Fortune Business Insights reported that the global orthobiologics market size was valued at $5.83 billion in 2018 and is projected to reach $8.26 billion by 2026, exhibiting a CAGR of 4.5% in the forecast period 2019-2026. Orthbiologics have considerably impacted orthopedic surgeries. The concept which was earlier used for regenerative medicines, has now expanded its area of application to spinal fusion, dental, maxillofacial, cartilage repair, knee arthroscopies and many others.
Spine fusion surgery often involves the use of grafting material to facilitate and accelerate the healing and fusion of two adjacent vertebral bodies.. In the United States, medical facilities performed 667,400 spinal fusion surgeries in 2013. This is the largest bone market for products that are intended to facilitate or accelerate bone healing/fusion. Current product types used are autologous bone graft, taken from the patient’s own bone, synthetic products, allograft bone taken from cadavers and recombinant proteins. The Company is in early preclinical testing of BHA product as an orthobiolgoic to determine the capability of BHA to act as an enhancer to existing bone graft substitutes as well as a stand-alone new alternative to bone graft substitute products.
The Company is exploring via market research, use of regulatory expert consultants and pre-clinical studies to determine the potential that BHA could be used as a bone graft substitute that has the potential to accelerate and enhance the bone healing due to the known bioactivity of BHA. Some of these applications under consideration are foot/ankle fusion, severe extremity fractures in addition to tibia such as radial, femur, humerus, etc.