REPORT HIGHLIGHT
Orthopedic Biomaterial Market size was valued at USD 12,426.5 Million in 2022, expanding at a CAGR of 7.8% from 2023 to 2030.
Orthopedic biomaterials are substances or materials that are applied to the musculoskeletal system to replace or strengthen tissues including bone, cartilage, ligaments, tendons, and other structures that have been injured or are ill. They are utilized in a variety of orthopedic operations, including tissue engineering, spinal implants, fracture repair, and joint replacements.
Orthopedic Biomaterial Market- Market Dynamics:
Increasing prevalence of musculoskeletal disorders, and a growing aging population is expected to propel the orthopedic biomaterial demand.
Due to factors such the rising prevalence of musculoskeletal problems, an aging population, technological developments in biomaterials, and a growth in demand for minimally invasive procedures, the market for orthopedic biomaterials has been growing significantly. In addition, there is a growing movement toward personalized medicine in which biomaterials are developed to meet the specific needs of each patient. A prominent market driver for orthopedic biomaterials is the increase in musculoskeletal illnesses such osteoarthritis, rheumatoid arthritis, and osteoporosis. There is an increasing need for biomaterials that can repair or enhance these damaged tissues because these illnesses can impact bones, joints, ligaments, and tendons.
The need for joint replacements and other orthopedic operations is more common in older persons who are more susceptible to orthopedic disorders. The demand for implants and biomaterials that can improve mobility and quality of life is fueled in large part by the aging population, which is a primary market driver for orthopedic biomaterials. The discovery of new materials and Applicationion methods, along with improvements in biomaterials technology, have greatly fueled the expansion of the orthopedic biomaterial industry.
Orthopedic Biomaterial Market- Key Insights:
- As per the analysis shared by our research analyst, the global Orthopedic Biomaterial market is estimated to grow annually at a CAGR of around 7.8 % over the forecast period (2023-2030)
- The Orthopedic Biomaterial industry is projected to grow at a significant rate due to the growing focus on animal health and nutrition.
- Based on Application, Orthobiologics segment was predicted to show maximum market share in the year 2022.
- Based on End User, hospital segment is expected to hold significant market share by 2030.
- Based on Material Type segmentation, polymers segment was the leading in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
Orthopedic Biomaterial Market- Segmentation Analysis:
The Global Orthopedic Biomaterial Market is segmented on the basis of Material Type, Application, End User, and Region.
The market is divided into five categories based on Material Type: polymers, ceramics & bioactive glasses, calcium phosphate cement, metal, and others. The polymers segment dominates the market. Growing number orthopedic surgeries incidence is contributing to market growth.
The market is divided into five categories based on Application: orthobiologics, joint replacement/reconstruction, visco supplementation, orthopedic implants, and others. The orthobiologics segment dominates the market. Increasing prevalence of orthopedic disorders is influencing the market growth.
The market is divided into three categories based on End User: hospitals, clinics, and others. The hospitals segment dominates the market. Orthopedic biomaterials are widely used in hospitals for medical treatment, which is increasing the segment growth.
Orthopedic Biomaterial Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Orthopedic Biomaterial Market- Competitive Landscape:
Due to the growing healthcare expenditure, medical infrastructure across the globe, which influence the Orthopedic Biomaterial market. Product developers, including corporate websites, and applications, are used by businesses to sell their material types. Software or technology providers compete on various factors, such as advanced technology, and marketing. reputation, and availability. Some of the primary techniques, and strategies used by corporations to consolidate their reach and grow their market share include new software development, R&D expenditure, developing its distribution network and mergers & acquisitions. Some of the recent developments are mentioned below.
Recent Developments:
In February 2022, Orthofix Medical introduced a new synthetic bioactive bone graft solution, Opus BA, a mixture of carbonate apatite bone mineral, bioactive glass.
Key features of the study:
- This proposed research study on Orthopedic Biomaterial market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
- The report provides the client the latest up-to-date and trending insights about the Orthopedic Biomaterial market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Orthopedic Biomaterial market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Orthopedic Biomaterial market
- Impact of COVID-19 on Orthopedic Biomaterial market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Orthopedic Biomaterial market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Orthopedic Biomaterial market, we have also included competitive landscape and key innovator analysis for the Orthopedic Biomaterial market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial in Material Type and strategic initiatives of players operating in the Orthopedic Biomaterial market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Orthopedic Biomaterial market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ORTHOPEDIC BIOMATERIAL MARKET KEY PLAYERS
- Zimmer Biomet Holdings Inc.
- Stryker Corporation
- Smith & Nephew
- Baxter International
- DJO Global
- Olympus Corporation
- Exactech Inc.
- Invibio Ltd.
- Evonik Industries
- DePuy Synthes
- Cam Bioceramics
- Aap Implantate AG
- Collagen Matrix
- Exactech, Inc.
- Globus Medical Inc
GLOBAL ORTHOPEDIC BIOMATERIAL MARKET, BY MATERIAL TYPE
- Polymers
- Ceramics & bioactive glasses
- Calcium phosphate cement
- Metal
- Others
GLOBAL ORTHOPEDIC BIOMATERIAL MARKET, BY APPLICATION
- Orthobiologics
- Joint replacement/reconstruction
- Visco supplementation
- Orthopedic implants
- Others
GLOBAL ORTHOPEDIC BIOMATERIAL MARKET, BY END USER
GLOBAL ORTHOPEDIC BIOMATERIAL MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA