Orthobiologics Market in Asia to Cross US$ 1Billion Mark by 2020

2026-08-16 02:19:18 Business

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According to a new research report by RNCOS entitled, ?Global Orthobiologics Market Outlook 2020?, Asian region is expected to have the fastest growth rate through 2020

Orthobiologics remains an alluring and developing market segment, particularly in Asia. Riding on the pillars of increasing orthobiologics research related activities; the Asian market is expected to reach US$ 1.4 Billion by 2020.

Numerous other factors also add to the development of the orthobiologics market in this region. Initially, the rapidly growing elderly population increases the prevalence of orthopaedic disorders and therefore, has driven the demand for orthobiologics related products and procedures. Furthermore, per capita disposable income and national wealth is also rising in Asian countries, which has enhanced the capability of the general population to afford and manage the cost of the more orthopaedic procedures and has uplifted government investments in healthcare industry. Common health conditions such as diabetes and obesity are rising, further increasing the risks associated with these disorders like osteoarthritis. Finally, increased vehicle sales have prompted a rise in the number of car accidents and injuries that require orthobiologic products.

Asia accounts for 60% of the world?s population, but the region currently holds about 20% of the orthobiologics market, thus, there are significant chances for growth in the region, specifically in Japan, Korea, Taiwan, and China, which all have rapidly aging populations.

In India, Osteoarthritis is prevalent amongst 30-35% of its aging population and thus acts as a driving factor for the growth of Hyaluronic Acid Viscosupplementation market in the country. High number of clinical trials performed and companies growing interest towards orthobiologics approach is driving the market. There is currently an intensive research effort to understand the utility of orthobiologics in various clinical fields.

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