New York, USA, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Orthopedic Implants Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Orthopedic Implants Market Information By Product Type, Biomaterial, End-User and Region - Forecast till 2030”, the market size was valued at USD 48.9 billion in 2022 and is projected to grow from USD 51.20 Billion in 2023 to USD 67.48 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.71% during the forecast period (2023 - 2030).
Market Scope
The rise in orthopedic surgeries has led to an increase in the demand for bone implants. Implants can now be tailored because of the rising need for implantable medical devices, as each patient confronts the surgeon with a different set of challenges. Additionally, personalization enables the orthopedic specialist to insert an implant using a variety of techniques. Metal alloys like titanium and stainless steel are used to create orthopedic implants, which are placed in or supported by broken bones. Orthopedic implants are prosthetic devices used to restore the function of a missing or damaged bone. These implants are surgically implanted to correct or improve a person's posture.
Competition in the market for orthopedic implants is expected to increase over the projected horizon. The competitive landscape is constantly shifting as a result of new entrants, innovations, the growth of existing markets, and mergers and acquisitions. The market will benefit from the increasing funding of biodegradable orthopedic implants. When previously untapped markets are opened to new major players, consumers benefit from expanded product options. Moreover, the projection year will see a rise in the amount of money put into the market for orthopedic implants.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/838
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 67.48 Billion |
| CAGR | 4.71% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Biomaterial, Biomaterial and End Users |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The rise in orthopedic surgeries has led to an increase in the demand for bone implants |
| Rising need for implantable medical devices |
The key players of the orthopedic implants market are
- Globus Medical Inc
- Johnson & Johnson
- Zimmer Biomet Holdings
- DJO Finance LLC
- Smith and Nephew Plc
- Arthrex, Inc.
- CONMED Corporation
Orthopedic Implants Market Dynamics
Factors such as a rising global elderly population are important drivers of the Orthopedic Implants Market. Osteoporosis and other bone ailments are on the rise, and this is a major factor propelling the implant and surgical market. In a country where metabolic disease affects one in two people, there is a clearly present need for implants that can assist people manage their condition.
The growing need for orthopedic operations is a major factor propelling the market forward. The increasing incidence of serious accidents and injuries is driving up the need for orthopedic prostheses. Also on the rise swiftly are issues associated with bone density and thinning bones in middle age. The sum of these factors is expected to boost the orthopedics market during the forecast horizon. Due to inadequate diet and nutritional deficiencies, the elderly population is growing. Millions of individuals worldwide struggle with these illnesses. The need for orthopedic implants is being fueled, in part, by the development of biodegradable alternatives.
In comparison to other implant options, biodegradable ones are more secure and risk-free. The vast majority of patients would rather have orthopedic implants that break down naturally. Most consumers are interested in purchasing implants since they are biodegradable. It is because of this market force that analysts predict substantial gains over the next few years. The introduction of biodegradable implants has also opened up numerous possibilities for business expansion. Spinal fusion procedures, which involve the use of screws, are also expected to boost demand in this market. Bone fusion and surgical procedures are two major drivers of the rising demand for orthopedic implants.
Robotic surgeries are becoming increasingly popular in many parts of the world. Market expansion is possible now more than ever because of automation in the orthopedic implants industry. Also, having robots help out makes everything very simple. Medical procedures performed by robots have the potential to outperform those performed by humans. As a result, the market for orthopedic implants is becoming more open to robots. It's essential, and it greatly boosts development.
Rising investment in R&D is another factor that bodes well for future expansion. Regional market leaders are investing millions in orthopedic implant research and development. More expansion possibilities will arise as a result of market analysis and development. Opportunity can also be found in the fact that products are always evolving and that more sophisticated implants are becoming available. The rate of market growth is expected to be relatively high due to the progress in the market.
Market Restraints
A major challenge for the market is the high price of the operation. One of the most complicated operations involves removing or replacing a bone. The success of bone regeneration depends on the placement of suitable orthopedic implants. Many patients avoid getting orthopedic implants because of the hefty cost of the treatment.
