Orthopedic Implants Market Size By Product (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Orthobiologics, Trauma & Craniomaxillofacial Implants and Others), By Biomaterial (Ceramics Biomaterials, Metallic Biomaterials, Polymeric Biomaterials and Natural Biomaterials Constipation), By Type (Knee Fracture, Spine Fracture, Hip Replacement, Shoulder Replacement and Others), By End-User (Hospitals, Orthopedic Clinics, Home Cares and Others), Regions, Segmentation, and forecast till 2029.
Pune India, Dec. 21, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Orthopedic Implant market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the Orthopedic Implant market is present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the Product, Biomaterial, Type, End-user, and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Orthopedic Implant market are Zimmer Biomet Holdings, Stryker Corporation, Johnson & Johnson , Medtronic Plc, NuVasive, Arthrex, Inc, DJO Finance LLC, Smith and Nephew Plc., CONMED Corporation, among Others. To achieve a substantial market share in the worldwide Orthopedic Implant market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
In order to support or replace fractured bones or joints, medical devices referred to as orthopaedic implants are used. In order to make them strong, titanium and stainless steel alloys are used, combined with a plastic coating that acts as synthetic cartilage. These implants can be used to treat orthopaedic traumas, different types of arthritis, and fractures. Additionally, orthopaedic implants are useful in joint replacement surgeries, which entail removing the damaged joint and replacing it with a prosthesis. The astounding shift from invasive standard procedures to minimally invasive surgery has had a positive impact on market growth. Hip fractures typically cause significant pain. This is why it is recommended to perform surgery right away. In order to prevent later medical problems like bed sores, blood clots, and pneumonia, early fracture treatment and getting the patient out of bed are essential. Elderly persons who have been bedridden for a very long time are especially susceptible to disorientation, which makes rehabilitation and recovery much more difficult. Orthopaedic implants and nails both contribute significantly to the mending process. Since it impacts tissue receptivity, biocompatibility, stiffness, and corrosion, the choice of implant material is crucial. The surface form of the implants affects both their stability within the bone and the stability of the cement mantle around them.
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Scope of Orthopedic Implant Market Report
|Market Share Unit||USD Billion|
|Segments Covered||Product, Biomaterial, Type, End-User and Regions|
|Regions Covered||North America, Europe, Asia-Pacific, South America and Middle-East and Africa|
|Major Players||Zimmer Biomet Holdings, Stryker Corporation, Johnson & Johnson , Medtronic Plc, NuVasive, Arthrex, Inc, DJO Finance LLC, Smith and Nephew Plc., CONMED Corporation, among Others.|
The Reconstructive Joint Replacements segment is expected to be the fastest-growing segment in 2021.
The Product segment includes Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Orthobiologics, Trauma & Craniomaxillofacial Implants and Others. The Reconstructive Joint Replacements segment is expected to witness the highest growth rate during the forecast period. Reconstructive joint implants are predicted to hold the largest market share during the forecast period and thus dominate the market. This category is expected to maintain its dominance during the market’s growth phase as a consequence of the sharp rise in osteoarthritis and osteoporosis cases.
The metallic biomaterials segment is expected to be the fastest-growing segment in 2021.
The Biomaterial segment includes Ceramics Biomaterials, Metallic Biomaterials, Polymeric Biomaterials and Natural Biomaterials Constipation. The metallic biomaterials segment is expected to witness the highest growth rate during the forecast period. The Biomaterials segment has been increasing because it has many advantages. Compared to other materials employed, metallic biomaterials are more affordable and promote better bone repair. They are primarily employed in the production of several orthopaedic implants, including plates, screws, and VCF devices.
The knee fracture segment is expected to be the fastest-growing segment in 2021.
The Type segment includes Knee Fracture, Spine Fracture, Hip Replacement, Shoulder Replacement and Others. The knee fracture segment is expected to be the fastest-growing segment in 2021. The frequency of bone injuries and joint dislocations has steadily increased due to the incidence of road traffic accidents, to retain its position in the future. Due to the rising incidence of sports injuries, which is seen as a result of the players’ greater competition, the number of bone injuries has also grown. Accidental lifestyle choices that result in obesity are now a significant contributor to a number of bone fractures and joint problems. Due to the fact that the knee carries the body’s direct weight, a number of reasons have contributed to the knee market’s growth. Additionally, this has resulted in a variety of spinal problems, which spurs market expansion.
The hospital segment is expected to be the fastest-growing segment in 2021
The End user segment includes Hospitals, Orthopedic Clinics, Home Cares and Others. The Hospital segment is expected to be the fastest-growing segment in 2021. The major hospitals that provide implantations are to blame for the segment’s domination with their wide reimbursement practices. The industry is also expected to increase as a result of manufacturer attempts to provide cutting-edge goods through partnerships with important institutions and greater usage of innovative implantation techniques such as robot-assisted orthopaedic surgery. The installation of robotic equipment for orthopaedic surgeries by prestigious hospitals in the U.S., the U.K., and other industrialised nations has been crucial in drawing a sizable patient population for treatment at these institutions.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the Orthopedic Implant include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- The North America region witnessed a major share. Due to the growing elderly population, Ortho America presently controls the orthopaedic implants industry. Additionally, the gradual movement in favour of less invasive techniques also contributes to market expansion in this area. Additionally, increased R&D expenditures by well-known pharmaceutical companies and rising disposable incomes are fostering market expansion in this region.
Germany’s Orthopedic Implants market size was valued at USD 1.73 billion in 2021 and is expected to reach USD 4.28 billion by 2029, at a CAGR of 12% from 2022 to 2029. With the exception of spinal compression fracture, Medtronic was the dominant competitor in every significant market (VCF). The company’s broad portfolio across all market categories has contributed to its longevity as a market leader. The second-largest rival in the spinal implant and VCF market was DePuy Synthes. In all significant market categories, it was the secondary competitor. Thoracolumbar fixation was a market category where the firm held the biggest market share in Germany.
China’s Orthopedic Implants’ market size was valued at USD 1.44 billion in 2021 and is expected to reach USD 3.08 billion by 2029, at a CAGR of 10% from 2022 to 2029. The trauma product has the greatest localisation rate in China out of all the other forms of OMD. Domestic manufacturers predominate in many hospitals since their trauma OMD essentially has a similar degree of quality to that of overseas manufacturers. However, because to the fact that many domestic items are still of a lower quality than imported goods, joint and spine products are still mostly produced by foreign companies, particularly in first-tier cities.
India’s Orthopedic Implants market size was valued at USD 1.30 billion in 2021 and is expected to reach USD 2.59 billion by 2029, at a CAGR of 9% from 2022 to 2029. The expanding senior population in India and the prevalence of disorders like diabetes, obesity, osteoarthritis, and osteoporosis are what is driving the market for orthopaedic devices. The market for Indian orthopaedic devices is also anticipated to be driven by an increase in traffic accidents over the next years. Through FY2026, it is also predicted that rising healthcare costs would drive the industry.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by increasing orthopaedic injuries or diseases.
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