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Market Brief: Global Orthobiologics Market Will Reach $2.3Bn By 2023 With Highest Growth In Cartilage Replacement
The global market for orthobiologics for musculoskeletal soft tissue replacement and regeneration is expected to reach $2.3bn by 2023, according to a new report by Informa's Meddevicetracker. This highly competitive market, which is led by Arthrex and other large and smaller players, continues to grow amid the rising prevalence of musculoskeletal soft tissue injuries and osteoarthritis. High prices of implants, the limited availability of donated tissue and limited reimbursement for synthetic scaffolds are limiting growth in this market.
The $1 billion vascular closure market is primed for growth. It comes on the back of intensive R&D that has spawned a range of alternatives to the traditional manual/compression approach, giving SJM and the sector’s other heavyweights cause to look over their shoulders.
Researchers have been working for years to develop a reliable and cost-effective means of regenerating the hyaline cartilage found in the knee, with the aim of offering a minimally invasive treatment option for the millions of patients with painful knee osteoarthritis. Although this goal has been elusive so far, recent progress suggests the field may have turned a corner, and a large number of companies are now competing to win this quest, which many refer to as the “Holy Grail” of knee OA.
The Dealmaking column is a survey of recent transactions, including strategic alliances, mergers & acquisitions, and financings, in the life sciences industries. Deals are listed by the following industry sectors: in vitro diagnostics, medical devices, pharmaceuticals, and research/analytical instrumentation and reagents. All transactions are excerpted from Elsevier's Strategic Transactions database, providing comprehensive transaction coverage from 1991 to the present.
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