The Orthopedic Biomaterials Market is expected to register a CAGR of 7.5% during the forecast period.
Due to nationwide lockdowns during the pandemic, private and public transportation was restricted, resulting in fewer road accidents and injuries. As a result, the focus of the healthcare facilities switched from surgical procedures to COVID-19 patients, which had a short-term impact on the market in the initial pandemic phase, particularly in specialized hospitals. In addition, orthopedic centers and hospitals worldwide were handling only emergency conditions as they were operating with limited resources, while other hospitals were transformed into containment facilities and treatment units for COVID-19 patients. The inevitable pausing of all elective surgeries had limited hands-on practice and exposure to several procedures. Thus, such factors greatly impacted the demand for orthopedic biomaterials during the COVID-19 pandemic globally. However, the post-COVID-19 situation will likely grow as pending procedures increase in the surgical volume.
Moreover, the rising number of sports injuries, an increasing number of trauma cases from accidents, and growing orthopedic surgeries like joint reconstruction and joint arthroplasty are also creating a massive demand for orthopedic biomaterials, thus driving the growth of the orthopedic biomaterial market.
The incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities. For instance, an article published in June 2021 by Frontiers in Sports and Active Living reported that the 1-year prevalence of a severe sports injury episode was 31%. The most common injury locations for these injuries were the knee (25%), ankle (20%), and hip/groin (15%). Also, the point prevalence of an ongoing injury episode was 19%. The most common locations were the knee (24%), ankle (24%), and foot (24%). Thus, high sports-related injury leads to increasing demand for orthopedic biomaterials, fueling the studied market's growth.
The rising geriatric population, growing incidences of musculoskeletal injuries, and rising numbers of patients opting for knee replacement, construction, and other joint-related orthopedic procedures are expected to drive market growth. According to the United Nations Department of Economic and Social Affairs, World Population Prospects 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age five and about the same as that of children under age 12. As the growing geriatric population worldwide is more susceptible to joint problems and surgeries, the adoption of orthopedic biomaterials will likely increase over the coming years. Additionally, according to the World Health Organization's update of July 2022, approximately 1.71 billion people have musculoskeletal conditions worldwide. Such a high burden of musculoskeletal conditions results in increased musculoskeletal injuries, which drives the growth of the market for orthopedic biomaterials.
Furthermore, the advancements in the field are also propelling the market's growth. For instance, in October 2021, Osfirm launched a novel implantable Whitlockite Biomaterial. Whitlockite is a form of magnesium tricalcium phosphate that has shown superior bioactive regenerative and reconstructive properties and excellent biocompatibility, making it an ideal biomaterial for implant use on sites of fracture or bone defects.
Thus, the factors above are expected to boost the market's growth throughout the analysis period. However, the lack of reimbursement policies associated with the procedures may hamper the market's growth to a certain extent.
According to the personalized orthopedics of the Palm Beaches in November 2021, knee replacement surgery is carried out about 800,000 times a year in the United States alone, and that number keeps rising. Moreover, according to a study by The University of Queensland, in June 2022, Researchers discovered that 57.7% of the 56,217 patients who had knee replacement surgery for osteoarthritis (OA) were obese. Therefore, one factor that is also anticipated to fuel the segment's growth is the rising prevalence of obesity.
Additionally, in February 2022, Orthofix Medical launched a synthetic bioactive bone graft solution, Opus BA, a mix of carbonate apatite bone mineral, bioactive glass, and Type 1 collagen carrier for cervical and lumbar spine fusion procedures. Acting as a scaffold, Opus BA allows the bone to grow across the surface and is reabsorbed and replaced with a natural bone while healing. Such launches are propelling the growth of the segment.
Thus, owing to the abovementioned factors, the market segment is expected to show growth over the forecast period.
The increasing cases of knee injuries are one of the major drivers of segment growth. For instance, as per the report published by the Canadian Institute of Health Information in June 2021, knee replacements in Canada are among the top 3 inpatient surgeries which are performed each year.
Moreover, as per the 2021 report of the National Safety Council, in 2020, for all ages, injuries from bicycles and accessories were 425,910, injuries reported from exercise and exercise equipment were 377,939, injuries reported from ATVs, mopeds, minibikes, etc., was 229,974. From skateboards, scooters, and hoverboards, 217,646 injuries were reported in 2020. This prevalence of a high number of sports-related injuries in the region is expected to boost the demand for orthopedic bone cement and lead the market toward growth.
Additionally, the approval from the regulatory authorities is also propelling the growth of the market. For instance, in June 2022, CeramTec received the US FDA Administration breakthrough device designation for a novel ceramic total knee replacement device. Such approvals are boosting the growth of the market.
Thus, owing to the abovementioned factors, the market is expected to show growth in the region.
This product will be delivered within 2 business days.
Due to nationwide lockdowns during the pandemic, private and public transportation was restricted, resulting in fewer road accidents and injuries. As a result, the focus of the healthcare facilities switched from surgical procedures to COVID-19 patients, which had a short-term impact on the market in the initial pandemic phase, particularly in specialized hospitals. In addition, orthopedic centers and hospitals worldwide were handling only emergency conditions as they were operating with limited resources, while other hospitals were transformed into containment facilities and treatment units for COVID-19 patients. The inevitable pausing of all elective surgeries had limited hands-on practice and exposure to several procedures. Thus, such factors greatly impacted the demand for orthopedic biomaterials during the COVID-19 pandemic globally. However, the post-COVID-19 situation will likely grow as pending procedures increase in the surgical volume.
