The orthopedic biomaterials market had a value of above $14 billion in 2021, and it will advance at a growth rate of about 10% in the coming years, to reach above $32 billion by 2030. The reconstructive joint replacements had the largest demand in 2021, with revenue of above $4 billion, and it would grow at a significant growth rate of above 9%, in the future. This is for the reason that the occurrence of severe damage and late-stage osteoarthritis is quickly increasing.
The hospitals had the largest demand of approximately, 42%. In many nations, hospital admissions and patients visiting for orthopedic procedures have significantly increased over the past twenty-thirty years. Patients generally like to be treated at hospitals since contemporary therapeutic approaches are available here.
The rise in musculoskeletal problems will boost the growth of the orthopedic biomaterials market. Musculoskeletal ailments are the main causes of disability worldwide, according to research, with these disabilities upsetting 20-30% of people. Fractures, inflammation, and pain in the joints, ligaments, and tendons are the prevalent musculoskeletal issues resulting in constrained mobility.
North America has the highest demand for orthopedics biomaterials and will grow at a significant rate in the coming years. This is due to the increase in the volume of patients experiencing knee reconstruction and replacement and other treatments.
APAC will grow at the fastest rate of 10%, in the near future. The growing number of cases of musculoskeletal ailments, like bone degenerative illnesses, in evolving nations is one of the important reasons helping the regional industry to grow. Furthermore, the surging healthcare spending, along with the developments in the healthcare infra will have a positive impact on the demand for orthopedic biomaterials in this region.
The increasing geriatric population and the increasing cases of people having musculoskeletal conditions have a positive impact on the demand for orthopedic biomaterials.
