In several medical treatments, including orthopedics, biomaterials are used. Orthopedic biomaterials, which can be made of organic or synthetic materials, aid in restoring the structural integrity of bones harmed by disease or trauma. Orthopedic biomaterials are used to construct medical devices that the human body can use to replace or repair various tissues like ligaments, cartilage, bones, tendons, and more to carry out specific biological activities. The product has applications in orthobiologics, viscosupplementation, spine implants, joint replacement, and biodegradable tissue fixation.
The market for orthopedic biomaterials in 2021 was USD 16.06 billion and will reach USD 39.11 billion by 2030 at a 10.36% CAGR during 2021-2030.
Orthopedic biomaterials market revenue is increasing due to the rising frequency of musculoskeletal illnesses and chronic skeletal conditions. Furthermore, the orthopedic biomaterials market will rise in the next years due to the aging population and the rising number of people choosing knee surgery, construction, and other joint-related orthopedic therapies.
Market Dynamics
Drivers
The market for orthopedic biomaterials is expanding significantly due to rising venous disease prevalence and new product approvals to meet this need. The market will develop as a result of rising disease awareness, the growing value of early detection, and rising spending on chronic illnesses. Additionally, the major market participants are spending money on the research and development of technically improved goods, which will expand the use of orthopedic biomaterials in both developed and developing nations worldwide.
Restraints
Limited reimbursement coverage options have led to lower payments for orthopedic implants in many countries and have impeded the market’s growth. Additionally, the lack of reimbursements has driven producers to lower the prices of these products, severely restricting market expansion.
Opportunity
The implementation of numerous government and non-government programs to increase public awareness of orthopedic biomaterials will accelerate market growth over the forecast period. For instance, in 2019, the Indian government chose to commercialize a prototype of a biodegradable orthopedic implant that was both safe and affordable.
Market Segmentation
On the basis of material type, the orthopedic biomaterials market is segmented into polymers, metal, composites, ceramics & bioactive glasses, and calcium phosphate cement.
In 2020, the ceramics & bioactive market segment ruled the overall market. It is due to ceramics’ increasing acceptability in rebuilding hard tissues in a variety of procedures. The segment is driven by a growth in interbody fusion surgeries, an increase in minimally invasive spine surgeries using glass-ceramic & bioactive glasses and an increase in the use of synthetic cages or bone allografts for spine surgeries throughout the forecast period. Contrarily, the polymer segment is likely to expand at the fastest rate over the forecasted period due to its widespread use as bone cement and load-bearing surfaces in joint arthroplasties.
By application, the orthopedic biomaterial market is segmented into orthobiologics, orthopedic implants, bio-resorbable tissue fixation, viscosupplementation, and joint replacement/reconstruction.
In 2020, the market was dominated by the “joint replacements testing” sector because of the large procedural volume of joint replacements. According to the American Joint Replacement Registry, the number of joint replacement procedures performed in the United States increased by 57.7% between 2012 and 2016. Between 2012 and 2016, there were 281,746 procedures performed, an increase from 45,517 in 2012.
Regionally, the market is segmented into Asia-Pacific, Europe, North America, and LAMEA.
North America led the entire market for orthopedic biomaterials in 2020. The main driver of this expansion is the increasing number of patients who need orthopedic procedures for knee replacement, reconstruction, and other joint-related conditions. The increased use of advanced devices for bone void filling and load-bearing implant purposes will promote market growth.
Asia Pacific will be the fastest-growing regional market, with a CAGR of 11.8% over the forecast period. One of the main drivers of this regional market’s expansion is the rising incidence of degenerative bone diseases and bone disorders in low- and middle-income countries. Furthermore, a significant source of revenue in this region’s industry will come from rising healthcare costs coupled with better healthcare infrastructures.
Key Players
- Zimmer Biomet Holdings Inc.
- Globus Medical
- Medtronic Plc.
- Smith & Nephew Plc., Stryker Corp.
- B. Braun Melsungen AG, CONMED Corp.
- Evonik Industries AG,
- Exactech Inc.
- Collagen Matrix Inc.
- Victrex Plc.
- Heraeus Holding GmbH
- InvibiLtd.
- DePuy Synthes
The market for orthopedic biomaterials in 2021 was USD 16.06 billion and will reach USD 39.11 billion by 2030 at a 10.36% CAGR during 2021-2030. The increase in progressive neurodegenerative disorders and musculoskeletal issues primarily drives the value of the orthopedic biomaterials market. Additionally, the supply of goods will increase because of the growing older population, which is more likely to experience orthopedic issues due to weak bones and the advent of bone-related ailments.
