osteoarthritis are the primary cause of disability in the geriatric population and a key driver for the market. According to research published by the Lancet and funded by the National Natural Science Foundation Council of China, the prevalence of knee osteoarthritis across the globe was found to be 16%. The prevalence was found to be higher in individuals aged 40 and above and was estimated to be 22.9% or about 645.1 million people in 2020. The incidence is expected to increase over the forecast period due to sedentary lifestyles, obesity, and an aging population, thus propelling the market for orthopedic regenerative surgical products.

 

COVID-19 led dip in revenue over 4.0% in the orthopedic regenerative surgical products market

Pandemic Impact

Post COVID Outlook

The earlier projections depicting 3.6% YoY growth was countered by the pandemic resulting in the difference of USD ~460 million revenue in the earlier and recent estimations

Gradual market recovery is anticipated in 2021 with YOY growth of 18.4% from 2020 and a CAGR of over 4.0% (2022- 2028) owing to, resumption of elective surgeries, backlog,  and increased target population

European and Latin American markets experienced significant surgical restrictions due to the pandemic. While APAC experienced restrictions to a lesser degree.

The viscosupplement market continued its shift towards single injection products which is expected to propel the growth over the forecast period.

 

By 2021, many companies reported recovery in sales with positive projections for the future. For example: Vericel achieved growth of around 5% in 2021 from last year.

 

Technological advancements fueled by increasing R&D studies and the use of emerging technologies such as stem cells, viscosupplements, and Platelet Rich Plasma (PRP) therapies are factors anticipated to drive the market. According to a 2020 survey published in the International Journal of Complementary and Alternative Medicine, 70% of the respondents viewed regenerative medicine therapies positively in the treatment of musculoskeletal problems. The response was more positive in the case of participants with personal experience of regenerative medicine therapies.PRP- and stem cell-based therapies are at the forefront of regenerative medicine research for indications including repair and restoration of damaged tissues, osteoarthritis, and trauma repair. In November 2020, Amniox Medical released the results from a retrospective study, wherein amniotic membrane/umbilical cord particulate were found to significantly delay Total Knee Arthroplasty (TKA) in moderate to severe knee osteoarthritis patients.

Product Insights

The viscosupplements segment dominated the market for orthopedic regenerative surgical products and accounted for the largest revenue share of 42.7% in 2020. This growth is owing to rising incidence of knee pain and osteoarthritis. Factors such as aging, obesity, excessive exercise, external injury, and genetic predisposition, further contribute to knee osteoarthritis, thus driving the market for orthopedic regenerative surgical products. In December 2019, Fidia Pharma USA Inc. for instance, launched Hyaluronic Acid-based viscosupplement- Triluron, in the U.S. for treating pain in osteoarthritic patients. Seikagaku Corporation, on the other hand, launched an intra-articular viscosupplement injection- HyLink in March 2019, in Italy. The product is CE marked and provides pain relief for 26 weeks in knee osteoarthritis patients.

The allografts segment is expected to witness a CAGR of 3.7% over the forecast period. This is because of the increasing use of allografts including fresh-frozen meniscal allografts, osteochondral allografts, off-the-shelf cartilage, and soft tissue allografts in orthopedic surgeries. According to JRF Ortho an Allograft Company, allografts offer several benefits such as decreased surgical time, better bone healing, fewer complications, and a quicker recovery time. The company has distributed more than 20,000 fresh osteochondral allografts and focuses on the sport medicine market.

Application Insights

The joint reconstruction segment dominated the market for orthopedic regenerative surgical products and accounted for the largest revenue share of 35.0% in 2020. The key factors attributing to this share include increasing surgical procedures, adoption of regenerative solutions in joint reconstruction, and technological advancements.  Amniox Medical, Inc. for instance, offers its Clarix line of surgical allografts for use in orthopedic surgery in various procedures such as trauma and reconstruction, arthroplasty, and soft-tissue repair.

The cartilage and tendon repair segment is expected to witness the fastest CAGR of 3.8% over the forecast period due to growing applications in sports medicine, geriatric patients, and the incidence of trauma cases.MACI by Vericel, for example, is indicated for cartilage defects that result from injury due to general wear and tear, overuse, and muscle weakness in the knee. The company registered MACI revenue of USD 94.4 million for the year ending December 2020, despite the COVID-19 pandemic.

