Published Date : 17 Apr 2023
In 2022, the orthopedic biomaterials market size was evaluated at USD 82.38 billion and it is expected to contribute USD 212.6 billion in 2030, progressing at a rate of 12.58% of CAGR from 2021 to 2030.
The orthopedic biomaterials market growth is driven by the high occurrences of musculoskeletal disease, rising adoption of technologically advanced products, and growing demand for next-generation biomaterial products that are specifically designed for the requirements of orthopedic procedures.
A biomaterial is a material that interacts with body tissue and body fluids in order to treat, improve, or repair anatomical parts of the human body. Orthopedic biomaterials are man-made supporting materials that are used for joint replacement, spine replacement, tissue fixation, and orthobiologics. Orthopedics is a branch of medicine that deals with musculoskeletal problems and muscle, bone, and joint disorders. Orthopedic biomaterials are components of tissue repair, tissue replacements, and bone repair supports.
Orthopedic biomaterials are materials that are intended to be implanted into the human body as components of devices that perform specific biological functions by replacing or repairing various tissues such as cartilage, bones, tendons, ligaments, and others. Polymers, ceramics & bioactive glasses, composites, metals, and calcium phosphate are the most common materials used in orthopedic biomaterials. Orthopedic biomaterials are in high demand due to the increasing prevalence of musculoskeletal illnesses, bone fractures, natural joint degradation, and other musculoskeletal disorders. The diseased or traumatized bone has been repaired using biomaterials.
Additionally, the market has grown as a result of increasing numbers of patients opting for knee construction, replacement, and other joint-related orthopedic operations. Furthermore, the orthopedic biomaterials market is being driven by an increase in the number of patients due to an increase in the elderly population, an increase in surgeries, and an increase in health consciousness among the younger generation.
North America is expected to dominate the market during the forecast period, due to the rising prevalence of orthopedic surgeries. The increasing number of patients requiring knee replacement or reconstruction and other orthopedic procedures is projected to fuel the growth of the market in the region.
Revenue from the Asia Pacific market is expected to register a rapid CAGR during the forecast period due to the increasing incidence of bone degenerative diseases and bone disorders in developing countries such as China and India. In addition, increasing healthcare expenditure along with improving healthcare infrastructure is expected to drive the growth of the market in this region.
Orthopedic Biomaterials Market Report Scope:
|Market Size in 2022||USD 82.38 Billion|
|Projected Forecast Value in 2030||USD 212.6 Billion|
|Growth Rate||12.58% from 2022 to 2030|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
|Forecast Period||2022 to 2030|
|By End User||
|Regions Covered||North America, Europe, Asia-Pacific, Latin America and Middle East & Africa|
Growing geriatric population
As the world's aging population becomes more vulnerable to joint problems and surgeries, the use of orthopedic biomaterials is expected to rise in the coming years. For instance, According to the report of the United Nations Department of Economic and Social Affairs, In 2019, there were 703 million persons aged 65 years or above in the worldwide population. This figure is expected to increase to 1.5 billion by 2050. The number of people aged 65 and more as a percentage of the global population is expected to rise from 6% currently to 16% by 2050.
Advanced medical facilities are preferred by the aging population for curing orthopedic disorders over repeated visits to clinics and hospitals. The use of orthopedic biomaterials in procedures such as bio-implants. Bioimplants reduce lengthy medical treatments which are desired by the aging population. Chronic illness faced by the geriatric population is often related to joint movements.
Growing use in sports medicine
The rapid rise in sports activities across the globe is boosting young athletes. The increase in athletic activities has been a corresponding escalation in the number of sports injuries, propelling the market expansion of orthopedic device usage. Sports injuries have become more prevalent in recent years, owing to mostly increased engagement in sports as well as active participation in fitness activities. Sports injuries such as stress fractures and torn muscles are usually treated through sports medicine.
Biomaterials are used as implant materials for treating musculoskeletal diseases of bones, muscles, joints, tendons, cartilage, and ligaments. For instance, Injuries involving sports and recreational equipment were treated in emergency departments by 3.2 million persons in 2021. Exercise, cycling, and basketball are the most commonly related to injuries.
Lack of reimbursement policies
Due to the restricted reimbursement policies pertaining to the procedures resulting in reduced reimbursements for orthopedic implants in various countries. Additionally, the lack of reimbursements has put producers under pressure to lower the prices of these products and It is likely to limit the expansion of the orthopedic biomaterials market.
Advancements in implant technology
Major healthcare manufacturing companies invest heavily in R&D to introduce better treatment resources for their customers, increasing market growth potential. Continuous R&D activities create the opportunity for the introduction of innovative biomaterial products. For instance, in October 2021, Osfirm launched the new implantable Whitlockite Biomaterial. Whitlockite is a magnesium tricalcium phosphate with outstanding bioactive regenerative and reconstructive characteristics as well as great biocompatibility, making it an attractive biomaterial for implant usage on fracture or bone defect sites.
With increased revenue growth, manufacturers in the orthopedic biomaterials industry get an advantage over their competitors by focusing on the development of technologically advanced products. Such effective treatment offers to give great opportunities for the biomaterials industry's growth.
Numerous government and non-government programs
Many government and non-government campaigns are being implemented to increase public awareness about the use of orthopedic biomaterials which is expected to boost the market expansion during the forecast period. Clinical trials have attracted the public's attention, opening up the potential for market investment.
Major Key Players:
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