Portland, OR, July 24, 2019 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, “Orthopedic Implants Market by Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, and Others), Biomaterial (Metallic, Ceramic, Polymeric, and Others), and Type (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025”
According to the report published by Allied Market Research, the global orthopedic implants market was estimated at $45.90 billion in 2017 and is expected to reach at $66.63 billion by 2025, registering a CAGR of 4.7% from 2018 to 2025. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Rise in incidence of orthopedic diseases coupled with growing aging population, technological advancements in the field of orthopedic implants, the surge in acceptance of this exclusive tech, and improved healthcare facilities in developing countries propel the growth of the global orthopedic implants market. On the other hand, the high cost of treatment associated with orthopedic implants procedures and stringent approval process as they involve highly specialized devices hamper the growth to some extent. However, huge market prospects in developing countries are expected to create lucrative opportunities for frontrunners in the market.
The reconstructive joint replacements segment to dominate-
Based on product type, the reconstructive joint replacements segment contributed to more than one-third of the total market share in 2017 and is expected to dominate during 2018–2025. The orthobiologics segment, on the other hand, is projected to grow at the fastest CAGR of 5.6% till 2025.
The metallic biomaterials segment to lead the trail through 2018–2025-
Based on biomaterial, the metallic biomaterials segment garnered the major market share in 2017, accounting for nearly two-thirds of the total revenue. Simultaneously, the other biomaterials segment is predicted to cite the fastest CAGR of 6.5% during the estimated period.
North America generated the highest share in 2017-
Based on geography, North America accounted for nearly half of the total market revenue in 2017 and is anticipated to retain its top status till 2025. At the same time, the Asia-Pacific region would cite the fastest CAGR of 6.4% throughout the study period.
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Key players in the industry-
The key market players analyzed in the global orthopedic implants market report include Wright Medical Group N.V., Johnson & Johnson (DePuy Synthes), Globus Medical Inc, Stryker Corporation, Arthrex, Inc., Medtronic Plc, Zimmer Biomet Holdings, Inc., and Smith and Nephew Plc., CONMED Corporation., and DJO Finance LLC. These market players have combined several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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