Global orthopedic biomaterials market type is expected to reach $38,100.2 million by 2020 from $22,074.0 million in 2015 at a CAGR of 11.5% from 2015 to 2020. Global Orthopedic Biomaterial Market is segmented into: America, Europe, Asia Pacific, and the Middle East & Africa.
Innovation is the organic strategy to gain the market. Many companies are operating in the market, however, the major companies dominated the major share in the market due to well-developed brand identity. Now-a-days, there is a significant increase in the number of the company offering orthopedic biomaterial. Thus companies are adopting the new strategies to minimize the competition and increase the market. Some major companies are focusing on development of new and advanced products to gain the market share. Whereas, some are has used the technique of acquisition and collaboration to gain the market. There is also growing focus on customizing the material properties of bio-absorbable and composite materials with fillers such as bioactive ceramics.
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The report provides comprehensive view about the orthopedic biomaterials market. The reports includes four types of biomaterials,
Metals, Medical Ceramics, Medical Polymers, Natural Biomaterials and Orthobiologics.
The report also provides in-depth analysis of various applications in which orthopedic biomaterials are used. Furthermore, the report also provides detailed analysis of various geographies including North America, Europe, Asia, and Rest of the World. These geographies have been sub divided into countries such as the U.S., Canada, Germany, France, Italy, the U.K, Spain, India, China, and Japan. The report also covers the Global Orthopedic Biomaterials market landscape and its growth prospects in the coming years.
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.
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Global Orthopedic Biomaterial Market – Overview
Today, orthopedics is still in the search for reliable biomaterial for prosthesis. The biomaterial must have good longevity and other supporting properties in order to maintain low implant failure. The success of an implant depends on many factors. Biomaterial are the natural or synthetic materials origin used for the implants. Many medical implants like dental implants, heart valves and many more are prepared by biomaterials. Biomaterial has find its application in orthopedics. They are used in the various bones transplantation. As biomaterial not cause any immunogenic reaction with the body it makes it as a suitable material for this products. According to the Population Reference Bureau (2016), the number of Americans ages 65 and older was around 46 million which is expected to reach over 98 million by 2060. Increasing geriatric population across the globe has led to increase the incidents of diseases like osteoporosis and arthritis. Beside this increasing age simultaneously increases the possibility of bones problems and injury. Additionally, increasing government support, and increasing healthcare expenditure have fuelled the growth of the market during the forecasted period. Due to lack of time for exercise and poor diet increases the incident of different muscles and bone problems. Race to find the cost-effective alternatives has increases the competition between manufacturers and is the key challenge for them. High cost of the products may slow the growth of the market during the forecast period.
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