Orthopedic Biomaterials Market

Orthopedic Biomaterials Market Segmentation by Material (Ceramics & Bioactive Glasses, Polymers, Metals, and Calcium Phosphate Cements); and by Application (Joint Reconstruction, Bio-Resorbable Tissue Fixation, and Orthopedic Implants) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3547 | Published On: Sep 15, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • September 15, 2021- Stryker Corporation launched Citrelock Tendon Fixation Device System, which provides surgeons a differentiated design as it uses resorbable technology.

  • March 12, 2020- Evonik developed new osteoconductive polyether ether ketone (PEEK) biomaterial for a variety of medical applications.


Global Orthopedic Biomaterials Market Highlights 2022 – 2030

The global orthopedic biomaterials market is estimated to generate a substantial revenue by expanding at a CAGR of ~9% over the forecast period, i.e., 2022 – 2030. The surge in incidences of musculoskeletal disorders and other chronic skeletal conditions, coupled with rapidly increasing geriatric population are the primary factors expected to augment the market growth in the upcoming years. According to the World Health Organization, as of 2021, approximately 1.71 billion people have musculoskeletal conditions worldwide. Among musculoskeletal disorders, low back pain causes the highest burden with a prevalence of 568 million people. Along with these, increasing number of trauma cases as a result of accidents and sports is also attributed to raise the demand for biomaterials used in orthopedic implants in the future. Furthermore, notable innovations in the regenerative medicine space and cell-based techniques have paved the way for efficient solutions for treating a wide range of diseases. This is giving rise to the integration of implants made from orthopedic biomaterials into several treatment procedures, which in turn is predicted to play an imperative role in offering profitable business opportunities to the market.    

Orthopedic Biomaterials Market

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The market is segmented by materials into ceramics & bioactive glasses, polymers, metals, and calcium phosphate cements, out of which, the ceramics & bioactive glasses segment is anticipated to hold the largest share in the global orthopedic biomaterials market. This can be accounted to the growing adoption of these materials in spine surgery and interbody fusion methods. Apart from these, escalating usage of pedicle screws and synthetic cages during fixation procedures is also assessed to foster the growth of the market segment. Additionally, on the basis of application, the orthopedic implants segment is evaluated to occupy the largest share owing to the increasing occurrence of disc degenerative conditions and bone fractures, along with rising trauma cases and road traffic crashes. As per the American Association for the Surgery of Trauma, road traffic crashes kill 1.2 million people annually around the world (3242 people a day), and 90% of these deaths are in low- or middle-income countries. 


Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.


Global Orthopedic Biomaterials Market Regional Synopsis

On the basis of geographical analysis, the global orthopedic biomaterials market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing prevalence of bone degenerative diseases in the region’s low- and middle-income economies. In addition, continuous hike in healthcare expenditure and significant improvements in the medical infrastructure are also projected to propel APAC’s market growth in the future. Moreover, the market in North America is anticipated to grab the largest share during the forecast period. Increasing target population, intensifying geriatric population, and large number of pharmaceutical companies are expected to contribute significantly to the region’s market growth in the future. As per the United States Census Bureau, around 40.3 million U.S. residents were 65 years and older in 2010, which increased up to 54.1 million in July, 2019.

The global orthopedic biomaterials market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Orthopedic Biomaterials Market
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Market Segmentation

Our in-depth analysis of the global orthopedic biomaterials market includes the following segments:

By Material

  • Ceramics & Bioactive Glasses
  • Polymers
  • Metals
  • Calcium Phosphate Cements

By Application

  • Joint Reconstruction
  • Orthobiologics
  • Viscosupplementation
  • Bio-Resorbable Tissue Fixation
  • Orthopedic Implants


Growth Drivers
  • Rising Incidences of Musculoskeletal Disorders and Other Chronic Skeletal Conditions
  • Increasing Geriatric Population Globally

Challenges

  • Lack of Reimbursement Regarding Orthopedics


Healthcare Expenditure
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Top Featured Companies Dominating the Market

    • Evonik Industries AG
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Stryker Corporation
    • DePuy Synthes Inc.
    • Zimmer Biomet Holdings Inc.
    • Invibio Ltd.
    • Koninklijke DSM N.V.
    • Victrex Plc.
    • Heraeus Holding GmbH
    • Exactech Inc.
    • Collagen Matrix Inc.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the orthopedic biomaterials market?

Ans: The major factors driving market growth are rising incidences of musculoskeletal disorders and other chronic skeletal conditions and increasing geriatric population globally.

2) What would be the CAGR of orthopedic biomaterials market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022 – 2030.

3) What are the challenges affecting the orthopedic biomaterials market growth?

Ans: Lack of reimbursement related to orthopedics is estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of orthopedic biomaterials market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the growing prevalence of bone degenerative diseases in the region’s low- and middle-income economies.

5) Who are the major players dominating the orthopedic biomaterials market?

Ans: The major players in the market are Evonik Industries AG, Stryker Corporation, DePuy Synthes Inc., Zimmer Biomet Holdings Inc., Invibio Ltd., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the orthopedic biomaterials market?

Ans: The market is segmented by material, application, and by region.

8) Which segment captures the largest market size in the application segment in the orthopedic biomaterials market?

Ans: The orthopedic implants segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.

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