The orthopedic implants market size is set to touch USD 64.0 billion by 2026, exhibiting a modest CAGR of 4.1% during the forecast period. Unprecedented rise in geriatric population across the globe to be the key growth driver of this market. According to the United States Census Bureau (USCB), the proportion of aged people to the total world population is steadily climbing. For example, in 2012, world population had reached 7 billion and the people aged 65 and above were 8% of this number or 562 million. In 2015, the number rose by 55 million, with the percentage increasing to 8.5% of the total population in a span of 3 years.
The USCB predicts that between 2025 and 2050, this geriatric population will double to reach 1.6 billion, whilst the total population will grow only by 34%. This, the USCB states, is attributable to the reduction in fertility rates around the world and lengthening lifespans due to advancements in medical technologies. This is expected to substantially broaden the base of the market, especially the joint reconstruction segment, as per the orthopedic implants market trends.
Highlights of the Report:
- In-depth analysis of various insights, namely, orthopedic implants market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and orthopedic implants market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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North America to Hold a Commanding Position; Europe to Grow at an Impressive Rate
Among regions, North America is expected to dominate the global orthopedic implants market share owing to the increasing incidence of osteoarthritis in the region. Europe is projected to grow at a considerable rate on account of rapid spread of chronic diseases such as diabetes and obesity in the continent. In Asia-Pacific, rise in healthcare expenditure and increasing disposable incomes will propel the market in the region, as per the orthopedic implants market analysis by Fortune Business Insights. However, the market growth in Africa, Latin America, and the Middle East is anticipated to be slow due to low levels of development in these regions.
Key Companies and Manufacturers Covered:
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight.
- BioTek Instruments, Inc.
- Zimmer Biomet
- Integra LifeSciences Corporation
- DePuy Synthes Companies (Johnson & Johnson Services, Inc.)
- ArthroCare Corporation
- CONMED Corporation
- Smith & Nephew
New Product Launches to Intensify Market Competition
Key players are looking to gain an edge in the competition through development and launch of new products. For instance, in September 2019, Zimmer Biomet, after receiving FDA approval, commercially released its customizable revision knee replacement device called Persona Revision Knee System for patients in the US. Some other players are engaging in sprucing up their research capacities through commissioning of trials and studies. For example, in September 2019, Medtronic’s clinical trial for testing its spine correction surgical procedure, Infuse Bone Graft in Transforaminal Lumbar Interbody Fusion (TLIF), was green lit by the FDA.
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|Unit||Value (USD Million)|
- Orthopedic Clinics
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.
Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Reasons to Purchase this Report:
- Estimates orthopedic implants market trends with SWOT analysis.
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players.
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion.
- Market dynamics and opportunities for growth for players in the near future.
- Competitive landscape describing the market revenue shares of key players.
- Market segmentation analysis that deals with quantitative and qualitative research, discussing the influence of policy-based and economical aspects.
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