Orthopedic Implants Market
Orthopedic Implants Market: Information By Product (Spinal Implants, Dental Implants), By Biomaterial (Metallic, Ceramic, Polymeric, and Natural) and Regional Outlook - Forecast Till 2031
Market Overview
Global Orthopedic Implants Market was valued at USD 48,641 million in 2017 and is expected to reach USD 88,796 million by 2026 at a CAGR of 6.7% during the forecast period 2023-2031.
In the last few years, there has been concurrency between drug therapies and implantable devices. Orthopedic implants are the devices that are operationally inserted into the body and are used to repair function by restoring or making a damaged structure strong. Treating backache uses orthopedic implants such as bone plates or bone screws which are inserted in the body by utilizing spinal fusion surgery.
Surge in the geriatric population exposed to increased risk of osteoarthritis, obesity lowered bone density, and osteoporosis are the vital factors driving the growth of the global orthopedic implants market. Furthermore, significant rise in the number of sports-related injuries and road accidental cases are likely to stimulate market growth. Apart from this, technological advancements, innovative procedures, and exponentially growing healthcare industry are projected to give a push to the overall market growth.
However, unfavorable reimbursement policies, high cost of the associated treatments, and stringent orthopedic implants authorization processes are likely to hamper the market growth.
Market Snapshot
Segmental Analysis
The global orthopedic implants market is segmented on the basis of Product, Biomaterial, and region.
Based on product, the global orthopedic implants market is segmented into Reconstructive Joint Replacements, Dental Implants, Orthobiologics, Spinal Implants, Trauma & Craniomaxillofacial, and Others. Amongst product, reconstructive joint replacements segment is expected to account for major share of the market owing to the increase in prevalence of joint injuries across the globe. Dental implants segment is expected to account optimum growth over the forecast period 2023-2031.
Based on biomaterial, the market is segmented into Metallic, Ceramic, Polymeric, and Natural. Amongst biomaterial, metallic segment is anticipated to gross largest share of the global orthopedic implants market. Ceramic segment is forecasted to account for significant share of the market owing to the rise in incidences of dental problems due to wrong eating and wrong hygiene habits.
Regional Analysis
In terms of region, the global orthopedic implants market is segregated into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
North America dominates the global orthopedic implants market. Rise in incidences of internal severe injuries, surging technological innovations and constant efforts for cost reduction of total joint arthroplasty has majorly increased the growth of the orthopedic implant market in North America. According to American Joint Replacement Registry, the 2017 annual report addresses data on 860,080 knee and hip replacement procedures from 4755 surgeons at 654 institutions.
Europe orthopedic implants market is expected to account for optimum share of the market owing to the increasing adventurous sports trend in the region. Other factors driving the market are rising prevalence of joint fractures, increase in incidences dental disorders, and surge in the demand for orthopedic implants due to rising ligament tear incidences.
Asia Pacific is the fastest growing market for orthopedic implants. Growing medical tourism increased awareness amidst people regarding commercial availability of the orthopedic implants, and amendment in healthcare infrastructure is ascribed to the growth of the Asian-Pacific market.
Top Key Players of Orthopedic Implants Market
- Biomet Holdings, Inc
- Stryker Corporation
- Medtronic plc
- BioTek Instruments, Inc
- Arthrocare Corporation
- Orthopedic Implant Company
- Smith and Nephew plc
- Integra Life Sciences
- Holdings Corporation
- NuVasive, Inc
- Aesculap Implant Systems
Report Scope
| Report Metric | Details |
|---|---|
| CAGR | 6.7% |
| Forecast Period | 2023-2031 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
| Segments Covered |
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| Geographies Covered |
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Orthopedic Implants Market Segmentation
By Product
- Reconstructive Joint Replacements
- Spinal Implants
- Dental Implants
- Trauma & Craniomaxillofacial
- Orthobiologics
- Others
By Biomaterial
- Metallic
- Ceramic
- Polymeric
- Natural
By region
- North America (U.S and Canada)
- Europe (Germany, France, Italy and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, and Rest of MEA)
- Latin America (Brazil, Argentina, and Rest of Latin America)
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