New York, United States , Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Global Orthopedic Biomaterials Market Size is Expected to Grow from USD 19.50 Billion in 2023 to USD 51.50 Billion by 2033, at a CAGR of 10.20% during the forecast period 2023-2033.
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Orthopedic biomaterials are materials specifically designed and used in orthopedic applications to repair, replace, or support damaged or diseased bone and joint tissues. Orthopedic biomaterials require properties that make them compatible with the human body and capable of enduring mechanical pressures. Orthopedic biomaterials support and replace damaged bone and joint tissues in a variety of medicinal applications. The orthopedic biomaterials market is heavily driven by an aging population and the increased prevalence of orthopedic illnesses, which drive demand for implants and devices. Technological improvements, such as 3D printing and innovations in biomaterial production, improve treatment alternatives and enhance market opportunities. However, the orthopedic biomaterials market confronts numerous constraints, including the high prices associated with innovative materials and strict regulatory barriers, which can delay product approval and increase costs.
Browse key industry insights spread across 210 pages with 120 Market data tables and figures & charts from the report on the "Global Orthopedic Biomaterials Market Size, Share, and COVID-19 Impact Analysis, By Material (Metal, Polymers, Ceramics & Bioactive Glass Biomaterials), By Application (Orthobiologics, Orthopedic Implants), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The ceramics & bioactive glass biomaterials segment is predicted to hold the largest market share through the forecast period.
Based on the material, the orthopedic biomaterials market is classified into metal, polymers, ceramics & bioactive glass biomaterials. Among these, the ceramics & bioactive glass biomaterials segment is predicted to hold the largest market share through the forecast period. This segment's dominance is owing to the unique qualities of ceramics and bioactive glasses, which include outstanding biocompatibility, high strength, and the capacity to encourage bone growth and integration.
The orthopedic implants segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the orthopedic biomaterials market is divided into orthobiologics and orthopedic implants. Among these, the orthopedic implants segment is anticipated to hold the highest market share during the projected timeframe. This dominance derives from the enormous demand for various types of implants used in procedures to repair or replace broken bones and joints. Orthopedic implants, including those constructed from metals, ceramics, and polymers, are necessary for treating problems such as fractures, joint degeneration, and deformities.
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North America is estimated to hold the largest share of the orthopedic biomaterials market over the forecast period.
North America is estimated to hold the largest share of the orthopedic biomaterials market over the forecast period. North America is dominated by its advanced healthcare infrastructure, high prevalence of orthopedic disorders, and significant R&D efforts. The region benefits from a large number of industry leaders, substantial investment from public and private sources, and a high rate of innovation propelling the expansion of the North American region.
Asia Pacific is predicted to have the highest CAGR growth in the orthopedic biomaterials market over the forecast period. This rapid growth can be attributed to several factors, including a larger population with orthopedic disorders, expanded healthcare infrastructure, and increased awareness of improved treatment choices. Furthermore, economic development in nations like China and India is driving increased investment in healthcare and medical technologies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the orthopedic biomaterials market include Evonik Industries AG, Stryker Corp., DSM Biomedical, Depuy Synthes Inc., Zimmer Biomet, Invibo Ltd., Globus Medical, Exactech, Inc., AdvanSource, Matexcel, Biomaterials Corp., CAM Bioceramics B.V., Heraeus Holding, and Others.
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Recent Developments
- In December 2022, Stryker launched Citrefix, a suture anchor system for foot and ankle surgical operations. The new device utilizes Citregen, an award-winning bioresorbable substance that mimics the chemistry and structure of natural bone.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the orthopedic biomaterials market based on the below-mentioned segments:
Global Orthopedic Biomaterials Market, By Material
- Metal
- Polymers
- Ceramics & Bioactive Glass Biomaterials
Global Orthopedic Biomaterials Market, By Application
- Orthobiologics
- Orthopedic Implants
Global Orthopedic Biomaterials Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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