End-user Insights

The hospitals segment dominated the market for orthopedic regenerative surgical products and accounted for the largest revenue share of 50.4% in 2020. The factors contributing to the large share of the segment include a higher volume of orthopedic procedures performed in hospital settings. The Gelenk Klinik orthopedic hospital in Germany for example, performs around 2400 surgical procedures every year and treats over 24,000 orthopedic patients annually.

Global orthopedic regenerative surgical products market, by end user, 2020 (%)

The others segment comprising of orthopedic specialty centers and clinics is estimated to register the highest CAGR of 3.7% over the forecast period. This is owing to the high usage of orthopedic regenerative surgical products for pain management and other treatments within orthopedic clinics and centers. The ambulatory surgery centers segment is also expected to grow notably in the coming years due to the increasing number of ASCs. As per the March 2021 data provided by the CMS, there are about 817 Medicare-certified ASCs in California, 187 in Washington, 457 in Florida, 442 in Texas, and 368 in Georgia. These numbers are anticipated to increase in the coming years.

Regional Insights

North America dominated the orthopedic regenerative surgical products market and held the largest revenue share of 40.0% in 2020. This can be attributed to the presence of key players, an aging population, and technologically advanced healthcare facilities in the U.S. and Canada. According to Statistics Canada, the country had over 6.8 million people aged and 65 and older in July 2020, while the median age was 40.9 years. Europe held the second-largest share due to the prevalence of chronic orthopedic conditions and the increasing geriatric population. This increases the risk factor for developing orthopedic disorders thus fueling the demand for orthopedic regenerative surgical products.

In Asia Pacific, the market for orthopedic regenerative surgical products is estimated to witness the fastest CAGR of 5.1% during the forecast period. This is owing to developing healthcare infrastructure, regional expansion by key players, and the rising prevalence of orthopedic disorders such as osteoarthritis. As per the Ministry of Health and Family Welfare, Government of India, the prevalence of osteoarthritis is between 22% to 39% in the country and the prevalence is estimated to increase over time. According to the Australian Institute of Health and Welfare, Government of Australia, on the other hand, 1 in 7 adults have some form of arthritic condition, amongst which 1 in 2 Australians experienced moderate to severe pain.

Key Companies & Market Share Insights

The market for orthopedic regenerative surgical products is moderately competitive. Market players are involved in the implementation of strategic initiatives, including R&D, product development and launches, regional expansion, and expansion of distribution network. Key players are also involved in partnerships and mergers and acquisitions. For instance, in May 2021, MiMedx partnered with the Wake Forest Institute For Regenerative Medicine to conduct research and development for advancements in regenerative science and innovative biologics. This supported the company’s initiative to demonstrate the capability of amniotic tissues to address chronic conditions including musculoskeletal disorders. Some of the prominent players in the orthopedic regenerative surgical products market include:  

  • Anika Therapeutics, Inc.

  • Vericel Corporation

  • Baxter

  • Zimmer Biomet

  • Stryker

  • Smith+Nephew

  • AlloSource

  • Amniox Medical, Inc.

  • VSY Biotechnology

  • Aptissen S.A

  • MiMedx

Orthopedic Regenerative Surgical Products Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 4.0 billion

Revenue forecast in 2028

USD 5.2 billion

Growth Rate

CAGR of 3.6% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application end user, region

Regions covered

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; UK; Germany; Italy; France; Spain; Japan; China; India; Brazil; Mexico; Argentina; South Africa; Saudi Arabia

Key companies profiled

Anika Therapeutics, Inc.; Vericel Corporation; Baxter; Zimmer Biomet; Stryker; Smith+Nephew; AlloSource; Amniox Medical, Inc.; VSY Biotechnology; Aptissen S.A, MiMedx

Customization scope

Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this report, Grand View Research has segmented the global orthopedic regenerative surgical products market report on the basis of product, application, end user, and region:

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Allograft

      • Amniotic Products

      • Others

    • Synthetic

    • Cell-based

    • Viscosupplements

  • Application Outlook (Revenue, USD Million, 2016 - 2028)

    • Orthopedic Pain Management

    • Trauma Repair

    • Cartilage and Tendon Repair

    • Joint Reconstruction

    • Others

  • End-user Outlook (Revenue, USD Million, 2016 - 2028)

    • Hospitals

    • Ambulatory Surgical Centers

    • Others (Orthopedic Specialty Centers, Clinics)

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

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