Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- The "Orthopedic Implants - Market Insights, Competitive Landscape, and Market Forecast - 2027" report has been added to ResearchAndMarkets.com's offering.
The global orthopedic implants market is estimated to grow at a CAGR of 5.46% during the forecast period from 2022 to 2027, owing to increasing prevalence of orthopedic diseases and rising demand for personalized orthopedic implants.
The orthopedic implants market is slated to witness prosperity owing to factors such as the increasing prevalence of orthopedic diseases such as arthritis, osteoporosis, and others, a growing burden of the geriatric population, the rising number of road accidents associated and other injuries, and the growing focus on improving the safety, affordability, and usability of orthopedic implants for people are further expected to result in the appreciable revenue growth in the orthopedic implants market during 2022-2027.
Orthopedic Implants Market Dynamics:
According to World Health Organization (WHO) 2022, musculoskeletal conditions are the leading contributor to disability, and worldwide around 1.71 billion people are suffering from musculoskeletal diseases such as osteoporosis, osteoarthritis, rheumatoid arthritis, and others.
Osteoarthritis also known as degenerative or wear-and-tear arthritis affects the joints and with time leads to the wearing off of smooth cartilage from the surface of bones. This causes patients to face inflammation, swelling, and pain in joints affecting the overall movement of a person. In severe cases, patients have to undergo orthopedic implant surgery.
According to World Health Organization 2022, worldwide around 528 million people suffered from osteoarthritis in 2019. As per the same source, worldwide 18 million people had rheumatoid arthritis in 2019.
Also, according to the above-mentioned source osteoarthritis contributed to 19 million years lived with disability (YLDs), while rheumatoid arthritis contributed to 2.4 million YLDs globally in 2019.
The rise in road traffic accidents is another major factor driving the growth of the orthopedic implants market. Light and fatal injuries owing to sudden road accidents lead to disability sometimes and increase the need for orthopedic implants, positively impacting the growth of the orthopedic implants market. According to WHO 2022, approximately 1.3 million people die each year because of road traffic accidents and around 20-50 million individuals suffer from non-fatal injuries or some sort of disability.
However, the high cost of the procedure coupled with the need to undergo revision surgery and stringent regulatory approval for orthopedic implants may act as a restraint in the market growth for orthopedic implants.
North America is expected to dominate the overall Orthopedic Implants Market:
Among all the regions, North America is expected to lead in revenue generation in the global orthopedic implants market. This can be due to factors including the prevalence of chronic bone diseases, the increasing old age population, and the presence of key companies involved in the production of orthopedic implants, high-tech medical facilities, and others.
One of the prominent factors supporting the growth of the North America orthopedic implants market is the prevalence of chronic bone diseases leading to disability, majorly in the United States. The rising prevalence of arthritis in the US is the major factor responsible for the growth of the orthopedic implants market in the region.
As per the Centers for Disease Control and Prevention (CDC) 2021, it has been estimated that there will be around 78.4 million people suffering from doctor-diagnosed arthritis by 2040, and out of that two-thirds will be the women population.
Orthopedic Implants Market Key Players
- Smith+Nephew
- Stryker
- Zimmer Biomet
- Johnson & Johnson Services, Inc.
- Biotek (Chetan Meditech Pvt. Ltd.)
- CONMED Corporation
- Medtronic
- Enovis
- B. Braun SE
- Corin Group
- Exactech, Inc.
- Meril Life Sciences Pvt. Ltd.
- Arthrex, Inc.
- Conformis
- Medacta International
- Globus Medical
- Auxein Medical
- United Orthopedic Corporation
- Limacorporate S.p.A.
- NuVasive, Inc.
Key Topics Covered:
1. Orthopedic Implants Market Report Introduction
2. Orthopedic Implants Market Executive Summary
2.1. Scope of the Study
2.2. Market at Glance
2.3. Competitive Assessment
3. Regulatory Analysis
3.1. The United States
3.2. Europe
3.3. Japan
3.4. China
4. Orthopedic Implants Market Key Factors Analysis
4.1. Orthopedic Implants Market Drivers
4.1.1. Increasing prevalence of orthopedic diseases
4.1.2. Rising number of road accidents and other traumatic injuries
4.1.3. The growing burden of the geriatric population
4.2. Orthopedic Implants Market Restraints and Challenges
4.2.1. High cost of procedures coupled with the need to undergo revision surgery
4.2.2. Stringent regulatory policies for orthopedic implants
4.3. Orthopedic Implants Market Opportunities
4.3.1. Increasing demand for personalized orthopedic implants
4.3.2. The growing concept of smart orthopedic implants
5. Orthopedic Implants Market Porter's Five Forces Analysis
5.1. Bargaining Power of Suppliers
5.2. Bargaining Power of Consumers
5.3. Threat of New Entrants
5.4. Threat of Substitutes
5.5. Competitive Rivalry
6. COVID-19 Impact Analysis on Orthopedic Implants Market
7. Orthopedic Implants Market Layout
7.1. By Product Type
7.1.1. Hip Implants
7.1.2. Knee Implants
7.1.3. Spinal Implants
7.1.4. Foot and Ankle Implants
7.1.5. Others
7.2. By End-User
7.2.1. Hospitals
7.2.2. Orthopedic Clinics
7.2.3. Others
7.3. By Geography
7.3.1. North America
7.3.1.1. United States Orthopedic Implants Market in USD million (2019-2027)
7.3.1.2. Canada Orthopedic Implants Market in USD million (2019-2027)
7.3.1.3. Mexico Orthopedic Implants Market in USD million (2019-2027)
7.3.2. Europe
7.3.2.1. France Orthopedic Implants Market in USD million (2019-2027)
7.3.2.2. Germany Orthopedic Implants Market in USD million (2019-2027)
7.3.2.3. United Kingdom Orthopedic Implants Market in USD million (2019-2027)
7.3.2.4. Italy Orthopedic Implants Market in USD million (2019-2027)
7.3.2.5. Spain Orthopedic Implants Market in USD million (2019-2027)
7.3.2.6. Rest of Europe Orthopedic Implants Market in USD million (2019-2027)
7.3.3. Asia-Pacific
7.3.3.1. China Orthopedic Implants Market in USD million (2019-2027)
7.3.3.2. Japan Orthopedic Implants Market in USD million (2019-2027)
7.3.3.3. India Orthopedic Implants Market in USD million (2019-2027)
7.3.3.4. Australia Orthopedic Implants Market in USD million (2019-2027)
7.3.3.5. South Korea Orthopedic Implants Market in USD million (2019-2027)
7.3.3.6. Rest of the Asia Pacific Orthopedic Implants Market in USD million (2019-2027)
7.3.4. Rest of the World (RoW)
7.3.4.1. Middle East Orthopedic Implants Market in USD million (2019-2027)
7.3.4.2. Africa Orthopedic Implants Market in USD million (2019-2027)
7.3.4.3. South America Orthopedic Implants Market in USD million (2019-2027)
8. Orthopedic Implants Market Company and Product Profiles
8.1. Company Overview
8.2. Company Snapshot
8.3. Financial Overview
8.4. Product Listing
8.5. Entropy
For more information about this report visit https://www.researchandmarkets.com/r/glqxog
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