Global Orthopedic Biomaterial Market Size to Reach USD 42.43 Billion in 2032 | Emergen Research
Growing demand for biomaterials in knee reconstruction/replacement surgery is a key factor driving global orthopedic biomaterial market growth
Vancouver, Nov. 01, 2023 (GLOBE NEWSWIRE) — The global orthopedic biomaterial market size is expected to reach USD 42.43 Billion at a steady CAGR of 9.4% in 2032, according to latest analysis by Emergen Research. Steady revenue growth of the orthopedic biomaterial market can be attributed to rising prevalence of skeletal disorders and defects due to trauma, infections, cancers, and inflammatory and degenerative conditions.
Also, increase in life expectancy is a major contributor to the number of people suffering from skeletal disorders as decreasing regenerative capability and density of bones with growing age. Bone disorders, including fractures and osteoporosis, require treatments involving biomaterials for tissue regeneration and as scaffolds and bone substitutes. Market players are making increasing investments in research and development of biomaterial scaffolds made from polymers and bioceramics to support bone tissue growth.
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Growing demand for biomaterials in knee reconstruction/replacement surgery is driving growth of the orthopedic biomaterial market growth to a significant extent. Osteoarthritis is a commonly occurring degenerative bone disease. The occurrence of symptomatic knee osteoarthritis in men aged 60 years and above is around 10% in men, whereas it is 13% in women. Also, the number of individuals affected with symptomatic osteoarthritis is estimated to increase with the growing age and the obesity epidemic, thus propelling growth of the orthopedic biomaterial market.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 14.39 Billion |
| CAGR (2023–2032) | 9.4% |
| Revenue forecast in 2032 | USD 42.43 Billion |
| Base year for estimation | 2020 |
| Historical data | 2017–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Material type, application, end-use, and region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Sweden, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa, Israel |
| Key companies profiled | Evonik Industries AG, Zimmer Biomet, Matexcel, Globus Medical, Stryker Corporation, DSM Biomedical, Invibio Ltd., CAM Bioceramics BV, DePuy Synthes, and ExaTech Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Competitive Landscape
The global orthopedic biomaterial market is moderately fragmented, with a number of small- and medium-sized companies accounting for a major revenue share. Major companies have well-established facilities and enter in acquisitions and mergers, and strategic agreements, and engage in various research and development activities and initiatives to develop and deploy new and more efficient technologies and products in the orthopedic biomaterial market. Some prominent players operating in the orthopedic biomaterial market are:
- Evonik Industries AG
- Zimmer Biomet
- Matexcel
- Globus Medical
- Stryker Corporation
- DSM Biomedical
- Invibio Ltd.
- CAM Bioceramics BV
- DePuy Synthes
- ExaTech Inc.
Strategic Development
- In March 2020, Evonik Industries AG made an announcement about the development of an innovative osteoconductive PEEK biomaterial, which may be used to enhance bone fusion with an implant.
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Some Key Highlights in the Report
- In November 2020, Olympus Corporation made an announcement about the acquisition of FH ORTHO SAS, which is a company providing solutions for orthopedic surgery. The acquisition is intended to provide a strong foothold to Olympus Corporation in orthopedic minimally invasive surgery.
- Metals find extensive use as orthopedic biomaterials due to their exceptional mechanical and thermal conductivity properties and are used for load-bearing applications by providing adequate fatigue strength to bear the rigors of everyday activity. Presently, metallic biomaterials comprise 316L stainless steel, titanium-based alloys, cobalt-chromium alloys, and various other metals, such as gold and tantalum. In addition, the metallic properties can be altered during manufacturing processes and in a more adaptable way than ceramic and polymer biomaterials.
- Bones and joints are the major constituents of the musculoskeletal system. Orthopedic biomaterials used in the regeneration or replacement of bone and joints have garnered significant interest in the field of orthopedic surgery, dental surgery, and maxillofacial surgery.
- Orthopedic biomaterial market in North America accounted for largest revenue share in 2020, attributed to high adoption of technologically advanced solutions for orthopedic disorders, rapidly increasing geriatric population, and high healthcare expenditure. In addition, presence of leading providers of orthopedic biomaterials in countries in the region is expected to continue to support market growth.
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Emergen Research has segmented the global orthopedic biomaterial market on the basis of material type, application, end-use, and region:
- Material Type Outlook (Revenue, USD Billion; 2019–2032)
- Polymers
- Ceramics & Bioactive Glasses
- Composites
- Metals
- Calcium Phosphate
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Orthopedic Implants
- Orthobiologics
- Joint Reconstruction/Replacement
- Bio-resorbable Tissue Fixation
- Visco Supplementation
- End-Use Outlook (Revenue, USD Billion; 2019–2032)
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
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