According to Precedence Research, the orthopedic biomaterials market size is expected to be worth around US$ 26.5 billion by 2027 and is growing at a CAGR of 9.83%.
According to Precedence Research, the orthopedic biomaterials market size is expected to be worth around US$ 26.5 billion by 2027 and is growing at a CAGR of 9.83%.
The surging usage of the orthopedic biomaterials for spine implants, tissue fixation, joint replacement, orthobiologics, and so on is driving the consumption of the orthopedic biomaterials. The increasing geriatric population, growing musculoskeletal disorders, rising injuries related to road traffic and physical activities, and rising awareness pertaining to the orthopedic biomaterials are some of the major drivers of the global orthopedic biomaterials market. Old age people are more susceptible to various musculoskeletal ailments and their healthcare expenditure is high. As per the Global Burden of Diseases study in 2017, musculoskeletal ailments were the leading contributors to the disability that accounted for 20% to 33% of the people. Furthermore, the development of next generation orthopedic biomaterials that are specifically designed to cater the specific requirement of an orthopedic procedure is augmenting the growth of the global orthopedic biomaterials market.
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Report Highlights:
- Based on the material, ceramics & bioactive glass segment led the global orthopedic biomaterials market in terms of revenue in 2019. This is primarily attributed to the higher adoption of the ceramics in treating the damage of hard tissues. The increased usage of the ceramics and bioactive glasses in various procedures such as interbody fusion procedures and spine surgeries has significantly boosted the growth of this segment. The surging utilization of the pedicle screws and synthetic cages in the fixation procedures has resulted in the huge demand for the ceramics and bioactive glasses.
- Based on the application, the orthopedic implants was the most dominant segment in 2019. The growing cases of bone fractures, disc degenerative conditions, and trauma cases has propelled the demand for the orthopedic biomaterials across the globe.
- North America dominated the global orthopedic biomaterials market in 2020 in terms of revenue. This is attributed to the presence of huge geriatric population coupled with the increased prevalence of various musculoskeletal disorders. It is estimated that the geriatric population in US is expected to reach around 95 million by 2050. Furthermore, the rising cases of injury related to sports activities has increased in US. As per the National Health Statistics Report in 2016, about 213 million people aged 6 years or above participated in the sports and other physical activities. Furthermore, the increasing volume of orthopedic surgeries in such as viscosupplementation, joint reconstruction, and joint arthroplasty has significantly driven the growth of the North America orthopedic biomaterials market.
- Asia Pacific is presenting a lucrative growth prospect in the forthcoming years. The rising participation of people in various sports and fitness activities, rising number of road traffic accidents, and rapidly growing geriatric population are some of the most prominent factors that are expected to drive the market growth. According to the World Health Organization, approximately 93% of the road traffic accidents occur in low and middle income countries. Furthermore, around 80% of the global geriatric population will be living in the low and middle income countries by 2050. The rising healthcare expenditure coupled with the surging awareness regarding the orthopedic procedures is expected to drive the market growth.
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Future of Orthopedic Biomaterials Market
The rising government initiatives to spread the awareness regarding the orthopedic biomaterials is expected to drive the market growth in the foreseeable future. For instance, the government of India, in 2019, selected a prototype of biodegradable orthopedic implant for its commercialization. The surging awareness regarding the cost-effective and safe biodegradable orthopedic implants will spur the demand significantly. The increasing demand from the highly populated and emerging nation like India and China will have a significant impact on the demand for the orthopedic biomaterials in the upcoming future.
COVID-19 Impact Analysis:
- The huge volume of hospital admissions owing to the rapid spread of the COVID-19 disease among the population resulted in the cancellation or extension of the orthopedic procedures that negatively impacted the orthopedic biomaterials market in 2020.
- The supply chain disruptions and hampered production adversely impacted the market during the pandemic.
Key Developments in the Marketplace:
- In November 2019, DiFusion acquired the FDA approval for its Xiphos ZF Spinal interbody device, which was made from biomaterial Zfuze.
- In September 2019, Zimmer Biomet acquired FDA approval for Persona Revision Knee System. This system utilized a unique and porous biomaterial named Trabecular Metal Technology that served the knee replacement procedures.
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
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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