South Korea Orthopedic Biomaterials Market Size & Outlook
South Korea orthopedic biomaterials market, 2018-2030 (US$M)
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South Korea orthopedic biomaterials market highlights
- The South Korea orthopedic biomaterials market generated a revenue of USD 167.5 million in 2023 and is expected to reach USD 305.6 million by 2030.
- The South Korea market is expected to grow at a CAGR of 9% from 2024 to 2030.
- In terms of segment, ceramics & bioactive glass biomaterials was the largest revenue generating material in 2023.
- Polymers Biomaterials is the most lucrative material segment registering the fastest growth during the forecast period.
Orthopedic biomaterials market data book summary
| Market revenue in 2023 | USD 167.5 million |
| Market revenue in 2030 | USD 305.6 million |
| Growth rate | 9% (CAGR from 2023 to 2030) |
| Largest segment | Ceramics & bioactive glass biomaterials |
| Fastest growing segment | Polymers Biomaterials |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Ceramics & Bioactive Glass Biomaterials, Polymers Biomaterials, Calcium Phosphate Cements, Metal Biomaterials, Composites |
| Key market players worldwide | Koninklijke DSM NV, Evonik Industries AG, Stryker Corp, DePuy Synthes, Zimmer Biomet Holdings Inc, Globus Medical Inc Class A, Exactech, Matexcel, AdvanSource Biomaterials Corporation, Invibio, CAM Bioceramics, Heraeus |
Other key industry trends
- In terms of revenue, South Korea accounted for 0.8% of the global orthopedic biomaterials market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China orthopedic biomaterials market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,521.1 million by 2030.
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Orthopedic Biomaterials Market Scope
Orthopedic Biomaterials Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea orthopedic biomaterials market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to orthopedic biomaterials market will help companies and investors design strategic landscapes.
Ceramics & bioactive glass biomaterials was the largest segment with a revenue share of 32.66% in 2023. Horizon Databook has segmented the South Korea orthopedic biomaterials market based on ceramics & bioactive glass biomaterials, polymers biomaterials, calcium phosphate cements, metal biomaterials, composites covering the revenue growth of each sub-segment from 2018 to 2030.
Key factors anticipated to drive the market include increasing prevalence of osteoarthritis, especially among the geriatric population of the country. According to an online article published in the Innovative Publishing Co. LLC. in 2017, South Korea spends approximately 5 million per year on orthopedic treatments. Moreover, shoulder and hip disorders are very common in the country.
Furthermore, there is also a high demand for knee replacements in the country owing to the growing medical tourism and low cost of replacement surgeries as compared to other neighboring countries. However, it has been analyzed that in South Korea, patients have started to prefer cement-less knee replacements, owing to which the demand for biocompatible orthopedic implants, such as polymer biomaterials and metal biomaterials, is increasing in the country.
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Our clientele includes a mix of orthopedic biomaterials market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea orthopedic biomaterials market, including forecasts for subscribers. This country databook contains high-level insights into South Korea orthopedic biomaterials market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea orthopedic biomaterials market size, by material, 2018-2030 (US$M)
South Korea Orthopedic Biomaterials Market Share, 2023 & 2030 (US$M)
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