Growing Adoption of Orthopedic Materials in Joint Replacement Procedures to Propel Market Growth
Within the past couple of decades, the healthcare sector has witnessed advancements and innovations. Research and development activities continue to bring to the fore new medications, therapies, and treatments. However, despite these advancements, unmet clinical requirements to treat degenerative conditions and orthopedic injuries continue to pose a major challenge for healthcare systems across the world. Advancements in bio implant engineering have paved the way for several biological alternatives that are aimed at retaining, modifying, and restoring the functionalities of different organs. Moreover, rapid progress in the material technology has enabled the deployment of an array of materials for implant applications.
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Orthopedic biomaterials are increasingly being used for joint replacements, ortho biologics, spine implants, and bio-resorbable tissue fixation, among others. The demand for orthopedic biomaterials is expected to witness considerable growth during the forecast period (2019-2027), due to a range of factors. Some of the leading factors that are expected to steer the global orthopedic biomaterials market past US$ 21.3 Bn mark include exponential rise in aging population, shift toward nanophase materials from conventional materials, and growing adoption of 3D printed orthopedic implants. Stakeholders in the current orthopedic biomaterials market landscape are likely to focus on improving designs of nanophase materials to improve reliability and functionalities of implants.
Stakeholder Likely to Explore Benefits of 3D Printing for Tissue Engineering
Advancement in the 3D printing technology is expected to create a strong impact on the orthopedic biomaterials market during the forecast period, as stakeholders continue to explore its potential for tissue engineering. 3D printed implants, smart biomaterials, and porous structures are some of the trends one can expect within the orthopedic biomaterials market during the forecast period. These advancements in the orthopedic biomaterial market are anticipated to play a key role in the development of implants with improved functionalities. Although the commercialization of these orthopedic biomaterials was a major challenge for a considerable time period, at present, the adoption of orthopedic biomaterials is on the rise. Furthermore, due to drawbacks of conventional orthopedic biomaterials, including quality, implant life, and cost of the treatment, demand for advanced orthopedic biomaterials is projected to grow at a healthy pace during the assessment period, thus driving the orthopedic biomaterials market.
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At present, the application of 3D printing within the tissue engineering and regenerative medicine field are bound by the choice of biomaterials, and research and development activities are expected to change the narrative in the coming years. Research and development activities are paving the way for new biomaterials that can be utilized in 3D printing techniques. The advent of 3D printing is expected to significantly boost the demand for orthopedic biomaterials, owing to the advantages associated with fabricating scaffolds. Some of the major benefits offered by 3D printing in the orthopedic biomaterial market include improved capability to develop complex geometries, co-culture of numerous cells, and most importantly integrate growth factors. At present, composites, polymers, and ceramics are some of the orthopedic biomaterials that are increasingly being used in biomaterial 3D printing.
Innovations to Fuel Adoption of Smart Biomaterials
In the past few years, there have been significant innovations in the regenerative medicines space due to the benefits of biomaterials. At present, biomaterial-based tissue engineering strategies are offering promising results due to which the demand for such ‘smart’ biomaterials is expected to witness substantial growth. Staggering developments as far as stem-cell-based techniques are concerned to have gradually opened the door for new and effective solutions to treat a range of diseases. In the current scenario, owing to the progress in nanotechnology, both natural as well as artificial biomaterials can be deployed to produce 3D scaffolds. Stakeholders in the current orthopedic biomaterials market are seeking solutions to improve the integration of implants made from orthopedic biomaterials. Research and development activities are focusing on finding new techniques wherein orthopedic biomaterials can be used to enhance healing and restoring different physiological functions of the bone. Modern-day bone tissue engineering techniques have largely benefitted from the use of biomaterials to create 3D biodegradable and porous bioactive scaffolds.
The global orthopedic biomaterials market is expected to grow at a healthy CAGR of ~7% during the forecast period. The market growth can be largely attributed to the ascending demand for orthopedic implants, surge in the number of sports-related injuries, noteworthy advancements in technology, and growth in the number of research and development activities. Moreover, advancements in nanotechnology coupled with progress in the 3D printing space are expected to increase the demand for orthopedic biomaterials for tissue engineering. Despite facing a few hurdles while commercializing orthopedic biomaterials, since then the demand has moved in an upward trajectory. Research & development activities will play an imperative role in improving the functionalities of orthopedic biomaterials, which in turn will drive the orthopedic biomaterials market.
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Orthopedic Biomaterials Market: Overview
Orthopedic biomaterials are meant to be implanted in the human body as constituents of devices that are designed to perform certain biological functions by substituting or repairing different tissues such as bone, cartilage, or ligaments and tendons, and even by guiding bone repair when necessary
The orthopedic biomaterials market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global orthopedic biomaterials market with respect to the segments based on material, application, end user, and region.
The overview section of the report analyzes the orthopedic biomaterials market dynamics and trends such as drivers, restraints, and opportunities that influence the global orthopedic biomaterials market. The section also covers orthopedic biomaterials market revenue projections, market attractiveness analysis, and key market share analysis in order to provide a thorough analysis of the overall competitive scenario in the global orthopedic biomaterials market.
