Share on

Global Orthopedic Implants Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Application, End-users and Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 10204
Pages: 180
Formats: report pdf report excel report power bi report ppt

Orthopedic Implants Market Size (2022 to 2027)

The global orthopedic implants market size is estimated to grow at a CAGR of 5.7% from 2022 to 2027 and is forecasted to be worth 69.4 billion by the end of 2027.

An orthopedic implant is a medical device used to replace a missing bone or joint to support a damaged bone by accident or an injury. The medicinal implant is mainly fabricated using titanium alloys or stainless steel for strength. The plastic coating is done as artificial cartilage. For treatments such as knee replacement, spinal cord, and back pain issues, orthopedic implants such as bone screws, bone plates, knee replacement implants are used in surgeries and fixation of fractured bones and segments. There are different orthopedic implants, such as knee replacement implants, hip implants, knee implants, spine implants, bone plates, and screws.

MARKET DRIVERS:

The rise in orthopedic injuries and awareness for people for fitness and physical activities and the increase in the geriatric population are primarily driving the growth of the orthopedic implants market.

The high acceptance of patients for integrating implants with image techniques is the primary driving factor of the orthopedic implants market. Additionally, the adoption of various treatments, such as shifting from conventional invasive surgical procedures to a dramatic paradigm shift toward minimally invasive procedures of various orthopedic diseases or disabilities, is expected to favor the market growth during the forecast period. Furthermore, the rise of 3D-print orthopedic implants integration with image techniques, including magnetic resonance images and computing of tomography and a wide range of applications across various applications like oncology and traumatology, and spine surgeries, are propelling the orthopedic implants market growth.

The rise in the aging population majorly accelerates the growth of the orthopedic implants market. The geriatric population accounts for a high rise in orthopedic surgeries, and increased replacement surgeries for various reasons such as emergence and accidents are major contributing factors for market growth. Lifestyle issues such as obesity, excess fat depositions, and lack of physical activity led to joint and knee pains, whereas most patients opt for replacement surgeries. Athletic injuries are a significant concern and are reported high every year. Around 1.2 million football players and various athletes face injuries, which is estimated by the reports from NASA neuroscience and spine associates in 2017. Other augmenting factors for market growth are the rise in chronic orthopedic diseases such as osteoporosis, characterized by structural de modification of bone tissues and low bone mass density. Increasing technological developments and advancement, research activities and implementation procedures, the adaption of sedentary lifestyle changes, awareness of physical health and fitness activities are also significant growth driving factors.

MARKET RESTRAINTS:

However, the orthopedic implants market has to undergo market restraints that hold back the market's growth. Issues associated with the cost system are the primary concern for patients and are drawbacks for the market. The government's lack of funding for this market is also a restraint. Inadequate reimbursement plans and governments help for this were not provided at the expected range. Product recall issues are often observed and are noted to hamper the market growth.

Impact of Covid-19 on the global orthopedic implants market:

COVID-19 spread of infection rate is high that all the countries have fallen prey to it. During this, every medical market has a negatively impacted orthopedic implant. The government has implemented stringent regulations, such as lockdown rules and travel ban issues. During the travel ban issues, international communications and meetings were not progressed. Hence this impacted the business scenario for the orthopedic implants market. Achieving hospitality goals, such as surgeries for orthopedic patients, has been more challenging. The imports and exports have been at a halt due to which the needed medical devices were unable to reach customers. Along with end-users, manufacturers and production units faced severe loss because of the ban on imports and exports in many countries. 

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Product Type, Application, and Region.

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

The global orthopedic implants market research report has been segmented by product type, application, and region.

Orthopedic Implants Market - By Product Type:

  • Joint reconstruction
  • Spinal implants
  • Trauma implants
  • Ortho biologics

Based on the product type, the largest share was contributed by joint reconstruction segment I 2019 and predicted to hike at a high compound annual growth rate from 2020 to 2025 due to factors such as a rise in prevalence of osteoporosis and osteoarthritis and initial steps taken in replacements of joints, growth of investments rates by market key players in R&D's activities of orthopedic implants, the advancement of therapies, surge of minimally invasive procedures, and rise of awareness. 

Orthopedic Implants Market - By Application: 

  • Knee
  • Spinal
  • Hip
  • Dental
  • S.E.T (sports medicine, Extremities, Trauma) 

Based on the application, the knee segment holds the largest share due to the rise in surgeries and increases in the geriatric population. Knee replacement surgeries are the most encouraging procedures these days. Reconstructive joint replacements in product type hold the most massive grip due to osteoporosis and osteoarthritis throughout the forecast period. The Orthobiologics segment is also expected to significantly increase in the forecast period due to a rise in minimally invasive procedures. Orthobiologics are the substances that surgeons use mostly to help and quickly heal injuries.

Orthopedic Implants Market - By End-user:

  • Hospitals 
  • Orthopedic clinics
  • Ambulatory services 

The hospital segment dominates and grows more extensively throughout the forecast period based on the end-user. It is due to fully developed hospitality and services, infrastructure. In addition, orthopedic clinics will also witness a significant increase due to the rise in orthopedic surgeries.

Orthopedic Implants Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

Geographically, North America was the global market leader in accounting for most of the share in 2020. With an increase in senior people and the number of orthopedic surgeries performed, many orthopedic clinics are observed in North America. North America holds the most significant shares and revenue through the orthopedic implants market worldwide. North America is estimated to grow at a robust CAGR between 2021 to 2026 due to the presence of developing economic countries such as the USA, Canada, etc., with the coupling of the rise of activities by market key players.

Followed by Europe, European countries are the second largest for witnessing market shares and growth due to increased chronic illnesses after North America. Furthermore, the European orthopedic implants market is forecasted to hike at a prominent rate between 2020 and 2025 due to rigorous activities like merging and joint ventures by establishing key market players in European countries.

The Asia-Pacific orthopedic implants market also witnesses the highest growth in the forecast period due to its healthcare and infrastructure, medical tourism, and physical health and fitness awareness. An increasing number of initiative steps taken by private and public organizations and the rise of the acceptance rate of various applications of orthopedic implants by patients strongly support the market in this region.

The Middle East and African region expect slow growth after the forecast period due to a lack of knowledge and awareness in physical health and fitness orthopedic health services.

KEY MARKET PLAYERS:

Some of the top companies leading the global orthopedic implants market profiled in this report are Johnson & Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic Plc, Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation, Arthrex, Inc, DJO Finance LLC, and Globus Medical Inc.

RECENT MARKET DEVELOPMENTS:

  • In 2019, Implant, a medical technology company (specialized in vertebral and knee-surgery implants), received a patent in Japan for its JAZZ Lock® technology, an integral part of its JAZZ™ solutions platform.
  • In 2019, a Wide range of helix lock plate systems (including small and large implants for different bones) was launched by siora surgical Pvt ltd.  
  • In 2017, General Electric made a partnership agreement with Stryker, a leading medical technology company.

Please wait. . . . Your request is being processed

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample