Press release
Global Orthopaedic Implants Market Size To Grow At A CAGR Of 5% In The Forecast Period Of 2022-2027
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
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Orthopaedic Implants Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2017-2027)
Forecast CAGR (2022-2027): 5%
The continuously growing geriatric population is aiding the orthopaedic implant market growth across the globe. They are at a high risk of acquiring degenerative disc disease, and osteoarthritis, and low bone density has been observed among people aged above 65 years, all conditions that can require orthopaedic implants. With the rising occurrences of road accidents, the number of trauma cases is propelling, this is further bolstering the demand for the orthopaedic implants market around the world. The surging number of sports-related injuries is also expected to surge the market growth across the globe.
The drastic shift from conventional invasive procedures to minimally invasive surgeries for the treatment of orthopaedic diseases or disabilities is positively influencing market growth. Orthopaedic implants such as bone screws and bone plates are utilised in spinal fusion surgery as well as fixation of fractured bone segments. Implant components are also utilised for joint and hip replacement for the treatment of back pain. These applications are likely to enhance the market demand over the coming years.
However, the material used in orthopaedic implants needs to be biocompatible to prevent body rejection. Consequences linked with orthopaedic implants such as implants coming loose or breaking in the bone can trigger painful inflammation and infection to the surrounding tissue. This is likely to hamper the growth of the orthopaedic implants market.
Orthopaedic Implants Industry Definition and Major Segments
An orthopaedic implant is a device surgically placed into an individual's body to reinforce or replacing a damaged structure. They are utilised for hard tissue applications such as joints and bones. Fixation plates can also be implanted to support healing of fractured bones.
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Based on product, the market can be divided into:
Plates and Screws
Nails and Rods
Pins and Wires
Others
By application, the market is segregated into:
Reconstructive Joint Replacements
Hip Replacement
Knee Replacement
Shoulder Replacement
Spine Implants
Craniomaxillofacial Implants
Dental Implants
Trauma Implants
Orthobiologics
Others
On the basis of end-uses, the market categorised into:
Hospitals
Orthopaedic Clinics
Ambulatory Surgical Centres
Others
Based on region, the market is divided into:
North America
Latin America
Asia Pacific
Europe
Middle East and Africa
Orthopaedic Implants Market Trends
The global orthopaedic implants market is anticipated to register significant growth during the forecast period owing to the rapid rate of co-morbidities connected to diabetes and obesity. This increases the risk of degenerative joint diseases, particularly in the older population, propelling the market growth of orthopaedic implants.
Young people participating more into fitness and sports activities is increasing the number of corresponding injuries. This is further expected to bolster the market demand for orthopaedic implants all over the world.
Based on region, North America is augmenting the orthopaedic implants market share on account of the increasing ageing population which is consequently boosting the number of patients experiencing osteoporosis and osteoarthritis. The ongoing transition toward minimally invasive procedures is expected to positively impact the market growth of orthopaedic implants across the North American region.
Meanwhile, the Asia Pacific is anticipated to witness considerable growth in the orthopaedic implants market. This is on account of the rising awareness among patients regarding the commercial availability of orthopaedic implants, especially in countries like Brazil, India, and China. Improving healthcare infrastructure along with booming medical tourism are likely to further enhance the market growth across the Asia Pacific in the coming years.
Key Market Players
The major players in the global orthopaedic implants market report are Arthrex, Inc., Johnson & Johnson Services, Inc., CONMED Corporation, Zimmer Biomet Holdings, Inc., Medtronic plc, Stryker Corporation, and Smith & Nephew plc, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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