Orthopedic Implants Market Outlook:
The global orthopedic implants market is estimated to grow significantly due to the increasing prevalence of orthopedic conditions, such as degenerative bone disease osteoporosis, fractures, arthritis, and a growing number of road accidents are some of the major factors driving the market for orthopedic devices. increasing prevalence of obesity, the changes in the sedentary lifestyle of consumers along with long working hours, and the rising popularity of sports result in the early onset of musculoskeletal disorders which boosts the market.
Technological advancements and product development are estimated to sustain and enhance market growth over the forecast period. Orthopedic implants are placed inside the body’s skeleton and muscle systems to rectify existing problems or provide stability.
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According to a report published by Market Research Future (MRFR), the global orthopedic implants market is anticipated to grow substantially at a CAGR of approximately 6.8% through the forecast period of 2017 to 2023.
Important factors such as a rise in the prevalence of orthopedic injuries or diseases and the rapid growth in the geriatric population globally are propelling the growth of the global orthopedic implants market. Moreover, technological innovations, such as implantable medical devices, robot-assisted surgical devices, and a wide range of applications of orthopedic implants for orthopedic diseases and musculoskeletal diseases treatment further contribute to market growth.
However, the high expenditure linked with procedures involving orthopedic implants for treatment and the stringent government policies hampers the market growth.
Orthopedic Implants Market Key Players:
Key players in the global market for orthopedic implants include,
- The Orthopedic Implant Company (U.S.)
- Depuy Synthes Inc. (Johnson & Johnson) (U.S.)
- NuVasive Inc. (U.S.)
- Globus Medical Inc. (U.S.)
- Stryker Corporation (U.S.)
- Zimmer Biomet Holdings Inc. (U.S.)
- Integra LifeSciences Holdings Corporation (U.S.)
- Medtronic plc (Ireland)
- Aesculap Implant Systems (U.S.)
- BioTek Instruments Inc. (U.S.)
- Conmed Corporation (U.S.)
- Arthrocare Corporation (U.S.)
- Wright Medical Group N.V. (Netherlands)
- Smith & Nephew plc. (UK
- and others.
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Orthopedic Implants Market Segmental Analysis:
The global orthopedic implants market is segmented based on the product type, device type, procedure, biomaterial, application, and end-user.
Based on product type, the global orthopedic implants market has been segmented into
- spinal implants
- reconstructive joint implants
- dental implants
- trauma & craniomaxillofacial implants
- and others.
Based on device type, the global orthopedic implants market has been segmented into internal fixation devices and external fixation devices.
External fixation devices are sub-segmented into
- orthopedic rods/wires
- orthopedic plates
- orthopedic screws
- fixation pins
- and orthopedic nails.
Based on the procedure, the global orthopedic implants market has been segmented as open surgery, Minimally Invasive Surgery (MIS), and others.
Based on the biomaterial, the global orthopedic implants market has been segmented into
- metallic biomaterials
- ceramic biomaterials
- polymer biomaterials
- and natural biomaterials.
Based on the application, the global orthopedic implants market has been segmented into
- neck fracture
- hip replacement
- spine fracture
- shoulder replacement
- and others.
Based on the end-user, the global orthopedic implants market has been segmented into hospitals, home cares, orthopedic clinics, and others.
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Orthopedic Implants Market Regional Analysis: Based on the region, the global orthopedic implants market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.
The Americas have been assessed to dominate the global orthopedic implants market over the forecast period, owing to the growing geriatric population, subsequently increasing the number of patients suffering from osteoarthritis and osteoporosis. North America dominates the orthopedic implants market with the highest market share. Total joint arthroplasty is estimated to contribute to the market share due to the increasing demand and rising expenditure. additionally, the steady shift towards minimally invasive procedures is expected to drive the market growth in the American region over the forecast period.
Europe is the second largest regional market for the global orthopedic implants market owing to the rise in the geriatric population, the growing demand for orthopedic implants and treatment devices for spinal disorders, and these factors are estimated to create opportunities for the sale of orthopedic implants, consequently driving the growth of the orthopedic implants market in the European region.
Asia-Pacific is an emerging market for orthopedic implants, owing to the growing awareness related to the commercial availability of orthopedic implants among consumers, thriving medical tourism, and the frequently improving healthcare infrastructure. China, India, and Japan are expected to witness the fastest growth during the forecast period.
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