ORTHOPEDIC BIOMATERIAL MARKET ANALYSIS

The global orthopedic biomaterial market is estimated to be valued at US$ 15.7 Bn in 2023, and is expected to exhibit a CAGR of 9.9% during the forecast period (2023-2030).

Analysts’ Views on the Global Orthopedic Biomaterial Market

The orthopedic biomaterial market is expected to see steady growth in the coming years, driven by an aging population and a rise in musculoskeletal disorders. There is increasing demand for effective biomaterial implants that can improve patient outcomes and quality of life. Polymer biomaterials such as PEEK and ultra-high molecular weight polyethylene dominate the market due to favorable properties like biocompatibility, durability, and imaging compatibility. However, concerns around wear debris and subsequent osteolysis remain a restraint for traditional polymer implants. This provides opportunities for new biomaterial technologies like biodegradable magnesium alloys and porous titanium implants. These can potentially address unmet needs by promoting bone growth and minimizing stress-shielding effects.

Figure 1. Global Orthopedic Biomaterial Market Share (%), By Material Type, 2023

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Global Orthopedic Biomaterial Market - Drivers

• Rising Prevalence of Musculoskeletal Disorders: The rising prevalence of musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis, and osteoporosis is a major driver propelling the growth of the global orthopedic biomaterial market. For instance, according to the Centers for Disease Control and Prevention (CDC), June 2023, 1 in 4 (or 53.2 million) U.S. adults had some form of arthritis in 2021. While there are estimated to be more than 100 types of arthritis, osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million U.S. adults. The aging population and obesity epidemic have significantly contributed to the increasing musculoskeletal disease burden. With life expectancy rising globally, the World Health Organization (WHO) report for 2022 estimates that the population aged 60 years or older will increase from 1 billion in 2020 to 1.4 billion by 2030. Since advanced age is a prominent risk factor for osteoarthritis, osteoporosis, and other musculoskeletal conditions, the exponential growth of the elderly demographic will lead to a higher disease burden and greater demand for orthopedic treatments involving biomaterials.
• Advancements in Orthopedic Biomaterials and Implant Technology: Continual advances in orthopedic biomaterials and implant designs are driving market expansion by improving clinical outcomes and the longevity of implants. Active research is underway to develop innovative biomaterials like porous titanium, biodegradable polymers, and 3D printed constructs that can better integrate with native bone, stimulate bone regeneration, and reduce stress shielding compared to traditional metal implants. For instance, in July 2023, Himed, a biomaterials company located in the U.S., and Lithoz, a worldwide industry leader in 3D printing based in Austria, announced a collaboration to create novel bioceramic feedstocks. The two companies have entered into a long-term strategic materials research partnership agreement to investigate novel integrations of Himed's calcium phosphate (CaP) biomaterials with Lithoz's proprietary ceramic binder utilized in their cutting-edge CeraFab S65 medical 3D printer.

Figure 2. Global Orthopedic Biomaterial Market Share (%), By Region, 2023

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Global Orthopedic Biomaterial Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global orthopedic biomaterial market over the forecast period. North America is estimated to hold 44.6% of the market share in 2023. The North America region is expected to dominate the global orthopedic biomaterial market over the forecast period. The large presence of major medical device manufacturers in the U.S. is a key factor driving growth in this region. The U.S. is home to large multinational corporations like Johnson & Johnson, Stryker, Zimmer Biomet, and Medtronic, all medical technology companies which together account for over 80% of the orthopedic biomaterial market in the region. Moreover, increasing acquisitions between market players are expected to drive the market growth in the region. For instance, in September 2023, Restor3d, the U.S.-based manufacturer of 3D-printed orthopedic implants, announced the completion of its previously announced acquisition of restor3d, a company that manufactures customized knee and hip replacements. Restor3d provides patient-specific, patient-matched, and auxiliary goods. Its specialty is in 3D printing osseointegrative biomedical materials.

Global Orthopedic Biomaterial Market - Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems regarding transportation of raw materials and finished products from one place to another.
• The COVID-19 pandemic had a negative impact on the global orthopedic biomaterial market owing to the decreasing number of orthopedic surgical procedures. For instance, according to Plos One journal, 2022, a study conducted in Prague, the capital of the Czech Republic, showed a significant reduction in the care of orthopaedic and trauma outpatients (reduction in healthcare by 24–54%). A reduction in the number of elective surgeries by 69–87% during 2020-2021 was also observed.

Global Orthopedic Biomaterial Market - Segmentation

The global orthopedic biomaterial market report is segmented into material type, application, end user, and region.

• Based on material type, the market is segmented into glass-ceramic & bioactive glasses, calcium phosphate cements, polymer, metals, and composites. Among the material type segment, glass-ceramic & bioactive glasses contribute the highest share of the market owing to its superior properties and advantages over other biomaterials.
• Based on application, the market is segmented into joint replacement, spine implants, orthobiologics, viscosupplementation, bio-resorbable tissue fixation, and others. Among these segments, joint replacement contributes the highest share of the market, this is attributed to the rising cases of osteoarthritis and musculoskeletal disorders globally.
• Based on end user, the market is segmented into hospitals, orthopedic clinics, and others. Among these segments, hospitals contribute the highest share of the market, owing to the high volume of orthopedic procedures like joint replacement, spinal fusion, and bone repair surgeries performed at inpatient facilities.
• Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, North America is expected to dominate the market over the forecast period due to increasing investments and funding in the research and development of orthopedic biomaterials.
• Among all the segmentation, the glass-ceramic & bioactive glasses from material type segment is expected to dominate the market over the forecast period due to increasing product launches by market players.

