Orthopedic Biomaterials

Orthopedic Biomaterials Market Size Expanding US$ 26.5 Bn by 2027

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The orthopedic biomaterials market size is estimated to reach US$ 26.5 billion by the end of 2027, registering a CAGR of 9.83% from 2020 to 2027. The report provides the overall revenue of the global orthopedic biomaterials market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.

Growth Factors

Growing prevalence of musculoskeletal diseases and disorders are the key driving factors for the growth of orthopedic biomaterials market. The reason for the occurrences of musculoskeletal disorder is orthopedic trauma or injury which affect the muscles, ligaments, tendons, bone and nervous. The orthopedic trauma affects the musculoskeletal systems. Increasing usage of nanoparticles in to orthopedic bioimplant will further propel the growth of the market. Currently, R&D activities into in the healthcare sector continuously focus to develop the treatment, therapies and medications for degenerative diseases. One of the crucial influences for the market growth is changing consumer preferences from traditional materials to nanophase materials. Considerable benefits of biomaterials led substantial inventions in the regenerative medicines sector in the past couple of years.

Increasing awareness among young generations towards health care and increasing geriatric population is expected to boost the growth of the orthopedic biomaterials market. Additionally, increasing demand for medical implant, substantial growth in the cardiovascular diseases escalates the growth of the market. However, procedure of manufacturing biomaterials is very time consuming and must go through biocompatibility testing and clinical trials which hampers the market growth. Nonetheless, growth in the adoption of implantable devices, increasing patient population and availability of flexible government regulations in the emerging region is projected to offer significant growth avenues for orthopedic biomaterials market over the forecast period.

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Report Highlights

  • Companies involved in the marketplace are focusing on developing innovative orthopedic biomaterials at competitive prices.
  • The arrival of 3D printing is projected to substantially enhance the demand for orthopedic biomaterials due to benefits coupled with fabricating scaffolds.
  • Increasing prevalence of bone degenerative diseases and bone disorders in low- and middle-income countries drives the regional market growth.
  • Significant average selling price of the orthopedic implants, favorable coverage of orthopedic procedure and growing demand for technologically advanced orthopedic implants from surgeons with enhanced lifetime and quality flourishes the growth in developed region.

Report Scope of the Orthopedic Biomaterials Market

Report Coverage Details
Market Size USD 26.5 Billion by 2027
Growth Rate CAGR of 9.83% from 2021 to 2027
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2021 to 2027
Segments Covered Material, Application, Region
Companies Mentioned Acumed, LLC, Medtronic plc, Globus Medical, Inc., Stryker Corporation, Koninklijke DSM N.V., Exactech, Inc., Johnson & Johnson, Zimmer Biomet, Wright Medical Group, Inc., NuVasive, Inc

Regional Snapshots

Regionally, the orthopedic biomaterials market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa. North America dominated global orthopedic biomaterials market in 2019 owing to increasing demand for technologically advanced orthopedic implants. North America is projected to further mirror this trend throughout the prediction period. As per National Health Statistics Report, 209 million Americans participated in sports and fitness activity in 2013, which is increased up to 213 million 2015. This has resulted in increased number of orthopedic surgeries including joint reconstruction, joint arthroplasty and viscoupllementation.

Europe closely followed North America owing to cumulative orthopedic surgery cases and increasing focus on health care. Lack of awareness and availability of treatment facilities in the Middle East and Africa witness the slow growth in the orthopedic biomaterials market.

Asia Pacific is expected to record the highest CAGR over the forecast period. Growing healthcare industry in Japan, budding demand for cosmetic and plastic surgeries in India and less stringent tax policy in China and escalating elderly population drives the orthopedic biomaterials market significantly in this region.

Key Players & Strategies

Major players in orthopedic biomaterials are Acumed, LLC. Medtronic plc, Globus Medical, Inc., Stryker Corporation, Koninklijke DSM N.V., Exactech, Inc., Johnson & Johnson, Zimmer Biomet, Wright Medical Group, Inc., and NuVasive, Inc. among others. In July 2020, Medtronic plc, a global leader in medical technology acquired Medicrea. This acquisition would strengthen the Medtronic’s position as global innovator in enabling technologies and solutions for the spine surgery. Stryker acquired Mako Surgical Corp. in order to construct total knee and total hip replacement robotic products. Further, in year 2016, Zimmer Biomet acquired LDR Holdings to make their spine segment stronger and enhance growth of its sports medicine segment.

Segments Covered in the Report

This research report incorporates complete review of the market with the help of broad qualitative and quantitative understandings, and projections regarding the market. This report presents breakdown of marketplace into potential and niche sectors. Further, this research study analyzes market revenue and its growth trend at global, regional, and country from 2016 to 2027. This report includes market segmentation and its revenue estimation by classifying it based on end-use and region as follows:

By Material Outlook

  • Polymers
  • Ceramics & Bioactive Glasses
  • Calcium Phosphate Cement
  • Composites
  • Metal

By Application Outlook

  • Orthobiologics
  • Orthopedic Implants
  • Viscosupplementation
  • Joint Replacement
  • Bio-resorbable Tissue Fixation

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Middle East & Africa
  • Latin America

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

Why Buy this Report?

The purpose of Precedence Research’s orthopedic biomaterials market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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Precedence Research

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. Email: sales@flairinsight.com

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