America Orthopedic Biomaterial Market Synopsis:
According to Market Research Future (MRFR)’s latest America Orthopedic Biomaterial Market insights report has estimated the industry at USD 0.3 billion in 2022. According to projections, the America Orthopaedic Biomaterial Market sector will expand from USD 0.34 billion in 2023 to USD 0.9 billion by 2032, with a compound annual growth rate (CAGR) of 12.30% throughout the course of the forecast period (2023-2032).
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 America Orthopedic Biomaterial Market. Additionally, the rising rate of accidents causing bone injuries coupled with increasing count of Knee Replacement surgeries are likely to expedite the expansion of the America 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 America 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.
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 America 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.
Market Segmentation:
By material, the America 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, America 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.
Regional Outlook:
The regional analysis of the America 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 America 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 America 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.
Competitive Dashboard:
Some of the key players profiled in the America Orthopedic Biomaterial Market outlook 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).
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