Orthopedic Biomaterials Market Size Expected to Reach USD 29.62 Billion in 2028 | Emerging research
Increasing geriatric population and increasing occurrence of musculoskeletal disorders such as osteoporosis and osteoarthritis in the world are some of the key factors that are expected to drive the market revenue growth
According to Emergen Research, the global orthopedic biomaterials market size was $ 14.39 billion in 2020 and is expected to reach $ 29.62 billion in 2028 and record CAGR revenue of 9.4% in the forecast period, 2021. -2028.
The revenue growth of the global orthopedic biomaterials market is mainly attributed to the rapid growth of the geriatric population in the world, the increasing incidence of musculoskeletal disorders such as osteoarthritis and osteoporosis, and the increase the number of falls, traffic accidents, fractures, sports injuries and traumatic tissue injuries. Rising demand for orthopedic biomaterials in healthcare industry and increasing use of orthopedic biomaterials in repair, reconstruction and regeneration of damaged tissue are other major factors driving the revenue growth of the global market orthopedic biomaterials.
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Orthopedic biomaterials are organic or synthetic materials used in medical procedures such as orthopedic surgeries to help repair, regenerate, or restore the structural integrity of tissues and bones. These materials perform various biological functions in the body by replacing damaged tissue, bones, ligaments or tendons. The main fields of application for orthopedic biomaterials include spine implants, joint replacement, orthobiologic products, fixation of bioabsorbable tissues and viscosupplementation. Therefore, increasing volumes of orthopedic surgeries including joint reconstruction, joint replacement and viscosupplementation, and rapid adoption of new generation highly advanced orthopedic biomaterials are expected to further contribute to market revenue growth in the market. during the forecast period.
COVID-19 impact analysis:
- Social distancing and restrictions have severely disrupted businesses and operations
- The closures have caused disruption in transportation and logistics
- Global Manufacturing and Mining Operations Affected
- Took a toll on the economy of various countries
- Caused a sudden and drastic slowdown in economic activity
- Agriculture, fishing, dairy and other disrupted sectors
- Caused job loss and financial crisis
- The impacts on supply have worsened further due to the drop in disposable income
- The emergence of variants continues to cause concern and impact normal routines
The bioactive ceramics and glasses segment will account for the largest share of revenue:
On the basis of material type, the ceramic and bioactive glasses segment is expected to account for the largest revenue share of the global orthopedic biomaterials market during the forecast period. The increasing use of ceramic biomaterials in the regeneration, replacement or repair of bones and tissues due to their superior biocompatibility and high corrosion resistance is one of the key factors that are expected to drive the growth of the bone and tissue segment. ceramic and bioactive glasses.
Sales of Orthopedic Implants Application Segment will grow at a rapid CAGR:
On the basis of applications, the orthopedic implants segment is expected to dominate in terms of revenue in the global orthopedic biomaterials market during the forecast period. The increase in cases of orthopedic conditions such as bone fractures, the increasing prevalence of musculoskeletal disorders and the increasing volumes of bone repair and reconstruction surgeries are expected to drive the growth of the orthopedic implant segment to a large extent.
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North America accounted for the largest share of revenue in 2020:
Among the regional markets, the North American orthopedic biomaterials market accounted for the largest revenue share of the global market in 2020. The revenue growth of the regional market is mainly attributed to the increasing prevalence of bone disorders and degenerative diseases – in particular in geriatric and obese people – an increasing number of orthopedic procedures such as joint reconstruction, joint replacement and knee replacement and reconstruction, increased health expenditure for individuals and the presence of advanced health infrastructure In the region.
The main companies in the market include:
- Evonik Industries SA
- Zimmer Biomet
- Globus Medical
- Stryker Company
- DSM Biomedical
- Invibio Ltd.
- CAM Bioceramic BV
- DePuy Synthes
- ExaTech Inc.
For the purpose of this report, Emergen Research has segmented the global orthopedic biomaterials market on the basis of material type, application, end use, and region:
Outlook Material Type (Revenue, USD Billion; 2018-2028)
- Composite materials
- Calcium phosphate
- Ceramics & Bioactive Glasses
Application Outlook (Revenue, USD Billion; 2018-2028)
- Orthopedic implants
- Joint reconstruction / replacement
- Bio-absorbable tissue fixation
- Visco supplementation
End-Use Outlook (Revenue, USD Billion; 2018-2028)
- Specialized clinics
- Outpatient surgical centers
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- The rest of europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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