The orthopedic biomaterials market is projected to grow at a rate of 8.70% in terms of value, from 2023 to reach USD 28.38 Billion by 2032. The growth of the market may be attributed to the rise in the prevalence of target conditions.
Rising occurrences of chronic skeletal conditions are anticipated to drive the market growth in the forecast period. Skeletal fragility related to childhood chronic disease is a general disorder of poor bone growth and decrease in bone turnover, resulting in abnormal geometry, bone mass, and microarchitecture.
Rise in the geriatric population is one of the significant factors influencing market growth. It has been estimated that by 2050 approximately 16% of the global population will be aged more than 65 years, which is expected to increase fivefold since 1950. Forecasts from the World Health Organization (WHO), United Nations (UN), and the EU commission all indicate aging as a significant challenge for society, which demands concentrated efforts to meet the requirements of the elderly. Heart disease, cancer, and stroke have been the primary chronic conditions that have had the highest impact on the geriatric population, particularly in high-income countries. Thus, the increasing prevalence of diseases in the growing geriatric population is likely to propel the growth of the market in the forecast period.
North America held the largest market share in 2023 and is likely to grow at a significant rate in the forecast period. The market dominance of North America is owing to the presence of advanced healthcare facilities and increasing acceptance of new technologies in the region.
Key Coverage of the Report
- Region and country wise statistics of orthopedic biomaterials from the period 2023-2032. While 2022 & 2032 has been utilized as historical data, 2023 is considered the base year. 2023-2032 have been derived as forecasts.
- Estimation of the market size along with historic and forecasted trend analysis.
- Various types of applications have been analyzed. Statistical analysis has been conducted on obtaining the individual share of these segments.
- Share of individual end-users has been estimated.
- Healthcare Regulatory framework of each region.
- Regional up-coming outlook.
- Status of on-going trials and developments.
- Regional prevalence of orthopedic biomaterials has been mapped.
- Regional Competitors Pricing Strategy
- Demand and Supply GAP Analysis
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments.
Salient Trends of the Orthopedic Biomaterials Market
- Of late, developments in 3-D printing/additive production, infection prevention strategies, surface bio-functionalization techniques, biodegradable metallic biomaterials, and composite biomaterials have offered several opportunities to develop biomaterials and medical devices with exceptional combinations of advantageous properties and innovative functionalities.
- Increased grants and funding by government bodies and universities for the research and development of innovative biomaterials are likely to boost market demand.
- Rising occurrences of trauma cases from falls, accidents, and sports is expected to drive the market growth in the future.
- Growing healthcare expenditure and improving health infrastructure are predicted to be instrumental in propelling market demand.
- In April 2023, Evonik, a leading market player and provider for advanced biomaterials and application technology solutions for bioresorbable implants, proclaimed the launch of its first product grade from the new line of RESOMER® Composite polymers, which is likely expected to empower Evonik to support medical device customers across the globe to improve the performance of orthopedic applications deployed to heal or grow bones.
- In September 2023, Zimmer Biomet Holdings, Inc., a leading market player and provider of musculoskeletal healthcare, announced the receiving of FDA 510(k) approval for the Persona® Revision Knee System for procedures related to revision knee replacement.
Companies considered and profiled in this market study
Evonik Industries AG, Zimmer Biomet, Globus Medical, Stryker, DSM Biomedical, Invibio Ltd., CAM Bioceramics BV, DePuy Synthes Inc., Matexel, and Exactech Inc., among others.
- The valuation for the orthopedic biomaterials market was USD 11.91 billion in 2023, and it is expected to reach USD 28.38 Billion by 2032.
- By material type, the polymeric orthopedic biomaterials are estimated to grow at the fastest rate of 10.2% in the forecast period. The most important characteristic of polymeric biomaterials is its flexibility in modifying its physical, mechanical, and chemical properties by synthesis of its functional groups in accordance with the regeneration potential of any tissue of the organs.
- By application, orthobiologics is anticipated to witness the fastest growth rate of 10.4% in the period 2023-2032. Orthobiologics are deployed to improve the healing of broken bones and injured muscles, ligaments, and tendons. These products are produced from substances naturally found in the human body.
- By end-users, ambulatory surgical centers are likely to experience the fastest growth rate of 10.1% in the forecast period.
- The market in the Asia Pacific region is projected to grow at the fastest rate of 10.4% in the forecast period, due to the improving healthcare infrastructure, rising investments in diagnostic imaging, and better reimbursement scenario.
- The market in Europe is likely to grow at a rate of 8.8% in the forecast period.
- Stringent regulatory norms may create hindrances in the growth of the market in the forecast period.
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2023 to 2032. For the purpose of this study,have segmented the global orthopedic biomaterials market on the basis of material type, application, end-users, and region:
Material Type Outlook (Revenue, USD Million; 2023-2032)
- Metallic Orthopedic Biomaterials
- Ceramic & Bioactive Biomaterials
- Polymeric Orthopedic Biomaterials
- Composite Orthopedic Biomaterials
Application Outlook (Revenue, USD Million; 2023-2032)
- Orthopedic Implants
- Joint Reconstruction/Replacement
- Visco Supplementation
- Bio-Resorbable Tissue Fixation
End-Users Outlook (Revenue, USD Million; 2023-2032)
- Ambulatory Surgical Centers
Regional Outlook (Revenue, USD Million; 2023-2032)
- North America
- Asia Pacific
- Latin America