The Orthopedic Biomaterials Market is expected to register a CAGR of 7.5% during the forecast period. This is attributing to the rising prevalence of the geriatric population, growing incidences of musculoskeletal injuries, and rising number of patients opting for knee replacement, construction, and other joint-related orthopedic procedures. As a growing geriatric population around the world is more susceptible to have joint problems thereby promoting the growth of the market. As per the United Nations Department of Economic and Social Affairs, a report was published in 2019 which says that at present 703 million people are aged 65 or older which is going to be increased by 1.5 billion by 2050. Moreover, rising number of sports injuries, an increasing number of cases of trauma from an accident, and growing orthopedic surgeries like joint reconstruction, joint arthroplasty is also creating a huge demand for orthopedic biomaterial thus triggering the revenue growth of the orthopedics biomaterial market. However, the lack of reimbursement associated with this orthopedics may hamper the market to a certain extent.
Key Market Trends
Ceramics & Bioactive Glasses in Orthopedic biomaterial is Estimated to Witness a Healthy Growth in Future.
Ceramics & bioactive glasses are estimated to witness healthy growth in the future which is attributed to increasing adoption in several procedures such as spine surgery procedure, interbody fusion procedures. In addition, an increase in the usage of synthetic cages and pedicle screws during fixation procedures is driving the segment growth. Use of synthetic cages and pedicle screws is to maintain the stability in the target patient pool and increase the fusion rate of allografts.
In Addition, polymers segment is also expected to witness a lucrative opportunity in the forecast period owing to extensive use in bone cement and load-bearing surface for joint arthroplasties. Moreover, the wider availability of advanced polymers and biopolymers for several applications such as bioresorbable tissue fixation and ortho biologics will result in high demand for polymers and propel the segment growth.
As per National Safety Council (NSC) the presence of such a huge number of sport injuries around worldwide will promote the adoption of orthopedic biomaterial for diagnosis and treatment and further leading to drive the overall market.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global Orthopedic Biomaterials Market due to the increasing number of the target population, rising geriatric population, high adoption of advanced products associated with orthopedics, and the presence of a large number of pharmaceutical companies operating in orthopedics. The United States owns the largest share of the Orthopedic Biomaterials Market in the North America region Furthermore, well-established healthcare infrastructure, rising health care expenditure, and high frequency of sports injuries in the United States are fueling the market growth.
The Orthopedic Biomaterials Market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Koninklijke DSM N.V., Zimmer Biomet, Stryker, Invibio Ltd., Evonik Industries, DePuy Synthes, Cam Bioceramics, Exactech, Inc, and Globus Medical Inc.
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1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Rising Prevalence of Geriatric Population
4.2.2 Growing Incidences of Musculoskeletal Injuries
4.3 Market Restraints
4.3.1 Reimbursement Policies
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.2 Ceramics & Bioactive Glasses
5.1.3 Calcium Phosphate Cements
5.2 By Application
5.2.2 Joint Replacement/Reconstruction
5.2.4 Orthopedic Implants
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6.1.1 Koninklijke DSM N.V.
6.1.2 Zimmer Biomet
6.1.4 Invibio Ltd.
6.1.5 Evonik Industries
6.1.6 DePuy Synthes
6.1.7 Cam Bioceramics
6.1.8 Exactech, Inc
6.1.9 Globus Medical Inc
A selection of companies mentioned in this report includes:
- Koninklijke DSM N.V.
- Zimmer Biomet
- Invibio Ltd.
- Evonik Industries
- DePuy Synthes
- Cam Bioceramics
- Exactech, Inc
- Globus Medical Inc