This could result in a drop in demand for the market as a whole in the years to come. Additionally, the government has a stringent regulatory framework for orthopedic implants. The market for orthopedic implants faces challenges due to the need to comply with these standards. It slows down the manufacturing and distribution of orthopedic implants in various areas.
Browse In-depth Market Research Report (110 Pages) on Orthopedic Implants: https://www.marketresearchfuture.com/reports/orthopedic-implant-market-838
COVID-19 Analysis:
A number of problems have arisen in international trade as a result of the covivirus 19 pandemic. There are now a number of challenges in the market for orthopedic implants. In the healthcare industry, primary care services are prioritized. Covid's patient care services are among the best in the medical field. During this time, fewer people are seeking the services of a dental clinic.
Orthopedic implant manufacturing is also on the decline. There are fewer surgeons available to conduct these implants. As a result of covid 19, a large number of medical professionals are volunteering their services to help the front lines. The market's expansion rate slows as a result of restrictions and lockdowns. It has the potential to influence market tendencies over the anticipated time frame. However, demand is expected to rise over the next few years.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=838
Orthopedic Implants Market Segmentation:
By orthopedic implants products
The market for reconstructive joint implants is anticipated to expand significantly throughout the assessment period. A rise in the number of operations on the hip and knee around the world is expected to fuel the market for these products over the forecast time frame. More and more spinal operations are being performed, which bodes well for the spinal fusion subsegment over the projection period.
By Biomaterial
The metallic material category is anticipated to increase at the fastest rate during the study period.
By end-user
The healthcare institution sector dominated the market. The segment is so dominant because of the generous reimbursement schemes offered by large hospitals that provide implantation services. Increased acceptance of cutting-edge implantation methods like robotic-assisted orthopedic operations, as well as efforts by manufacturers to bring out cutting-edge products via partnerships with prominent institutions, are also expected to contribute to the sector's expansion.
Orthopedic Implants Market Regional Analysis
The market share of orthopedic implants in North America is significantly larger than any other region. The market for orthopedic implants is growing fast due to the presence of industry leaders. New and improved surgical techniques are in high demand. In this part of the world, invasive surgical procedures are more commonly used. Market expansion is also helped by equitable allocation of discretionary income. In this part of the world, people pay more attention to bone health. Patients with advanced prostheses or orthopedic illnesses often choose to have implants placed in their bodies. The development of facilities also facilitates these operations. The market for orthopedic implants in North America is growing for all these reasons.
Share your Queries @ https://www.marketresearchfuture.com/enquiry/838
The market for orthopedic implants is predicted to expand rapidly throughout Asia and the Pacific. End-user demand will increase as more people learn about the benefits of orthopedic surgeries. In addition, people's propensity to get bone problems will drive demand for implants. The European Union anticipates a demand in the low to medium range.
Discover more research Reports on Healthcare Industry by Market Research Future:
Orthopedic Trauma Devices Market Size, Trends and Growth Analysis By Material Type (Bioabsorbable Materials, Non-Absorbable Materials), Product Type (Internal Fixator, External Fixator), End-User (Hospitals, Clinics, Orthopedic Centers)- Forecast Till 2030
Orthopedic Devices Market Size, Trends And Growth Analysis By Type (Trauma Fixation, Spinal Devices, Joint Replacement, Consumables & Disposables, Bone Repair), Application (Spine, Trauma and Extremities, Knee, Hip, Foot and Ankle), End-User (Ambulatory Surgery Centers, Hospitals, Medical Research Center) - Forecast till 2030
Orthobiologics Market Report Information by Product (Demineralized Bone Matrix, Bone Morphogenetic Protein), Application (Osteoarthritis & Degenerative Arthritis, Spinal Fusion), End User (Hospitals, Orthopedic Clinics)- Forecast till 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
