America Orthopedic Biomaterials Market Booming: Aging Population & Sports Injuries Drive 12.3% CAGR Growth | Rising Demand for Joint Replacements & Next-Gen Materials

Market Overview

The America Orthopedic Biomaterial Market was valued at USD 0.3 billion in 2022. It is anticipated to grow to USD 0.9 billion by 2032, with a projected compound annual growth rate (CAGR) of 12.30% during the forecast period (2023 - 2032). Key drivers fueling market growth include increasing rates of musculoskeletal disorders, chronic skeletal diseases, and injuries resulting from sports, accidents, falls, and other incidents.

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Market Trends

The rising prevalence of musculoskeletal disorders and chronic skeletal issues is driving demand for orthopedic biomaterials, consequently accelerating market growth. This demand is expected to further increase with the expanding elderly population, which is more prone to such ailments. For example, according to the U.S. Census Bureau, there was a significant increase of 1.6 million individuals in the 65 and older age group. Another contributing factor to the surge in demand for orthopedic biomaterials is the escalating number of trauma cases resulting from falls, accidents, and sports-related injuries. As participation in sports and leisure activities continues to rise, so does the likelihood of sustaining injuries.

According to the National Health Statistics Reports, approximately 213 million Americans aged 6 and older engaged in sports and fitness activities, up from 209 million. Furthermore, the expansion of orthopedic procedures such as viscosupplementation, joint reconstruction, and joint arthroplasty is bolstering market growth. There is also a growing demand for next generation orthopedic biomaterials tailored to meet the specific requirements of various orthopedic procedures.

However, market expansion faces challenges such as limited payment coverage options for orthopedic biomaterials and declining reimbursement rates for orthopedic implants in several countries. The lack of adequate reimbursement has compelled suppliers to reduce product prices, thereby impeding market growth to some extent.

Competitive Insights

Key Companies in the America Orthopedic Biomaterial Market include

Materion Corporation
Carpenter Technology Corporation
Ulbrich Stainless Steel & Special Metals, Inc.
CeramTec
Ceradyne
Heraeus Medical Components
Kyocera Corporation
Ticona GmbH
Purac Biomaterials
Acumed
Amedica Corporation
Johnson & Johnson
Osteotech, Inc.
Cam Bioceramics B.V.
Landec Corporation

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Market Segmentation:

By Material:

In the Americas orthopedic biomaterial market, materials are segmented into metals and non-metals. The metals segment further includes stainless steel, titanium alloy, cobalt alloy, and others. The non-metals segment is sub-segmented into ceramic, polymeric, natural biomaterials, and others.

By Application:

The Americas orthopedic biomaterial market is segmented by application into joint replacement, fracture fixation devices, tissue fixation, spine implants, viscosupplementation, and others. Within joint replacement, sub-segments include hip replacement, knee replacement, shoulder and elbow replacement, and others. Tissue fixation includes interference screws, suture anchors, and others. The spine implants segment comprises spine fusion and others. Fracture fixation devices are sub-segmented into screws, plates for bones, rods, and others.

Regional Outlook:

The regional analysis covers the U.S., Canada, and the Rest of America. The U.S. stands out as the largest market within the region, expected to experience significant growth fueled by market developments and an increasing number of joint replacement surgeries. The presence of key market players further accelerates growth, along with factors like rising healthcare expenditure, technological advancements, and favorable reimbursement policies.

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Canada presents another substantial growth opportunity, driven primarily by its growing geriatric population. Meanwhile, the Rest of America offers moderate growth prospects, with various factors contributing to its expansion, including evolving healthcare infrastructure and increasing awareness about orthopedic biomaterials.

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