SEATTLE, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Global Orthopedic Biomaterial Market to Surpass US$ 23,035.3 Million by 2027, Says Coherent Market Insights (CMI)
According to Coherent Market Insights, the Global Orthopedic Biomaterial Market is estimated to be valued at US$ 11,896.5 million in 2020 and is expected to exhibit a CAGR of 9.9% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Orthopedic Biomaterial Market:
Key trends in the market include increasing number of orthopedic procedure globally and rise in the geriatric population with orthopedic and spinal disorder which contribute to the increasing number of orthopedic procedure. For instance, according to the Agency for Healthcare Research and Quality, in 2017, more than 754,000 knee replacements were performed in the U.S.
Moreover, increasing number of spinal cord injuries is responsible for the growth of Global Orthopedic Biomaterial Market during the forecast period. For instance, as per data presented by the researchers of the National Spinal Cord Injury Statistical Center in 2019, 17,730 new Spinal cord injuries cases occur each year and between 249,000 and 363,000 people are currently living with Spinal cord injuries in the U.S.
Furthermore, increasing incidence of osteoarthritis is driving the growth of Global Orthopedic Biomaterial Market during the forecast period. For instance, according to National Health Interview Survey of Centers for Disease Control and Prevention (CDC) analyzed 2013–2015 data in 2017, U.S. adult population suffering with heart disease, diabetes, and obesity, the frequency of doctor-diagnosed arthritis were 49.3%, 47.1%, and 30.6%, respectively; the frequency of arthritis-attributable activity limitations among adults with these conditions and arthritis were 54.5% (heart disease), 54.0% (diabetes), and 49.0% (obesity).
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Key Market Takeaways:
The Global Orthopedic Biomaterial Market is expected to exhibit a CAGR of 9.9% during the forecast period, owing to growing orthopedic disorders associated with aging population, which is boosting the growth of Global Orthopedic Biomaterial Market. For instance, according to Global Burden of study (GDB) in 2017, muscular condition were the highest contributor to global disability, accounting for about 20%-33% people across the world.
Among application, viscosupplementation segment is expected to dominate the Global Orthopedic Biomaterial Market in 2020. For instance, in March 2019, Seikagaku Corporation is an R&D-oriented pharmaceutical company that focuses on glycoscience as an area of specialization, launched intra-articular single-injection viscosupplement HyLink to treat the patients suffering from Knee Osteoarthritis
On the basis of the material type, Polymer segment is expected to dominate the Global Orthopedic Biomaterial Market in 2020. For instance, in January 2019, DSM Biomedical is a leader in developing medical device materials and ProMed Pharma is a leading contract manufacturer of polymer-based drug releasing molded dosage forms and combination device components announced agreement on technical and business development partnership focused on polymeric drug delivery.
Among application, Spine implant segment is expected to be the lucrative segment in the Global Orthopedic Biomaterial Market in 2020, owing to increasing number of patients form back pain. For instance, according to the National Center for Health Statistics in 2015, one in every four individual would suffer from chronic low back pain
Among material type, Ceramics and bioactive glass segment held major market share in 2019. For instance, Heraeus and Engel have partnered in order to produce injection molding of amorphous liquid metals which is the line of metallic glass.
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Competitive Landscape:
Key players operating in the Global Orthopedic Biomaterial Market include B. Braun Melsungen AG, CONMED Corp., Evonik Industries AG, Medtronic Plc., Smith & Nephew Plc., Stryker Corp., Victrex Plc., and Zimmer Biomet Holdings Inc. Globus Medical, Heraeus Holding GmbH, Exactech Inc., Collagen Matrix Inc., Koninklijke DSM N.V. (DSM Biomedical B.V.), Invibio Ltd., DePuy Synthes.
Market Segmentation:
- Global Orthopedic Biomaterial Market, By Material Type:
- Glass-ceramic & Bioactive Glasses
- Calcium Phosphate Cements
- Polymer
- Metals
- Composites
- Global Orthopedic Biomaterial Market, By Application:
- Joint R eplacement
- Spine Implants
- Orthobiologics
- Viscosupplementation
- Bio-resorbable Tissue Fixation
- Global Orthopedic Biomaterial Market, By End user:
- Hospitals
- Orthopedic Clinics
- Other
- Global Orthopedic Biomaterial Market, By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC
- Israel
- Rest of Middle East
- Africa
- South Africa
- Central Africa
- North Africa
- North America
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