Moreover, the rising number of sports injuries, an increasing number of trauma cases from accidents, and growing orthopedic surgeries like joint reconstruction and joint arthroplasty are also creating a massive demand for orthopedic biomaterials, thus driving the growth of the orthopedic biomaterial market.
The incidence of sports injuries has increased over the last few years, primarily due to the growing participation in sports as well as active participation in fitness activities. For instance, an article published in June 2021 by Frontiers in Sports and Active Living reported that the 1-year prevalence of a severe sports injury episode was 31%. The most common injury locations for these injuries were the knee (25%), ankle (20%), and hip/groin (15%). Also, the point prevalence of an ongoing injury episode was 19%. The most common locations were the knee (24%), ankle (24%), and foot (24%). Thus, high sports-related injury leads to increasing demand for orthopedic biomaterials, fueling the studied market's growth.
The rising geriatric population, growing incidences of musculoskeletal injuries, and rising numbers of patients opting for knee replacement, construction, and other joint-related orthopedic procedures are expected to drive market growth. According to the United Nations Department of Economic and Social Affairs, World Population Prospects 2022, the share of the global population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age five and about the same as that of children under age 12. As the growing geriatric population worldwide is more susceptible to joint problems and surgeries, the adoption of orthopedic biomaterials will likely increase over the coming years. Additionally, according to the World Health Organization's update of July 2022, approximately 1.71 billion people have musculoskeletal conditions worldwide. Such a high burden of musculoskeletal conditions results in increased musculoskeletal injuries, which drives the growth of the market for orthopedic biomaterials.
Furthermore, the advancements in the field are also propelling the market's growth. For instance, in October 2021, Osfirm launched a novel implantable Whitlockite Biomaterial. Whitlockite is a form of magnesium tricalcium phosphate that has shown superior bioactive regenerative and reconstructive properties and excellent biocompatibility, making it an ideal biomaterial for implant use on sites of fracture or bone defects.
Thus, the factors above are expected to boost the market's growth throughout the analysis period. However, the lack of reimbursement policies associated with the procedures may hamper the market's growth to a certain extent.
Orthopedic Biomaterials Market Trends
The Ceramics & Bioactive Glasses Segment in Orthopedic biomaterial is Estimated to Witness a Healthy Growth in Future.
The ceramics & bioactive glasses segment by material type is estimated to witness healthy growth in the future. This is attributed to the increasing adoption of several spine surgeries and interbody fusion procedures. 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.According to the personalized orthopedics of the Palm Beaches in November 2021, knee replacement surgery is carried out about 800,000 times a year in the United States alone, and that number keeps rising. Moreover, according to a study by The University of Queensland, in June 2022, Researchers discovered that 57.7% of the 56,217 patients who had knee replacement surgery for osteoarthritis (OA) were obese. Therefore, one factor that is also anticipated to fuel the segment's growth is the rising prevalence of obesity.
Additionally, in February 2022, Orthofix Medical launched a synthetic bioactive bone graft solution, Opus BA, a mix of carbonate apatite bone mineral, bioactive glass, and Type 1 collagen carrier for cervical and lumbar spine fusion procedures. Acting as a scaffold, Opus BA allows the bone to grow across the surface and is reabsorbed and replaced with a natural bone while healing. Such launches are propelling the growth of the segment.
Thus, owing to the abovementioned factors, the market segment is expected to show growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a significant market share in the global orthopedic biomaterials market due to the increasing number of the target population, surge in the geriatric population, high adoption of advanced products associated with orthopedics, and the presence of a large number of pharmaceutical companies dealing in orthopedics.The increasing cases of knee injuries are one of the major drivers of segment growth. For instance, as per the report published by the Canadian Institute of Health Information in June 2021, knee replacements in Canada are among the top 3 inpatient surgeries which are performed each year.
Moreover, as per the 2021 report of the National Safety Council, in 2020, for all ages, injuries from bicycles and accessories were 425,910, injuries reported from exercise and exercise equipment were 377,939, injuries reported from ATVs, mopeds, minibikes, etc., was 229,974. From skateboards, scooters, and hoverboards, 217,646 injuries were reported in 2020. This prevalence of a high number of sports-related injuries in the region is expected to boost the demand for orthopedic bone cement and lead the market toward growth.
Additionally, the approval from the regulatory authorities is also propelling the growth of the market. For instance, in June 2022, CeramTec received the US FDA Administration breakthrough device designation for a novel ceramic total knee replacement device. Such approvals are boosting the growth of the market.
Thus, owing to the abovementioned factors, the market is expected to show growth in the region.
Orthopedic Biomaterials Market Competitor Analysis
The orthopedic biomaterials market is moderately competitive and consists of several major players. Some companies currently dominating the market are Koninklijke DSM N.V., Zimmer Biomet, Stryker, Invibio Ltd., Evonik Industries, DePuy Synthes, Cam Bioceramics, Exactech, Inc., and Globus Medical Inc., among others.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value-USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Koninklijke DSM N.V.
- Zimmer Biomet
- Stryker
- Invibio Ltd.
- Evonik Industries
- DePuy Synthes
- Cam Bioceramics
- Exactech, Inc
- Globus Medical Inc
Methodology
LOADING...
