Analyst Q&A: Orthopedic Biomaterials and the European Market

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Medtronic: European Orthopedic BiomaterialsiData’s analysts work extensively to retrieve data and source both syndicated and custom market research reports. Due to their in-depth understanding of the markets and their first-hand experience with the data, we have asked some insightful questions on the European market for orthopedic biomaterials to assist you in making better strategic decisions. 

WHAT ARE ORTHOPEDIC BIOMATERIALS?

The orthopedic biomaterials market consists of materials that are organic, inorganic or synthetic in nature. These materials are implanted or applied in or near the indicated bone to facilitate healing, encourage bone tissue augmentation, compensate in areas where bone tissue is depleted and restore structure to allow for repair. Orthopedic biomaterials are capable of producing specific biological action or regenerative responses that are beyond what is observed in normal healing. These materials are often used as substitutes for autograft materials, which are taken from a harvest site in the patient to patch or repair the wounded or unhealthy site. 

WHICH MARKET SEGMENTS ARE INCLUDED IN THE EUROPEAN ORTHOPEDIC BIOMATERIALS MARKET ANALYSIS?

Overall, the European market for orthopedic biomaterials includes:

  • Bone graft substitutes (BGSs) market, which includes allograft, synthetic and demineralized bone matrices (DBMs)
  • Bone morphogenetic protein (BMP) growth factors market
  • Hyaluronic acid (HA) viscosupplementation market
  • Cartilage repair market

WHAT FACTORS ARE DRIVING THE MARKET’S GROWTH?

As with many areas of orthopedics, the aging population includes a growing number of potential patients with osteoarthritis. As people age, bones become more susceptible to injury. This presents an increasing demand for orthopedic biomaterial products in Europe during the forecast period. In addition, obesity is a risk factor in many health-related ailments, especially osteoarthritis, as people’s joints have more load to bear. As a result, higher demand for orthopedic products will drive the market, specifically in the HA and BGS segments. Another market driver surrounds clinical evidence. Significant clinical data has been emerging regarding ACI procedures. This trend will continue in the long-term and will lead to rising sales and an increased possibility of national reimbursement.

WHAT FACTORS ARE LIMITING THE MARKET’S GROWTH?

One of the major market limiters surrounds stringent regulations. Regulation plays an important part in all biomaterials markets worldwide. In countries where strict regulations against certain biomaterials exist, the market for these materials is small or non-existent. It is possible that in the future, new products (growth factors, stem cells, etc.) will have to face more stringent regulatory hurdles than those introduced in the past. This adds considerable expense to product development.

Additionally, the high production costs act as another market limiter. High prices are often warranted in order to cover the expensive development process for a product. The issue remains that an innovative treatment must compete with existing options that may be less expensive. Any improved performance that an orthobiologic procedure or treatment provides must be sufficient to justify higher pricing. Moreover, a lack of reimbursement for treatments, especially when a lack of clinical data exists, puts pressure on payers.

WHICH COMPANIES ARE COMPETING FOR MARKET SHARE?

Currently there are three major companies competing for market share in the European orthopedic biomaterials market. Fidia, Medtronic, and TRB Chemedica are the leaders. Fidia is the current leader within the European market despite the company only being present in the hyaluronic acid market. Fidia’s overall market share resulted from the company’s strong presence in the prosperous hyaluronic viscosupplementation market in Italy and the rest of Europe with its product Hyalgan®. Fidia is one of the original companies to develop a hyaluronic viscosupplement injection product and heavily involves itself with researching and developing new products. 

EUROPEAN ORTHOPEDIC BIOMATERIALS MARKET: FURTHER INSIGHTS

For more information on procedure volume, unit sales, average selling prices (ASPs), competitive analyses, and more follow the link below to receive a free executive summary for the European Orthopedic Biomaterials Market Report. Additionally, iData offers a COVID-19 updated U.S. report along with the 2020 Asia-Pacific Orthopedic Biomaterials series (Australia, China, India, Japan, South Korea).

 

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Emma MatrickAnalyst Q&A: Orthopedic Biomaterials and the European Market