USD 33.50 billion
Orthopedic Implants Market Size, Share, Growth Analysis, By Product Type(Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma), By Biomaterial(Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials and Others), By Type(Knee, Hip, Dental, Spine), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2224 |
Region:
Global |
Published Date: July, 2024
Pages:
219
|Tables:
94
|Figures:
76
Orthopedic Implants Market Insights
Global Orthopedic Implants Market size was valued at USD 24.15 Billion in 2022 poised to grow from USD 25 Billion in 2023 to USD 32.92 Billion by 2031, growing at a CAGR of 3.5% in the forecast period (2024-2031).
The increasing prevalence of orthopedic conditions and musculoskeletal disorders, technological developments in implant materials and designs, the growing demand for minimally invasive surgical procedures, and the expansion of healthcare services availability in developing nations are the main factors propelling the growth of the global orthopedic implants market. An orthopedic implant refers to that medical device which serves the purpose of repairing or supporting a bone or joint lesion. These devices are also often used by orthopedic surgeons in procedures aimed at restoring mobility, relieving pain and improving quality of life for patients suffering from conditions like arthritis, fractures or sports injuries. Orthopaedic implants may range from joint replacement such as hip and knee prostheses to screws and plates used in fracture fixation.
These implants are artistically designed to mimic the form and purpose of human bones and joints to enhance outcomes for patients while improving orthopedic care. Owing to advancements in technology, there have been substantial improvements in design and materials used for orthopedic implants which have made them stronger and better thus promoting growth in this market. For instance, Cuvis Joint Robotic System introduced a highly advanced surgical robotic technology that aids surgeons to achieve precise results during personalized pre-history knee surgeries. Therefore, it is anticipated that the market will rise due to these developments and the acceptance of orthopedic implant systems.
US Orthopedic Implants Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Knee Implants
Fastest Growth
Knee Implants
Growth Rate
6.3% CAGR
Global Orthopedic Implants Market ($ Bn)
Country Share for North America Region (%)
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Orthopedic Implants Market Segmental Analysis
The global orthopedic implants market is segmented based on Product Type, Biomaterial and Type. In terms of Product Type, the market is grouped into Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, OrthoBiologics and Others. Based on the Biomaterial, the market is segmented into Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials and Others. Based on the Type, the market is grouped into Knee, Hip, Dental, Spine, Ankle and Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Central & South America and Middle East & Africa.
Analysis by Product Type
As per categorization by product type, the market is classified as Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, OrthoBiologics and Others. Among these, Spinal Implants earned the largest share and continue to dominate the market. Due to the advancement of designs and materials, spinal implants are experiencing tremendous breakthroughs in the global orthopedic implants market, improving patient outcomes and stability. Their preeminence is influenced by the increase in cases of spinal disorders, new technologies and the preference for minimally invasive procedures that make them indispensable to current orthopedic therapies.
The reconstructive joint replacements segment is projected to have the most rapid growth owing to elements such as an aging population, increasing incidents of diseases associated with joints and advancements in implant technology. Improved procedures and materials lead to better surgical outcomes hence fostering demand for these advanced solutions.
Analysis by Biomaterial
Due to advancements in strength and biocompatibility, metallic biomaterials are currently dominating the global orthopedic implants market. Their better mechanical qualities, robustness, and improved integration with bone tissue, which make them perfect for load-bearing applications, are the reasons behind their domination. Their expanding usage in spinal implants and joint replacements is fueled by these improvements.
In the light of their flexibility, portability and adjustable mechanical properties, it is expected that in the global orthopedic implants market polymeric biomaterials will experience the fastest growth rate. Thus, polymer-based implants are increasing for spinal implants and joint replacements due to advances in biocompatibility and polymer chemistry resulting in enhanced performance and safety of these implants.
Global Orthopedic Implants Market By Product
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Orthopedic Implants Market Regional Insights
Due to its strong regulatory framework, substantial expenditure in medical research and development, and well-equipped healthcare infrastructure, North America leads the global orthopedic implants market. A powerful network of leading orthopedic implant manufacturers within this region with advanced technologies and surgical techniques also enhances the region’s gains. Additionally, there is high demand for spinal implants and joint replacements driven by an aging population and increasing cases of orthopedic diseases. Furthermore, large healthcare expenditure combined with patients’ increased awareness as well as access to novel treatments have enshrined North America’s supremacy in the global orthopedic implants market.
