The orthopedic biomaterials market will witness a robust CAGR of 10.36%, valued at USD 19.56 bn in 2023, expected to appreciate and reach USD 52.42 bn by 2033.

NEW YORK CITY, NEW YORK, UNITED STATES, January 16, 2023 /EINPresswire.com/ -- The global orthopedic biomaterials market will witness a robust CAGR of 10.36%, valued at USD 19.56 billion in 2023, and expected to appreciate and reach USD 52.42 billion by 2033.

This report includes historical data as well as forecasts for revenue growth at the national, regional, and global levels. This report also analyses industry market dynamics and potential opportunities. The report provides insight into global trends in orthopedic biomaterials and highlights key industry developments. In addition to the previously mentioned factors, the report also covers other important industry developments.

Key Market Segments

Type

Metal Orthopaedic Biomaterial
Non-Metal Orthopaedic Biomaterial

Application

Facial
Body
Other

Learn more about the Research Methodology:-

Market Drivers:
The market is seeing an increase in the number of people with joint problems due to aging. According to the United Nations Department of Economic and Social Affairs' 2019 report, there were 703 million people 65 and older. This number is expected to increase to 1.5 billion by 2050. The orthopedic biomaterial market is experiencing significant revenue growth due to an increase in sports injuries, increased trauma cases resulting from accidents, as well as an increase in orthopedic procedures like joint reconstruction and joint arthroplasty.

Key Market Players included in the report: https://market.us/report/orthopedic-biomaterials-market/request-sample

Stryker Corporation
Zimmer Biomet Holdings
Wright Medical Group
Koninklijke DSM N.V.
Johnson & Johnson
Exactech
Globus Medical
Acumed
Amedica Corporation
Medtronic PLC

Market Restraint:
Restricted reimbursement options have hampered the market's growth, resulting in lower reimbursements for orthotic implants in different countries. The lack of reimbursements has also forced manufacturers to lower the prices of these products, limiting the market growth.

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Market Opportunity:
Many government and non-government programs have been implemented to increase public awareness about orthopedic biomaterials. This will help to boost the market growth over the forecasted time. In India, for example, the government selected a biodegradable prototype of an orthopedic implant to be commercialized in 2019.

Recent Developments:
Stryker, an American Fortune 500 company that makes medical equipment, entered into a definitive agreement with Wright Medical to buy it for USD 5.4Bn in November 2019. This acquisition will allow Stryker to sustain and improve its orthopedic segment. It will also give Wright Medical's biologics and extremities segments a greater level.

DiFusion was approved by the FDA in November 2019 to launch the Xiphos ZF spinal interbody device. This is the first spine implant made of Zfuze biomaterial.

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