Orthopedic Biomaterials Market Size, Share & Trends Analysis Report By Product (Reconstructive Joint Replacement, Spinal Implants, Dental Implants, Trauma, Orthobiologics), By Material Class (Metal, Non-Metal), By Applications (Joint Replacement, Fracture Fixation, Tissue Fixation, Implant Surgery, Viscosupplementation), By End-User (Hospitals and Clinics, Ambulatory Surgical Center) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global orthopedic biomaterials market size was valued at USD 24.03 billion in 2022. It is expected to reach USD 55.18 billion by 2031, growing at a CAGR of 7.85% during the forecast period (2023–2031).

Highlights

• Reconstructive joint replacement dominates the product segment
• Non-metal dominates the material class segment
• Americas is the most significant shareholder in the global market

Biomaterials are employed in numerous medical procedures, including orthopedics. Orthopedic biomaterials, which can be created from organic or synthetic materials, help bones that have been damaged by disease or trauma regain their structural integrity. Orthopedic biomaterials are used to construct medical devices that the human body can use to replace or repair tissues like ligaments, cartilage, bones, tendons, and more to carry out specific biological functions. The product has applications in orthobiologics, viscosupplementation, spine implants, joint replacement, and biodegradable tissue fixation.

Market Dynamics

Global Orthopedic Biomaterials Market Drivers

Growing Demand for Orthopedic Biomaterials of the Next Generation

As market players concentrate on introducing the highest quality orthopedic biomaterial products and treatments to outperform the competition, quality treatments lower the reinvestment cost for patients. Additionally, biomaterial technology advances increase orthopedic surgery's global success rate. Large players' introduction of high-quality products into the market has a significant impact. These high-quality goods and services also support these players' efforts to increase their market share internationally. For instance, creating the registry and identifying best practices resulted in a 50% decrease in revision rates of hip and knee implants in 2017, according to a report released by the American Joint Replacement Registry. However, the FDA approval study indicates that the success rate for implantation is 95.6%, the highest success rate recorded in the US in 2016. The success rate is a crucial element that drives up demand for medical implants. Therefore, improvements in surgical outcomes are anticipated to propel the global orthopedic biomaterials market growth during the forecast period.

Rising Prevalence of Orthopedic Diseases

Orthopedic biomaterials are in high demand due to the prevalence of orthopedic diseases like osteoporosis, osteoarthritis, and obesity, leading to increased surgical procedures. For instance, approximately 180 million people in India are affected by arthritis. Increased rates of diabetes and obesity only make the issue worse. According to the Arthritis Foundation report, 14 million Americans are estimated to have symptomatic knee osteoarthritis, and about 31 million in the US have osteoarthritis overall. As a result, the market for orthopedic biomaterials is expected to grow due to the rising prevalence of orthopedic diseases worldwide.

Global Orthopedic Biomaterials Market Restraints

Lack of Reimbursement Policies

It is not easy to find bundled reimbursement plans for these products. The market growth has been hampered by the fact that orthopedic biomaterials are no longer being adequately reimbursed in many nations. Manufacturers have been under pressure to lower the prices for these materials due to the lack of reimbursements. All of these factors have constrained the market's growth.

Global Orthopedic Biomaterials Market Opportunities

Technological Advancements

Technological developments in medical orthopedic biomaterials will present a significant opportunity for market expansion. Consumers are becoming more conscious and knowledgeable about health-related issues. Companies are therefore putting a greater emphasis on research and development to develop better technology and treatments, giving them an advantage over rivals. Businesses are eager to roll out cutting-edge technologies. For various medical conditions, many devices are currently available on the market.

Furthermore, players concentrate on the creation of cutting-edge products. For instance, the Persona Revision Knee System for revision knee replacement procedures received FDA 510(k) clearance from Zimmer Biomet Holdings, Inc. in September 2019, a US-based healthcare solutions provider. It provides anatomical components that are made to fit a patient's anatomy for a custom fit. There will probably be more opportunities as the demand for implant procedures increases and medical implant technology advances quickly in developing nations. As a result, the orthopedic biomaterials market will expand significantly in terms of overall volume and value.

Regional Analysis

By region, the global orthopedic biomaterials market is segmented into Americas, Europe, Asia-Pacific, and the Middle East and Africa.

Americas Dominates the Global Market

Americas is the most significant shareholder in the global orthopedic biomaterials market and is expected to grow at a CAGR of 7.92% during the forecast period. The Americas dominated the orthopedic biomaterials market in 2022 and is anticipated to hold this position throughout the evaluation period. This is explained by the high incidence of orthopedic diseases, new product introductions, and technological development in this area. The regional market is anticipated to grow due to the high demand for orthopedic biomaterial and the adequate supply of skilled workers. In addition, the market for orthopedic biomaterials in the Americas is expanding due to the region's aging population. According to the Administration for Community Living, the number of people 65 and older increased in the Americas over the past ten years, from 37.2 million in 2006 to 49.2 million in 2016. Therefore, factors such as a sizable patient pool with orthopedic conditions, a rapidly expanding market, and an increasing geriatric population are anticipated to spur the growth of the orthopedic biomaterials market in the Americas during the study period.

