New York, United States , May 30, 2023 (GLOBE NEWSWIRE) -- The Global Orthopedic Digit Implants Market Size to grow from USD 9.8 billion in 2021 to USD 16.7 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.6% during the forecast period due to the increasing geriatric population worldwide and the rise of arthritis are the mainstays of the orthopedic digit implants market. In addition, growing awareness about less intrusive technology and the advent of 3D printing technology has revolutionized the use of orthopedic technology.
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An orthopaedic digit implant is a docile medical device that is covered in a plastic coating that mimics cartilage. It is constructed of biocompatible materials like titanium or stainless steel. The knee, ankles, toes, elbows, and fingers are just a few examples of minor joint segments where these implants are used to replace missing or damaged bones. The market for orthopaedic digit implants is primarily driven by rising incidences of orthopaedic diseases and an ageing global population. Orthopaedic digit implants available on the market include scaphoid bone implants, metacarpal joint implants, hemi phalangeal implants, and intramedullary toe implants.
The market for orthopaedic digit implants is expanding primarily as a result of the rising older population worldwide and the rising prevalence of arthritis. Additionally, the usage of orthopaedic technology has been significantly altered by growing awareness of less intrusive technology and the introduction of 3D printing technology. According to NCBI data, 43 million individuals would experience moderate to severe disability as a result of osteoarthritis worldwide in May 2022, affecting 3.3% to 3.6% of the population. This places it as the 11th most debilitating illness in the world. The report also stated that in the U.S., it is anticipated that over 80% of those over 65 have radiographic evidence of osteoarthritis, with 60% of those individuals exhibiting clinical symptoms. The market is expected to be driven by the rise in arthritis cases and the increased burden of arthritis problems among the elderly.
The primary elements influencing rest training that have an impact on the market's revenue growth are the lengthier recovery times and probable problems associated with orthopaedic digit implant surgery. A lengthier recovery period is required after joint replacement surgery for digits because these procedures can be complicated. Because of this, some patients—particularly those who are elderly or have other health issues—may find the operation less enticing. In addition to this, the possibility of complications from the treatment, such as bleeding, infection, and nerve damage, may reduce demand for orthopaedic digit implants worldwide.
Browse key industry insights spread across 213 pages with 122 market data tables and figures & charts from the report on “Global Orthopedic Digit Implants Market Size, Share, and COVID-19 Impact Analysis, By Product (Metatarsal Joint Implants, Metacarpal Joint Implants), By Material (Pyrocarbon, Titanium, Nitinol, Others), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2032" Get Detailed Report Description Here:
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Product Insights
Metatarsal joint implants segment is anticipated to dominate the market over the forecast period
On the basis of product, the global orthopedic digit implants market is segmented into metatarsal joint implants, metacarpal joint implants, toe intramedullary digit implants, scaphoid bone digit implants, and hemi phalangeal digit implants. Among these, metatarsal joint implants segment is estimated to dominate the market with the largest market share over the forecast period. In essence, metatarsal joint implants are a type of orthopaedic implant that are used to treat diseases that affect the foot's metatarsal joints, which are situated between the bones in the toes and midfoot. Osteoarthritis, trauma, and rheumatoid arthritis are three disorders that might damage these joints.
On the other hand, the market for intramedullary digit implants is expected to increase at the fastest rate. The current invention provides systems, methods, and implants for implantation inside bone structures known as intramedullary implants. A body with at least two beams positioned in respect to the body's longitudinal axis makes up the implant. Each beam is linked to the body at one end and has an end. The end of the second pair of beams is detachably attached to the first pair.
Material Insights
Titanium segment holds the largest market share over the forecast period
On the basis of material, the global orthopedic digit implants market is segmented into pyrocarbon, nitinol, titanium, and others. Among these, titanium segment is dominating the market with the largest market share over the forecast period. An orthopaedic implant known as a titanium implant is made of a titanium alloy that also contains other metals like vanadium and aluminium. The primary factors driving the need for titanium implants are its strength, biocompatibility, and ability to withstand heavy loads. They also have a longer lifespan and can withstand wear and tear. In addition to this, titanium implants are extensively utilised during orthopaedic procedures and are highly popular in the market. They have a successful track record.
On the other hand, the pyrocarbon sector is predicted to experience the quickest market growth throughout the forecast period. The rise is attributed to because of their biocompatibility and long-term endurance. Additionally, because pyrocarbon has a low wear rate and a mechanical strength that is comparable to bone, it is employed in the manufacture of replacement materials for hard tissues.
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Regional Insights
North America is dominating the market with the largest market share over the forecast period
North America is dominating the market with the largest market share over the forecast period. The increasing prevalence of osteoarthritis, the ageing population, and the increased desire for less invasive surgical procedures all contribute to growth. Additionally, the introduction of fresh products and the presence of more competitors encourage market expansion in the region.
On the other hand, Asia Pacific is predicted to experience the fastest market growth throughout the forecast period. The rise in hand injuries, the ageing population, growing awareness of the advantages and accessibility of these implants are all factors that have contributed to the growth. Additionally, rising disposable income and health care costs in China and India are also predicted to fuel market expansion in the Asia Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Orthopedic Digit Implants Market include Johnson and Johnson Services, Inc. (DePuy Synthes), Smith and Nephew, Stryker Corporation, Integra Lifesciences, Acumed LLC., Wright Medical Group N.V., Teijin Nakashima Medical Co., Ltd., Merete Medical GmbH, Zimmer Biomet Holdings, Inc., VILEX IN TENNESSEE, INC.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Orthopedic Digit Implants Market based on the below-mentioned segments:
Orthopedic Digit Implants Market, Product Analysis
- Optical Coherence Tomography
- Ophthalmic Ultrasound
Orthopedic Digit Implants Market, Application Analysis
- Cataract
- Vitreo Retinal Disorders
- Glaucoma
- Refractor Disorders
Orthopedic Digit Implants Market, End User Analysis
- Hospitals and Eye Clinics
- Academic and Research Laboratory
- Others
Orthopedic Digit Implants Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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