According to analysts at Zion Market Research, the valuation of the global orthopedic implants market in 2019 was around USD 53,251million and is projected to attain about $69,284million by 2026, growing at about 4.6% CAGR during the forecast period. The prominent players of the global orthopedic implants market profiled comprise Zimmer Biomet Holdings, Inc., Johnson & Johnson (DePuy Synthes), Medtronic Plc, Stryker Corporation, Wright Medical Group N.V., Smith and Nephew Plc, Arthrex, Inc., CONMED Corporation, Globus Medical Inc., and DJO Finance LLC.
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Increase In Incidence Of Orthopedic Diseases Or Injuries Likely To Spur Market Growth
The global orthopedic implants market is anticipated to develop at a rapid rate owing to the risk of oerstoarthitis and osteoporosis becomes more ordinary as one approaches old age. Thereby, the increase in the incidence of orthopedic diseases or injuries and rapid rise in the aging population across the world is expected to propel the market growth. Further, technological improvements in the orthopedic implants industry, enhancement of healthcare infrastructure in the budding nations, and approval for implantable medical devices are also anticipated to boost the market growth. Moreover, rising cases of sports accidents and joint replacements worldwide would also help the market grow during the forecast period. Nevertheless, the high price related to processes involving orthopedic implants treatment and strict government rules might hinder the market growth.
Reconstructive Joint Replacements To Grab The Major Market Share
Reconstructive joint replacements segment, based on product type, is anticipated to occupy the highest share in the market. This expansion can be credited to the rising incidence of osteoarthritis and osteoporosis, developments in the joint replacements, along with an increase in spending by major players in research & development of orthopedic implants. Further, the orthobiologics segment is projected to witness swift growth during the years to come on account of the increase in demand for minimally invasive procedures, cutting-edge therapies, and rise in patient alertness about the use of orthobiologics.
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North America To Continue Its Dominance Over The Global Market
North America is anticipated to continue its dominance over the global orthopedic implants market during the forecast period. The market expansion is propelled by the rising healthcare expenditure by the local government along with the deep-rooted healthcare infrastructure in Canada and the US. Also, the increasing elderly population within North America will propel the growth of the global orthopedic implants market during the forecast period. Moreover, Asia Pacific is also projected to witness significant market growth in the coming period as a result of rising awareness with the use of several orthopedic implants, developing healthcare infrastructure, and nascent market needs.
The global orthopedic implants market is segmented as follows:
By Product Type
- Reconstructive Joint Replacements
- Knee Replacement Implants
- Hip Replacement Implants
- Extremities
- Upper Extremity
- Shoulder
- Elbow
- Wrist
- Lower Extremity
- Upper
- Lower
- Upper Extremity
- Spinal Implants
- Spinal Fusion Devices
- Thoracolumbar Devices
- Cervical Fixation Devices
- Interbody Fusion Devices
- Vertebral Compression Fracture (VCF) Devices
- Balloon Kyphoplasty Devices
- Vertebroplasty Devices
- Motion Preservation Devices/Non-Fusion Devices
- Dynamic Stabilization Devices
- Artificial Disc Replacement Devices
- Annulus Repair Devices
- Nuclear Disc Prostheses
- Invasive Spinal Bone Stimulators
- Spinal Fusion Devices
- Dental Implants
- Root Form Dental Implants
- Plate Form Dental Implants
- Trauma
- Orthobiologics
- Demineralized Bone Matrix (DBM)
- Allograft
- Bone Morphogenetic Protein (BMP)
- Viscosupplementation Products
- Synthetic Bone Substitutes
- Others
- Others
By Biomaterial
- Metallic Biomaterials
- Stainless steel
- Titanium Alloy
- Cobalt Alloy
- Others
- Polymeric Biomaterials
- Ceramic Biomaterials
- Others
By Type
- Knee
- Hip
- Wrist & Shoulder
- Dental
- Spine
- Ankle
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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