Orthopedic Implants Market Global Research Analysis Report and Clinical Outlook with the USD 81.34 billion by 2030 with a CAGR of 4.5% from 2021-2030

The Orthopedic Implants Market was valued at USD 50.12 billion in 2019 and is predicted to reach USD 81.34 billion by 2030 with a CAGR of 4.5% from 2021-2030.

An orthopedic implant is a medical device manufactured using stainless steel, titanium alloy and cobalt-chromium alloy to replace a damaged joint or bone. These devices are implanted into patient’s body through internal fixation surgeries in order to reduce joint movement related pains and thereby increase his mobility. Orthopedic implants are divided into two groups such as permanent joint replacements and temporary fracture fixation devices. Permanent joint replacement implants include ankle, shoulder, hip, knee, wrist and finger joints. On the other hand, temporary fixation implants include screws, plates, pins and wires.

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Competitive Landscape

The key players of the orthopedic implants market are Johnson & Johnson, Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc., DJO Finance LLC, and Globus Medical Inc. These market players are focusing on the research and development of advanced implants and strategic collaboration to help the market prosper in near future. For instance, in December, 2020, Zimmer Biomet Holdings, Inc. announced that it had acquired A & E Medical and its sterna closure devices including sterna sutures, rigid fixation and cable system for $150 million.

Also, in October 12, 2020, Medtronic Plc had launched Adaptix Interbody System, a 3D titanium implant which fulfils the universal demand of fusion surgery. The system has nano-surface technology features for bone growth and it is easy to place.

Market Dynamics and Trends

Increasing geriatric population across the globe has resulted into the surging demand for orthopedic implants as the old aged people suffer mostly from osteoarthritis, rheumatoid arthritis, osteoporosis and other musculoskeletal disorders. Also, factors such as increasing number of road accidents, usage in back pain treatments and prevalence of orthopedic injuries such as wrist fracture, and shoulder dislocation among others are expected to fuel the market growth. Moreover, rising number of spinal surgeries, increasing cases of trauma, fractures and low bone density problems are factors lifting the orthopedic implants market growth.

However, high cost associated with the orthopedic implant’s treatment, limited reimbursement coverage and various risk associated with metal implants such as implant failure, postoperative infections, and joint stiffness among others are major factors restraining the orthopedic implants market growth. On the contrary, various technological advancements in the field of orthopedic implants and modernization of healthcare facilities will create ample growth opportunities for the orthopedic implants market players in the coming years.

Market Segmentations and Scope of the Study:

The global orthopedic implants market is segmented on the basis of product type, biomaterial, type and geography. On the basis of product type, the market is categorized into reconstructive joint replacements, spinal implants, dental implants, trauma and ortho biologics and others. The reconstructive joint replacements are divided into knee replacement implants, hip replacement implants, extremities and lower extremity reconstruction. The extremities segment is further sub divided into shoulder, elbow and wrist. The lower extremity reconstruction is further segmented into upper extremity and lower extremity. The spinal implants are further classified into spinal fusion devices, vertebral compression fracture (VCF) devices, motion preservation devices/non-fusion devices, Artificial disc replacement devices, annulus repair devices and nuclear disc prostheses. The dental implants are also sub segmented into root form dental implants and plate form dental implants. The orthobiologics segment is further classified into demineralized bone matrix (DBM), allograft, bone morphogenetic Protein (BMP), viscosupplementation products, synthetic bone substitutes and others. On the basis of biomaterial, the market is divided into metallic, ceramic, polymeric, and others. The metallic segment is further sub segmented into stainless steel, titanium alloy, cobalt alloy and others. On the basis of type, the market is categorized into knee, hip, wrist & shoulder, dental, spine, ankle, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the lion share of the orthopedic implants market during the forecast period. This is attributed to factors such as increase in the number of osteoarthritis patients, technological innovations in the field of orthopedic implants and improved healthcare infrastructure in this region.

However, Asia Pacific is expected to witness the highest growth rate during the forecast period owing to factors such as rising awareness regarding orthopedic implants and development in healthcare infrastructure. Besides, surging number of road accidents in developing countries especially in India due to lack of lane discipline, usage of mobile phones while driving and behavioral misconduct is expected to boost the market growth in this region.

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