Orthopedic Biomaterials Market: Drivers
The global orthopedic biomaterials market is driven by rise in percentage of population requiring orthopedic implants; increase in incidence rate of injuries related to accidents, sports, and adventure; surge in adoption of technologically advanced products; and rise in government initiatives to address unmet medical needs
As age progresses, cartilages become prone to strain and fatigue due to less water content. This leads to arthritis and other complications which require knee replacement procedures. Furthermore, other connective tissues such as ligaments attached to the bones become less flexible and more constrained. These factors are expected to drive the demand for orthopedic biomaterials among the geriatric population.
However, product recalls affecting market adoption rates, fragmented market affecting profit margins, and safety and risk issues shifting patient preference toward non-surgical alternatives are the major factors anticipated to restrain the global orthopedic biomaterials market
Market Segmentation: Orthopedic Biomaterials Market
In terms of material, the global orthopedic biomaterials market has been classified into glass-ceramic & bioactive glasses, calcium phosphate cements, polymers, metals, and composites. The glass-ceramic & bioactive glasses segment held major share of the global orthopedic biomaterials market in 2018. Increase in minimally invasive approach for spine surgery using glass-ceramic & bioactive glasses, rise in interbody fusion procedures, increase in usage of synthetic cages or premilled allograft for spine surgery, and addition of pedicle screws as fixation devices to maintain stability as well as increase fusion rate of allografts are expected to drive the segment during the forecast period.
Based on application, the global orthopedic biomaterials market has been categorized into joint replacements, spine implants, orthobiologics, viscosupplementation, and bio-resorbable tissue fixation. The joint replacements testing segment dominated the market in 2018, owing to high procedural volume of joint replacements. According to the American Joint Replacement Registry, the procedural volume of joint replacement in the U.S. registered a 57.7% CAGR from 2012 to 2016. In 2012, 45,517 procedures were performed, which increased to 281,746 in 2016.
In terms of end user, the global orthopedic biomaterials market has been divided into hospitals, orthopedic clinics, and others. The hospitals segment accounted for significant share of the market in 2018. The segment is expected to sustain its leadership position during the forecast period. Growth of the segment can be attributed to increase in number of orthopedic procedures in hospitals.
Each of the segments of the global orthopedic biomaterials market has been analyzed in detail for market trends, recent trends and developments, drivers, restraints, opportunities, and useful insights. The report provides current and future revenues (US$ Mn) for each of these segments for the period from 2017 to 2027, considering 2018 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2019 to 2027 along with market size estimations.
Regional Overview: Orthopedic Biomaterials Market
In terms of region, the global orthopedic biomaterials market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is likely to continue its dominance in the global orthopedic biomaterials market throughout the forecast period, owing to significant average selling prices of orthopedic implants, rise in demand from surgeons for technologically advanced orthopedic implants with enhanced lifetime and precision, and favorable coverage for orthopedic procedures in the region.
The study also offers a list of recommendations, highlights, and useful insights of the orthopedic biomaterials market, which would help new companies willing to enter the orthopedic biomaterials market and existing companies to increase market shares and help in the decision-making process
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The orthopedic biomaterials report concludes with the company profiles section that includes key information about the major players in the market
Key players operating in the global orthopedic biomaterials market include
- Zimmer Biomet Holdings, Inc.
- DePuy Synthes (Johnson & Johnson)
- Smith & Nephew plc
- DJO Global, Inc.
- Arthrex, Inc.
- NuVasive, Inc.
- Globus Medical, Inc.
Key Questions Answered in Orthopedic Biomaterials Market Report
- How does the development of orthopedic biomaterials provide the scope of growth in the orthopedic biomaterials market?
- How alliances and partnerships between players are widening the scope of new preservation techniques for orthopedic biomaterials?
- What are the revenue share projections of key segments under various criteria in the global orthopedic biomaterials market during the forecast period?
- Which segment is likely to generate highest revenue by the end of the forecast period in 2027?
- How is the evolving health care system in developing countries in Asia Pacific making an impact on the overall orthopedic biomaterials market?
Orthopedic Biomaterials Market – Segmentation
- Glass-ceramic & Bioactive Glasses
- Calcium Phosphate Cements
- Joint Replacements
- Spine Implants
- Bio-resorbable Tissue Fixation
- Orthopedic Clinics
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Orthopedic Biomaterials Market
4. Market Overview
4.1.1. Orthopedic Biomaterials Market Introduction
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Orthopedic Biomaterials Market Analysis and Forecasts, 2017–2027
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Price Comparison Analysis
5.2. Key Potential Customers
5.3. Key Success Factors of Three Players
5.4. Key Industry Developments (Mergers & Acquisitions, Funding, Business Expansion, etc.)
5.5. Technological Advancements
5.6. Regulatory Scenario by Regional/Global
6. Global Orthopedic Biomaterials Market Analysis and Forecasts, by Material
6.1. Introduction & Definition
6.2. Key Findings / Developments
6.3. Market Value Forecast, by Material, 2017–2027
6.3.1. Glass-ceramic & Bioactive Glasses
6.3.2. Calcium Phosphate Cements
6.4. Market Attractiveness, by Material
7. Global Orthopedic Biomaterials Market Analysis and Forecasts, by Application
7.1. Introduction & Definition
7.2. Key Findings / Developments
7.3. Market Value Forecast, by Application, 2017–2027
7.3.1. Joint Replacements
7.3.2. Spine Implants
7.3.5. Bio-resorbable Tissue Fixation
7.4. Market Attractiveness, by Application
8. Global Orthopedic Biomaterials Market Analysis and Forecasts, by End-user
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