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The Global Orthopedic Implants Market size is estimated to grow by USD 12.55 billion at a CAGR of 5.72% between 2023 and 2028. Major growth drivers include the increasing incidence of knee injuries such as ACL ruptures and meniscus tears. The future of orthopedic implants and implantable medical devices looks promising with continued demand driven by rising knee injury cases and advancements in treatment methods.
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The market encompasses a wide range of medical devices used in various procedures, including joint replacements, spinal surgeries, and fracture repairs. This market caters to the needs of both physicians and patients, particularly the geriatric population, who are prone to conditions such as osteoporosis and osteoarthritis. Advanced implants made of metals and biomaterials are increasingly being used to enhance treatment outcomes.
The joint reconstruction implants segment is estimated to witness significant growth during the forecast period. The market encompasses metal and plastic devices employed in joint reconstruction procedures, including joint replacements and spinal surgeries. This market caters to the treatment of various orthopedic disorders, such as fracture repairs, osteoporosis, and arthritic conditions. The market's largest segment involves implants used for knee and hip replacements, which are in high demand due to the increasing prevalence of diseases and injuries related to these joints. Factors driving market growth include the rising patient attendance for preventive services and screening, the increasing number of orthopedic disorders, and the launch of advanced implants.
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The joint reconstruction implants segment was valued at USD 13.85 billion in 2018. The geriatric population, with a higher susceptibility to musculoskeletal disorders, represents a significant opportunity for market expansion. The trend toward digital technology integration in orthopedic surgeries, such as monitoring and diagnosis, has further boosted market growth. The ongoing COVID-19 outbreak has led to workflow modifications in healthcare entities, increasing the need for efficient and effective implant manufacturing processes. Health-conscious consumers and physicians continue to seek innovative solutions for treating such conditions, creating a continuous demand for new implant offerings. The market is expected to experience significant growth during the forecast period, with entities focusing on research and development to meet the evolving needs of patients.
The hospitals segment witnessed significant market growth due to the increasing adoption of advanced materials such as orthobiologics, metallic biomaterials, ceramic biomaterials, and polymers in orthopedic treatments. Hospitals, as major end-users, are investing in these cutting-edge technologies to cater to the expanding demands of patients with orthopedic diseases, including osteoarthritis, rheumatoid arthritis, spinal disorders, and fractures caused by sports-related injuries or age-related wear and tear. The adoption of advanced materials has led to the development of minimally invasive procedures, which have gained popularity due to their reduced recovery time and lower risk of complications. Companies such as Arthrex are at the forefront of this trend, offering innovative solutions for bone healing and bunionectomy systems.
In conclusion, the market is witnessing robust growth due to the increasing prevalence of orthopedic diseases, the aging population, and the adoption of advanced materials and minimally invasive procedures. The market is expected to continue growing as hospitals and implant manufacturers work together to provide high-quality implants and innovative treatments for patients.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The market encompasses a range of materials and products used in the treatment of orthopedic diseases and injuries. Key materials include Orthobiologics, Metallic biomaterials, Ceramic biomaterials, and Polymers biomaterials. Orthobiologics, derived from natural sources, promote bone healing through the use of cells, proteins, and growth factors. Metallic biomaterials, such as bone plates, are commonly used in the treatment of fractures and orthopedic trauma implants. Ceramic biomaterials offer advantages in terms of biocompatibility and resistance to corrosion. Polymers biomaterials provide flexibility and are used in the production of orthopedic devices.
Additionally, the adoption of these materials continues to grow due to the increasing prevalence of orthopedic diseases, including rheumatoid arthritis and spinal disorders. Arthritis and sport-related injuries are also significant drivers of market growth. Companies such as Arthrex and Bunionectomy System are at the forefront of innovation in this field, developing advanced implant systems and surgical tools. Market trends reflect the ongoing research and development efforts in the field. Bone plates and other implants made from various materials continue to evolve, offering improved functionality and patient outcomes. The market is expected to grow significantly in the coming years, driven by the increasing demand for effective and durable implant solutions.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Arthrex Inc., Auxein Medical Inc., B.Braun SE, Conmed Corp., Corin Group Plc, Enovis Corp., Globus Medical Inc., icotec AG, Johnson and Johnson Services Inc., Medtronic Plc, Narang Medical Ltd., Naton Medical Group, Orthofix Medical Inc., OrthoPediatrics Corp., Pega Medical Inc., RTI Surgical Inc., Smith and Nephew plc, Stryker Corp., and Zimmer Biomet Holdings Inc.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Further, the manufacturing sector plays a crucial role in the production and distribution of these implants. Digital technology has revolutionized workflows in the orthopedic field, enabling more precise and efficient procedures. The opportunity for growth in this market is significant, as health-conscious consumers continue to seek advanced solutions for joint issues. Orthopedic doctors specialize in the diagnosis and treatment of disorders related to the musculoskeletal system. They perform surgeries such as knee replacement procedures to alleviate pain and improve mobility. The market is expected to expand, driven by the increasing prevalence of bone-related conditions and the development of innovative implant technologies. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
High prevalence of osteoporosis is the key factor driving the market. The market encompasses the production and distribution of metal and plastic devices used in various bone-related procedures, including joint replacements, spinal surgeries, and fracture repairs. These implants are essential in addressing orthopedic disorders such as osteoporosis and osteoarthritis, which affect millions of patients annually in the US, leading to an increased need for preventive services, screening, and medical treatments. The market has seen significant growth due to the rising geriatric population, who are more prone to musculoskeletal disorders and arthritic conditions. The market is further propelled by the increasing number of joint replacement surgeries and the launch of advanced implants that cater to the health-conscious consumer base. The COVID-19 outbreak has led to workflow modifications in orthopedic surgeries, resulting in a shift towards digital technology for diagnosis, monitoring, and patient attendance.
