Orthopedic Biomaterials Market Major Companies: Current Trends & Opportunities by 2027
Growing Adoption of Orthopedic Materials in Joint Replacement Procedures to Propel Market Growth
Within the past couple of decades, the healthcare sector has witnessed advancements and innovations. Research and development activities continue to bring to the fore new medications, therapies, and treatments. However, despite these advancements, unmet clinical requirements to treat degenerative conditions and orthopedic injuries continue to pose a major challenge for healthcare systems across the world. Advancements in bio implant engineering have paved the way for several biological alternatives that are aimed at retaining, modifying, and restoring the functionalities of different organs. Moreover, rapid progress in the material technology has enabled the deployment of an array of materials for implant applications.
Orthopedic biomaterials are increasingly being used for joint replacements, ortho biologics, spine implants, and bio-resorbable tissue fixation, among others. The demand for orthopedic biomaterials is expected to witness considerable growth during the forecast period (2019-2027), due to a range of factors. Some of the leading factors that are expected to steer the global orthopedic biomaterials market past US$ 21.3 Bn mark include exponential rise in aging population, shift toward nanophase materials from conventional materials, and growing adoption of 3D printed orthopedic implants. Stakeholders in the current orthopedic biomaterials market landscape are likely to focus on improving designs of nanophase materials to improve reliability and functionalities of implants.
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Stakeholder Likely to Explore Benefits of 3D Printing for Tissue Engineering
Advancement in the 3D printing technology is expected to create a strong impact on the orthopedic biomaterials market during the forecast period, as stakeholders continue to explore its potential for tissue engineering. 3D printed implants, smart biomaterials, and porous structures are some of the trends one can expect within the orthopedic biomaterials market during the forecast period. These advancements in the orthopedic biomaterial market are anticipated to play a key role in the development of implants with improved functionalities. Although the commercialization of these orthopedic biomaterials was a major challenge for a considerable time period, at present, the adoption of orthopedic biomaterials is on the rise. Furthermore, due to drawbacks of conventional orthopedic biomaterials, including quality, implant life, and cost of the treatment, demand for advanced orthopedic biomaterials is projected to grow at a healthy pace during the assessment period, thus driving the orthopedic biomaterials market.
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At present, the application of 3D printing within the tissue engineering and regenerative medicine field are bound by the choice of biomaterials, and research and development activities are expected to change the narrative in the coming years. Research and development activities are paving the way for new biomaterials that can be utilized in 3D printing techniques. The advent of 3D printing is expected to significantly boost the demand for orthopedic biomaterials, owing to the advantages associated with fabricating scaffolds. Some of the major benefits offered by 3D printing in the orthopedic biomaterial market include improved capability to develop complex geometries, co-culture of numerous cells, and most importantly integrate growth factors. At present, composites, polymers, and ceramics are some of the orthopedic biomaterials that are increasingly being used in biomaterial 3D printing.
Innovations to Fuel Adoption of Smart Biomaterials
In the past few years, there have been significant innovations in the regenerative medicines space due to the benefits of biomaterials. At present, biomaterial-based tissue engineering strategies are offering promising results due to which the demand for such ‘smart’ biomaterials is expected to witness substantial growth. Staggering developments as far as stem-cell-based techniques are concerned to have gradually opened the door for new and effective solutions to treat a range of diseases. In the current scenario, owing to the progress in nanotechnology, both natural as well as artificial biomaterials can be deployed to produce 3D scaffolds. Stakeholders in the current orthopedic biomaterials market are seeking solutions to improve the integration of implants made from orthopedic biomaterials. Research and development activities are focusing on finding new techniques wherein orthopedic biomaterials can be used to enhance healing and restoring different physiological functions of the bone. Modern-day bone tissue engineering techniques have largely benefitted from the use of biomaterials to create 3D biodegradable and porous bioactive scaffolds.
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