Global Orthopedic Implants Market Synopsis
The bones within our body and the ones that protrude outside, such as teeth, can often suffer from heavy damage and require a structural support to carry on its functions. Orthopedic implants serve as these structures that either provide the necessary strength to these damaged bones or correct their flawed positioning or structure. The term orthopedic is most commonly used for dental procedures as even the simplest of dental implants fall under this category. It also includes much higher-grade medical products such as implants for the spinal cord.
Global orthopedic implant market is believed to grow at desirable rate of 6.8% as per the in-depth market analysis undertaken by Market Research Future (MRFR) During the forecast period of 2018 to 2023.
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The surging demand for orthopedic implants can be attributed to various factors, however, the rising prevalence of accidents being the biggest driver. The number of fractures per year are rising at a sharp rate and along with it the necessity for orthopedic implants.
Few of the noteworthy orthopedic implants market Top- Key players are,
- NuVasive Inc. (US)
- Zimmer Biomet Holdings Inc. (US)
- Smith & Nephew plc. (UK)
- Wright Medical Group N.V. (Netherlands)
- Depuy Synthes Inc. (Johnson & Johnson) (US)
- Stryker Corporation (US)
- BioTek Instruments Inc. (US)
- Aesculap Implant Systems (US)
- Medtronic plc (Ireland)
- Globus Medical Inc. (US)
- Integra LifeSciences Holdings Corporation (US)
- Conmed Corporation (US)
- Arthrocare Corporation (US)
- The Orthopedic Implant Company (US)
- and others.
Technological innovations are also leading to foundations of new scientific concepts that benefit the medical industry such as robot assisted tools. More bone-related predicaments are now being offered solutions to with the help of state of the art orthopedic implants. Arthritis and degenerative bone diseases are some of the predicaments that can be battled against with the usage of these implants, thereby accelerating the demand and growth of the market over the forecast period. However, the high pricing of orthopedic implants treatment and strict government regulations can drastically hamper the growth of the market.
In 2019, California-based medifacturing company PrinterPrezz announced the news of signing a customer agreement with SI-BONE. The agreement is based on a deal of developing services for advanced 3D-printed orthopedic devices and implants. SI-BONE hopes to capitalize on the expertise of PrinterPrezz to come up with the next generation of medical devices.
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Orthopedic Implants Market Segmentation
The orthopedic implants market segmentation is done as per procedure, product type, application, device type, biomaterial, and end-user.
By product type, the market includes dental implants, spinal implants, reconstructive joint implants, trauma and craniomaxillofacial implants, orthobiologics, and others.
By biomaterial, the market includes ceramic biomaterials, polymer biomaterials, metallic biomaterials, and natural biomaterials.
By procedure, the market is divided into Minimally Invasive Surgery (MIS), open surgery, and others.
By application, the market includes application in neck fracture, hip replacement, shoulder replacement, spine fracture, and others.
By device type, the market segments into external fixation devices and internal fixation devices. The external fixation devices are classified into orthopedic screws, fixation pins, orthopedic plates, orthopedic rods/wires, and orthopedic nails.
By end-user, the market includes orthopedic clinics, hospitals, home cares, and others.
Orthopedic Implants Market Report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.
Orthopedic Implants Market Regional Analysis
The regional segmentation of the Global Orthopedic Implants Market includes regions like Asia Pacific, Europe, America, and the Middle East & Africa.
The Americas are the market dominators of orthopedic implants due to presence of a growing geriatric population base. North America holds the majority of the market portion with a total of 53.4% to its name as per the research in 2015. The market is slated to experience further growth due to the gradual transition towards minimally invasive procedures.
Europe holds the second largest share of the orthopedic implants market. This can be attributed to the increasing geriatric population and an ameliorating demand for orthopedic implants and related-devices for treating spinal disorders. Asia Pacific is projected as the emerging market in terms of growth, demand, and opportunity for orthopedic implants. Burgeoning patient awareness concerning the availability of orthopedic implants, improving healthcare infrastructure, and a booming medical tourism are all expected to drive the growth of the market in this region.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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