Orthopedic Implants Market

Orthopedic Implants Market was valued at USD 39.8 billion in 2022 and is forecast to touch USD 59.3 billion in 2030, and the market is expected to grow at a CAGR of 5.1% from 2023-2030.

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Key Drivers

Rising health spending across the nations is the major factor which is pushing the driving the orthopedic implants market. For instance, according to “American Medical Association”, U.S. health spending has raised by 4.6% in the year 2018 from 4.2% in 2017 and has reached to US$ 3.6 trillion, which has substantially propelled the growth of the market. In addition, rising geriatric population is another factor which is likely to fuel the growth of the market. For instance, according to “WHO”, by the end of 2050 worlds geriatric population is expected to reach 2 billion from 900 million in 2015, which is expected to increase the number of patients over the period. Furthermore, growing number of injuries has also contributed to the growth of the market. For instance, according to NASA Neuroscience and Spine Associates, P.L. in 2017, more than 1.2 million players faced orthopedic football injuries, which has surged driven the growth of the market.

Orthopedic implant market is experiencing a robust growth phase and is being adopted across the nations due to strategic initiatives by the players in the market. After continuous research and development in orthopedic implant industry, Auxein Medical has officially launched education and training platform “DAIS (Division of Auxein Institute for Surgeons) by organizing a Cadaver Workshop in Miami, USA on 25-26th July 2019, which has substantially pushed the growth of the market.

Restraint in the Orthopedic Implants Market

However, stringent policies in the manufacturing of the implants is the major factor which is likely to hamper the growth of the market.

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Product Type – Segment Analysis

Based on the product type, knee reconstruction segment is expected to grow at a higher CAGR in the market. This is due to the growing geriatric population, which has surged the demand for knee construction. Older age comes with knee pain which is known as osteoarthritis. Wearing away of knee cartilage is the problem behind the rising knee implants in elderly population.

End-User – Segment Analysis

Based on the end-user hospital segment is expected to dominate the market. This is due to the government’s strategic initiatives of different regions, which has contributed to the growth of the market. For instance, according to “Department of Health and Social Care”, in 2020, the prime minister of U.K. has confirmed US$ 4.3 billion for 40 hospitals which is one of the biggest hospitals building programme in the generation.

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Regional – Segment Analysis

Based on the region, Europe is expected to grow at a higher CAGR in the market, over the forecast period. According to “European Union”, in 2019 more than 20.3% of the European population was above 65 and population is projected to have a two a half fold increase between 2019 and 2100, from 5.8 % to 14.6 %, which is the major factor for behind the growth of the market.

Top Market Players

Various notable players operating in the market, include, B. Braun Melsungen AG, CONMED Corporation, Globus Medical, Integra Life Sciences, Johnson & Johnson, Medtronic, NuVasive, Inc., Orthopedic Implant Company, Smith+Nephew, Stryker, among others. 

Key Developments:

• • In 2019, Globus Medical acquired StelKast, which is helping the company in serving more customers as both are the leading players of the market.

Segments Covered in the Report:

The global orthopedic implants market has been segmented on the basis of product type, fixation type, end-user and regions. Based on product type, the market is segmented into hip reconstruction, knee reconstruction and shoulder implants. Based on fixation type, the market is segmented into cement, cement less and hybrid. Based on end-user market is segmented into hospitals, orthopedic clinics, ambulatory surgical centers and others. 

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Key questions answered in this research report:

• • At what pace is global orthopedic implants market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in orthopedic implants market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global orthopedic implants market?
  • Which product type generated maximum revenues in 2022 and identify the most promising product type during the forecast period?
  • What are the various fixation type areas of global orthopedic implants market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Orthopedic Implants Market by Product Type

• • Hip Reconstruction
  • Knee reconstruction
  • Shoulder Implants

Global Orthopedic Implants Market by Fixation Type

• • Cement
  • Cement less
  • Hybrid

Global Orthopedic Implants Market by End-User

• • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers
  • Others

Global Orthopedic Implants Market by Region

• • North America Orthopedic Implants Market (Option 1: As a part of the free 25% customization)

    • By Product Type
    • By Fixation Type
    • By End-User
    • US Market All-Up
    • Canada Market All-Up

  • Europe Orthopedic Implants Market (Option 2: As a part of the free 25% customization)

    • By Product Type
    • By Fixation Type
    • By End-User
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Orthopedic Implants Market (Option 3: As a part of the free 25% customization)

    • By Product Type
    • By Fixation Type
    • By End-User
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Orthopedic Implants Market (Option 4: As a part of the free 25% customization)

    • By Product Type
    • By Fixation Type
    • By End-User
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Orthopedic Implants (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Braun Melsungen AG
  • CONMED Corporation
  • Globus Medical
  • Integra LifeSciences
  • Johnson & Johnson
  • Medtronic
  • NuVasive, Inc.
  • Orthopaedic Implant Company
  • Smith+Nephew
  • Stryker