Market Challenges And Opportunities

Global Orthopedic Biomaterial Market - Drivers

Rising Prevalence of Musculoskeletal Disorders: The rising prevalence of musculoskeletal disorders such as osteoarthritis, rheumatoid arthritis, and osteoporosis is a major driver propelling the growth of the global orthopedic biomaterial market. For instance, according to the Centers for Disease Control and Prevention (CDC), June 2023, 1 in 4 (or 53.2 million) U.S. adults had some form of arthritis in 2021. While there are estimated to be more than 100 types of arthritis, osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million U.S. adults. The aging population and obesity epidemic have significantly contributed to the increasing musculoskeletal disease burden. With life expectancy rising globally, the World Health Organization (WHO) report for 2022 estimates that the population aged 60 years or older will increase from 1 billion in 2020 to 1.4 billion by 2030. Since advanced age is a prominent risk factor for osteoarthritis, osteoporosis, and other musculoskeletal conditions, the exponential growth of the elderly demographic will lead to a higher disease burden and greater demand for orthopedic treatments involving biomaterials.
Advancements in Orthopedic Biomaterials and Implant Technology: Continual advances in orthopedic biomaterials and implant designs are driving market expansion by improving clinical outcomes and the longevity of implants. Active research is underway to develop innovative biomaterials like porous titanium, biodegradable polymers, and 3D printed constructs that can better integrate with native bone, stimulate bone regeneration, and reduce stress shielding compared to traditional metal implants. For instance, in July 2023, Himed, a biomaterials company located in the U.S., and Lithoz, a worldwide industry leader in 3D printing based in Austria, announced a collaboration to create novel bioceramic feedstocks. The two companies have entered into a long-term strategic materials research partnership agreement to investigate novel integrations of Himed's calcium phosphate (CaP) biomaterials with Lithoz's proprietary ceramic binder utilized in their cutting-edge CeraFab S65 medical 3D printer.

Global Orthopedic Biomaterial Market- Restraint

High Costs Associated With Orthopedic Biomaterials: The high costs associated with advanced orthopedic biomaterials are a major restraint on market growth. Many newer orthopedic biomaterials, like bioactive glass, pyrocarbon, porous metals, and reinforced polymer composites, come at a high price compared to traditional options like stainless steel and ultra-high molecular weight polyethylene. For instance, porous titanium implants can cost several thousand dollars more than conventional titanium implants. The high costs of these newer orthopedic biomaterials limits adoption, especially in price-sensitive markets. Patients and providers may opt for cheaper traditional biomaterials or reuse devices like external fixators to reduce costs. The costs associated with orthopedic biomaterials like research and development activities processing, and regulations also get passed on to the healthcare provider and patient. Unless costs become competitive with conventional materials, the expense of newer orthopedic biomaterials will restrict market growth mainly to developed regions. To overcome this challenge, market players should focus on developing cost-effective solutions.

Global Orthopedic Biomaterial Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems regarding transportation of raw materials and finished products from one place to another.
The COVID-19 pandemic had a negative impact on the global orthopedic biomaterial market owing to the decreasing number of orthopedic surgical procedures. For instance, according to Plos One journal, 2022, a study conducted in Prague, the capital of the Czech Republic, showed a significant reduction in the care of orthopaedic and trauma outpatients (reduction in healthcare by 24–54%). A reduction in the number of elective surgeries by 69–87% during 2020-2021 was also observed.