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DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The 'orthopedic implants market, global forecast 2023-2028, industry trends, growth, impact of inflation, opportunity company analysis' report has been added to
The Global Orthopedic Implants Market is anticipated to reach US$ 68.71 Billion by 2028 according to the publisher. Globally, an orthopedic implant is a medical device that is surgically inserted inside the body to reinforce or replace a damaged bone structure and restore bone function.
After achieving the intended outcomes, these implants are either removed or permanently incorporated into the human body. Depending on the patient's condition, the orthopedic surgeon uses various surgical techniques to implant the implants into the body.
The appropriate material choice for an orthopedic implant depends on its intended use. Orthopedic implants frequently use ceramics, polymers, and metallic alloys. These substances have various physical, chemical, and biological characteristics that are suitable for particular purposes.
Global Orthopedic Implants Market will grow with a 5.51% CAGR during the forecast period:
The rapid rise in the geriatric population, who are more susceptible to orthopedic problems, and the rising prevalence of orthopedic disorders such as arthritis and osteoarthritis are some of the factors driving the market's growth. In addition, an increase in accidents and injuries, traumas, middle-age bone disorders, and bone viscosity issues are expanding the orthopedic implant market.
Furthermore, technical advancements like robot-assisted surgical instruments, acceptance of implanted medical devices, and widespread use of orthopedic implants to treat musculoskeletal and orthopedic illnesses, & injuries are boosting the orthopedic implants market growth.
By Application: Joint Reconstruction holds the lion's share:
Based on application, the orthopedic implants market is divided into joint reconstruction, spinal implants, trauma implants, dental implants, orthobiologics, and others.
The joint reconstruction segment dominated the market due to the rapid increase in the cases of osteoarthritis, the rising geriatric population, and technological advancements in joint reconstruction devices. Additionally, increased R&D activities and rising healthcare expenditures will boost the joint reconstruction segment's growth during the forecast period.
Ceramics & Bioactive Glass and Polymers Segments are growing significantly:
Due to the rising use of ceramics in various treatments for the repair of hard tissues, the ceramics & bioactive glass sector is growing significantly. On the other hand, the polymer category is predicted to experience growth due to its widespread application as bone cement and load-bearing surfaces for total joint arthroplasties. Additionally, the availability of advanced polymers and biopolymers for various applications is further responsible for boosting the polymers biomaterial segment.
Hospitals & Surgery Centers acquire the most significant share:
Based on end users, the orthopedic implants market is divided into hospitals & surgery centers, orthopedic clinics, and others. Hospitals & Surgery Centres hold the largest share due to the availability of the latest equipment and technologies, skilled healthcare professionals, and favorable reimbursement policies. Additionally, collaborations between hospitals and key players to create advanced surgical procedures will enhance the market growth during the forecast period. Furthermore, due to the growing number of orthopedic clinics and technological improvements, the orthopedic clinics segment will experience significant growth throughout the forecast period.
By Region: North America dominates the Orthopedic Implants Market:
In 2022, North America dominated the global orthopedic implants market owing to the presence of various key players in the North American region, the strong penetration of robotic and digital technologies in healthcare, and the rising prevalence of orthopedic illnesses. Furthermore, the growing geriatric population, the gradual movement in favor of minimally invasive techniques, and rising R&D expenditures will also contribute to market expansion in the North American region during the forecast period.
On the other hand, the Asia Pacific region will also grow during the forecast period because of the increasing investments made by major market participants to increase their regional presence, the rising number of operations performed, and the rapidly advancing healthcare infrastructure in the region. As per this research report, Worldwide Orthopedic Implants Market was US$ 49.80 Billion in 2022.
Covid-19 Impact on the Global Orthopedic Implants Market:
The COVID-19 epidemic negatively impacted the orthopedic implant market because hospitals and healthcare services were reduced drastically due to social distancing measures implemented by governments all over the world. As a result, the whole healthcare sector concentrated on COVID-19-related and life-saving procedures during the pandemic. Additionally, the majority of surgical procedures were either canceled or delayed, which hampered the growth of the orthopedic implant market. However, the orthopedic implant market regained its potential growth as soon as elective surgeries were performed.
Key Players Analysis:
Conmed Corporation, Medtronic plc, Stryker Corporation, NuVasive Inc, Smith & Nephew Inc, Zimmer Biomet Holdings, Integra Lifesciences Holdings, and Baxter are the leading key players in the Global Orthopedics Implants Market. The leading players are implementing strategies like product innovations, mergers, acquisitions, collaborations, partnerships, joint ventures, and new advancements to strengthen their global market position in the orthopedic implants market.
Key Topics Covered:
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
5. Global Orthopedic Implants Market
6. Market Share - Global Orthopedic Implants
6.1 By Application
6.2 By Material
6.3 By End User
6.4 By Region
7. Application - Global Orthopedic Implants Market
7.1 Joint Reconstruction
7.2 Spinal Implants
7.3 Trauma Implants
7.4 Dental Implants
8. Material - Global Orthopedic Implants Market
8.1 Ceramics & Bioactive Glasses biomaterials
8.2 Polymers Biomaterials
8.3 Calcium Phosphate Cements
8.4 Metal Biomaterials
9. End User - Global Orthopedic Implants Market
9.1 Hospitals & Surgery Centers
9.2 Orthopedic Centers
10. Region - Global Orthopedic Implants Market
10.1 North America
10.3 Asia Pacific
10.4 Rest of World
11. Key Players Analysis
11.1 Conmed Corporation
11.1.1 Business Overview
11.1.2 Recent Development
11.1.3 Sales Analysis
11.2 Medtronic Plc
11.2.1 Business Overview
11.2.2 Recent Development
11.2.3 Sales Analysis
11.3 Stryker Corporation
11.3.1 Business Overview
11.3.2 Recent Development
11.3.3 Sales Analysis
11.4 NuVasive Inc
11.4.1 Business Overview
11.4.2 Recent Development
11.4.3 Sales Analysis
11.5 Smith & Nephew Inc
11.5.1 Business Overview
11.5.2 Recent Development
11.5.3 Sales Analysis
11.6 Zimmer Biomet Holdings
11.6.1 Business Overview
11.6.2 Recent Development
11.6.3 Sales Analysis
11.7 Integra Lifesciences Holdings
11.7.1 Business Overview
11.7.2 Recent Development
11.7.3 Sales Analysis
11.8.1 Business Overview
11.8.2 Recent Development
11.8.3 Sales Analysis
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