Selbyville, Delaware, March 26, 2020 (GLOBE NEWSWIRE) -- According to a new research report added by the Market Study Report LLC., orthopedic implants market size is expected to record a remuneration of USD 6894.2 million by the end of 2026. Growing product use in the treatment of deformities and supporting a damaged or missing bone or joint is anticipated to boost the industry demand. Additionally, a paradigm shift from conventional surgical procedures to cutting edge prosthetics and fixations is likely to impel the business dynamics over the mentioned time period.
Most orthopedic implants are likely to gain extensive traction, though among these, reconstructive joint replacement products are anticipated to depict tremendous growth over the upcoming years on the account of ongoing research and development activities and rising prevalence of the age related disorders. In regional demographics, Asia Pacific would likely hold prominence ascribing to robust presence of key players and developing healthcare facilities.
Orthopedic implants have found massive prominence across geriatric population owing to the rising prevalence of musculoskeletal disorders including osteoarthritis, osteoporosis, and several others. Besides, a steady rise in number of joint replacement cases and sports injuries globally will support the burgeoning need for these devices.
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An exponential upsurge in technological innovations and surplus government investments in the medical industry are anticipated to spur the product adoption worldwide. However, high treatment cost along with stringent government policies might hinder the growth of orthopedic implants market size over the next few years.
The global orthopedic medical implants industry has been fragmented into product, biomaterial, type, and regional landscapes. In terms of product segment, the market is characterized into reconstructive joint replacements, spinal implants, orthobiologics, trauma, dental implants, and various others. Of these, the reconstructive joint replacements market is further sub segmented into hip, knee, and extremities. Dental implants are divided into root form and plate form, and trauma is categorized into plates, screws, staples, and others. The type segment is further divided into wrist, knee, joint, spine, and others.
Based on product type, reconstructive joint replacements may contribute phenomenally to global orthopedic implants market share. This can be attributed to the prolific rise in prevalence of osteoporosis and osteoarthritis, along with advancements in joints replacements and hefty investments by fundamental market players in R&Ds.
Orthobiologics segment is set to bring about lucrative growth, given its increasing demand in advanced therapies, high patient cognizance towards orthobiologics, and need of minimally invasive procedures.
In terms of region, Asia Pacific is set to emerge as a lucrative growth ground for orthopedic implants market players owing to a huge population base, mounting healthcare infrastructure construction, increasing geriatric population, and potential awareness regarding orthopedic implants.
Some of the prominent players partaking in the global Orthopedic implants market are Zimmer Biomet Holdings, Inc., Johnson and Johnson, Medtronic PLC, and several others.
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Key reports insights suggest:
- Geriatric population to massively adopt orthopedic implants owing to growing musculoskeletal disorders.
- Reconstructive joint replacement market will accrue noticeable gains over the forecast period. This is ascribed to ongoing advancements in medical fraternity and hefty investments in R&D activities.
- Asia Pacific is likely to stand tall in the orthopedic implants realm due to increasing awareness on orthopedic implants use and presence of large scale treatment centers.
- Key players include Johnson and Johnson, Medtronic plc, Zimmer Biomet Holdings, Inc., and multiple others.
Market study Report LLC, has segmented the orthopedic implants industry on the basis of application type and regional markets:
Orthopedic Implants Market Application Type Analysis (Revenue, 2015-2026, USD Millions)
- Spinal
- Hip
- Knee
- Craniomaxillofacial
- Dental Orthopedic
- E.T Orthopedic (Sports Medicines, Trauma, Extremities)
Orthopedic Implants Market Regional Analysis (Revenue, 2015-2026, USD Millions)
- North America
- US
- Canada
- Europe
- UK
- France
- Germany
- Italy
- Asia Pacific
- China
- Japan
- Latin America
- Mexico
- Brazil
- Middle East and Africa
Related Report:
Global Veterinary Orthopedic Implants Market Insights, Forecast to 2025
The global Veterinary Orthopedic Implants market size will reach 140 million US$ by 2025; as per a new research report. An orthopedic implant is a medical device manufactured to replace a missing joint or bone or to support a damaged bone. The medical implant is mainly fabricated using stainless steel and titanium alloys for strength and the plastic coating that is done on it acts as an artificial cartilage. Internal fixation is an operation in orthopedics that involves the surgical implementation of implants for the purpose of repairing a bone. Among the most common types of medical implants are the pins, rods, screws and plates used to anchor fractured bones while they heal.
Innovation and promotion of veterinary healthcare projects has led to the increasing demand for veterinary orthopedic implants. Increasing veterinary healthcare projects across the global, especially in the Asia Pacific, is another major factor, driving the growth of the veterinary orthopedic implants market during the forecast period.
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