Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Orthopedic Biomaterials market.
Trusted Business Insights presents an updated and comprehensive analysis of Orthopedic Biomaterials Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Orthopedic Biomaterials market during the forecast period (2021-2026).Our research analyst have analysed at the short-term stress in the industries subsectors as well as long-term impacts. Analyst have also examined the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Global Orthopedic Biomaterials Market
The global Orthopedic Biomaterials market size is projected to reach US$ 26.2 billion by 2026, from US$ 14.55 billion in 2020, at a CAGR of 10.3% during 2021-2026. Increasing incidence of musculoskeletal ailments and chronic skeletal conditions is boosting the product demand, thereby augmenting market growth. Rising geriatric population, which is highly susceptible to these conditions, is expected to bolster the demand further.
For instance, as per the U.S. Census Bureau, population in the age group 65 years and above has increased by 1.6 million from 2014 to 2015. Rise in the number of trauma cases arising from accidents, fall and sports is another factor responsible for growing demand of orthopedic biomaterials. As more and more people are engaging in sport and recreational activities, the risk of injuries is increasing.
For instance, according to National Health Statistics Reports, in 2016, around 213 million Americans aged 6 years and above participated in sports and fitness activities in 2015, which is up from 209 million in 2014. Increasing number of orthopedic surgeries like joint arthroplasty, joint reconstruction, and viscosupplementation is also augmenting the growth of this market.
Moreover, growing demand for next-generation orthopedic biomaterials, which are tailor-made to meet the need of a particular orthopedic procedure has reinforced the growth of the market worldwide. On the other hand, limited reimbursement coverage options forthese products coupled with declining reimbursement for orthopedic implants in various countries has impeded the market growth. In addition, lack of reimbursements has put pressure on manufacturers to lower the prices for these materials, which has restricted the growth of the market.
Market Segmentation, Outlook & Viewpoint: Global Orthopedic Biomaterials Market
Material Type Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
- Ceramics & Bioactive Glasses
- Calcium Phosphate Cements
Application Market Segmentation & Outlook (Revenue, USD Million, 2014 – 2025)
- Orthopedic Implants
- Joint Replacement/Reconstruction
- Bio-resorbable Tissue Fixation
Key Players, Recent Developments & Regional Insights: Global Orthopedic Biomaterials Market
On the basis of application, the market is segmented into orthopedic implants, joint replacement/reconstruction, orthobiologics, viscosupplementation, and bio-resorbable tissue fixation. In 2018, orthopedic implants emerged as the dominant segment and is expected to maintain its dominance throughout the forecast period. Rising incidences of disc degenerative conditions and bone fractures coupled with increasing trauma cases are expected to boost the product demand in this segment.
The orthobiologics segment is expected register the fastest CAGR of 10.8% over the forecast period owing to increasing number of bone repair and reconstruction surgeries worldwide as a result of rise in the obesity and trauma cases. According to the statistics published the WHO, about 1.3 million people die each year due to road traffic crashes across the globe, out of which 93% of the total fatalities on the roads occur in low- and middle-income countries.
On the basis of region, the orthopedic biomaterials market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the market in 2018 and is estimated to expand further at a lucrative CAGR over the forecast period. This growth can be attributed to the rise in the number of patients requiring knee replacement, reconstruction, and other joint-related orthopedic procedures. Quick adoption of advanced products for bone void filling and implant load bearing purpose is anticipated to drive the regional market further.
Asia Pacific is expected to be the fastest-growing regional market at a CAGR of 11.8% over the forecast period. Key factors driving the regional market include rising prevalence of bone degenerative diseases and bone disorders in low- and middle-income countries. Moreover, continuously increasing healthcare expenditure coupled with improving healthcare infrastructure is expected to serve as high-impact rendering driver to the market in this region.
Orthopedic Biomaterials Market Share Insights
The global industry is oligopolistic in nature with a few smaller regional participants. Some key companies operating in this market include DSM Biomedical; Evonik Industries AG; Stryker Corp.; DePuy Synthes Inc.; Zimmer Biomet; Invibio Ltd.; Globus Medical; Exactech, Inc.; Matexcel; AdvanSource Biomaterials Corp.; CAM Bioceramics B.V.; and Heraeus Holding.
Key Insights Covered: Global Orthopedic Biomaterials Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Orthopedic Biomaterials industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Orthopedic Biomaterials industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Orthopedic Biomaterials industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Orthopedic Biomaterials industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Orthopedic Biomaterials industry.
Research Methodology: Global Orthopedic Biomaterials Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other
Quick Read Table of Contents of this Report @ Orthopedic Biomaterials Market Size, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)
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