The orthopedic biomaterials market is growing as the U.S. population ages, according to a Transparency Market Research report.
Here are four things to know.
1. Since the ban on embroynic stem cell research in the U.S. was lifted in 2009, there has been a surge of federal funding: the National Institutes of Health spent $1.47 billion in 2012 and $1.39 billion in 2014 on stem cell research.
2. While government funding currently drives the market, the impact of federal funding is expected to decline toward the end of the forecasted period between 2017 and 2025, as the market is anticipated to become self-sustaining.
3. The hip implant product segment of the global orthopedic biomaterials market is expected to make up the major market share due to an increasing geriatric population and adoption of hip procedures. HHS estimates that by 2030, the geriatric population will more than double from 2000 to reach about 72.1 million.
4. Some of the major players in the orthopedic biomaterials product market include Zimmer Biomet, Johnson & Johnson, Globus Medical, Zeus Industrial Products, Wright Medical Technology, Orthofix, Medtronic, and Arthrex.
You can download the full report here.
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