Pune, Nov. 29, 2022 (GLOBE NEWSWIRE) -- The New Report “Orthopedic Implant Market Size, Statistics, Trend Analysis, and Forecast Report, 2022–2032” shows insights and data published by Market Decipher. The report estimates the Orthopedic Implant Market size at US$50.1 Billion in 2022 which is expected to reach US$75.4 Billion by the end of 2032. The advanced methods utilized in the domain of anesthetics, technology developments such as the adoption of implanted medical appliances, robot-assisted surgical devices, and general use of orthopedic implants to treat orthopedic, musculoskeletal illnesses, and injuries will expand demand for the orthopedic implants market during the projection period.
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“The increasing demand for orthopedic implants such as bone screws & plates, used in fixation of fractured bone & spinal fusion surgery, owing to the rising number of accidents & injuries, traumas, middle-age bone problems, and bone viscosity problems are driving the market. Market Decipher reveals that the growing geriatric population coupled with the increasing prevalence of co-morbidities like diabetes and obesity has raised the incidence of degenerative joint disease, especially among the older population, which will raise the demand for orthopedic implants around the globe. The rising investments in R&D by prominent pharmaceuticals and increasing disposable incomes are boosting the market growth in North America and Asia Pacific region.”
- Chandradeep Singh
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This report provides meticulous insights into key segments, product specifications and analysis, changing trends, and new technologies, considering key features such as gross margin, revenue & cost. It provides key statistics on the market status of the Orthopedic Implants manufacturers, highlighting influential leading players, market scope, and key developments. The report also gives a telescopic view of opportunities and constraints while projecting the growth matrix and global developments with regional insights, and provides noteworthy data for future events, mergers, and acquisitions with trending innovation and business policies and market environment in this market.
Reconstructing Joint Replacement Evoking the Product Segment
The reconstructive joint replacements segment is estimated to garner the largest share during the forecast period, owing to the rise in the prevalence of osteoporosis and osteoarthritis and investment by key players in the R&D of orthopedic implants. The Orthobiologics segment is the fastest growing segment during the forecast period owing to the rise in demand for advanced therapies, minimally invasive procedures, and patient awareness.
Higher Efficiency Gives Metallic Biomaterials an Edge
The metallic biomaterials segment is further classified into stainless steel, titanium alloy, and cobalt alloy, and occupied the largest share in 2020, as it is cost-effective and provides more bone healing efficacy than other materials. These are used to manufacture various orthopedic implants such as screws, plates, vertebral compression fracture (VCF) devices, and others and offer several advantages over synthetic biomaterials, including biocompatibility, no toxicity, and may also carry specific protein binding sites and other biochemical signals that can help in the process of tissue healing or integration.
Knee and Spine Segment will Garner Demand in Orthopedic Implant Market
The knee segment accounted for the highest share in 2020 and is anticipated to maintain this trend during the forecast period owing to increased demand for knee implants due to the increased prevalence of orthopedic diseases and the rise in road accidents, sports injuries, and others. The spine segment is estimated to register the highest CAGR during the forecast period due to an increase in the geriatric population, a rise in the incidence of spinal disorders, and an expansion in the indications for which spinal fusion surgery is performed.
The Orthopedic Implant Market Proliferates in North America
North America dominates the global orthopedic implants market attributing to the rise in the use of technologically advanced implants, higher awareness among the patients, high healthcare expenditure, availability of trained medical professionals, rise in the number of product approvals, and supportive reimbursement policies in the healthcare system as well as a large number of hospitals and clinics.
Recent Developments
• In April 2022, eCential Robotics collaborated with Amplitude Surgical to develop a robotic knee surgery solution.
• In March 2022, Evonik announced the launch of its 3D printable biomaterials VESTAKEEP IC4800 3DF. The portfolio expansion focuses on offering innovation in osteoconductive PEEK filament, which improves fusion between bone and implant.
• In March 2022, Zimmer Biomet, a publicly traded medical device company, announced the launch of Walk AI, the company's first AI-based solution. The Artificial Intelligence model identifies patients predicted to have a lower walking speed post hip or knee surgery and adds powerful predictive analytic capabilities to ZBEdge™, a suite of integrated smart, digital, and robotic technologies.
• In December 2021, Health Canada approved its first domestically developed 3D printed implant Specific 3D mandibular plate.
• In November 2021, Smith and Nephew announced a cementless Total Knee System (TKS). The implant is made up of proprietary Conceloc Advanced Porous Titanium, patented for 3D printing. The implant is porous, promoting bone ingrowth.
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Report Details:
Number of Pages: 220
Number of Tables: 75
Number of Charts and Graphs: 65
Key Companies Covered
• Johnson & Johnson (DePuy Synthes)
• Zimmer Biomet Holdings, Inc.
• Stryker Corporation
• Medtronic Plc
• NuVasive Inc.
• Smith and Nephew Plc.
• CONMED Corporation.
• Arthrex, Inc.
• DJO Finance LLC
Key Report Takeaways:
• Estimation/projections/forecast for revenue (2022 – 2032)
• Data breakdown for every Industry segment (2022 – 2032)
• Gross margin and profitability analysis of companies
• Impact Of COVID-19 On the Orthopedic Implants Market
• Business trend and expansion analysis
• Competition analysis/market share
• Product Innovation Listing
• Client list and case studies
• Market entry strategy
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