Analyst Q&A: Orthopedic Biomaterials and the European Market

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Fidia Orthopedic Biomaterials

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iData’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. Physicians implant or apply these materials in or near the bone to facilitate healing, encourage bone tissue augmentation, compensate in areas with bone tissue depletion and to 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)
  • Orthopedic growth factors market 
  • Orthopedic cell therapy market, which includes platelet-rich plasma and bone marrow concentration segments
  • Hyaluronic acid (HA) viscosupplementation market
  • Orthopedic cartilage repair market, which includes osteochondral allografts, meniscal allografts, ACI products and osteochondral autografts

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. Additionally, the rate of osteoarthritis rises along with that of obesity. Increases in body weight results in a higher degree of pressure on the knees and a higher degree of inflammation in the joints, and it accelerates disease progression. All of which either contributes to the development of osteoarthritis, or increases the severity of its symptoms. With a higher prevalence of bone diseases due to the elderly population and obesity incidence, iData’s analysts predict that these factors will influence market growth across the forecast period.

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, long healthcare assessment processes have a negative impact on reimbursement. Products are reimbursed by individual states and health organizations after they receive the approval by national healthcare agencies, in addition to the European Medical Agency (EMA). This might discourage doctors and healthcare staff to promote more expensive brands to their patients, since new brands do not have enough supporting clinical evidence to prove their superior efficacy. Hence, less chances of reimbursement may drive prices down in certain markets, in an effort to make devices more affordable.

WHICH COMPANIES ARE COMPETING FOR MARKET SHARE?

Currently there are two major companies competing for market share in the European orthopedic biomaterials market. Fidia, Medtronic are the leaders. Ironically, Fidia is the leader within the European market despite only being present in the hyaluronic acid viscosupplementation market. Fidia was able to regain its dominant market share presence from the previous year, as Medtronic trails close behind. Extensive research of hyaluronic acid has solidified Fidia leading position in the lucrative HA 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®. 

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

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