Orthopedic Implants Market to Register a CAGR of 4.1% till 2026 Increasing Incidence of Osteoporosis to Fuel the Market: Fortune Business Insights

(MENAFN- The Express Wire) Orthopedic Implants Market to Register a CAGR of 4.1% till 2026; Increasing Incidence of Osteoporosis to Fuel the Market: Fortune Business Insights

Posted on Mar 11 2021 4:38 AM

"Orthopedic Implants Market report offers insights into the latest trends. It highlights leading companies in the market and discusses the strategies that these companies have adopted in recent years. Additionally, the report encompasses several factors that have contributed to the growth of the market in recent years."

The global 'Orthopedic Implants Market Size is set to touch USD 64.0 billion by 2026, exhibiting a modest CAGR of 4.1% during the forecast period. Unprecedented rise in geriatric population across the globe to be the key growth driver of this market. According to the United States Census Bureau (USCB), the proportion of aged people to the total world population is steadily climbing. For example, in 2012, world population had reached 7 billion and the people aged 65 and above were 8% of this number or 562 million. In 2015, the number rose by 55 million, with the percentage increasing to 8.5% of the total population in a span of 3 years. The USCB predicts that between 2025 and 2050, this geriatric population will double to reach 1.6 billion, whilst the total population will grow only by 34%. This, the USCB states, is attributable to the reduction in fertility rates around the world and lengthening lifespans due to advancements in medical technologies. This is expected to substantially broaden the base of the market, especially the joint reconstruction segment, as per the orthopedic implants market trends.

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

• BioTek Instruments, Inc.
• Zimmer Biomet
• Integra LifeSciences Corporation
• DePuy Synthes Companies (Johnson & Johnson Services, Inc.)
• ArthroCare Corporation
• Medtronic
• CONMED Corporation
• Smith & Nephew

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The report covers:

• Global Orthopedic Implants Market trends, with detailed analysis on consumer trends & manufacturer trends.
• Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
• Key areas of investments identifying market opportunities and challenges in forecast timeframe.
• Competitive analysis of the industry players along with the overview on strategic management.
• Comprehensive company profiles of the major industry players.

North America to Hold a Commanding Position; Europe to Grow at an Impressive Rate

Among regions, North America is expected to dominate the global orthopedic implants market share owing to the increasing incidence of osteoarthritis in the region. Europe is projected to grow at a considerable rate on account of rapid spread of chronic diseases such as diabetes and obesity in the continent. In Asia-Pacific, rise in healthcare expenditure and increasing disposable incomes will propel the market in the region, as per the orthopedic implants market analysis by Fortune Business Insights. However, the market growth in Africa, Latin America, and the Middle East is anticipated to be slow due to low levels of development in these regions.

Widespread Prevalence of Musculoskeletal Conditions to Spike Market Demand

Musculoskeletal conditions refer to disorders that adversely affect the locomotor system in the body, that is, bones, muscles, joints, ligaments, and tissues. Disorders related to these movements are increasing in prevalence, as stated by the World Health Organization (WHO). According to the WHO, between 20% and 33% of the world's population is currently suffering from some painful and chronic musculoskeletal disease. The 2017 Global Burden of Disease Report revealed that musculoskeletal conditions were the second leading contributor to global disability, accounting for about 16% of all years with disability in an individual's life. Given the economic costs associated with these disorders, the need to prevent them is stronger than ever today, which augurs well for the market as it will spur innovation among players in the forecast period.

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Reasons to Purchase this Report:

• Comprehensive analysis of the Orthopedic Implants Market growth drivers, obstacles, opportunities, and other related challenges.
• Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
• Identifies market restraints and boosters.
• Identifies all the possible segments present in the market to aid organizations in strategic business planning.

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