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Global Orthopedic Biomaterial Market, By Material Type (Glass-ceramic & Bioactive Glasses, Calcium Phosphate Cements, Polymer, Metals, Composites), By Application (Joint Replacement, Spine Implants, Orthobiologics, Viscosupplementation, Bio-resorbable Tissue Fixation), By End User (Hospitals, Orthopedic Clinics, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 11,896.5  million in 2020 and is expected to exhibit a CAGR of 9.9% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Increasing the demand for orthopedic implants particularly among geriatric population owing to rise in the risk of osteoporosis, osteoarthritis, technological innovations in the orthopedic implants, and other musculoskeletal disorders.

Orthopedic implants are designed to replace or support a missing or damaged bone or joint. These implants used to treat the deformities, stabilize body posture, and restore the normal skeletal function. The orthopedic implants market is segmented based on material type, end-user, and region.

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

The coronavirus pandemic has affected business and economic activities of various industries globally. The pandemic had a crucial impact on the U.S., Japan, China and many major European countries. Since most of these countries are major manufacturers of biomaterials, the pandemic and nationwide lockdowns caused a decline in the business and consumer spending until the end of the 2020. The transportation of raw materials between regions cannot be carried out successfully. This shortage of raw materials and components have affected the supply chain. This, in turn, had a slightly negative impact on the biomaterials market. However, the market is focusing to recover in the next one to two years as research for development of rapid COVID-19 detection test support market growth.

Browse 18 Market Data Tables and 31 Figures spread through 154 Pages and in-depth TOC on “Global Orthopedic Biomaterial Market”- Forecast to 2027, Global Orthopedic Biomaterial Market, By Material Type (Glass-ceramic & Bioactive Glasses, Calcium Phosphate Cements, Polymer, Metals, Composites), By Application (Joint Replacement, Spine Implants, Orthobiologics, Viscosupplementation, Bio-resorbable Tissue Fixation), By End User (Hospitals, Orthopedic Clinics, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in the Global Orthopedic Biomaterial Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/orthopedic-biomaterial-market-4474

Moreover, increasing prevalence of musculoskeletal disease and disorder is expected to drive the market growth over the forecast period. For instance, as per Health line Media report published in 2018, rheumatoid arthritis affects 41 in every 100,000 people per year. Approximately, 1.3 million Americans have rheumatoid arthritis.

Key Takeaways of the Global Orthopedic Biomaterial Market:

  • The Global Orthopedic Biomaterial Market is expected to exhibit a CAGR of 9.9% during the forecast period owing to the increasing investments by companies in research and development of novel medical nutritional products targeting various health conditions, as well as funding by various companies operating in nutrition industries
  • Among application, Joint replacement segment held major market share in Global Orthopedic Biomaterial Market in 2019, owing to increasing demand for joint implants due to rise in the prevalence of hip fracture in geriatric population. According to United Health Foundation report 2015, more than 30,000 adult aged 65 and older estimated to be hospitalized each year for hip fracture. For instance, in 2018 Zimmer Biomet global leader in musculoskeletal healthcare collaborated with Apple Inc. American multinational technology company for the development of new application called ‘Zimmer Biomet Mymobility’ to promote connection between patients undergoing hip or knee replacement surgery and care provider.
  • Among application, orthobiologics segment is expected to drive the market in 2020 due to increasing the number of reconstructive and regenerative surgeries rising the demand for orthobiologic product. For instance in march 2019, Bioventus, global leader in orthobiologic solutions, launched OSTEOAMP SELECT Fibers, an allograft for spine, foot & ankle, orthopaedic, and trauma surgeons.
  • Major players operating in the Global Orthopedic Biomaterial Market are B. Braun Melsungen AG, CONMED Corp., Evonik Industries AG, Medtronic Plc., Smith & Nephew Plc., Stryker Corp., Victrex Plc., and Zimmer Biomet Holdings Inc., Globus Medical, Heraeus Holding GmbH, Exactech Inc., Collagen Matrix Inc., Koninklijke DSM N.V. (DSM Biomedical B.V.), Invibio Ltd., and DePuy Synthes.
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