Orthopedic Implants Market – Industry Analysis and Forecast (2023-2029)

Orthopedic Implants Market is anticipated to reach US$ 8.47 Bn. by 2029 from US$ 5.52 Bn. in 2022 at a CAGR of 6.3 % during a forecast period.

An orthopedic implant is a surgically implanted medical device that restores bone function by highlighting or replacing a damaged element. The worldwide orthopedic implants market is being driven by the increased frequency of orthopedic disorders such as fractures, osteoporosis, an increase in the number of traffic accidents, and arthritis. The World Health Organization (WHO) expects that rheumatoid arthritis is going to be more prevalent in women and industrialized countries. Obesity, a sedentary lifestyle, long working hours, and a growing sports culture all contribute to the early onset of musculoskeletal diseases, which is expected to drive the orthopedic implants market.To know about the Research Methodology :- Request Free Sample Report
Orthopedic Implants Market Dynamics
Some of the reasons driving the market's growth include an increase in the incidence of orthopaedic injuries or diseases such as arthritis and osteoarthritis, as well as a rapid increase in the senior population, who are more prone to orthopaedic disorders. Additionally, technical advancements such as robot-assisted surgical instruments, adoption of implanted medical devices, and widespread use of orthopaedic implants to treat musculoskeletal, orthopaedic illnesses, and injuries contribute to market growth.

In addition, the growth of the orthopaedic implants market is expected to be boosted by the increase in the mean age during the forecast period. While an aging demographic and medical innovation is expected to continue to drive growth in the orthopaedic implants market, a lack of activity and obesity lead to a high occurrence of degenerative bone disorders and osteoarthritis. This has increased the need for orthopaedic implants all across the world. With a rise in the incidence of athletic accidents and road crashes, demand for trauma-related orthopaedic implants has also been reported to be strong. Recognizing the growing need, orthopaedic implant manufacturers have created new technologies to meet it, while also increasing their product penetration and market reach.

The orthopaedic implants market has seen the growth of customized and unique 3D-printed orthopaedic implants that are combined with assistive imaging techniques such as magnetic resonance imaging and computed tomography, among others. These imaging techniques for designing precise surgical designs, together with the introduction of improved robot-assisted surgical equipment, have increased patient acceptability, resulting in the continued growth of the orthopaedic implants market.

The need for knee and hip orthopaedic implants is expected to rise significantly in the future years, owing to a rising number of anatomic injuries globally. Because joint and knee disorders are frequent in Asia and hip problems are more common in Europe, the sector in these countries is expected to grow steadily during the forecast period. The development of biodegradable implants and internal fixation devices is expected to give prospective growth opportunities for orthopaedic devices for various anatomical locations, boosting the market growth throughout the forecast period.

However, the high expense of operations including orthopaedic implants for therapy, as well as rigorous government rules, are hampering the market growth.
Orthopedic Implants Market Segmentation Analysis
By Product, during the forecast period, the spinal implants segment is expected to grow at a CAGR of xx% in the worldwide orthopaedic implants market. Continuous growth in sports-related and road-related trauma cases, along with growing occurrences of spondylolisthesis and disc degenerative disorders, is likely to drive demand for spinal fusion procedures throughout the forecast period.
Regional Insight
In 2022, the global orthopaedic implants market is expected to increase significantly in North America. The market's growth may be ascribed to factors such as rising acceptance of technologically improved surgical treatments and an increase in the incidence of orthopaedic illnesses such as osteoarthritis among the region's senior population. Furthermore, favorable reimbursement for the treatment of various musculoskeletal problems under the Medicare program is likely to support the market's growth in the region.

Recognizing the growing demand, leading players in the orthopaedic implants market are concentrating on developing new technologies to meet the need while also expanding their product penetration and market reach. Orthopedic implants made using 3D printing technology are preferred by some of the market's leading companies. This technique is assisting in reducing the cost and length of surgery while also providing reasonably long-term stability.

