Market Research Future (MRFR) assessed the global orthopedic implants market 2020 across the review period till 2023. Across 2017 to 2023, the orthopedic implants market can expand at 6.8% CAGR. By 2023, the orthopedic implants market can earn decent value. The growing prevalence of orthopedic conditions as increase in patients suffering from fractures, arthritis, and osteoporosis, creating the demand for orthopedic implants can support expansion of the market. The rise in demand for osseointegration implants in veterinary hospitals clinics can support rise of the market in the assessment period.
Technological advancements resulting in sophisticated implants processed from biomaterials can favor the market. Obesity, adventure sports, and sedentary lifestyle that are likely to induce the disease is are generating orthopedic implants market opportunity, especially for revision implants. Furthermore, governments funding research and developments for the same can gain momentum for the market. At the same time, developing countries are also observed to open growth scopes for orthopedic implants market to surge. However, stringent regulations on the utility of regular orthopedic implants and cost-issues with these implants can impede the market surge. The availability of suitable reimbursement policies to cover bone care expenses can counter the orthopedic implants market slow-down.
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The segment assessment for the worldwide orthopedic implants market is done by biomaterial, product type, procedure, device type, end-user, and application.
The product type-based segments of the orthopedic implants market are trauma and craniomaxillofacial implants, spinal implants, reconstructive joint implants, dental implants, and Orthobiologics among others.
The procedure-based segments of the orthopedic implants market are minimally invasive surgery (MIS), and open surgery among others.
The biomaterial-based segments of the orthopedic implants market are ceramic biomaterials, metallic biomaterials, polymer biomaterials, and natural biomaterials. The ceramic biomaterials segment to thrive by 2023.
The device type-based segments of the orthopedic implants market are external fixation devices and internal fixation devices. The external fixation devices segment comprises orthopedic screws, orthopedic rods/wires, fixation pins, orthopedic plates, and orthopedic nails. The external fixation segment can earn high profit for the orthopedic implants market.
The application-based segments of the orthopedic implants market are spine fracture, neck fracture, shoulder replacement, and hip replacement among others.
The end-user-based segments of the orthopedic implants market are home cares, hospitals, and orthopedic clinics among others.
The Americas, the Middle East and Africa (MEA), Europe, and Asia Pacific (APAC) are regions studied to understand regional progress of the orthopedic implants market.
In the Americas, the orthopedic implants market can rise exponentially in the coming years. Factors that can support the regional expansion of the market are the existence of superior infrastructure, expansion of patient pool with bone malaise, and expansion of geriatric populace. The rise in preference for minimal invasive surgeries and aid the regional market picking up pace. Europe orthopedic implants market is anticipated to gain prominence in the years to come and thus can secure the decent market share. In APAC, the orthopedic implants market can rise at considerable CAGR due to burgeoning medical tourism industry across India and Australia.
Globus Medical, Inc. (U.S.), Depuy Synthes Inc. (Johnson & Johnson) (U.S.), Smith & Nephew plc. (UK), NuVasive, Inc. (U.S.), Stryker Corporation (U.S.), Integra LifeSciences Holdings Corporation (U.S.), Zimmer Biomet Holdings, Inc. (U.S.), Medtronic, plc (Ireland), Wright Medical Group N.V. (Netherlands), The Orthopedic Implant Company (U.S.), Aesculap Implant Systems (U.S.), Conmed Corporation (U.S.), BioTek Instruments, Inc. (U.S.), and Arthrocare Corporation (U.S.) among others are some key companies in the global orthopedic implants that are listed by MRFR for market research.
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