Research Nester published a report titled “Orthopedic Biomaterials Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global orthopedic biomaterials market in terms of market segmentation by material, application, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global orthopedic biomaterials market is estimated to occupy a substantial revenue by growing at a CAGR of ~9% during the forecast period, i.e., 2022 – 2030, owing to the escalating incidences of musculoskeletal disorders and other chronic skeletal conditions, and rising elderly population across the globe. Apart from these, growing number trauma cases of sports and accidents is also expected to drive market growth in the forthcoming years.
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The global orthopedic biomaterials market is segmented by material and application. Based on material, the ceramics & bioactive glasses segment is anticipated to grab the largest market share during the forecast period on the back of rising adoption of these materials in inter body fusion and spine surgeries. Furthermore, by application, the orthopedic implants segment is projected to grab the largest share over the forecast period ascribing to the escalating incidences of disc degenerative conditions and bone fractures.
Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to gather the largest share in the market during the forecast period attributing to the increasing target population in the region. Moreover, the market in Asia Pacific is assessed to grow by a noteworthy rate in the future owing to the continuous surge in healthcare expenditure.
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The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Rising Occurrence of Musculoskeletal Disorders Worldwide to Drive Market Growth
As per the data provided by the World Health Organization, approximately 1.71 billion people globally suffer from musculoskeletal conditions as of 2021. Among all musculoskeletal disorders, low back pain causes the highest burden affecting about 568 million people. With the rise in the number of cases of these disorders, the demand for orthopedic biomaterials is foreseen to increase, which in turn will augment the market growth in the future.
However, absence of reimbursement associated with orthopedics is expected to operate as key restraint to the growth of the global orthopedic biomaterials market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the global orthopedic biomaterials market which includes company profiling of Evonik Industries AG, Stryker Corporation, DePuy Synthes Inc., Zimmer Biomet Holdings Inc., Invibio Ltd., Koninklijke DSM N.V., Victrex Plc., Heraeus Holding GmbH, Exactech Inc., Collagen Matrix Inc., and others.