Orthopedic implants are the medical devices that are specially designed to replace the missing bone or damaged joint in order to support the injured bone. These medical implants are majorly manufactured with the help of titanium alloys and stainless steel for optimal strength and also the plastic coating done on it plays a major role as the artificial cartilage. These implants play crucial role in the fixation process. The selection of material of the implant is important since it highly reflects the biocompatibility, rigidity, corrosion, and the tissue receptivity. While all this, it surface morphology impacts its stability in the skeleton and the nearby cement mantle. An ideal orthopedic implant holds the following features; chemically inert, completely biocompatible, optimal strength, resistant to high fatigue, low elastic modulus, complete corrosion-proof, better wear resistance, and cost efficient.
Orthopedic implants market is anticipated to grow at a CAGR of 6.2% from 2019 to 2030.
The continual growth of the orthopedic implants market can be attributed to several factors which have led to wide scale adoption of these products which are extensively used to improve body posture, treat deformities and other forms of musculoskeletal conditions among patients. Moreover, the growing geriatric population across the globe and rising medical tourism are anticipated to further contribute to the substantial growth of the global orthopedic implants market between 2019 and 2030. To obtain better insights regarding the market scenario prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. The University of Sheffield, has entered into a partnership with JRI Orthopaedics Ltd, a surgical instruments and orthopedic implants company, to improve the overall scope of technology and research in the field of orthopedics.
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Major Key Players of the Orthopedic Implants Market are:
Zimmer Biomet, Stryker, Smith & Nephew, DePuy Synthes , NuVasive, Medtronic, DJO Global, Arthrex, Inc., Globus Medical and B. Braun Melsungen AG among others
Over the years, the emergence of medical tourism as a popular and profitable industry has played a vital role in contributing to the growth of the global orthopedic implants industry. Several countries, namely India, Turkey, Thailand, Brazil and other developing countries have emerged as essential contributors to global medical tourism industry. Multiple factors have been responsible for attracting patients to tour worldwide for medical treatments. Cost effectiveness, availability of personalized and tailor-made services, better facilities, convenience, and advanced technologies have been vital in contributing to the medical travel facilities. In 2017, it was estimated that the total number of medical tourists across all countries was a staggering 14-16 million. It is further expected that the number of medical tourists travelling abroad seeking treatments will additionally increase at a rate of 25% every year. Orthopedic implant procedures have been one of the most lucrative segments which has witnessed lucrative increment in terms of the number of medical tourist over the past few years. Attractive pricing coupled with availability of advanced technology has been a major driver for the global orthopedic implants market, which is further anticipated to grow in the coming years.
The Orthopedic Implants Market is segmented on the basis of Product, End Users and region.
Major Types of Orthopedic Implants Market covered are:
- Spinal Implants (Spinal Fusion Devices and Spinal Non-fusion Devices)
- Joint Reconstruction (Knee Replacement, Hip Replacement, Shoulder Replacement)
- Trauma Implants (Pins/Wires, Metal Plates & Screws, Nails & Rods)
- Dental Implants
Major End Users of Orthopedic Implants Market covered are:
- Orthopedic Clinics
- Ambulatory Surgical Centers
Arthritis is considered to be a major health crisis in the US, it is estimated that a staggering 300,000 children and 54 million adults, suffer from arthritis or other forms of rheumatic diseases. According to Arthritis Foundation (US), it is anticipated that 78.4 million US adults would suffer from arthritis, by 2040. Growing incidences of these ailments is anticipated to significantly contribute to the global orthopedic implants market during the forecast period.
High costs associated with orthopedic procedures and orthopedic implants is considered to be a major factors affecting the growth of the orthopedic implants market. Unavailability of alternate affordable procedures and high cost of raw materials used for manufacturing these implants, is anticipated to be one of the major hindrances in the growth of this market. Evolution and improvement in implant technology is also accompanied by greater costs, which in many cases limits its application among the underprivileged population of the world.
– To study and analyze the global Orthopedic Implants consumption (value & volume) by key regions/countries, product type and application, history data.
– To understand the structure of the Orthopedic Implants market by identifying its various sub-segments.
– Focuses on the key global Orthopedic Implants manufacturers, to define, describe and analyze the sales volume, value, market share, market competitive landscape, SWOT analysis, and development plans in the next few years.
– To analyze the Orthopedic Implants with respect to individual growth trends, future prospects, and their contribution to the total market.
– To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
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Table of Contents
- Market Definition
- Market Ecosystem
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- ORTHOPEDIC IMPLANTS MARKET DYNAMICS ASSESMENT
- UNIQUE SELLING PROPOSITIONS (USPs)
- Regulatory Landscape Assessment
- Epidemiological Assessment: Arthritis
- Technological Advancements
- GLOBAL ORTHOPEDIC IMPLANTS MARKET – ANALYSIS & FORECAST, BY PRODUCT
- Spinal Implants
- Spinal Fusion Devices
- Spinal Non-fusion Devices
- Joint Reconstruction
- Knee Replacement
- Hip Replacement
- Shoulder Replacement
- Other Joint Replacements
- Trauma Implants
- Metal Plates & Screws
- Nails & Rods
- Other Trauma Implants
- Dental Implants
- Other Products
- Spinal Implants
- GLOBAL ORTHOPEDIC IMPLANTS MARKET – ANALYSIS & FORECAST, BY END USER
- Orthopedic Clinics
- Ambulatory Surgical Centers
- Other End Users
- GLOBAL ORTHOPEDIC IMPLANTS MARKET – ANALYSIS & FORECAST, BY REGION
- North America Orthopedic Implants Market
- Europe Orthopedic Implants Market
- Asia Pacific Orthopedic Implants Market
- Rest of the World (ROW) Orthopedic Implants Market
- COMPETETIVE LANDSCAPE
- Market Share Analysis (2018)
- Key Strategies Assessment
- New Product Launches
- Merger & Acquisitions
- Agreements, Collaborations, & Partnerships
- Other Strategies
- COMPANY PROFILES (Business Overview, Products Offered, Financial Performance, R&D Intensity, Marketing & Sales Intensity, Recent Developments, Analyst Corner)*
- Zimmer Biomet
- Stryker Corp.
- Smith & Nephew
- DePuy Synthes
- NuVasive, Inc.
- DJO Global, Inc.
- Arthrex, Inc.
- Globus Medical Inc.
- B. Braun Melsungen AG
*Financial details might not be captured in case of privately-held companies or for companies that do not report this information in public domain
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