Manufacturers have made significant improvements to implant materials and processing techniques of implant parts as a result of technological advancements in the production of orthopaedic implants, making them more dependable, robust, and long-lasting. Key players, for example, are working on implants made of a new form of plastic called highly cross-linked polyethylene.

However, due to factors such as increased awareness of orthopaedic implants and the development of healthcare infrastructure, Asia Pacific is expected to grow at the fastest rate over the forecast period. Also, an increase in the incidence of road accidents in developing countries, particularly in India, due to a lack of lane discipline, the use of mobile phones while driving, and other behavioural transgressions is likely to drive market growth in this region.

Report Objectives:

Landscape analysis of the Orthopedic Implants Market

competitive benchmarking

Past and current status of the industry with the forecasted market size and trends

Evaluation of potential key players that include market leaders, followers, and new entrants

Technology trends

Potential impact of micro-economic factors of the market

External and Internal factors affecting market have been analysed

The report also helps in understanding the Orthopedic Implants Market dynamics, structure by analysing the market segments and project the Orthopedic Implants Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Orthopedic Implants Market make the report investor’s guide.
Orthopedic Implants Market Scope: Inquiry Before Buying



Orthopedic Implants Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 5.52  Bn


Forecast Period 2023 to 2029 CAGR:
6.3%
Market Size in 2029:
US $ 8.47 Bn.


 Segments Covered:
by Product
Spinal implants
Dental implants
Trauma & craniomaxillofacial implants
Reconstructive joint implants
Orthobiologics
Others


by Procedure
Open Surgery
Minimally Invasive Surgery (MIS)
Others


by Biomaterial
Metallic Biomaterials
Polymer Biomaterials
Ceramic Biomaterials
Natural Biomaterials


by Device Type
Internal Fixation Devices
External Fixation Devices
Orthopedic Rods/Wire
Orthopedic Screws
Orthopedic Plates
Fixation Pins
Orthopedic Nails


by Application
Neck Fracture
Spine Fracture
Hip Replacement
Knee Fracture
Shoulder Replacement
Others


by End-User
Hospital
Orthopedic Clinics
Home Cares
Others



Orthopedic Implants Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Key Players are:
1. Deputy Synthes Inc.
2. Globus Medical, Inc.
3. NuVasive, Inc.
4. Smith & Nephew plc.
5. Stryker Corporation
6. Zimmer Biomet Holdings, Inc.
7. Integra LifeSciences Holdings Corporation
8. Medtronic, plc.
9. The Orthopedic Implant Company
10. B. Braun Melsungen
11. Wright Medical Group N.V.
12. Aesculap Implant Systems
13. BioTek Instruments, Inc.
14. Conmed Corporation
15. Arthrocare Corporation
16. DJO Finance LLC
17. NuVasive, Inc.
Frequently Asked Questions:
1. What is the projected market size & growth rate of Orthopedic Implants Market?
Ans- Orthopedic Implants Market was valued at USD 5.52 billion in 2022 and is projected to reach USD 8.47 billion by 2029, growing at a CAGR of 6.3% during the forecast period.

2. What are the key driving factor for the growth of Orthopedic Implants Market?
Ans- Some of the reasons driving the market's growth include an increase in the incidence of orthopaedic injuries or diseases such as arthritis and osteoarthritis, as well as a rapid increase in the senior population, who are more prone to orthopaedic disorders.

3. Which Region accounted for the largest Orthopedic Implants Market share?
Ans- In 2022, the global orthopaedic implants market is expected to increase significantly in North America.

4. What makes Asia Pacific a Lucrative Market for Orthopedic Implants Market?
Ans- due to factors such as increased awareness of orthopaedic implants and the development of healthcare infrastructure

5. What are the top players operating in Orthopedic Implants Market?
Ans- Deputy Synthes Inc., Globus Medical, Inc., NuVasive, Inc., Smith & Nephew plc., Stryker Corporation, and Zimmer Biomet Holdings, Inc.