Yahoo Finance Orthopedic Biomaterials Market Size is expected to reach at USD 39,090 Million by 2030, registering a CAGR of 9.7%, Owing to Rising Incidence of Genetic Disorders
Acumen Research and Consulting recently published report titled “Orthopedic Biomaterials Market Analysis Report and Region Forecast, 2022 - 2030”
LOS ANGELES, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The Global Orthopedic Biomaterials Market Size accounted for USD 17,289 Million in 2021 and is estimated to achieve a market size of USD 39,090 Million by 2030 growing at a CAGR of 9.7% from 2022 to 2030.
Orthopedic Biomaterials Market Statistics
Global orthopedic biomaterials market revenue was worth USD 17,289 million in 2021, with a 9.7% CAGR from 2022 to 2030
North America region leads with more than 36% Orthopedic Biomaterials market share in 2021
Asia-Pacific region is projected to expand at a CAGR of 11% from 2022 to 2030
Among applications, the orthopedic implants segment has captured 34% of total market in 2021
By material type, the ceramics and bioactive glass segment accounted for more than 30% of revenue share in 2021
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Orthopedic Biomaterials Market Report Coverage:
Market | Orthopedic Biomaterials Market | |
Orthopedic Biomaterials Market Size 2021 | USD 17,289 Million | |
Orthopedic Biomaterials Market Forecast 2030 | USD 39,090 Million | |
Orthopedic Biomaterials Market CAGR During 2022 - 2030 | 9.7% |
|
Orthopedic Biomaterials Market Analysis Period | 2018 - 2030 | |
Orthopedic Biomaterials Market Base Year | 2021 |
|
Orthopedic Biomaterials Market Forecast Data | 2022 - 2030 | |
Segments Covered | By Material Type, By Application, And By Geography | |
Orthopedic Biomaterials Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
Key Companies Profiled | DePuy Synthes Inc., DSM Biomedical, Stryker Corp., Invibio Ltd., AdvanSource Biomaterials Corp., Zimmer Biomet, Globus Medical, Matexcel, Exactech, Inc., CAM Bioceramics B.V., Evonik Industries AG, and Heraeus Holding. | |
Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Orthopedic Biomaterials Market Overview
Orthopedic biomaterials are widely used in musculoskeletal health procedures. Musculoskeletal biomaterials created from synthetic or natural materials help to rebuild the main trustworthiness of bones that have been damaged by injury or illness. Musculoskeletal biomaterials are included in the internal organs as a component of devices designed to fill various organic jobs by replacing or mending various tissues such as bones, ligaments, ligaments, tendons, and others. The product's application areas include joint replacement, orthobiologics, viscosupplementation, spine inserts, as well as bio-resorbable tissue obsession.
Orthopedic Biomaterials Market Growth Factors
Growing incidence of musculoskeletal illnesses and condition
Rising use of nanomaterials in orthopedic bio-implants
Growing geriatric population
Orthopedic Biomaterials Market Dynamics
The rise in the prevalence of progressive neurodegenerative diseases and musculoskeletal problems is a primary driver of the orthopedic biomaterials market value. Furthermore, the expanding elderly population, which really is prone to orthopedic situations due to low bone strength and the emergence of bone-related disorders, is expected to enhance the supply of products over the projected timeframe.
Ceramics and bioactive glass was the largest product type segment in 2021, owing to increased demand for these products due to their increased pressure intensity. Furthermore, ceramic and bioactive glass nano-materials have a higher affinity for combining with the bone's material surface than their equivalents. The polymer biomaterial market is predicted to grow at the quickest CAGR between 2022 and 2030 due to its widespread use in the restoration and stabilization of the spine, hip, and knee.
Orthopedic implants dominated the implementation sector in 2021 and are expected to continue dominating throughout the projection period. An increasing number of occurrences of trauma is one of the key factors driving growth in this department. According to the orthopedic biomaterials market forecast, the orthobiology segment is expected to grow at a 10.5% CAGR between 2022 and 2030. The growing use of biomaterials in spinal as well as other reconstructive procedures in various orthobiological applications is likely to drive research in this area.
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Orthopedic Biomaterials Market Segmentation
The global orthopedic biomaterials market has been segmented by Acumen Research and Consulting based on material type, and application. By material type, the segment is separated into calcium phosphate cements, composites, ceramics & bioactive glasses, metal, and polymers.
In terms of application, the market is further categorized into joint replacement/reconstruction, viscosupplementation, orthopedic implants, orthobiologics, and bio-resorbable tissue fixation.
Orthopedic Biomaterials Market Share
North America accounted for the largest income share in 2021 due to a large patient pool and increased knowledge of the usage of biologically absorbable biomaterials.
Ceramics and the bioactive glass category resulted in the market in 2021 because of the increased usage of this biomaterial for the reconstruction of injured tissue and fixation procedures, as well as joint replacement surgery.
Orthopedic implants were the most important application category in 2021, owing to an increase in global trauma cases.
Orthopedic Biomaterials Market Regional Overview
The global orthopedic biomaterials market is separated into several geographic regions: North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa. According to the orthopedic biomaterials industry analysis, the North American orthopedic biomaterials market is growing. The Americas are separated into two regions: North America and South America. North America is made up of the United States and Canada. The rising prevalence of various orthopedic surgeries, combined with an aging population, is expected to accelerate the market. Furthermore, growing knowledge of biodegradable products enhanced medical, and rising demand for advanced treatments and technologies, combined with higher governmental support, are likely to fuel the growth of North America's orthopedic biomaterials market. As reported by the American Joint Replacement Registry, around 1.61.040 joint replacement procedures were performed in the United States in 2016.
Asia-Pacific is expected to be the fastest-growing market. The rise in chronic illnesses is the primary driving reason behind the industry's growth. Due to the growing number of patients, China is the largest growing country as the population grows. The industry in this region is being driven by increased safety awareness and the availability of new therapy techniques. Higher healthcare costs and rising living standards are driving the growth of the Asia-Pacific biomaterial orthopedics sector.
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Orthopedic Biomaterials Market Players
Some of the prominent orthopedic biomaterials market companies are DePuy Synthes Inc., Stryker Corp., AdvanSource Biomaterials Corp., Globus Medical, CAM Bioceramics B.V., DSM Biomedical, Invibio Ltd., Evonik Industries AG, Zimmer Biomet, Matexcel, Exactech, Inc., and Heraeus Holding.
Questions Answered By This Report
What was the market size of Orthopedic Biomaterials Market in 2021?
What will be the CAGR of Orthopedic Biomaterials Market during the forecast period from 2022 to 2030?
Who are the major players in Global Orthopedic Biomaterials Market?
Which region held the largest share in Orthopedic Biomaterials Market in 2021?
What are the key market drivers of Orthopedic Biomaterials Market?
Who is the largest end user Orthopedic Biomaterials Market?
What will be the Orthopedic Biomaterials Market value in 2030?
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