Europe is expected to grow at a CAGR of 7.35% during the forecast period. Europe, which held the second-largest share of the orthopedic biomaterials market in 2022, is anticipated to witness considerable growth throughout the forecast period due to an increase in patients and the accessibility of products in the area. Switzerland, Finland, Luxembourg, Germany, Austria, and Belgium were among the nations in the area with the most hip and knee replacements performed in 2017. The OECD averages for hip and knee replacements are 182 and 135 per 100,000 people. In most OECD nations since 2000, hip and knee replacement surgeries have rapidly increased. Between 2007 and 2017, the average number of hip and knee replacements increased by 30% and 40%, respectively. The local market's growth is anticipated to be boosted by the number of patients undergoing knee replacement.

Asia-Pacific is expected to experience the fastest growth over the forecast period. The United Nations projects that over the next 50 years, the proportion of people 65 and older will significantly increase throughout Asia. This age group's population in the area will increase by 31.4% from 207 million in 2000 to 857 million in 2050. In addition, many adults living in the area are anticipated to experience different cardiac and orthopedic conditions. Further, people spend more money on health due to the rising per capita disposable income of middle-class families, who comprise a significant portion of the population in Asia. This is one of the elements contributing to the regional global market's growth over the study.

The Middle East and Africa have seen a steady increase in the market for orthopedic biomaterials over the forecast period. The rising incidence of orthopedic disorders and funding from private and public entities are the main drivers of regional market expansion. According to a report by the International Trade Administration, the Saudi healthcare industry is the biggest in the Near East. The 2019 budget for Saudi Arabia's health and social affairs calls for an 8% increase to USD 46 billion from USD 42.4 billion in 2018. Additionally, expanding businesses and affiliates in the area that provide orthopedic biomaterial contributes to the market's expansion.

Segmental Analysis

The global orthopedic biomaterials market is segmented by product, material, application, and end-user.

Based on the product, the global market is bifurcated into reconstructive joint replacement, spinal implants, dental implants, trauma, and orthobiologics.

The reconstructive joint replacement segment is the highest contributor to the market and is expected to grow at a CAGR of 7.88% during the forecast period. In 2022, the segment for reconstructive joint replacements held the largest share (31.96%). The rising number of orthopedic surgery cases and the aging population is responsible for this. Additionally, there has been a strong emphasis on enhancing healthcare services globally, accelerating the market's expansion. In addition, a medical procedure called reconstructive joint replacement involves replacing the injured joint. Joint reconstruction, which offers pain relief and long-term solutions to joint disorders, ranges from minor repair to total joint replacement. Implants of all kinds, including knee replacement implants, hip replacement implants, and others, are used in reconstructive joint replacements.

One kind of medical tool used to treat disorders of the spine is the spinal implant. The 33 vertebrae that make up the spinal column support the body when it is sitting, standing, or bending. The sacrum, coccyx, thoracic, lumbar, and cervical vertebrae are among the five parts of the vertebrae. For movement, each section has a spinal disc. In addition, spinal implants come in various sizes, shapes, and functions due to the complexity of the spine. PEEK and titanium alloys are the main components of spinal implants. In disc replacement type spinal implants, cobalt-chromium alloys are used. Around 1.4 million spinal procedures are carried out annually in the US, according to the North American Spine Society. Over 350,000 procedures were performed, with cervical fixation accounting for most of those.

Based on the material class, the global market is bifurcated into metal and non-metal.

The non-metal segment owns the highest market share and is expected to grow at a CAGR of 8.28% during the forecast period. Using the polyetheretherketone (PEEK) implant material systems from the magnum PI, surgeons can use alternatives instead of metal anchors. Among many other indications, the system can be seen in several surgical procedures involving shoulder and foot Achilles tendon replacements. The procedure is made simple, quick, and secure by an implant, cortical bone lock, knotless fixation, and a straightforward technique. An easy-to-use implanted handle is placed inside the implant.

Most elements in the periodic table are metals. Metallic biomaterials are primarily used in load-bearing systems, such as hip and knee prostheses, and to repair internal and external bone fractures. It is crucial to understand how the various metallic materials used in orthopedic surgery interact with host tissue in the human body and their physical and chemical characteristics.

Based on the application, the global market is bifurcated into joint replacement, fracture fixation, tissue fixation, implant surgery, and viscosupplementation.

The joint replacement segment is the highest contributor to the market and is expected to grow at a CAGR of 7.88% during the forecast period. The joint replacement procedure removes and replaces diseased or damaged joint components with fresh, synthetic ones. The pain and discomfort can be lessened, and the joint replaced. Hip and knee reconstructions are the most common. Other joints could stand in for the elbows, ankles, shoulders, fingers, etc. In addition, the rise in knee replacement surgeries, robotic-assisted surgeries, and the launch of products like the Persona Partial Knee System, ATTUNE Revision Knee System, and JOURNEY II XR Total Knee by major manufacturers have all contributed to the knee segment's growth during the forecast period.

The primary causes of orthopedic fracture fixation include an aging population, an increase in the use of new technologies, an increase in osteoporosis prevalence, and an increase in injuries. The decline in bone fractures caused by changes in lifestyle, such as inactivity, early burnout, and rising obesity rates worldwide, is fueling the market for orthopedic implants.

Based on the end-user, the global orthopedic biomaterials market is bifurcated into hospitals and clinics and ambulatory surgical centers.

The hospitals and clinics segment owns the highest market share and is expected to grow at a CAGR of 8.12% during the forecast period.

Recent Developments

• December 2022- The Citrefix Suture Anchor System, introduced by Stryker, uses the renowned Citregen biomaterial to stimulate bone regeneration and the body's natural healing process.
• June 2022- Momentive Technologies solidified its position as the industry leader in cutting-edge materials for silicon semiconductors by acquiring CoorsTek's Crucibles Company.