New York, NY -- (SBWIRE) -- 01/22/2021 -- Increasing prevalence of musculoskeletal diseases is one of the significant factors influencing market growth.

Market Size – USD 11.91 billion in 2018, Market Growth - CAGR of 9.0%, Market Trends – Increasing demand for biomaterials in implantable devices

The global orthopedic biomaterials market is expected to reach USD 26.28 Billion by 2027, according to a new report by Reports and Data. Increasing prevalence of musculoskeletal diseases is one of the significant factors influencing market growth. Musculoskeletal diseases were the foremost reason for disability in four of the six WHO (World Health Organization) regions in 2017. In the 2017 study by Global Burden of Disease (GBD), musculoskeletal diseases were the highest contributor to worldwide disability (responsible for 16.0% of all years of life lived with disability), and lower back pain continued to be the single topmost cause of disability. While the occurrence of musculoskeletal diseases varies by diagnosis and age, 20.0%–33.0% of people worldwide live with an agonizing musculoskeletal condition. This disease is responsible for the highest share of lost workplace productivity.

Orthopedic biomaterial, generally known as implants, is manufactured for various orthopaedic applications. They are preferred for their strength or for mimicking the properties as well as structure of bone.  Growth in the geriatric population with joint & bone issues, along with the increasing prevalence of musculoskeletal diseases is positively impacting the orthopaedic biomaterials market growth. According to a recent report by Reports and Data, the global orthopedic biomaterials market size is estimated to exceed USD 26.28 Billion in terms of revenue, delivering a CAGR of 9% during 2020-2027

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Some of the players profiled in the report are Evonik Industries AG, Zimmer Biomet, Globus Medical, Stryker, DSM Biomedical, Invibio Ltd., CAM Bioceramics BV, DePuy Synthes Inc., Matexel, and Exactech Inc., among others.

Market Drivers

The growing prevalence of diseases in the geriatric population across the globe is the key contributing factor for the orthopaedic biomaterials market growth. Rise in incidence of chronic skeletal conditions among individuals will also foster market size in the analysis period. Skeletal fragility is a general disorder of poor bone growth and slower bone turnover, resulting in abnormal bone mass, microarchitecture, and geometry in children. Rise in skeletal fragility cases, primarily in the developing countries will boost the demand for orthopedic biomaterials in the coming years.

Further key findings from the report suggest

·         By material type, ceramic & bioactive biomaterials contributed to the largest market share in 2018 and is likely to grow at the rate of 8.8% in the forecast period. The primary benefit of this biomaterial is that it is sturdy and chemically inert. Also, it has high compressive strength necessary for bone implants, and some ceramic materials are biodegradable.

·         By application, orthopedic implants accounted for the largest market size in 2018 and is estimated to grow at the rate of 8.6% in the forecast period.

·         By end-users, hospitals dominated the market in 2018 and is anticipated to grow at a rate of 8.5% in the period 2019-2027. The factors including well-resourced operating & diagnostic rooms, higher purchasing power, existence of highly skilled healthcare professionals, and improved health coverage for hospital-based healthcare services from several private and group insurance plans, among others, are responsible for the high market share of hospitals.

·         North America held the largest market share in 2018 and is likely to grow at a rate of 8.6% in the forecast period. The market dominance of North America is owing to the presence of advanced healthcare facilities and increasing acceptance of new technologies in the region.

Material Type Outlook (Revenue, USD Million; 2016-2027)

Metallic Orthopedic Biomaterials
Ceramic & Bioactive Biomaterials
Polymeric Orthopedic Biomaterials
Composite Orthopedic Biomaterials
Others

Application Outlook (Revenue, USD Million; 2016-2027)

Orthopedic Implants
Joint Reconstruction/Replacement
Orthobiologics
Visco Supplementation
Bio-Resorbable Tissue Fixation

End-Users Outlook (Revenue, USD Million; 2016-2027)

Hospitals
Clinics
Ambulatory Surgical Centers

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Regional Analysis

In the regional landscape, the Asia Pacific region is expected to deliver the highest CAGR of 10.4% over the projected timeframe. The robust growth can be attributed to the increased investments in diagnostic imaging, improving healthcare infrastructure as well as medical reimbursement schemes.

Market Segmentation by Regions:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Point Summary of the Report:

The global Orthopedic Biomaterials market research report is an investigative study offering key insights into the latest growth trends, developments, technological and product advancements, and the research and development scenario. The report also covers the market aspects that directly influence the growth of the market. These features include strategies undertaken by the prominent players, their expansion tactics, and the product portfolios of the companies, and micro and macro-economic factors.

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The study also analyses the crucial market aspects, including R&D, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.

The Global Orthopedic Biomaterials Market includes relevant and verified information relating to the overall market, key players, and their market position and financial standing. The report utilizes advanced analytical tools such as SWOT analysis, Porter's Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the market position of the major players of the industry.

Key Coverage of the Orthopedic Biomaterials Market:

- Insightful information regarding the global Orthopedic Biomaterials market
- Identification of growth in various segments and sub-segments of the Orthopedic Biomaterials market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations

Global Orthopedic Biomaterials Market: Table of Contents

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Orthopedic Biomaterials Market Segmentation & Impact Analysis

Continued……….

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