The global orthopedic biomaterial market is majorly driven by the increasing older population leading to increase in the patient population, increasing surgeries, the various government supports, and growing awareness among young population towards health.
According to the United Nations, approximately over 962 million people were aged over 60 and above globally in 2017. The United Nations has also estimated that by 2050, the number of older population is likely to reach 425 million. This increasing aging population is likely to boost the growth of the global orthopedic biomaterial market.
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Factors such as rigorous clinical and regulatory processes are likely to hamper the growth of the orthopedic biomaterial market.
Global Orthopedic Biomaterial market is expected to grow at a CAGR of 10.5% during the forecast period.
Latest Orthopedic Biomaterial Industry Updates
Being a competitive market, a number of different manufacturer are focusing on the product launch, and acquisition for the market development. Some of the latest development in the market are-
Feb 2016, TEKNIMED, a leader in biomaterial and at the forefront in medical solutions of the future, is present in various countries through a network of 250 distributors across the world, launched new biomaterials & surgical solutions in orthopaedics and spine surgery in India
Orchid Orthopedic Solutions is a worldwide leader of medical device outsourcing services from design and development through finished goods manufacturing. The company manufactures the new and advanced orthopedic biomaterials products to the customers.
Regional Analysis for Global Orthopedic Biomaterial Market
Regionally, the global orthopedic biomaterial market is segmented into: America, Europe, Asia Pacific, and the Middle East & Africa.
The Americas holds a significant market share of the global market owing to the presence of huge geriatric population and increasing prevalence of different bones diseases. Additionally, during last few years there is a significant increase in the number of accidents which has also helped in driving the growth of the market. Europe accounts for the second largest market in the globe due to a high patient population, high healthcare expenditure and string government support for research & development. Asia Pacific is expecting the fastest growth for the market owing to the presence of the huge opportunity for the growth of the market. The Middle East & Africa holds the least share in the market owing to the presence of the poor economic conditions Africa. Gulf nations such as Saudi Arabia and the UAE drive the Middle East & African market due to the well-developed healthcare sector and huge per capita income of the people.
Key Players for Global Orthopedic Biomaterial Market
Some of the key players in orthopedic biomaterial market are: Materion Corporation (US), Carpenter Technology Corporation (US), Ulbrich Stainless Steel & Special Metals, Inc. (US), CeramTec (Germany), Ceradyne (US), Heraeus Medical Components (US), Kyocera Corporation (Japan), Ticona GmbH (Germany), Purac Biomaterials (US), Acumed (US), Amedica Corporation (US), Johnson & Johnson (US), Osteotech, Inc. (US), Cam Bioceramics B.V. (Netherland), Landec Corporation. (US), and many more.
Key Questions Answered In This Report:
What will the market size and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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