Orthopedic Biomaterials Market Growth Trajectory Through 2024-2033

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The Orthopedic Biomaterials by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Orthopedic Biomaterials, The orthopedic biomaterials market size has grown rapidly in recent years. It will grow from $18.62 billion in 2023 to $20.51 billion in 2024 at a compound annual growth rate (CAGR) of 10.2%. The growth in the historic period can be attributed to advancement in technologies, and rise in healthcare expenditure, growth in the number of healthcare facilities and economic growth .

The orthopedic biomaterials market size is expected to see rapid growth in the next few years. It will grow to $34.03 billion in 2028 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increased prevalence of obesity and arthritis conditions, rapid growth in the geriatric population and increase in joint replacement surgical procedures . Major trends in the forecast period include manufacturing implants using 3d printing technology, developing new innovative products, developing smart biomaterials implants, and on merger and acquisition activities. player-adopted strategies in the orthopedic biomaterials market include investing in expanding operations through innovative product launches, and in acquisitions and mergers to strengthen their service offerings.

The rise in the incidence of musculoskeletal disorders is expected to drive the orthopedic biomaterials market. According to the World Health Organization (WHO) report, musculoskeletal conditions are the leading contributor to disability worldwide. About 20-33% of the population suffer from a musculoskeletal disability. Musculoskeletal disorders induce fractures, swelling, and discomfort in the joints, ligaments, and tendons that cause movement disabilities. The burden of musculoskeletal conditions is known to increase with age. The sustainable development goals (SDGs) and the Decade of Healthy Ageing 2020–2030 have called for increased global attention and action on musculoskeletal health. Biomaterials are used to treat these disorders. Hence, the incidence of musculoskeletal disorders is projected to drive the orthopedic biomaterials market.

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The orthopedic biomaterials market covered in this report is segmented –

1) By Material Type: Ceramics & Bioactive Glasses, Calcium Phosphate Cements, Polymers, Metal, Composites

2) By Application: Orthopedic Implants, Joint Replacement/Reconstruction, Bio-Resorbable Tissue Fixation, Other Applications

3) By End-User: Hospitals, Clinics, Other End-Users

3D printing of orthopedic implants is one of the recent developments in the orthopedic biomaterials market. 3D printing technology is used to produce a large range of medical equipment, such as those with complicated structures or characteristics to suit a patient’s particular anatomy. 3D printing of orthopedic implants enables the design of more natural anatomical shapes, as well as the design of porous bone replacement scaffolds that can be easily integrated into the design of the implant. This allows natural bone regeneration to generate higher reliability of the implant. 3D printing of orthopedic implants is a trend in the orthopedic biomaterial market that is attracting many players. For instance, Evonik, a Germany-based chemical company has invested in Meditool, a Chinese-based 3d printed implant start-up that produces models and implants by using polyether ketone (PEEK) polymer supplied by Evonik.

The orthopedic biomaterials market report table of contents includes: