Per the report, the surge in demand for orthopedic biomaterial is driven by augmenting hip and knee replacement surgeries, the growing geriatric population, the rising aging population, and the increasing awareness regarding orthopedic disorders and their treatment.
Moreover, according to the report, citing the demand and potentials of orthopedic biomaterials, the governments of various countries are also providing funds and grants for developing new and advanced biomaterials.
However, the rising failure of joint implants and the high cost of production of biomaterials are some factors that can hinder the growth of the market up to some extent.
Metals are the most widely used orthopedic biomaterial, and they find wide application in arthroplasty and fracture-fixation devices. However the report predicts high double-digit growth in the use of ceramics, polymers, and orthobiologics in the next 5 years.
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[Source(s): Research and Markets, PR Newswire]