Orthopedic Biomaterial Market Size, Share, Top Key Players, Growth, Trend and Forecast Till 2028 | Globus Medical, Stryker Corporation, DSM Biomedical, Invibio Ltd., etc
The Global Orthopedic Biomaterial Market Research Report provides a brief overview inclusive of the competitive landscape and key developments, policies, manufacturing costs, and processes. The report also provides the analysis of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue, and gross margins. The report further discusses in detail the driving factors influencing the growth of the market currently and in the coming years.
The Global Orthopedic Biomaterial Market size is expected to reach USD 29.62 Billion at a steady CAGR of 9.4% in 2028, according to latest analysis by Emergen Research. Steady revenue growth of the orthopedic biomaterial market can be attributed to rising incidence of musculoskeletal disorders. Musculoskeletal disorders are the primary causes of disability across the globe, with about 1.71 billion individuals current sufferers.
Musculoskeletal disorders substantially restrict deftness and mobility, resulting in decreased well-being, reduced social participation, and early retirement from the job. Orthopedic biomaterials are witnessing high demand owing to their use in regeneration, reconstruction, and repair applications of musculoskeletal disorders caused by falls, jerking movements, road accidents, fractures, sports injuries to prevent traumatic tissue damage/loss.
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Top players profiled in the report include:
- Evonik Industries AG
- Zimmer Biomet
- Globus Medical
- Stryker Corporation
- DSM Biomedical
- Invibio Ltd.
- CAM Bioceramics BV
- DePuy Synthes
- ExaTech Inc.
The growing geriatric population is significantly driving demand for orthopedic biomaterials due to rising prevalence of conditions such as osteoarthritis and osteoporosis that can significantly impair the well-being of elderly individuals. By 2050, around 16% of the global population is expected to be aged 65 years and over. According to World Health Organization (WHO), the European Union (EU) Commission, and United Nations (UN), aging poses a substantial societal challenge, which requires focused efforts to meet needs of the elderly. Growing worldwide recognition of multi-morbidity of the geriatric population such the musculoskeletal disorders is fueling growth of the orthopedic biomaterial market.
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Some Key Highlights in the Report
- In March 2020, Evonik Industries AG made an announcement about the development of an innovative osteoconductive PEEK biomaterial, which may be used to enhance bone fusion with an implant.
- Ceramic biomaterials are garnering significant traction in the market, attributed to their biocompatibility and improved corrosion resistance. Ceramic biomaterials find application to promote the regeneration of bones or replace bones. Additionally, nano-bioceramics holds vast potential in tissue regeneration and restoration of physiological functions of the human body.
- Orthopedic biomaterials in bio-resorbable tissue fixation find wide use to treat fractures and other orthopedic disorders due to various benefits such as elimination of procedures involving hardware removal, restriction of stress-shielding, and gradual load transfer to healing fractured tissues.
- Orthopedic biomaterials market revenue in Asia Pacific is expected to register the fastest CAGR during the forecast period attributed to rising incidence of chronic orthopedic conditions and increasing investments in healthcare infrastructure development in developing economies. Additionally, rising disposable income and growing demand for novel orthopedic surgical solutions are fueling market growth in the region.
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Emergen Research has segmented the global orthopedic biomaterial market on the basis of material type, application, end-use, and region:
Material Type Outlook (Revenue, USD Billion; 2018–2028)
- Ceramics & Bioactive Glasses
- Calcium Phosphate
Application Outlook (Revenue, USD Billion; 2018–2028)
- Orthopedic Implants
- Joint Reconstruction/Replacement
- Bio-resorbable Tissue Fixation
- Visco Supplementation
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Specialty Clinics
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Highlights of Table of Contents (TOC):
- Overview of Global Orthopedic Biomaterial Market
- Competitive analysis of the Orthopedic Biomaterial market
- Regional analysis of Global Orthopedic Biomaterial market production and revenue
- Regional analysis of Global Orthopedic Biomaterial market supply, consumption, and export & import
- Type-based market analysis of global Orthopedic Biomaterial production, revenue, and price trends
- Application-based analysis of the global Orthopedic Biomaterial market
- Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Orthopedic Biomaterial market
- Global Orthopedic Biomaterial market forecast (2020-2028)
- Conclusion of the research report
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