Global Orthopedic Implants Market Size To Witness A CAGR of 5.30% By 2032
According to analysts at Zion Market Research, the valuation of the global orthopedic implants market in 2023 was around USD 45.67 billion and is projected to attain about USD 71.94 billion by 2032, growing at about 5.30% CAGR during the forecast period.
The prominent players of the global orthopedic implants market profiled comprise Zimmer Biomet Holdings, Inc., Johnson & Johnson (DePuy Synthes), Medtronic Plc, Stryker Corporation, Wright Medical Group N.V., Smith and Nephew Plc, Arthrex, Inc., CONMED Corporation, Globus Medical Inc., and DJO Finance LLC.
Increase In Incidence Of Orthopedic Diseases Or Injuries Likely To Spur Market Growth
The global orthopedic implants market is anticipated to develop at a rapid rate owing to the risk of oerstoarthitis and osteoporosis becoming more ordinary as one approaches old age. Thereby, the increase in the incidence of orthopedic diseases or injuries and the rapid rise in the aging population across the world is expected to propel the market growth. Further, technological improvements in the orthopedic implants industry, enhancement of healthcare infrastructure in the budding nations, and approval for implantable medical devices are also anticipated to boost the market growth. Moreover, rising cases of sports accidents and joint replacements worldwide would also help the market grow during the forecast period. Nevertheless, the high price related to processes involving orthopedic implant treatment and strict government rules might hinder the market growth.
Reconstructive Joint Replacements To Grab The Major Market Share
The reconstructive joint replacements segment, based on product type, is anticipated to occupy the highest share of the market. This expansion can be credited to the rising incidence of osteoarthritis and osteoporosis, developments in joint replacements, along an increase in spending by major players in the research & development of orthopedic implants. Further, the orthobiologics segment is projected to witness swift growth during the years to come on account of the increase in demand for minimally invasive procedures, cutting-edge therapies, and a rise in patient alertness about the use of orthobiologics.
North America To Continue Its Dominance Over The Global Market
North America is anticipated to continue its dominance over the global orthopedic implants market during the forecast period. The market expansion is propelled by the rising healthcare expenditure by the local government along with the deep-rooted healthcare infrastructure in Canada and the US. Also, the increasing elderly population within North America will propel the growth of the global orthopedic implants market during the forecast period. Moreover, Asia Pacific is also projected to witness significant market growth in the coming period as a result of rising awareness of the use of several orthopedic implants, developing healthcare infrastructure, and nascent market needs.
Orthopedic Implants Market: Competitive Analysis
The global orthopedic implants market is dominated by players like:
- Arthrex
- Zimmer Biomet US 2 Holding Inc s, Inc.
- Globus Medical
- CONMED Corporation
- Johnson & Johnson (DePuy Synthes)
- Medtronic Plc
- Wright Medical Group N.V. V.
- Stryker
- Smith+Nephew Plc.
- DJO Finance Corporation
The global orthopedic implants market is segmented as follows:
By Product Type
- Reconstructive Joint ReplacementsKnee Replacement ImplantsHip Replacement ImplantsExtremitiesUpper ExtremityShoulderElbowWristLower ExtremityUpperLower
- Spinal ImplantsSpinal Fusion DevicesThoracolumbar DevicesCervical Fixation DevicesInterbody Fusion DevicesVertebral Compression Fracture (VCF) DevicesBalloon Kyphoplasty DevicesVertebroplasty DevicesMotion Preservation Devices/Non-Fusion DevicesDynamic Stabilization DevicesArtificial Disc Replacement DevicesAnnulus Repair DevicesNuclear Disc ProsthesesInvasive Spinal Bone Stimulators
- Dental ImplantsRoot Form Dental ImplantsPlate Form Dental Implants
- Trauma
- OrthobiologicsDemineralized Bone Matrix (DBM)AllograftBone Morphogenetic Protein (BMP)Viscosupplementation ProductsSynthetic Bone SubstitutesOthers
- Others
By Biomaterial
- Metallic BiomaterialsStainless steelTitanium AlloyCobalt AlloyOthers
- Polymeric Biomaterials
- Ceramic Biomaterials
- Others
By Type
- Knee
- Hip
- Wrist & Shoulder
- Dental
- Spine
- Ankle
- Others
By Region
- North AmericaThe U.S.Canada
- EuropeFranceThe UKSpainGermanyItalyRest of Europe
- Asia PacificChinaJapanIndiaSouth KoreaSoutheast AsiaRest of Asia Pacific
- Latin AmericaBrazilMexicoRest of Latin America
- Middle East & AfricaGCCSouth AfricaRest of Middle East & Africa
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