Asia Pacific Orthopedic Biometrial Market is Expected to Grow at a CAGR of ~ 12.6% by 2023

Pune, India, September, 2017 /MRFR Press Release/- Market Research Future published a half-cooked research report on Asia Pacific orthopedic biomaterial market.

Market Highlights

 Biomaterials are used in the orthopedic treatment. Being inert in nature they are used in the manufacturing of different implants. Many medical implants such as dental implants, knee and hip implants, heart valves and others are prepared by biomaterials. Increasing number of orthopedic surgeries, increasing geriatric population in countries like India and China, increasing prevalence of diseases such as arthritis and osteoporosis have also contributed to the growth of the market. Introduction of titanium implants has minimized the failure of the treatment, which drive the market. High cost of treatment, long approval time for the products, and stringent regulatory laws may hamper the growth of the market over the corresponding period.

Segmentation

Orthopedic biomaterials market is segmented on the basis of type of material, which is segmented into metals and non-metals.  The metals are further segmented into stainless steel, titanium alloy, cobalt alloy, and others. The non-metal are further segmented into ceramic, polymeric, natural biomaterials, and others. The ceramic are sub-segmented into alumina, calcium phosphate, zirconium dioxide, carbon, and other. The polymeric non-metals are sub segmented into polymethylmethacrylate (PMMA), polyethylene, silicone, polyester, and other. The natural biomaterials are sub-segmented into collagen, chitin & chitosan, and other

On the basis of application, the market is segmented into joint replacement, fracture fixation devices, tissue fixation, spine implants, viscosupplementation, and others. The joint replacement is sub-segmented into hip replacement, knee replacement, shoulder and elbow replacement, and other. Tissue fixation is sub-segmented into interference screws, suture anchors and others. Spine implants are further sub-segmented into spine fusion and other. The fracture fixation devices are sub-segmented into screws, plates for bones, rods, and other.

On the basis of end users, the market is segmented into hospital, clinics, and others.

Figure 1- Asia Pacific orthopedic biomaterial market, by type of material

Sources: Annual reports, Press release, White paper, Company Presentation

Regional analysis

China dominates the Asia Pacific orthopedic biomaterial market owing to the presence of huge geriatric population, high healthcare spending, and high incidents of medical emergency. According to the Asian Development Bank, in 2015, over 200 million people was over 65 years in Asia Pacific region. Apart from this, increasing number of medical emergencies, and increasing healthcare spending have paved way for the growth of the market.

India accounts for the second largest market owing to the presence of huge population base and increasing government support for research & development. Other regions in Asia Pacific holds a limited market share.

Key Players

Some of the major players in the Asia Pacific orthopedic biomaterial market are Kyocera Corporation (Japan), Materion Corporation (US), S&V Technologies (Germany), Rayner (UK), InVision Biomedical (US), Covestro (Germany), Invibio Ltd. (U.K.), Royal DSM (Netherlands), BASF SE (Germany), Corbion N.V. (Netherlands), CeramTec (Germany), Tianjin Walkman Biomaterial Co. (China), Kanghui Holdings (China), Johnson & Johnson Services, Inc. (US), Cam Bioceramics B.V. (Netherland), Xian Airfoil Technology Co (China).

Since the cost of the orthopedic biomaterial treatment is high, many manufacturers are focusing on introducing the better and the cost-effective product in the market. Acquisitions, collaborations, and new product launch and expansion are major strategies adopted by some of the players to achieve growth in this market.

Royal DSM, a Dutch multinational company, is active in nutrition, health and materials headquartered in Netherlands. Dyneema Purity is the leading material for use in high-strength orthopedic sutures by the company. Bionate, CarboSil are some of the common polyurethanes manufactured by the company. In 2015, Royal DSM has acquired Cubic Tech.

Materion Corp., the US headquartered multinational company, is specialized in the development of high performance engineered materials. Trident and accolade are the hip implants manufactured by the company.

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