A consistently high efficacy demonstrated by orthopedic medical treatments using biomaterial implants combined with stem cell therapy is a major factor responsible for an increase in demand in the global orthopedic biomaterial market. Growing incidences of musculo skeletal ailments and chronic skeletal conditions of a globally aging population is directly responsible for an overall increase in the orthopedic treatments, biomaterials and biological markets. Novel developments in titanium implants responsible for a decrease in rejection rates and lower degradation is expected to drive demand for the orthopedic biomaterial market throughout the period of forecast.
Orthopedic biomaterials market is segmented into metallic and non-metallic biomaterials. Metallic biomaterials include non reactive titanium, titanium based, cobalt and stainless steel alloys. The non metallic segment includes implantable polymers, ceramic fixation accessories and bone composites. A large share of the revenue is generated by the extensive use of polymers and bone composites in the reconstruction and fixation procedures conducted for treating chronic spinal pain, reduce pressure on the nerves and treat degrading knee and hip joints. The growing use of composites in the treatment of chronic orthopedic conditions is expected to drive the market throughout the forecast period.
A geographical analysis of the global market segments it into North America, Europe, Asia Pacific and RoW. The largest share of revenue was accounted for by North America in 2013. Owing to a growing median age of the North American population, there is a year on year increase in the number of patients requiring knee replacement, reconstruction and other joint related orthopedic procedures. The high efficacy demonstrated by stem cell therapy in their treatment is a direct factor responsible for an increased demand for biopolymer based and allograft filled bone material which consequently accounts for the large share of revenue generated from this region. The increase in demand for stem cell therapy in the Asia Pacific region is also expected to provide lucrative opportunities of growth in developing countries such as China and India. The major participants in the global orthopedic biomaterial market are Zimmer Holdings Inc., Aastrom Biosciences, Stryker Corporation, Anika Therapeutics, Allosource, Wright Medical Technology, NuVasive Incorporated, Ferring Pharmaceuticals, Aesculap Inc., Orthofix Holdings, DePuy Synthes Inc., Integra LifeSciences Corporation, ArthroCare Corp., Fidia Farmaceutici S.p.a., Bioventus, Conmed Corp., Genzyme, Biomet Incorporated, Medtronic, Arthrex Inc., Exatech Incorporated and Globus Medical Incorporated. This market is oligopolistic in nature with few smaller regional market participants. Key market participants are focusing on strategic consolidation to enhance market reach and capture a larger share of the market.
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