Orthopedic Implants Market Size, Share & Trends Analysis Report By Product (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma and Craniomaxillofacial, Orthobiologic, Others), By Biomaterial (Metallic, Ceramic, Polymeric, Natural) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global orthopedic implants market size was valued at USD 25.12 billion in 2023 and is projected to reach a value of USD 47.38 billion by 2032, registering a CAGR of 5.3% during the forecast period (2024-2032). The increase in Orthopedic Implants market share during the forecast period is related to factors such as the rising prevalence of orthopedic disorders, the growing number of orthopedic procedures, and the increasing geriatric population prone to bone conditions.

Orthopedic implants are medical devices that restore or substitute missing, deformed, or damaged cartilage, bones, or joints. These implants are of utmost importance in restoring flexibility, stabilizing the musculoskeletal system, and facilitating mobility for patients who have suffered from degeneration of the joints, traumatic injuries, or bone-related conditions. Screws and plates used to stabilize weak areas and repair fractures are among the many types of orthopedic implants. Prostheses, in place of joints such as the hip and knee, enable patients to regain function and pain-free mobility. Implants of this nature are conventionally composed of bioceramics, bio alloys (e.g., titanium), metal alloys, and polymers, each fulfilling a distinct purpose contingent upon the patient's condition and the intended function of the replacement tissue. 

Orthopedic implants are indispensable in most orthopedic procedures to improve the quality of life for patients with musculoskeletal disorders by restoring the normal function of bones, joints, and tissues. The design and material choice depends on the specific needs of the patient and the type of correction or support required. Orthopedic implants are a crucial part of modern surgical procedures, significantly improving the quality of life for patients with musculoskeletal issues.

Highlights

• By Product, reconstructive joint replacements lead the market.
• Metallic dominates the market based on Biomaterial.

Market Dynamics

Global Orthopedic Implants Market Drivers:

Aging Population

The aging population significantly influences the orthopedic implant market as the incidence of orthopedic disorders among older adults escalates. Conditions such as rheumatoid arthritis, osteoarthritis, and osteoporosis increase with age, leading to joint destruction, bone fractures, and reduced mobility. Orthopedic implants are crucial for restoring or substituting damaged bones and joints. The geriatric population is projected to grow from 1 billion to 1.4 billion globally by 2030, with one in every six individuals expected to be aged 60 or older, according to the World Health Organization. This demographic shift, especially in developed nations, is anticipated to drive demand for orthopedic implants. 

Additionally, the higher occurrence of falls and incidents leading to fractures and musculoskeletal injuries among the elderly contributes to the increased demand for these implants.

Growing Awareness of the Benefits of Orthopedic Implants

Increasing awareness of the benefits of orthopedic implants is another critical market driver. Over 1.7 billion individuals globally are affected by musculoskeletal diseases like arthritis and back pain, leading causes of disability. In India alone, nearly 6 million serious injuries and 12 million minor injuries requiring orthopedic care occur annually due to traffic accidents. Orthopedic implants offer numerous advantages over traditional surgical methods, such as reduced pain, enhanced mobility, and faster recovery. These benefits have increased demand for implants, particularly in developing nations with expanding healthcare access.

For instance, orthopedic implants help repair or replace damaged bones and joints, reducing discomfort and enhancing mobility, allowing individuals to resume daily activities more efficiently. As awareness of these benefits grows, especially in developing regions, the demand for orthopedic implants is expected to rise.

Global Orthopedic Implants Market Restraints:

Stringent Regulatory Requirements

Stringent regulatory requirements pose a significant challenge to the global orthopedic implant industry. These regulations aim to ensure implants' safety, efficacy, and quality but can extend the time and cost of bringing new products to market. Regulatory bodies such as the US Food and Drug Administration (FDA), the European Medicines Agency (EMA), and the Medical Device Regulation (MDR) in Europe require extensive testing, clinical trials, and documentation for approval. The regulatory process can take years and cost millions, causing product launch delays and limiting innovative implants' availability. Additionally, varying regulatory standards across regions complicate the landscape for manufacturers, increasing the time and expense needed to market new products globally.

Limited Access to Orthopedic Implants in Developing Regions

Limited access to orthopedic implants in developing countries is a significant issue due to inadequate healthcare infrastructure, low awareness, and affordability concerns. Healthcare resources are often unevenly distributed in these regions, restricting access to necessary implants. Moreover, more awareness about the benefits and availability of orthopedic implants is needed to improve the situation. Affordability is another critical factor, as many patients in low-income nations cannot afford the high cost of implants. More healthcare financing options and insurance coverage are needed to ensure access. To address these challenges, increased investment in healthcare infrastructure is essential, including expanding hospitals, training healthcare providers, and improving resource distribution. Public health campaigns and educational programs can also raise awareness about the benefits of orthopedic implants.

Global Orthopedic Implants Market Opportunity:

Investments by Governments and Private Healthcare Providers

Governments and private healthcare providers are increasingly investing to meet the rising orthopedic needs of the population. In India, the government, medical educators, and the Indian Orthopaedic Association are working to increase the number of orthopedic surgeons and enhance training in the MBBS curriculum. Both private and government healthcare providers are investing in expanding orthopedic departments and facilities to cater to the growing demand.

