The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Orthopedic Biomaterials Global Market Report 2024, the orthopedic biomaterials market is expected to show significant growth in the forecast period.

Introduction: A Market Poised for Growth

• Rapid expansion from $18.62 billion in 2023 to $20.51 billion in 2024.
• Expected compound annual growth rate (CAGR) of 10.2%.
• Key drivers: technological advancements, increased healthcare expenditure, rise in healthcare facilities, and economic growth.

Future Outlook: A Landscape of Opportunity

• Projections indicate growth to $34.03 billion in 2028.
• Forecasted CAGR of 13.5%.
• Drivers: increased prevalence of obesity and arthritis, rapid growth in the geriatric population, and rising joint replacement surgeries.
• Major trends: 3D printing technology for implant manufacturing, development of innovative products, smart biomaterials implants, and increased merger and acquisition activities.
• Key strategies: expansion through innovative product launches, acquisitions, and mergers.

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Rising Musculoskeletal Disorder Incidence Fuels Growth Of The Orthopedic Biomaterials Market

• Musculoskeletal disorders contribute significantly to disability worldwide.
• WHO reports 20-33% of the population suffer from musculoskeletal disability.
• Conditions worsen with age; increased attention through SDGs and the Decade of Healthy Ageing.
• Biomaterials crucial for treating musculoskeletal disorders, thus driving market growth.

Leading Players: Pioneers in Orthopedic Biomaterials

• Major companies: Zimmer Biomet Holdings, Stryker Corporation, Johnson & Johnson, and more.
• Diverse range of offerings to address various orthopedic needs.
• Strategic focus on innovation and customer-centric solutions.

Increasing Focus On Product Innovations To Provide Reliable Services To Their Customers

• Companies investing in innovative products like tendon fixation devices.
• Example: Acuitive Technologies Inc. introduces a new ACL device utilizing citregen for enhanced healing.
• Emphasis on materials that aid natural healing processes.

Enovis Acquired Lima Corporate To Enhance Portfolio

• Enovis, a US-based company, acquired Lima Corporate for $847 million in September 2023.
• Acquisition aimed at expanding recon portfolio and global presence.
• Strategic move to drive cross-selling revenue growth and cost reductions.

Market Segmentation: Understanding the Landscape

• Material types: Ceramics & Bioactive Glasses, Calcium Phosphate Cements, Polymers, Metals, Composites.
• Applications: Orthopedic Implants, Joint Replacement/Reconstruction, Bio-Resorbable Tissue Fixation, among others.
• End-users: Hospitals, Clinics, and other healthcare facilities.

North America: Leading the Charge

• Largest region in the orthopedic biomaterials market in 2023.
• Continues to drive market growth with advanced healthcare infrastructure and high healthcare expenditure.

Conclusion: A Bright Future Ahead

• Orthopedic biomaterials market poised for substantial growth in the coming years.
• Technological advancements, demographic shifts, and strategic investments fuel market expansion.
• Players focused on innovation and strategic partnerships to capitalize on emerging opportunities.
• Continued attention to market trends crucial for stakeholders navigating this dynamic landscape.

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