Americas Orthopedic Biomaterial Market Set to Register a Double-Digit CAGR during the Forecast Period 2020 to 2027
Americas Orthopedic Biomaterial Market information, By type of material (Metal and Non metal), By Application (Joint Replacement, fracture Fixation Devices, Tissue Fixation, Spine implants Viscosupplementation and Other) - Forecast to 2027
Market Synopsis:
According to Market Research Future (MRFR)’s latest analysis, the Americas orthopedic biomaterial market is set to thrive at a robust CAGR of 11.5% during the forecast period 2017 to 2023. The extensive use of biomaterials for internal fracture fixation is one of the key factors responsible for the growth of the market.
The increasing orthopedic patient pool coupled with the exponential geriatric population is expected to drive the proliferation of the Americas orthopedic biomaterial market. Additionally, the rising rate of accidents causing bone injuries coupled with increasing count of knee surgeries are likely to expedite the expansion of the Americas orthopedic biomaterial market over the assessment period.
The rising demand for hip replacement surgeries is another major factor projected to have a positive impact on the expansion of the Americas orthopedic biomaterial market in the forthcoming years. Furthermore, the growth of the orthopedic branch of medicine is anticipated to reflect on the growth of the Americas orthopedic market over the next couple of years.
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The increasing patient pool has encouraged the government to take initiatives for increasing awareness as well as seamless access to orthopedic surgeries. This, in turn, is projected to augment the Americas orthopedic biomaterial market through the review period. Meanwhile, factors such as high cost and failure of joint implants are poised to hold the growth of the market in the next few years.
Competitive Dashboard:
Some of the key players profiled in this report are Carpenter Technology Corporation (US), CeramTec (Germany), Ceradyne (US), Heraeus Medical Components (US), Purac Biomaterials (US), Acumed (US), Amedica Corporation (US), Osteotech, Inc. (US), Cam Bioceramics B.V. (Netherland), Materion Corporation (US), Ulbrich Stainless Steel & Special Metals, Inc. (US), Kyocera Corporation (Japan), Ticona GmbH (Germany), Johnson & Johnson (US), and Landec Corporation. (US).
Market Segmentation:
By material, the Americas orthopedic biomaterial market has been segmented into metals and non-metals. The metals segment is further sub-segmented into stainless steel, Titanium Alloy, Cobalt alloy, and others. The non-metals segment has been sub-segmented into ceramic, polymeric, natural biomaterials and others.
By application, Americas orthopedic biomaterial market has been segmented into joint replacement, fracture fixation devices, tissue fixation, spine implants, viscosupplementation, and others. The joint replacement segment has been sub-segmented into hip replacement, knee replacement, shoulder and elbow replacement and others. The tissue fixation segment has been sub-segmented into interference screws, suture anchors and others. The spine implants segment is sub-segmented into spine fusion and others. The fracture fixation devices segment has been sub-segmented into screws, plates for bones, rods, and others.
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Regional Outlook:
The regional analysis of the Americas orthopedic biomaterial market spans across the U.S., Canada, and the Rest of America. The U.S. is the most significant country-level market of the region and is poised to witness substantial growth in the forthcoming years. The growth is attributable to the developments in the market coupled with rising number of joint replacement surgeries. Furthermore, the presence of key players in the region is projected to expedite the momentum of growth of the Americas orthopedic biomaterial market. Other factors responsible for the swift proliferation of the market include rising healthcare expenditure, technological advancements in the healthcare sector, hassle-free reimbursement policies, etc.
Canada is another major growth pocket of the region which is expected to exhibit considerable growth over the assessment period. The most important factor responsible for contributing towards the expansion of the Americas orthopedic biomaterial market is the exponentially growing geriatric population. Meanwhile, the Rest of America resonate strong opportunities for growth and is prognosticated to exhibit moderate growth during the projection period.
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