Orthopedic Biomaterial Market Size to Reach USD 29.62 Billion in 2028 Growing at a CAGR of 9.4%, according to Emergen Research
Emergen Research has published its latest report titled “Orthopedic Biomaterial Market By Material Type (Polymers, Ceramics & Bioactive Glasses, Composites, Metal, Calcium Phosphate), By Application (Orthopedic Implants, Orthobiologics, Joint Reconstruction/Replacement, Bio-resorbable Tissue Fixation, Visco Supplementation), By End-Use (Hospitals, Specialty Clinics, Ambulatory Surgical Centers), and By Region, Forecast to 2028”
According to Emergen Research, the global orthopedic biomaterial market size was USD 14.39 Billion in 2020 and is expected to reach USD 29.62 Billion in 2028 and register a revenue CAGR of 9.4% during the forecast period, 2021-2028.
Orthopedic biomaterials are implanted in the human body that are designed to fulfil certain biological activities by replacing or mending various tissues such as cartilage, bone, tendons and ligaments, and even directing bone repair when necessary. The increasing number of patients suffering from osteoarthritis, osteoporosis and musculoskeletal disorders have boosted demand for orthopedic biomaterials in regeneration and reconstruction of bones. According to the Centers for Disease Control and Prevention (CDC), about 32.5 million individuals in the United States (US) suffer from osteoarthritis. Biomaterials in orthopaedics are often chosen for their strength or for their ability to replicate the structure and characteristics of bone.
In addition, advancements in bio implant engineering, growing popularity of 3D printed orthopedic implants and increasing research activities on the development of smart biomaterials and bone tissue engineering are some factors expected to positively impact orthopedic biomaterial market revenue growth over the forecast period. Further, 3D printing and nanotechnology-driven biomaterials has improved the performance of an orthopaedic implant. Increasing government investments on research activities for better understanding and modulation of immune responses to biomaterials is expected to result in a better integration of implants into host tissues. However, high cost associated with orthopaedic implants, unfavorable government regulations and lack of medical reimbursements are some factors expected to restrain orthopedic biomaterial market over the forecast period.
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COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Ceramic Biomaterials Segment Revenue to Expand at a Rapid CAGR:
Ceramic biomaterials segment is expected to expand at a rapid CAGR over the forecast period. Because of their physico-chemical characteristics, ceramics have a wide range of applications as biomaterials. Its hardness and abrasion resistance make it suitable for replacing bones and teeth. Ceramics are very durable, able to withstand tremendous pressures, and highly corrosive substances that make it particularly suitable for implants.
Orthopedic Implants Segment to Register Significant Revenue Growth:
Orthopedic implants segment is expected to register significant revenue growth over the forecast period due to its numerous advantages including high fatigue resistance, corrosion-proof, biocompatible and chemically inert. An orthopaedic implant is used to replace a bone, joint, or cartilage that has been damaged or deformed due to injury such as a limb loss, a broken leg, or a congenital condition.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period due to ongoing technological developments in healthcare equipment related to the treatment of orthopedic disorders, growing elderly population and rising health care expenditure. In addition, presence of key players in the region and growing demand for novel orthopedic surgical solutions are some other factors drive market growth in the countries such as the U.S. in the region.
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Major Companies in the Market Include:
- Evonik Industries AG
- Zimmer Biomet
- Matexcel, Globus Medical
- Stryker Corporation
- DSM Biomedical
- Invibio Ltd.
- CAM Bioceramics BV
- DePuy Synthes
- ExaTech Inc.
For the purpose of this report, Emergen Research has segmented the global orthopedic biomaterial market bases on 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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