Global Orthopedic Biomaterials Market To Recover At Growth Rate Of 17.7%
The global orthopedic biomaterials market is expected to decline from $12.64 billion in 2019 to $11.43 billion in 2020 at a rate of -9.67%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Several medical care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. The orthopedic surgeries have been postponed and, in some cases, cancelled due to the COVID-19 lockdown. The restrictions on non-essential medical services, including orthopedic services, coupled with slowed production of orthopedic implants and biomaterials due to extending factory closures in various countries are contributing to the markable decline in the market growth. The market is then expected to recover and reach $18.62 billion in 2023 at a rate of 17.7%. The rise in the incidence of musculoskeletal disorders is expected to drive the orthopedic biomaterials market. However, the high cost of conducting clinical trials is expected to hinder the biomaterials market growth.
The orthopedic biomaterials market comprises of revenue generated by establishments from the manufacturing and sales of orthopedic biomaterials. Orthopedic biomaterials are materials intended to be inserted in the human body as constituents of devices designed to perform certain biological functions by either substituting or repairing various tissues, such as bones, cartilage, ligaments, tendons, and others.
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The global orthopedic biomaterials market is further segmented based on type and geography.
By Material Type: Ceramics & Bioactive Glasses, Calcium Phosphate Cements, Polymers, Metal, Composites
By Application: Orthopedic Implants, Joint Replacement/Reconstruction, Bio-resorbable Tissue Fixation, Orthobiologics, Viscosupplementation
By Geography: The global orthopedic biomaterials market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American orthopedic biomaterials market accounts for the largest share in the global orthopedic biomaterials market.
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Trends 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.
Orthopedic Biomaterials Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides orthopedic biomaterials market overviews, analyzes and forecasts orthopedic biomaterials market size and growth for the global orthopedic biomaterials market, orthopedic biomaterials market share, orthopedic biomaterials market players, orthopedic biomaterials market size, orthopedic biomaterials market segments and geographies, orthopedic biomaterials market trends, orthopedic biomaterials market drivers and orthopedic biomaterials market restraints, orthopedic biomaterials market’s leading competitors’ revenues, profiles and market shares. The orthopedic biomaterials market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.