Moreover, orthopedic doctors and physicians are increasingly utilizing these advanced tools to ensure the safety and efficiency of treatments. The market for orthopedic implants is expected to continue its upward trajectory, with opportunities in knee replacement surgeries, dentistry, and other medical treatments. Manufacturing entities are investing heavily in research and development to create innovative implants that cater to the diverse needs of patients. In summary, the Market is a significant contributor to the healthcare industry, providing essential devices for the treatment of various bone-related diseases and disorders. The market is driven by factors such as an aging population, the increasing prevalence of orthopedic disorders, and advancements in medical technology.
Rising number of strategic alliances is the primary trend shaping the market. The market encompasses the production and commercialization of metal and plastic devices designed for bone joint procedures, including joint replacements, spinal surgeries, and fracture repairs. Patient attendance for preventive services, screening for diseases, and orthopedic disorders continues to drive market growth. Medical treatments and surgeries, such as knee replacement procedures, cater to the geriatric population and those suffering from arthritic conditions and musculoskeletal disorders. The COVID-19 outbreak has necessitated the adoption of digital technology in workflows, enabling remote diagnosis, monitoring, and treatment by orthopedic doctors. The launch of advanced implants and the increasing health-conscious consumer base present significant opportunities for manufacturing entities in the market.
Additionally, joint replacements and orthopedic surgeries are increasingly common, with entities focusing on cost containment, extended product lines, and wide geographical reach to cater to patient needs. The market for orthopedic implants is further influenced by the rise in the prevalence of osteoporosis and osteoarthritis. Dentists and physicians collaborate to provide comprehensive care for patients, ensuring optimal treatment outcomes. In the realm of innovation, entities are developing implants with improved functionality and durability, catering to the evolving needs of patients. The market is expected to continue its growth trajectory, with ongoing research and development in the field of orthopedic implants.
High costs associated with orthopedic implants and procedures is the major challenge that affects the market growth. The Market encompasses a wide range of metal and plastic devices used in the treatment of various bone-related conditions, including joint replacements, spinal surgeries, and fracture repairs. These medical interventions are essential for managing orthopedic disorders such as osteoporosis and osteoarthritis, which affect a significant portion of the global population, particularly the geriatric demographic. The cost of orthopedic implants and related procedures is a significant challenge to market growth. The expense of these medical treatments varies based on the type of implant and the specific procedure.
Furthermore, preventive services, such as screening for diseases and monitoring of orthopedic disorders, are also contributing to the growth of the market. The manufacturing and launch of advanced implants, such as those made with digital technology, are opportunities for market growth. The COVID-19 outbreak has disrupted workflows and orthopedic doctors' ability to diagnose and treat patients effectively. However, the ongoing development of new implants and the increasing demand for orthopedic treatments present significant opportunities for market growth. Orthopedic implants are used in various medical treatments, including knee replacement surgeries, and are essential for managing conditions such as arthritis and musculoskeletal disorders. Dentists and physicians are key entities in the market, as they are often the first point of contact for patients with bone-related conditions. The increasing prevalence of these conditions, particularly in the aging population, is driving demand for orthopedic implants and related procedures.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecast report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is a significant sector in the healthcare industry, focusing on the production and distribution of medical devices used in the treatment of musculoskeletal disorders. These implants are designed to replace or support damaged bones and joints, providing relief and enabling mobility for patients. The market is driven by various factors, including an aging population, increasing prevalence of orthopedic conditions, and advancements in implant technology.
Further, orthopedic implants are available in various forms, including hip implants, knee implants, spinal implants, and shoulder implants. These implants are made from materials such as titanium, ceramics, and polymers, ensuring durability and biocompatibility. The production process involves strict quality control measures to ensure the implants meet regulatory standards and provide optimal patient outcomes. The market is expected to grow at a steady pace due to the increasing demand for minimally invasive surgical procedures and the rising prevalence of orthopedic conditions.
Additionally, the development of advanced implant materials and technologies is expected to further fuel market growth. Diseases such as osteoporosis, arthritis, and spinal disorders are major contributors to the demand for orthopedic implants. The market is highly competitive, with key players focusing on product innovation, strategic collaborations, and expanding their geographical reach to capture a larger market share. In conclusion, the market is a dynamic and growing sector in the healthcare industry, driven by factors such as an aging population, increasing prevalence of orthopedic conditions, and advancements in implant technology. The market is expected to continue growing due to the increasing demand for minimally invasive surgical procedures and the development of advanced implant materials and technologies.
Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.72% |
Market growth 2024-2028 |
USD 12.55 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.32 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 37% |
Key countries |
US, Germany, China, UK, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amplitude SAS, Arthrex Inc., Auxein Medical Inc., B.Braun SE, Conmed Corp., Corin Group Plc, Enovis Corp., Globus Medical Inc., icotec AG, Johnson and Johnson Services Inc., Medtronic Plc, Narang Medical Ltd., Naton Medical Group, Orthofix Medical Inc., OrthoPediatrics Corp., Pega Medical Inc., RTI Surgical Inc., Smith and Nephew plc, Stryker Corp., and Zimmer Biomet Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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