According to Emergen Research, the global orthopedic biomaterial market size was USD 14.39 billion in 2020 and is expected to reach USD 29.62 billion in 2028 and register a revenue CAGR of 9.4% during the forecast period, 2021-2028.
The global Orthopedic Biomaterial Market revenue growth is primarily attributed to rapidly growing geriatric population worldwide, increasing incidence of musculoskeletal disorders such as osteoarthritis and osteoporosis, and increasing occurrence of falls, road accidents, fractures, sports injuries, traumatic tissue damage. Surge in demand for orthopedic biomaterials in the healthcare industry and growing use of orthopedic biomaterials in repair, reconstruction, and regeneration of damaged tissue are other major factors driving the global orthopedic biomaterial market revenue growth.
Orthopedic biomaterials are organic or synthetic materials used in medical procedures such as orthopedic surgeries to aid in the repair, regeneration, or restoration of the structural integrity of tissue and bones. These materials perform various biological functions in the body by substituting the damaged tissue, bones, ligaments, or tendons. Key application areas of orthopedic biomaterials include spine implants, joint replacement, orthobiologics, bio-resorbable tissue fixation, and viscosupplementation. Hence, increasing volumes of orthopedic surgeries including joint reconstruction, joint arthroplasty, and viscosupplementation, and rapid adoption of next-generation, highly advanced orthopedic biomaterials are expected to further contribute to market revenue growth over the forecast period.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Ceramics & Bioactive Glasses Segment to Account for Largest Revenue Share:
Based on material type, the ceramic & bioactive glasses segment is expected to account for the largest revenue share in the global orthopedic biomaterial market over the forecast period. Growing use of ceramic biomaterials in regeneration, replacement, or repair of bones and tissue owing to their superior biocompatibility and high corrosion resistance is one of the key factors expected to boost the ceramic & bioactive glasses segment growth.
Orthopedic Implants Application Segment Revenue to Expand at a Rapid CAGR:
Based on application, the orthopedic implants segment is projected to dominate in terms of revenue in the global orthopedic biomaterial market over the forecast period. Increasing cases of orthopedic conditions such as bone fractures, rising prevalence of musculoskeletal disorders, and increasing volumes of bone repair & reconstruction surgeries are expected to drive the orthopedic implants segment growth to a significant extent.
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North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America orthopedic biomaterial market accounted for the largest revenue share in the global market in 2020. The regional market revenue growth is mainly attributed to growing prevalence of bone disorders and degenerative diseases – especially among geriatric and obese people – increasing number of orthopedic procedures such as joint reconstruction, joint arthroplasty, and knee replacement & reconstruction, rising healthcare expenditures of individuals, and presence of advanced healthcare infrastructure in the region.
Major Companies in the Market Include:
- Evonik Industries AG
- Zimmer Biomet
- Matexcel
- Globus Medical
- Stryker Corporation
- DSM Biomedical
- Invibio Ltd.
- CAM Bioceramics BV
- DePuy Synthes
- ExaTech Inc.
For the purpose of this report, Emergen Research has segmented the global orthopedic biomaterial market on the basis of material type, application, end-use, and region:
Material Type Outlook (Revenue, USD Billion; 2018–2028)
- Polymers
- Composites
- Metals
- Calcium Phosphate
- Ceramics & Bioactive Glasses
Application Outlook (Revenue, USD Billion; 2018–2028)
- Orthopedic Implants
- Orthobiologics
- Joint Reconstruction/Replacement
- Bio-resorbable Tissue Fixation
- Visco Supplementation
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End-use Outlook (Revenue, USD Billion; 2018–2028)
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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Key Offerings of the Report:
- Detailed overview of market dynamics including drivers, restraints, opportunities, challenges, and growth prospects
- Analysis of the key strategic initiatives and competitive landscape including mergers & acquisitions, joint ventures, collaborations, product launches, and brand promotions, and partnerships, among others
- Comprehensive analysis of the industry outlook and analysis of the industrial chain
- Market forecast based on global, regional, and country-level market analysis
- Competitive landscape benchmarking
- In-depth analysis of the key market players with their product portfolios, financial positions, unique selling points, market share and size, and a comprehensive overview of their business
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