For instance, many countries focus on expanding healthcare infrastructure, training healthcare workers, and enacting supportive legislation for orthopedic care. Private providers also invest in cutting-edge facilities, adopt innovative technologies, and offer specialized services. Collaborations between governments and private providers are essential to build comprehensive orthopedic care systems, improve patient outcomes, and drive innovation in orthopedic implants. This strategic resource allocation is crucial for increasing access to orthopedic care and meeting the global demand for implants.

Regional Analysis

The global orthopedic implants market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant market shareholder and is estimated to grow at a CAGR of 4.8% over the forecast period. North America has retained its position as the prominent region in the Global Orthopedic Implants Market, owing to sophisticated healthcare infrastructure, rapid acceptance of new technologies, and an aging population. The United States Food and Drug Administration (FDA) reported a 15% increase in authorized orthopedic implant devices in 2023 compared to the previous year, demonstrating continued innovation in the sector. According to the American Academy of Orthopaedic Surgeons, total knee replacement surgeries in the United States would rise by 8% in 2023, reflecting the growing need for orthopedic implants. 

Additionally, in Canada, Health Canada reported a 12% increase in the number of registered orthopedic implant manufacturers by 2024, indicating a growing industry. The US Centers for Medicare & Medicaid Services reported that spending on orthopedic operations, including implants, increased by 7% in 2024 compared to 2023. These figures reflect North America's sustained leadership in orthopedic implant adoption, fueled by an aging population, the rising prevalence of orthopedic disorders, and a strong emphasis on improving patient outcomes through modern medical technologies.

Europe is estimated to grow at a CAGR of 5.2% over the forecast period, thanks to a robust healthcare system and rising demand for innovative orthopedic treatments. The European Medicines Agency (EMA) authorized ten new orthopedic implant technologies in 2023, a 25% increase over the previous year, demonstrating a regional focus on innovation. According to the European Federation of National Associations of Orthopaedics and Traumatology, the number of hip replacement surgeries in EU countries would rise by 6% in 2023, indicating an increasing demand for orthopedic implants. 

Similarly, the UK National Joint Registry reported a 10% rise in the usage of 3D-printed custom orthopedic implants in 2024 compared to 2023, demonstrating the acceptance of sophisticated manufacturing processes. In Germany, the Federal Joint Committee (G-BA) has authorized coverage for five new types of orthopedic implants in 2024, thereby increasing access to novel therapies. These figures indicate Europe's strong position in the orthopedic implants market, backed by factors such as an aging population, well-established healthcare systems.

Segmental Analysis

The global orthopedic implants market is segmented based on product and biomaterial.

The market is further segmented by product into reconstructive joint replacements, spinal implants, dental implants, trauma, craniomaxillofacial, ortho biologics, and others. 

In the orthopedic implants market, the Reconstructive Joint Replacements category dominates. It had a market share of approximately 43%. This sector comprises hip and knee replacement devices, among the most prevalent orthopedic surgeries. The increased frequency of osteoarthritis and the growing number of seniors, who are more prone to joint problems, account for a sizable portion of this market.  The ever-increasing senior population, technological improvements, and the rising prevalence of orthopedic disorders, including osteoporosis and osteoarthritis, all contribute to the demand for these implants. Furthermore, the increase in sports injuries and the growing adoption of minimally invasive surgeries help drive this market segment's growth.

The spinal implants segment also has a significant market component, accounting for 19%. This can be attributed to the increased prevalence of spinal illnesses and advances in spinal surgery procedures.  Overall, the reconstructive joint replacements category is expanding due to demographic trends, patient choices for higher quality of life, and implant design and materials advances. 

The market is further segmented by biomaterial into metallic, ceramic, polymeric, and natural.

The metallic biomaterials section led the market. This dominance is due to their widespread use in medical implants such as heart valves, stents, grafts, prosthetic joints, ligaments, tendons, and dental implants. They are selected because of their longevity, robustness, and biocompatibility, which are essential features for such applications.

However, it is vital to note that trends in the biomaterials market might fluctuate as technology advances and demand changes. For example, the polymeric biomaterials category is considerable and expected to maintain its dominance in the following years due to its adaptability and wide range of uses. Polymers are widely used in drug delivery systems, tissue engineering, and other medical applications because they are flexible and may be created with precise qualities.

Impact of covid-19

The pandemic led to a temporary lockdown of the nations, which on a wide scale hindered the verticals of businesses and the industry. The automobile industry, which primarily involves outdoor jobs, has been poorly exposed to the challenges that have contributed to a dramatic decrease in car sales. Furthermore, the instability of the supply chain market mainly due to the closing of national and foreign borders and the adherence to the decision not to use Chinese produced products hampered the growth of the market. However, the considerable spike seen in the sale of the automotive vehicle to limit the usage of public and crowded places may positively affect the growth of the market in the upcoming years.

Recent Developments

• February 2024- Zeda, Inc. (Zeda), a worldwide frontrunner in pioneering healthcare solutions, announced with great pride the acquisition of The Orthopaedic Implant Company (OIC), the market leader in value-based implants for orthopaedic implants. This strategic acquisition represents a substantial advancement for Zeda as it reinforces its dedication to transforming the worldwide production and distribution of medical devices.