Global Orthopedic Biomaterials Market 2023-2030

Global Orthopedic Biomaterials Market 2023-2030

Global Orthopedic biomaterial Market Size, Share & Trends Analysis Report, By Material Type (Polymers, Ceramics & Bioactive Glasses, Calcium Phosphate Cements, Metal, Others), By Application (Orthobiologics, Joint Replacement/Reconstruction, Viscosupplementation, Orthopedic Implants, Others) Forecast Period (2022-2030)

The global orthopedic biomaterial market is anticipated to grow at a considerable CAGR of 7.2% during the forecast period. The growth of the market is attributed to factors such as the increasing prevalence of orthopedic conditions, a rise in the number of orthopedic surgeries, advancements in technology, and the growing geriatric population. Further, factors such as the demand for minimally invasive procedures, the adoption of robotic-assisted surgeries, and the availability of advanced orthopedic biomaterial are expected to fuel the demand for orthopedic biomaterial market.

The growth of the global orthopedic biomaterial market is mainly driven by increased funds and grants by government bodies as well as non-government bodies to the universities for the development of various new novel biomaterials. For instance, In March 2018, Drexel University granted a total of $200,000 to the National Science Foundation. This grant is provided for promoting the research on how biomaterial-mediated control over macrophage behavior affects biomaterial vascularization. Additionally, factors such as increasing demand for implantable devices and increasing research on regenerative medicine further give a boost to the growth of the market. However, stringent clinical & regulatory processes and unfavorable healthcare reforms may present as a challenge for the orthopedic biomaterial market growth.

Segmental Outlook

The global orthopedic biomaterial market is segmented based on material type and application. Based on material type, the market is segmented into polymers, ceramics & bioactive glasses, calcium phosphate cements, metal, and others. Based on application, the market is sub-segmented into Orthobiologics, joint replacement/reconstruction, viscosupplementation, orthopedic implants, and others.

Ceramics & Bioactive Glasses Segment to Exhibit Fastest Growth in the Global Orthopedic Biomaterial Market

The ceramics & bioactive glasses segment by material type is projected to exhibit fastest growth during the forecast period. The increasing adoption of several spine surgeries and interbody fusion procedures are contributing to the growth of this market segment. In addition, an increase in synthetic cages and pedicle screws during fixation procedures drives segment growth. Synthetic cages and pedicle screws maintain stability in the target patient pool and increase allograft fusion rates; which is further contributing to the market growth.

Regional Outlook

The global orthopedic biomaterial market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Among these, the Asia-Pacific market is anticipated to cater to a considerable growth over the forecast period. Asia-Pacific is anticipated to exhibit a considerable growth rate in the orthopedic biomaterial market due to the increasing geriatric population coupled with the increased cases of fracture and surgery. India and China are the major economies in Asia-Pacific and the market of biomaterial will grow significantly in these regions. Additionally, the presence of various research institutes in the region and investments would boost the orthopedic biomaterial market in the Asia-Pacific. Further, the region is adopting strategic initiatives to reinforce its presence in local as well as global markets. For instance, in November 2019, a Japan-based company, Mitsubishi Chemical signed an agreement with the US-based AdvanSource Biomaterials for acquiring their thermoplastic polyurethane elastomer business. This acquisition is expected to the company to expand its business footprint globally and capture significant share in the international market.

The North America Region held Considerable Share in the Global Orthopedic Biomaterial Market

North America held a considerable share in the global orthopedic biomaterial market. In North America, the US held a major market share. Owing to the increasing cases of orthopedic surgeries, the market of biomaterial will grow significantly in the region. Additionally, the well-established healthcare sector of the US coupled with government support will also aid in the orthopedic biomaterial market shares. Along with North America, Europe also has good potential for the growth of the biomaterial market in the region. The growth of the biomaterial market in Europe is associated with the increasing demand in the medical sector to use mostly natural and environmentally friendly products.

Market Players Outlook

The major companies serving the global orthopedic biomaterial market include among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2022, Synergy Biomedical, LLC, a developer of innovative biomaterial products, launched BIOSPHERE FLEX SP EXTREMITIES, Synthetic Bioactive Bone Graft. Using Synergy’s proprietary BIOSPHERE Technology, BIOSPHERE FLEX SP Extremities is a sheet putty composed of innovative spherical bioactive glass granules combined with a porous collagen/sodium hyaluronate carrier. This product addition adds to the already highly successful Synergy FLEX sheet putty product portfolio. Flex SP Extremities expects to be an integral solution into the Upper and Lower Extremity market.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global orthopedic biomaterial market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.