Global Orthopaedic Implants Market was valued at USD 47.56 Billion in 2021 and is expected to reach USD 68.72 Billion by 2028 with a CAGR of 5.4% over the forecast period.
The rising prevalence of orthopedic injuries and musculoskeletal diseases with an increasingly aging population are some factors driving the growth of the market.
It is a medical device artificial to replace a missing joint or bone or to support a damaged bone. The medical implant is mostly made-up using stainless steel and titanium alloys for strength and the plastic coating that is done on it acts as an artificial cartilage. There are various types of orthopedic implants can be possible such as fracture fixation, joint resurfacing or replacement, soft tissue replacement, and spinal implants. Orthopedic implants are categorized into two groups including permanent joint replacements and temporary fracture fixation devices. Permanent orthopedic implants includes the, elbow,hip, knee, ankle, shoulder wrist, and finger joints, which are likely to serve in the human body throughout the life span of the patients. On the other hand, temporary orthopedic implants including wires, plates, screws, pins and intramedullary nails are needed to fix broken or fractured bones.
Global orthopedic implants market report is segmented on the basis of product type, group, end user and by regional & country level. Based upon product type, orthopedic implants market is classified into joint reconstruction, spinal implants, trauma implants, dental implants, orthobiologics and others. Based upon group, orthopedic implants market is classified into permanent joint replacements and temporary fracture fixation devices. Based upon end user, the market is classified into hospital, orthopedic clinic, ambulatory surgery center and others.
Global orthopedic implants market report covers prominent players like,
Increasing prevalence of orthopedic injuries or diseases and the rapid rise in the geriatric population. These factors drive the growth of the global orthopedic implants market. As per NCBI, the majority of artificial joint recipients were 65 years of age or older and fixation device recipients were less than 45 years of age.In the 2017 GBD study, musculoskeletal conditions were the highest contributor to global disability (accounting for 16% of all years lived with disability). However, high cost associated with procedures involving orthopedic implants for treatment and stringent government policies hamper the market growth. Moreover, technological advancement such as robot-assisted surgical tools, acceptance for implantable medical devices, and widespread application of orthopedic implants to treat musculoskeletal, orthopedic diseases, & injuries complement the market growth. Besides, increasing number of joint replacements and sport accidents across the globe would also propel growth during forecast period.
North America is dominating the orthopedic implants market with the potential rate due to rising awareness among the people about advanced treatment for healthcare. The growth of this market in this region is primarily driven by the growing technological innovation in orthopedic, rise in obesity and growing adoption of inactive lifestyles and also investment in research and development in minimal and cost effective orthopedic implants are boost markets region in forecast period.
Asia-Pacific offerings lucrative openings for the key players operating in the orthopedic implants market. Also, rising high population base, growth in awareness about orthopedic implant, increase in demand for advanced implant, development in healthcare infrastructure and boost in demand for minimally invasive procedures augmenting the growth in this region. Furthermore, developing healthcare infrastructure and increase in geriatric population are the main reasons for the growth of orthopedic implants market in the Asia-Pacific region.
|Historical data||2018- 2021|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 47.56 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 68.72 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||Johnson & Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic Plc, Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation.,Arthrex, Inc, DJO Finance LLC, Globus Medical Inc., Others|
|Segments Covered||By Product Type, By End-User, By Group|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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