Global Orthopedic Biomaterials Market to reach US$26 bln by 2026 at a CAGR above 10 %

05-Sep-19

The global orthopedic biomaterials market is estimated to reach US$26 bln by 2026 at a CAGR above 10%. A major factor driving the market is the increased prevalence of degenerative joint diseases and musculoskeletal disorders. Moreover, the growing geriatric population, which is prone to orthopedic circumstances owing to low bone density and the development of illnesses associated with bone, is anticipated to increase the product supply over the forecast era. Due to the increasing demands for these products owing to its elevated pressure intensity, ceramics & bioactive glass were the dominant product type category in 2018. Furthermore, ceramic & bioactive glass biomaterials have an excellent affinity to integrate with the surface material of the bone than their counterparts. Due to the high use of these materials for the reconstruction and fixation of the spine, hip and knee, the polymer biomaterial segment is expected to be the fastest CAGR between 2019 and 2026. The implementation segment was resulted by orthopedic implants in 2018 and is anticipated to continue in dominance over the forecast period. One of the main variables driving development in this section is an increasing amount of instances of trauma. From 2019 to 2026, the fastest CAGR in the sector of orthobiology is expected to be 10.5%. Increasing use of biomaterial for spinal and other reconstructive surgeries in different orthobiological applications is expected to lead to development in this section.

A increasing market in America is the North American market in orthopedic biomaterials. The region of America is divided into North America and South America on a regional basis. The US and Canada are divided into North America. The growing incidence of various orthopedic procedures, along with the growing elderly population, is likely to speed up the market. In addition, increased awareness of biodegradable products, increased healthcare and rising demand for sophisticated medicines and products, together with increased public assistance, is probable to increase the development of North America's orthopedic biomaterials industry. For example, in 2016, around 1.61.040 joint substitution procedures took place in the United States, according to the American Joint Replacement Registry. The fastest-growing market is anticipated in Asia Pacific. The increase in chronic diseases is the main driving force behind the development of the industry. As the population increases, China is the fastest growing area due to an increasing number of patients. The market in this region is driven by increasing awareness of the safety and access to fresh therapy techniques. The development of the biomaterial orthopedics industry in Asia-Pacific is driven by higher healthcare expenses and increased living standards.

Middles of consciousness, restricted access, and the accessibility of therapy services are anticipated to demonstrate the slower development in the market for the Middle East and Africa. Due to the increased health care spending and the general development in the healthcare situation, the United Arab Emirates is the biggest market in the Middle East. Due to a big patient pool and elevated awareness of the use of biologically absorbable biomaterials, North America accounted for the biggest income share in 2018. Due to the enhanced use of this biomaterial for the reconstruction of the damaged tissue and fixation surgeries and joint replacement surgery, ceramics and the bioactive glass segment resulted the market in 2018. Due to an increase in the world's trauma instances, orthopedic implants were the most important application category in 2018.

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