iData is excited to announce one of our brand-new 2022 market reports on the U.S. orthopedic biomaterials market. As expected, 2020 was an unusual year mainly due to the global COVID-19 pandemic, which caused a 6.7% decrease in the U.S. Orthopedic Biomaterials Market from 2019 to 2020. Despite a large majority of orthopedic surgeries being postponed during 2020 and 2021, the market is expected to return to pre-pandemic numbers within the next few years. Specifically, the market value is expected to increase from $3.7 billion in 2021 to $4.7 billion in 2028. If you find yourself interested in learning more about the future of the U.S. orthopedic biomaterials market.
What segments are in the U.S. Orthopedic Biomaterials market?
The U.S. orthopedic biomaterials market includes bone graft substitutes, growth factors, cellular allografts, cell therapies, hyaluronic acid viscosupplementation, and cartilage repair.
Bone graft substitutes fill bone voids or act as extenders to eliminate the need for autograft harvesting.
Growth factors are naturally occurring proteins within the human body, and the growth factor products exploit their regenerative properties in bone repair surgeries.
Cellular allografts consist of allograft bone combined with stem cells. These offer a complete solution for bone repair through osteoconduction, osteoinduction, and osteogenesis.
Cell therapies are cell concentration systems that take a portion of blood or bone marrow and produce a concentrate.
Hyaluronic acid viscosupplementation is a product used for direct injection into the knee to relieve pain caused by osteoarthritis.
Finally, cartilage repair products utilize cartilage in multiple different ways to treat patients.
What does the future have in store for this market?
Over the forecast period, the U.S. orthopedic biomaterials market expects to reach approximately $4.7 billion by 2028 at a CAGR of 3.6%. Among the multiple segments across the orthopedic biomaterials market, the largest was bone graft substitutes, with hyaluronic viscosupplementation closely behind. the largest was hyaluronic acid viscosupplementation. Alone, this market had a valuation of over $1.3 billion, constituting one-third of the market.
Segment growth for the bone graft substitute market has been consistent and is expected to continue following this trend, as bone graft substitutes have already proven in many cases to be effective. The ability of these products to be paired alongside other biomaterials, like cell therapy products, will also help them preserve their share of the market.
COVID-19 Impact On Orthopedic Procedures
The impact of COVID-19 on the U.S. orthopedic biomaterials market was notable, but the market is expected to return to pre-pandemic numbers within the next few years. As the pandemic grew, hospitals shut down elective surgeries as hospital beds, personal protective equipment (PPE) and hospital staff were devoted to treating COVID-19 patients in addition to urgent procedures. This meant that a large majority of orthopedic surgeries were postponed during 2020 going into 2021.
Which companies are competing within the U.S. orthopedic biomaterials market?
The top two competitors are Medtronic, and DePuy Synthes.
As of 2021, Medtronic has retained its spot as the leader within the U.S. orthopedic biomaterials market, largely thanks to its growth factor product, INFUSE®. The company maintained a strong presence within the bone graft substitute market as well, and it is expected to continue holding its top spot in the next few years.
DePuy Synthes remained the second-leading player within the U.S. orthopedic biomaterials market in 2021. This is due to a very strong presence in the bone graft substitute, cellular allograft and hyaluronic acid segments.
Other market leaders include Zimmer Biomet, Stryker, Sanofi and Bioventus. With the acquisition of Wright Medical, Stryker drastically increased its market share in the bone graft substitute space.
U.S. ORTHOPEDIC BIOMATERIALS MARKET RECAP AND FURTHER INSIGHTS
For more information on unit sales, average selling prices (ASPs), procedural volume, competitive analyses, and more, follow the link below to receive a free market synopsis for the U.S. orthopedic biomaterials market. Additionally, iData offers a complete Asia-Pacific series of resorts (Australia, China, Japan, India, South Korea).