Orthopedic Biomaterials Market Insights Business Opportunities Forecast To 2023
Posted by vamshi1 on September 24th, 2020
The Business Research Company published its Orthopedic Biomaterials Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global Orthopedic Biomaterials market. The report provides in-depth analysis of the impact of COVID-19 on the market, along with revised market numbers due to the effects of the coronavirus.
The report covers the orthopedic biomaterials market’s segments-
Orthopedic Biomaterials Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
The global orthopedic biomaterials market is expected to decline from .64 billion in 2019 to .43 billion in 2020 at a compound annual growth rate (CAGR) of -9.67%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Several medical care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. The orthopedic surgeries have been postponed and, in some cases, cancelled due to the COVID-19 lockdown. The restrictions on non-essential medical services including orthopedic services coupled with slowed production of orthopedic implants and biomaterials due to extending factory closures in various countries are contributing to the markable decline in the market growth. The market is then expected to recover and reach .62 billion in 2023 at a CAGR of 17.7%.
3D printing of orthopedic implants is one of the recent developments in the orthopedic biomaterials market. 3D printing technology is used to produce a large range of medical equipment, such as those with complicated structures or characteristics to suit a patient’s particular anatomy. 3D printing of orthopedic implants enables the design of more natural anatomical shapes, as well as the design of porous bone replacement scaffolds that can be easily integrated into the design of the implant. This allows natural bone regeneration to generate higher reliability of the implant. 3D printing of orthopedic implants is a trend in the orthopedic biomaterial market that is attracting many players.
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