Global Orthopedic Biomaterial Market - Cross Sectional Analysis

Among the end user segment, the hospitals segment is expected to be dominant in the Asia Pacific region owing to the increasing advancement of technologies in orthopedic department of hospitals. For instance, on March 30, 2022, The SRV Hospitals Group, an Indian hospital network, collaborated with Lokmanya Hospital in Pune to establish a new center of excellence in robotic orthopaedics known as the "SRV LHPL Centre of Excellence for Robotic Orthopaedics." This specialized program aligns with SRV Hospitals' mission of bringing cutting-edge technology and infrastructure to assure world-class patient care and outcomes.

Global Orthopedic Biomaterial Market- Key Developments

•  In September 2021, Stryker Corporation launched the Citrelock Tendon Fixation Device System. The novel method offers surgeons a distinct design via a tendon thread that incorporates Citregen, a resorbable technology with unique chemical and mechanical capabilities for orthopedic surgical applications.
• In February 2022, Bonalive Biomaterials Ltd., a medical device company based in Finland, announced that the U.S. Food and Drug Administration's Center for Devices and Radiological Health has determined that Bonalive Orthopaedics granules, made of a unique S53P4 bioactive glass, qualify for designation as a breakthrough device.
• In March 2022, Synergy Biomedical, LLC, a provider of revolutionary biomaterial solutions, announced the launch of BIOSPHERE FLEX SP EXTREMITIES, a synthetic bioactive bone graft. BIOSPHERE FLEX SP Extremities is a sheet putty consisting of unique spherical bioactive glass grains mixed with a porous collagen and sodium hyaluronate carrier that employs Synergy's exclusive BIOSPHERE Technology. This product complements the Synergy FLEX sheet putty product line. Flex SP Extremities intends to be a key player in the Upper and Lower Extremity markets.

Global Orthopedic Biomaterial Market-Key Trends

• Increasing Mergers and Acquisitions: Various market players are engaged in adopting strategies such as mergers and acquisitions, which are expected to drive market growth over the forecast period. For instance, in February 2020, Olympus Corporation, a medical technology company, announced that it had acquired FH ORTHO SAS, an international orthopedic company headquartered in Heimsbrunn, France, following the close of a definitive agreement the two companies signed in the summer of 2020. The acquisition underscores Olympus’ commitment to expanding in the growing field of medical devices for orthopedic minimally invasive surgery (MIS) both organically and through mergers and acquisitions, with the overarching goal of developing innovative solutions that improve clinical outcomes, reduce overall costs, and enhance quality of life for patients.

Global Orthopedic Biomaterial Market- Restraint

• High Costs Associated With Orthopedic Biomaterials: The high costs associated with advanced orthopedic biomaterials are a major restraint on market growth. Many newer orthopedic biomaterials, like bioactive glass, pyrocarbon, porous metals, and reinforced polymer composites, come at a high price compared to traditional options like stainless steel and ultra-high molecular weight polyethylene. For instance, porous titanium implants can cost several thousand dollars more than conventional titanium implants. The high costs of these newer orthopedic biomaterials limits adoption, especially in price-sensitive markets. Patients and providers may opt for cheaper traditional biomaterials or reuse devices like external fixators to reduce costs. The costs associated with orthopedic biomaterials like research and development activities processing, and regulations also get passed on to the healthcare provider and patient. Unless costs become competitive with conventional materials, the expense of newer orthopedic biomaterials will restrict market growth mainly to developed regions. To overcome this challenge, market players should focus on developing cost-effective solutions.

Global Orthopedic Biomaterial Market - Key Players

The major players operating in the global orthopedic biomaterial market include B. Braun Melsungen AG, CONMED Corp., Evonik Industries AG, Medtronic Plc., Smith & Nephew Plc., Stryker Corp., Victrex Plc. (Invibio Ltd.), and Zimmer Biomet Holdings Inc., Globus Medical, Heraeus Holding GmbH, Exactech Inc., Collagen Matrix Inc., Koninklijke DSM N.V., DePuy Synthes.

*Definition: Orthopedic biomaterials are materials used to replace or repair damaged or diseased bones, joints, and tissues. The most common orthopedic biomaterials include metals, ceramics, polymers, and natural biomaterials. Metals such as stainless steel, titanium, and cobalt-chromium alloys are commonly used for their high strength and fracture toughness. However, metals can corrode over time and release toxic metal ions. Ceramics like alumina and zirconia are inert and biocompatible but are brittle. Polymers, including ultra-high-molecular weight polyethylene, polymethylmethacrylate bone cement, and polyester fibers, have more flexibility but less strength. Natural biomaterials like collagen and hyaluronic acid are biocompatible and biodegradable but lack mechanical strength.