(PRWEB) March 26, 2015 -- Orthobiologics are substances used by orthopedic surgeons for healing bone injuries. These substances are derived naturally from the human body.
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The North American Orthobiologics market was valued at $1,724.5 million in 2014 and is estimated to grow to around $2,493.5 million by 2019, at a CAGR of 7.7% from 2014 to 2019.
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The changing preferences of the people from mechanical implants to biological implants accompanied by the rising awareness levels of Orthobiologics is the driving force of this market.The Orthobiologics market has seen impressive growth since 2012 owing to the increased research as well as the rising demand for such products due to the benefits associated with them.
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The U.S. Orthobiologics market had the largest share in North American, and it is slated to grow further due to the augmented growth in research, and increase in the aging population.
The Canadian region is anticipated to grow further due to growing investments in research, higher growth rate of aging population, and increasing cases of road accidents. Reimbursement concerns, stringent regulations, and high cost are some of the factors that could hamper the growth of this market.
This market is segmented and forecast on the basis of products and end-users. The North American Orthobiologics market is further segmented and forecast on the basis of countries such as the U.S., Canada, and Mexico.
This report also includes the market share, value chain analyses, and market metrics such as drivers, restraints, and upcoming opportunities in the market. In addition, it presents a competitive landscape and company profiles of key players in the market including major companies of the market.
Related Report:
European Orthobiologics Market
Orthobiologics has been gaining popularity as it provides accelerated healing, faster recovery and reduction in number of hospital visits. A rise in arthritis cases and geriatric population has triggered the growth of this market. Moreover, increase in obesity rate coupled with rise in demand for minimally invasive procedures has created a considerable demand for bone graft substitutes. In addition, technological advancements, growing patient awareness, rising incidences of road accidents and rising participation in sports related activities has considerably augmented the growth of this market.
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