Global Orthopedic Implants Market, By Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Orthobiologics, Trauma, and Craniomaxillofacial Implants, Others), Biomaterial (Ceramics Biomaterials, Metallic Biomaterials, Polymeric Biomaterials, Natural Biomaterials Constipation), Procedure (Open Surgery, Minimally Invasive Surgery (MIS), Others), Device Type (Internal Fixation Devices, External Fixation Devices), Application (Neck Fracture, Spine Fracture, Hip Replacement, Shoulder Replacement, Others), End User (Hospitals, Orthopedic Clinics, Home Cares, Others) – Industry Trends and Forecast to 2030.
Orthopedic Implants Market Analysis and Size
The market for orthopedic implants is expected to increase rapidly during the forecast period. The solutions offered by major market players in the worldwide orthopedic implants market offer support to injured tissues and bones, enabling the patient's body to function more smoothly. These orthopedic implant solutions are in much higher demand because they have various advantages, including reduced discomfort, low cost, and quick recovery.
Data Bridge Market Research analyses that the orthopedic implants market, which was USD 47,666 million in 2022, would rise to USD 74,833.27 million by 2030 and is expected to undergo a CAGR of 5.80% during the forecast period from 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Orthopedic Implants Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Orthobiologics, Trauma, and Craniomaxillofacial Implants, Others), Biomaterial (Ceramics Biomaterials, Metallic Biomaterials, Polymeric Biomaterials, Natural Biomaterials Constipation), Procedure (Open Surgery, Minimally Invasive Surgery (MIS), Others), Device Type (Internal Fixation Devices, External Fixation Devices), Application (Neck Fracture, Spine Fracture, Hip Replacement, Shoulder Replacement, Others), End User (Hospitals, Orthopedic Clinics, Home Cares, Others)
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Countries Covered
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U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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CONMED Corporation (U.S.), Wright Medical Group N.V. (U.S.), Stryker (U.S.), Medtronic (Ireland), Smith+Nephew (U.K.), Integra LifeSciences (U.S.), B. Braun Melsungen AG (Germany), Arthrex (U.S.), Baxter (U.S.), Medical Device Business Services, Inc. (U.S.), Globus Medical (U.S.), NuVasive, Inc. (U.S.), Flexicare Medical Limited (U.K.), BioTek Instruments, Inc. (U.S.), Narang Medical Limited (India), Auxein Medical (India), Uteshiya Medicare (India)
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Market Opportunities
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Market Definition
An orthopedic implant is a medical device designed to replace or support a missing joint or bone. The medical implant is typically made of stainless steel and titanium alloys. These are most commonly used to treat spinal injuries and lumbar spinal stenosis in minimally invasive operations. The surgeries would require very less operative procedures, mainly used to treat spinal injuries and other related diseases such as lumbar spinal stenosis.
Global Orthopedic Implants Market Dynamics
Drivers
- Increasing Demand for Orthopedic Implants in Geriatric Population
As per World Health Organization, in 2021, the aging population base will likely increase from 1 billion to 1.4 billion worldwide by 2030. In addition, 1 in 6 people is expected to reach 60 years during the forecast period. Additionally, patients in their middle years increasingly prefer orthopedic implants because of lifestyle-related concerns such as inadequate exercise and early burnout. Furthermore, as age continues, the risk of getting bone disorders, fractures, and bone porosity also increases. Thus, this factor boosts market growth.
- Increasing Demand for Minimally Invasive Surgeries
The demand for minimally invasive procedures is increasing as these procedures result in lesser traumas and faster recovery than invasive ones. As the recovery time is less, patients' hospital stay is also shorter, leading to lower costs associated with surgery and hospital stay. The general population thus prefers this type of surgery. Thus, this factor boosts market growth.
Opportunities
- Innovative Strategic Developments and Launches
The major market players are adopting new product launches, collaborations, and partnerships to maintain a competitive edge. For instance, Mathys AG Bettlach, a Swiss company that develops innovative products for sports medicine, synthetic bone graft solutions, and artificial joint replacement, was acquired by DJO in 2021. This acquisition improves the company's capacity to manufacture and deliver next-generation orthopedic solutions. Thus, this factor boosts market growth.
Restraints/Challenges
- High Cost of Orthopedic implants
The high costs of implants will impede the orthopedic implants market growth rate. This process involves quite a task as the placement of suitable orthopedic implants determines the possibility of bone regeneration, and hence the cost is also high. Numerous customers hesitate to pick orthopedic implant operations because of their increasing cost. Therefore, these factors hamper the market growth.
This orthopedic implants market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the orthopedic implants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In 2021, DePuy Synthes, a branch of Johnson & Johnson, completed the acquisition of OrthoSpin through its Synthes GmbH affiliate. OrthoSpin is an Israeli company that manufactures a robotic-assisted external fixation method for several orthopedic treatments.
Global Orthopedic Implants Market Scope
The orthopedic implants market is segmented on the basis of product type, biomaterial, procedure, device type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Reconstructive Joint Replacements
- Knee Replacement Implants
- Hip Replacement Implants
- Extremities
- Upper Extremity Reconstruction
- Lower Extremity Reconstruction
- Spinal Implants
- Dental Implants
- Orthobiologics
- Trauma and Craniomaxillofacial Implants
- Others
Biomaterial
- Ceramics Biomaterials
- Metallic Biomaterials
- Polymeric Biomaterials
- Natural Biomaterials Constipation
Procedure
- Open Surgery
- Minimally Invasive Surgery (MIS)
- Others
Device Type
- Internal Fixation Devices
- External Fixation Devices
- Orthopedic Rods/Wire
- Orthopedic Screws
- Orthopedic Plates
- Fixation Pins
- Orthopedic Nails Sodium Phosphate Enemas
Application
- Neck Fracture
- Spine Fracture
- Hip Replacement
- Shoulder Replacement
- Others
End User
- Hospitals
- Orthopedic Clinics
- Home Cares
- Others
Orthopedic Implants Market Regional Analysis/Insights
The orthopedic implants market is analyzed and market size insights and trends are provided by product type, biomaterial, procedure, device type, application and end user as referenced above.
The countries covered in the orthopedic implants market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the orthopedic implants market because of the high presence of a well-defined regulatory framework and several recommendations from government and healthcare agencies in this region. Furthermore, increasing the adoption of minimally invasive procedures will enhance this region's market's growth rate.
Asia-Pacific is expected to witness significant growth due to the increasing level of disposable income and well-developed healthcare infrastructure in this region. Furthermore, increasing awareness about advanced orthopedic procedures and developing medical tourism will boost the market's growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The orthopedic implants market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for orthopedic implants market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the orthopedic implants market. The data is available for historic period 2011-2021.
Competitive Landscape and Orthopedic Implants Market Share Analysis
The orthopedic implants market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to orthopedic implants market.
Some of the major players operating in the orthopedic implants market are:
- CONMED Corporation (U.S.)
- Wright Medical Group N.V. (U.S.)
- Stryker (U.S.)
- Medtronic (Ireland)
- Smith+Nephew (U.K.)
- Integra LifeSciences (U.S.)
- B. Braun Melsungen AG (Germany)
- Arthrex (U.S.), Baxter (U.S.)
- Medical Device Business Services, Inc. (U.S.)
- Globus Medical (U.S.)
- NuVasive, Inc. (U.S.)
- Flexicare Medical Limited (U.K.)
- BioTek Instruments, Inc. (U.S.)
- Narang Medical Limited (India)
- Auxein Medical (India)
- Uteshiya Medicare (India)
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