Orthopedic Biomaterials Market Revenue to Surpass USD 32.2 Billion by 2030, says P&S Intelligence

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Aug 22, 2022, 06:30 ET

NEW YORK, Aug. 22, 2022 /PRNewswire/ -- According to the market research report published by P&S Intelligence, the size of the orthopedic biomaterials market, which stood at $14.2 billion in 2021, is predicted to expand to $32.2 billion by 2030, witnessing a CAGR of 9.5% over this decade. The biggest reason for this will be the constant rise in the incidence of bone and tissue problems, which lead to significant disabilities in around 30% of the global population.

Sore joints, fractured bones, and swollen tissue commonly result in restricted mobility. The effects of these conditions are often more profound in the elderly, which is why the United Nations and government healthcare bodies are increasing their focus on caring for the geriatric population.

A key trend in the industry is next-gen implants that hold on to the living tissue longer, thus minimizing the need for follow-up surgeries and helping patients save on medical bills. Moreover, the improved biomaterials being offered by companies have raised the success rates of operations, encouraging more patients to go for them.

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Key Findings of Orthopedic Biomaterials Market Report

Non-metallic biomaterials are more popular in orthopedics, generating almost 60% of the market revenue in 2021. This is ascribed to the increasing usage of polymeric materials in total joint arthroplasties and ceramic materials for the restoration of hard tissues.
Over this decade, the demand for orthobiologics will grow rapidly, as they are widely used during trauma surgeries. In perspective, over 1 million die every year due to road-accident-induced trauma, most of them in LMICs.
Hospitals & clinics are the larger end users in the orthopedic biomaterials market, with an over 40% share. Most bone and muscle procedures are carried out in hospitals as they are trusted by patients to provide care of the highest standards.
North America dominates the market, as an increasing number of people in the region are undergoing knee and hip replacements. Moreover, almost all major market players operate in the continent, which makes advanced orthopedic biomaterials easily available.
The highest CAGR, of 10%, will be witnessed in the Asia-Pacific region, which is home to a huge number of people with musculoskeletal issues. Thus, regional countries are increasing their spending on improving their healthcare infrastructure and to bring orthopedic advanced technologies to the masses.

Competitive Landscape of Orthopedic Biomaterials Market

Browse detailed report on Orthopedic Biomaterials Market Size, Share, Growth and Demand Forecast Report 2030

Major players in the industry are Stryker Corp., Medtronic Plc, Zimmer Biomet Holdings Inc., CAM Bioceramics B.V., Exactech Inc., Nobel Biocare Holding AG, Globus Medical Inc., and Invibio Ltd.
To augment their earnings and improve the outcomes for patients, they are launching new and advanced biomaterials.
In March 2022, a new polyether ether ketone filament, named VESTAKEEP Fusion, was unveiled by Evonik for 3D-printed implants.
In October 2021, a new line of biodegradable whitlockite screws and plates was launched by Osfirm. Biocompatible, reconstructive, regenerative, and bioactive properties make the material, a form of calcium phosphate, ideal for surgeries to repair damaged bone and fractures.

Orthopedic Biomaterials Market Report Coverage

By Product

Reconstructive Joint Replacements
Spinal Implants
Dental Implants
Trauma
Orthobiologics

By Material Class

Metal
Non-Metal

By Application

Joint Replacement
Fracture Fixation
Tissue Fixation
Implant Surgery
Viscosupplementation

By End User

Hospitals & Clinics
Ambulatory Surgical Centers

Regional Analysis

North America

U.S.
Canada

Europe

Germany
France
U.K.
Spain
Italy

Asia-Pacific

China
Japan
India
Australia
South Korea

Latin America

Brazil
Mexico

Middle East and Africa

Saudi Arabia
South Africa

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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Prajneesh Kumar
P&S Intelligence
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