Wilmington, Delaware, United States, July 31, 2023 (GLOBE NEWSWIRE) -- The global market for orthopedic fracture repairing implants for osteoporosis was estimated to have acquired a market valuation of around US$ 3 billion in 2021. The market is likely to garner an outstanding 4.8% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 4.8 billion.
The orthopedic fracture-repairing implants for osteoporosis market size is anticipated to grow as accidents, sports, and adventure-related injuries, as well as an increase in the world's senior population, all occur more frequently. The market is expected to grow as government attempts to embrace technologically sophisticated goods increase.
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Numerous orthopedic illnesses, injuries, and trauma affect a large portion of the population in emerging nations like India, China, and Brazil, necessitating the use of cutting-edge orthopedic items including fiberglass, metal splints, and polyester tapes. Companies based in these nations are thus concentrating on the creation and introduction of technologically improved casting and splinting goods in order to draw in new clients. Adoption is anticipated to be fueled by government efforts to boost reimbursement and raise awareness of optimal treatment compliance.
Increased bone fragility and the accompanying accumulation of fracture risks are symptoms of osteoporosis. The condition is more prevalent in elderly adults because bone mineral density (BMD) declines with age. The prevalence of osteoporotic fractures also significantly rises as the population ages. The likelihood of reduced BMD, rapid bone turnover, as well as poor bone quality in older persons with trauma fractures is high. They are advised to start osteoporosis medication irrespective of their BMD because of the significant risk of further fractures and documented bone loss in this cohort.
Key Findings of the Market Report
- In 2021, the healthcare sector had a significant market share of almost 40%.
- Internal fixations accounted for more than 62% of the market for orthopedic fracture-repairing implants for osteoporosis globally in terms of product in 2021.
- In 2021, North America held the greatest market share with around 42% of the total.
- In 2021, Europe accounted for over 23% of the worldwide market.
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Global Market for Orthopedic Fracture Repairing Implants for Osteoporosis: Key Trends
- Hospitals, ambulatory surgery centers (ASCs), clinics, and other end-users make up the majority of the worldwide orthopedic fracture mending implants for osteoporosis market. In 2021, the healthcare sector had a significant market share of almost 40%. During the anticipated period, the trend is most likely to persist. The rise in orthopedic fractures and the rising popularity of hospitals for medical care and recuperation can be attributed to the segment's growth.
- Internal fixations accounted for 62% of the market for orthopedic fracture-repairing implants for osteoporosis globally in terms of product in 2021. Throughout the forecasting period, the tendency is anticipated to persist. The category is fueled by the rise in demand for internal fixations, which help patients recover quickly and enables shorter hospital stays.
Global Orthopedic Fracture Repairing Implants for Osteoporosis Regional Market Outlook
- In 2021, North America held the greatest market share with approximately 42 percent of the global market share. The region's significant market share in the world in 2021 may be attributed to the early uptake of novel surgical devices and implants. In 2021,
- Europe accounted for over 23% of the worldwide market. The increase in fragility fracture cases throughout the forecast period is anticipated to cause the market in the area to expand more quickly.
- In 2021, Asia Pacific had a greater market share than Latin America, the Middle East, and Africa combined. It is projected that the market in Latin America would expand more quickly compared to that in the Middle East and Africa.
Orthopedic Fracture Repairing Implants for Osteoporosis: Key Market Players
Stryker, Zimmer Biomet, Smith & Nephew plc, DePuy Synthes (Johnson & Johnson Services, Inc.), and Medical Plastic s.r.l. are the market's top competitors. The firms are concentrated on implementing a variety of organic and inorganic tactics to increase their market share for orthopedic fracture-repairing implants for osteoporosis globally.
Some developments by the key players in the global market for orthopedic fracture repairing implants for osteoporosis are:
- Total hip arthroplasty was added as a new indication for Smith & Nephew's CORI Surgical System, a portable robotic surgery tool used for complete knee arthroplasty, in February 2022.
- Stryker Corporation introduced the Perform Humeral Stem, the initial version of the new Tornier device, in 2021, marking the portfolio's formal introduction of the Tornier shoulder arthroplasty procedure.
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Global Orthopedic Fracture Repairing Implants for Osteoporosis Market Segmentation
Product
- External Fixations
- Ilizarov Apparatus
- Taylor Spatial Frame
- Others
- Internal Fixations
- Intramedullary (IM) Nails
- Bone Plates & Screws
- Biological Bone Graft Substitutes
- Synthetic Bone Graft Substitutes
- Others
End-User
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Clinics
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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