Orthopedic Biomaterials Market Size, Share, Industry Trends and Forecast to 2030

Orthopedic Biomaterials Market Size & CAGR in 2021

The global orthopedic biomaterials market is anticipated to have a growth rate of 5.2% CAGR from 2021 to 2028. As a result, the market is expected to reach a value of USD 10.5 billion by 2028.

COVID-19 Impact on the Orthopedic Biomaterials Market

The outbreak of COVID-19 has had a significant impact on the orthopedic biomaterials market. The pandemic disrupted supply chains, delayed elective surgeries, and led to a decrease in the demand for orthopedic implants and biomaterials. However, as healthcare systems recover and surgeries resume, the market is expected to bounce back.

Orthopedic Biomaterials Dynamics

The orthopedic biomaterials market is driven by factors such as the increasing incidence of orthopedic disorders, the rising geriatric population, and advancements in biomaterial technologies. However, challenges such as the high cost of implants and regulatory hurdles may hinder market growth.

Segments and Related Analysis

The orthopedic biomaterials market is segmented based on material type, application, and end-user. The market is further analyzed in terms of biodegradable vs. non-biodegradable materials, implant type, and hospital vs. outpatient settings.

By Region Analysis

The orthopedic biomaterials market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America currently holds the largest market share, followed by Europe and Asia Pacific.

Key Market Players and Competitive Landscape

Key players in the orthopedic biomaterials market include Medtronic, Stryker Corporation, Zimmer Biomet Holdings, Inc., Johnson & Johnson, and others. The market is highly competitive, with companies focusing on research and development to introduce innovative biomaterial solutions.

Recent Happenings in the Orthopedic Biomaterials Market

In recent developments, Medtronic announced the launch of a new bioabsorbable implant for orthopedic applications. Stryker Corporation acquired a biomaterials company to strengthen its presence in the market. Zimmer Biomet introduced a novel bone graft material for spinal fusion procedures.