Orthopedic Implant Market Size, Share, Growth Analysis, By Product(Joint Reconstruction, Spinal Implants Trauma Implants and Others), By End-user(Hospitals & Ambulatory Surgery Centers and Orthopedic Clinics & Others), By Region - Industry Forecast 2024-2031

Orthopedic Implant Market size was valued at USD 31.51 billion in 2019 and is poised to grow from USD 33.5 billion in 2023 to USD 54.2 billion by 2031, growing at a CAGR of 6.3% in the forecast period (2024-2031).

Orthopedic implants are devices made of metal alloys like titanium and stainless steel that are used to repair or support a broken bone. The market is expected to increase due to the rising prevalence of orthopedic illnesses and rising number of orthopedic surgeries. Additionally, it is anticipated that the patient pool for diagnosis and subsequent surgical operations for these implants would increase due to the growing geriatric populations susceptible to osteoporosis and an increased risk of bone disorders. The market expansion is expected to be supported by an expanding patient base and rise in surgical operations.

The rapid rise in the population of geriatrics, who are more susceptible to orthopedic problems, and rising prevalence of orthopedic disorders such osteoarthritis and arthritis are some of the factors driving the market expansion. The market growth is also supported by technical advancements like robot-assisted surgical instruments, acceptance of implanted medical devices, and widespread use of orthopedic implants to treat musculoskeletal, orthopedic illnesses, & injuries. But expensive treatments including orthopedic implants for treatment and strict government regulations restrain market expansion.

US Orthopedic Implant Market is poised to grow at a sustainable CAGR for the next forecast year.