Orthopedic Implants Market Overview
An orthopedic implant refers to a medical device that is surgically placed in the body of an individual to restore the bone functioning by reinforcing or replacing the damaged structure. The orthopedic implants may be permanently incorporated in the body of the patient or withdrawn after availing the desired outcome. These implants are primarily manufactured with the use of titanium alloys, stainless steel, polymers, as well as ceramics. The global market of orthopedic implants is expected to experience significant growth in the coming years.
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The increase in the cases of replacement surgeries like shoulder, knee, hip, and other bones and joints are the major driving factors for the growth of the global orthopedic implants market. The rise in incidences of orthopedic accidents as well as injuries is another significant growth factor. The rapid increase in the aging population further accelerates the expansion of the global market of orthopedic implants. The evolution of the robotic implantation surgeries will further fuel the market growth in the coming years.
The increased application of orthopedic implants for treating orthopedic injuries and diseases will propel market growth. The rise in advancements of technology and the increasing acceptance of the implantable medical devices will further boost the global market of orthopedic implants. The global orthopedic implants market is expected to reach a CAGR of 4.71% during the forecast period. However, factors such as the high cost associated with orthopedic implants and strict government protocols are projected to hamper the global market growth.
Orthopedic Implants Market Segmentation
The global orthopedic implants market is segmented based on product type, procedure, biomaterial, end-user, application, and device type.
By product type, the global market is bifurcated into trauma and craniomaxillofacial implants, spinal implants, reconstructive joint implants, orthobiologics, dental implants, and others.
Based on the procedure, the global market is divided into open surgery, minimally invasive surgery (MIS), and others.
By biomaterial, the global orthopedic implants market includes metallic biomaterials, polymer biomaterials, natural biomaterials, and ceramic biomaterials.
Based on end-user, the global market is bifurcated into orthopedic clinics, home cares, hospitals, etc.
Based on the application, the global market is segmented into neck fracture, spine fracture, hip replacement, shoulder replacement, and others.
By device type, the global market is divided into internal fixation devices and external fixation devices.
Orthopedic Implants Market Regional Segmentation
Based on region, the global orthopedic implants market is segmented into America, Asia Pacific, the Middle East and Africa, and Europe.
America is the dominating segment in the global orthopedic implants market owing to the increase in the number of geriatric population in the region. North America is the major contributor to the growth of the region.
Europe occupies the second-highest position globally after America due to the rise in the demand for orthopedic implants for treating spinal cord disorders. The Asia Pacific region is projected to experience significant growth in the coming years due to the increase in awareness level among the patients.
- Medical Device Companies
- Pharmaceutical Companies
- Hospitals and Clinics
- Diagnostic Centers
- Academic Institutes
- Government Organizations
In August 2019, Beijing Chunlizhengda Medical Instruments Co., Ltd., Syntellix AG from Hannover, and Syntellix Asia Pte. Ltd signed a co-operation contract. The main aim of the co-operation contract is to tap into the med-tech market of China that is based on based implant technology. It has obtained the product registration and market approval in 56 nations already.
Orthopedic Implants Market Key Players
- Braun Melsungen AG (Germany)
- CONMED Corporation (US)
- Globus Medical (US)
- Integra LifeSciences (US)
- Johnson & Johnson (US)
- Medtronic (Ireland), NuVasive
- Orthopaedic Implant Company (US
- Smith+Nephew (UK)
- Stryker (US)
- Wright Medical Group NV (UK)
- Zimmer Biomet (US)
are some of the Key Players in the Global Orthopedic Implants Market.
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