Orthopedic Biomaterials Market Size, Share & Trends Analysis Report By Material Type (Ceramics & Bioactive Glasses, Polymers), By Application (Orthobiologics, Orthopedic Implants), By Region, And Segment Forecasts, 2019 - 2025

Report Overview

The global orthopedic biomaterials market size was valued at USD 11.96 billion in 2018 and is anticipated to expand at a CAGR of 10.3% over the forecast period. Increasing incidence of musculoskeletal ailments and chronic skeletal conditions is boosting the product demand, thereby augmenting the market growth. The rising geriatric population, which is highly susceptible to these conditions, is expected to bolster the demand further.

For instance, as per the U.S. Census Bureau, the population in the age group 65 years and above has increased by 1.6 million from 2014 to 2015. Rise in the number of trauma cases arising from accidents, fall and sports is another factor responsible for the growing demand for orthopedic biomaterials. As more and more people are engaging in sport and recreational activities, the risk of injuries is increasing.

For instance, according to National Health Statistics Reports, in 2016, around 213 million Americans aged 6 years and above participated in sports and fitness activities in 2015, which is up from 209 million in 2014. An increasing number of orthopedic surgeries like joint arthroplasty, joint reconstruction, and viscosupplementation is also augmenting the growth of this market.

Moreover, the growing demand for next-generation orthopedic biomaterials, which are tailor-made to meet the need of a particular orthopedic procedure has reinforced the growth of the market worldwide. On the other hand, limited reimbursement coverage options for these products coupled with declining reimbursement for orthopedic implants in various countries has impeded the market growth. In addition, the lack of reimbursements has put pressure on manufacturers to lower the prices for these materials, which has restricted the growth of the market.

Material Type Insights

Based on the material type, the market is classified into ceramics & bioactive glass, polymers, calcium phosphate cement, metal, and composites. The ceramics & bioactive glass segment led the market in 2018 owing to the increased adoption of ceramics in the repair of hard tissues in various procedures. On the other hand, the polymer segment is anticipated to witness the fastest CAGR from 2019 to 2025 on account of the extensive use of polymers as bone cement and load bearing surfaces for total joint arthroplasties. In addition, the availability of advanced polymers and biopolymers for various applications like orthobiologic and bio-resorbable tissue fixation has surged the demand for polymers globally.

Application Insights

On the basis of application, the market is segmented into orthopedic implants, joint replacement/reconstruction, orthobiologics, viscosupplementation, and bio-resorbable tissue fixation. In 2018, orthopedic implants emerged as the dominant segment and is expected to maintain its dominance throughout the forecast period. Rising incidences of disc degenerative conditions and bone fractures coupled with increasing trauma cases are expected to boost the product demand in this segment.

The orthobiologics segment is expected to register the fastest CAGR of 10.8% over the forecast period owing to the increasing number of bone repair and reconstruction surgeries worldwide as a result of the rise in the obesity and trauma cases. According to the statistics published by the WHO, about 1.3 million people die each year due to road traffic crashes across the globe, out of which 93% of the total fatalities on the roads occur in low- and middle-income countries.

Regional Insights

On the basis of region, the orthopedic biomaterials market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the market in 2018 and is estimated to expand further at a lucrative CAGR over the forecast period. This growth can be attributed to the rise in the number of patients requiring knee replacement, reconstruction, and other joint-related orthopedic procedures. Quick adoption of advanced products for bone void filling and implant load-bearing purpose is anticipated to drive the regional market further.

Asia Pacific is expected to be the fastest-growing regional market at a CAGR of 11.8% over the forecast period. Key factors driving the regional market include the rising prevalence of bone degenerative diseases and bone disorders in low- and middle-income countries. Moreover, continuously increasing healthcare expenditure coupled with improving healthcare infrastructure is expected to serve as a high-impact rendering driver to the market in this region.

Key Companies & Market Share Insights

The global industry is oligopolistic in nature with a few smaller regional participants. Some key companies operating in this market include DSM Biomedical; Evonik Industries AG; Stryker Corp.; DePuy Synthes Inc.; Zimmer Biomet; Invibio Ltd.; Globus Medical; Exactech, Inc.; Matexcel; AdvanSource Biomaterials Corp.; CAM Bioceramics B.V.; and Heraeus Holding.

Orthopedic Biomaterials Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global orthopedic biomaterials market report on the basis of material type, application, and region:

• Material Type Outlook (Revenue, USD Million, 2014 - 2025)

  • Ceramics & Bioactive Glasses

  • Polymers

  • Calcium Phosphate Cement

  • Metal

  • Composites

• Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Orthopedic Implants

  • Joint Replacement/Reconstruction

  • Orthobiologics

  • Viscosupplementation

  • Bio-resorbable Tissue Fixation

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • France

    • Italy

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Singapore

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia

    • UAE