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Home » Press Releases » Orthopedic Biomaterials Market worth $ 39.11 billion by 2030.

Orthopedic Biomaterials Market worth $ 39.11 billion by 2030.


Published Date: Mar-2022 | Report Format:Electronic (PDF)

The report ‘Orthopedic Biomaterials’ Market by Material Type (Ceramics & Bioactive Glasses, Polymers, Calcium Phosphate Cement, Metal, Composites), by Application (Orthopedic Implants, Joint Replacement/Reconstruction, Orthobiologics, Viscosupplementation, Bio-resorbable Tissue Fixation)- Global Forecast to 2030. The Global Orthopedic Biomaterials Market is estimated to reach a market value of USD 39.11 billion by 2030 from USD 14.56 billion in 2020, at a CAGR of 10.36% during the forecasted period. As the world's senior population expands, more people are projected to suffer from joint problems, fueling the market growth. According to research issued in 2019 by the United Nations Department of Economic and Social Affairs, there are approximately 703 million people aged 65 and more, which is predicted to climb by 1.5 billion by 2050. Furthermore, the expansion of the orthopedic biomaterial market is being driven by an increase in the number of sports injuries, an increase in the number of cases of trauma from an accident, and an increase in orthopedic treatments such as joint reconstruction and joint arthroplasty.

To know more about the report, Click on the link https://www.strategicmarketresearch.com/market-report/orthopedic-biomaterials-market

 

The ceramics & bioactive glass segment led the market in 2020, owing to the increased popularity of ceramics in the restoration of hard tissues in various treatments.

A growth in minimally invasive spine surgery employing glass-ceramic & bioactive glasses, an increase in interbody fusion procedures, and an increase in the usage of synthetic cages or Bone Allografts for spine surgery are predicted to drive the segment throughout the forecasted period. Due to the increasing use of polymers as bone cement and load-bearing surfaces in total joint arthroplasties, the polymer segment is likely to develop at the quickest rate throughout the forecasted period.

 

The joint replacements testing industry led the market in 2020 due to the large procedural volume of joint replacements.

According to the American Joint Replacement Registry, the number of procedures for joint replacement in the United States increased by 57.7% from 2012 to 2016. In 2016, there were 281,746 procedures performed, up from 45,517 in 2012. Furthermore, due to the increasing number of bone repair cases and reconstruction procedures performed globally as a result of obesity and trauma cases, the orthobiologics segment is expected to grow at the fastest pace of 10.8% throughout the forecasted period. According to WHO statistics, around 1.3 million people die each year as a result of road traffic accidents worldwide, with middle and low-income countries accounting for 93 percent of all road fatalities.

 

North America is predicted to have the largest orthopedic biomaterials market share in 2020, with a robust CAGR over the next few years.

This development can be attributed to the rising numbers of patients requiring knee replacement, reconstruction, and other joint-related orthopedic procedures. The growing use of advanced products for load-bearing implant purposes is expected to drive growth in the regional market. Asia Pacific is predicted to be the fastest-growing regional market, with a CAGR of 11.8 percent over the forecasted period.

 

Key Market Players are B. Braun Melsungen AG, CONMED Corp., Evonik Industries AG,  Medtronic Plc., Smith & Nephew Plc., Stryker Corp., Victrex Plc., Zimmer Biomet Holdings Inc., Globus Medical, Heraeus Holding GmbH, Exactech Inc., Collagen Matrix Inc., Invibio Ltd., DePuy Synthes

 

Recent Developments

  • In November 2019, Stryker, an American Fortune 500 medical equipment company, said that it had struck a definitive agreement to purchase Wright Medical for $5.4 billion. This acquisition will assist Stryker's orthopedic segment in surviving and thriving while also increasing the exposure for Wright Medical's extremities and biologics technology.
  • In November 2019, DiFusion got FDA approval for the Xiphos-ZF spinal interbody device, making it the first spinal implant manufactured from the biomaterial Zfuze.

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