Orthopedic Stem Cell Use in the U.S. Projected to Rise as Competition in the Market Intensifies; Led by NuVasive
VANCOUVER, BC, May 11, 2015 (GLOBE NEWSWIRE) — via PRWEB – According to a recently published report by iData Research (http://www.idataresearch.com), the orthopedic stem cell market was the fastest growing orthopedic biomaterial segment in the US. It aims to provide greater osteoinductive and osteogenesis properties compared to other bone grafts, therefore improving bone repair. These stem cells are currently only being used for spinal procedures, specifically lumbar and cervical indications. But the market may experience further growth as more competitors join the market and as education about stem cell use improves allowing other indications to become approved by the FDA.
“Orthopedic stem cells’ higher average selling price is better tolerated by the commercialized nature of the spine market, explains Dr. Kamran Zamanian, CEO of iData. “As new stem cell products and innovations enter the market, prices should decline, which will aid in greater adoption and in turn fuel the number of procedures using stem cell bone grafts.”
Other key findings from the 2015 iData Research report series entitled U.S. Market for Orthopedic Biomaterials:
Aging Population Use of Stem Cells
With regards to the incidence of osteoarthritis and degenerative joint disease, the aging population is a driver for stem cell therapies, as it is for the orthopedic market in general.
High Cost of Development
Cell-based therapies are generally very costly. Developing a viable stem cell product is currently prohibitively expensive. Definitions and protein markers that help distinguish types of stem cells are often challenging to develop, as these cells change in various clinical settings. The potential reward is appreciable for end-users, but the cost of research and development is a considerable burden for entrants. This will hinder further market growth.
Leading Competitors
NuVasive led the U.S. orthopedic stem cell market in 2014. They are currently shifting their sales efforts to their second-generation product Osteocel® Plus. NuVasive purchased the Osteocel® line of products from Osiris Orthopedics in 2008. The purchase was to complement their strong spinal hardware business.
Other notable competitors in the orthopedic stem cell market include Orthofix, Biomet, RTI Surgical, and AlloSource
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