Yahoo Finance Orthopedic Biomaterials Global Market Report 2023
Major players in the orthopedic biomaterials market are Zimmer Biomet Holdings Inc., Stryker Corporation, Victrex PLC (Invibio Ltd.), Globus Medical Inc., CAM Bioceramics B.V., Heraeus Holding GmbH, Exactech Inc.
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Orthopedic Biomaterials Global Market Report 2023" - https://www.reportlinker.com/p06280851/?utm_source=GNW
, Collagen Matrix Inc., Evonik Industries AG, and Koninklijke DSM N.V. (DSM Biomedical B.V.).
The global orthopedic biomaterials market is expected to grow from $15.34 billion in 2021 to $16.90 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The orthopedic biomaterials market is expected to grow to $25.90 billion in 2026 at a CAGR of 11.3%.
The orthopedic biomaterials market consists of sales of glass-ceramic and bioactive glasses and calcium phosphate cements.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Orthopedic biomaterials are materials intended to be inserted into the human body as constituents of devices designed to perform certain biological functions by either substituting or repairing various tissues, such as bones, cartilage, ligaments, tendons, and others.
North America was the largest region in the orthopedic biomaterials market in 2022.Western Europe was the second largest region in the orthopedic biomaterials market.
The regions covered in the orthopedic biomaterials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The orthopedic biomaterials market covered in this report is segmented by material type into ceramics and bioactive glasses, calcium phosphate cement, polymers, metal, and composites.Polymers are used as orthopedic biomaterials intended to be inserted into the human body as constituents.
The various applications are orthopedic implants, joint replacement/reconstruction, bio-resorbable tissue fixation, orthobiologics, and viscosupplementation. These are used by various end-users such as hospitals, clinics, and others.
The rise in the incidence of musculoskeletal disorders is expected to drive the orthopedic biomaterials market.According to the World Health Organization (WHO) report, musculoskeletal conditions are the leading contributor to disability worldwide.
About 20-33% of the population suffer from a musculoskeletal disability.Musculoskeletal disorders induce fractures, swelling, and discomfort in the joints, ligaments, and tendons that cause movement disabilities.
The burden of musculoskeletal conditions is known to increase with age.The sustainable development goals (SDGs) and the Decade of Healthy Ageing 2020–2030 have called for increased global attention and action on musculoskeletal health.
Biomaterials are used to treat these disorders. Hence, the incidence of musculoskeletal disorders is projected to drive the orthopedic biomaterials market.
The high cost of conducting clinical trials is expected to hinder the biomaterials market growth.The orthopedic biomaterials are directly implanted in the body.
Therefore, it is important to prove the safety and biocompatibility of these materials.However, the high cost of conducting clinical trials is acting as a major roadblock.
The clinical studies are expensive and time-consuming due to the number of tests required, and the length of each test.The investment of resources, time, and funding grows with successive stages.
Additional costs are associated with the result of the trials at different phases. For instance, the cost of a failed phase 3 trial is not just the cost associated with the trial itself but the cost of all prior trials as well as the cost of lost time pursuing a potentially viable alternative or repeating the steps. Therefore, the high cost of conducting clinical trials is expected to impact the orthopedic biomaterials market.
3D printing of orthopedic implants is one of the recent developments in the orthopedic biomaterials market. 3D printing technology is used to produce a large range of medical equipment, such as those with complicated structures or characteristics to suit a patient’s particular anatomy. 3D printing of orthopedic implants enables the design of more natural anatomical shapes, as well as the design of porous bone replacement scaffolds that can be easily integrated into the design of the implant. This allows natural bone regeneration to generate higher reliability of the implant. 3D printing of orthopedic implants is a trend in the orthopedic biomaterial market that is attracting many players. For instance, Evonik, a Germany-based chemical company has invested in Meditool, a Chinese-based 3d printed implant start-up that produces models and implants by using polyether ketone (PEEK) polymer supplied by Evonik.
In November 2020, Olympus, a Japanese medical technology company, acquired FH Ortho for an undisclosed amount.The acquisition would help Olympus to grow in the field of orthopaedic minimally invasive surgery.
FH Ortho is a France based orthopaedics company.
The countries covered in the orthopedic biomaterials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The orthopedic biomaterials market research report is one of a series of new reports that provides orthopedic biomaterials market statistics, including orthopedic biomaterials industry global market size, regional shares, competitors with a orthopedic biomaterials market share, detailed orthopedic biomaterials market segments, market trends and opportunities, and any further data you may need to thrive in the orthopedic biomaterials industry. This orthopedic biomaterials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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