The aging population, growing healthcare infrastructure, and rising prevalence of orthopedic disorders in the Asia-Pacific region have made it the fastest-growing global orthopedic implants market. Emerging economies like China and India have been increasing their spending in healthcare system and providing more opportunity for the latest treatments. Moreover, the region is also benefiting from cheaper production costs and rising rates of health travel. The region's dynamic growth trajectory is fueled in part by the rise in orthopedic surgery, which is encouraged by government efforts and raised awareness of healthcare issues. In total, these components create Asia-Pacific a prominent player in the global orthopedic implants market.
Global Orthopedic Implants Market By Region
- Largest
- Fastest
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Orthopedic Implants Market Dynamics
Orthopedic Implants Market Drivers
Rising Prevalence of Orthopedic Conditions:
- The need for implants is being driven by the rising incidence of orthopedic conditions such osteoarthritis, osteoporosis, and spinal disorders. A major factor in this development is the ageing of the world population, which increases the need of orthopedic implants for spinal procedures and joint replacements as age-related joint and bone problems grow more prevalent.
Technological Developments in Implants:
- The global orthopedic implants market is being greatly stimulated by advances in materials, design, and surgery methods. Growing and being adopted by the market are the advancements in minimally invasive surgical techniques and the creation of biocompatible materials like improved metallic and polymeric biomaterials that improve the safety and efficacy of implants.
Restraints
Data Security and Privacy Risks:
- Accessibility may be restricted, especially in developing nations, by the high expenses linked to high tech orthopedic implants and surgical procedures. For several patients, it can be a challenge to comply with the cost of such fees which cover not only the surgeries but also rehab expenses and even after care procedures.
Complications and Revisions Risk:
- There is a chance that orthopedic implants will require revision surgery in the event of infection or implant failure. These hazards may be a reason why patients and health care professionals do not choose to use implants for treatment. In addition, they need constant monitoring and somewhere down the lane, one may need to undergo another surgery hence increasing treatment complexity and costs.
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Orthopedic Implants Market Competitive Landscape
Rethinking how to succeed in the manufacture of global orthopaedic implants market has become very important as competition increases among international players who have presence in many countries. This has seen them dominate like DePuy Synthes (Johnson & Johnson), Medtronic, Zimmer Biomet and Stryker Corporation with a wide variety of advanced products, a large amount spent on research and development as well as extensive distribution channels that span different continents. The need for new surgical techniques and implants’ materials is driving competition through technology improvements, mergers and acquisitions.
Top Player’s Company Profiles in Orthopedic Implants Market
- Stryker Corporation (USA)
- Zimmer Biomet Holdings, Inc. (USA)
- DePuy Synthes (Johnson & Johnson) (USA)
- Medtronic plc (Ireland)
- Smith & Nephew plc (UK)
- Orthofix Medical Inc. (USA)
- NuVasive, Inc. (USA)
- B. Braun Melsungen AG (Germany)
- Aesculap Implant Systems, LLC (Germany)
- Integra LifeSciences Holdings Corporation (USA)
- Arthrex, Inc. (USA)
- LimaCorporate S.p.A. (Italy)
- K2M Group Holdings, Inc. (USA)
- Conformis, Inc. (USA)
- Wright Medical Group N.V. (USA)
Orthopedic Implants Market Recent Developments
- In August 2024, Stryker published their innovative Mako SmartRoboticsTM platform that includes advanced artificial intelligence (AI) technology together with precise joint replacement surgical procedure. This technology shows Stryker’s desire to keep on developing orthopedic implants, hence increasing surgical accuracy, enhancing patient output, and affirming its top position in that sector.
- In July 2024, A revolutionary development in robotically assisted knee surgery, the ROSATM Knee System was introduced by Zimmer Biomet. The system integrates immediate data analysis and improved image quality to raise synchrony, as well as patient recuperation. This development illustrates Zimmer Biomet's focus on the convergence of technology with orthopedic expertise.
- In June 2024, Using advanced biomaterials and minimally invasive surgical techniques, Medtronic has released its latest SpineLogicTM spinal fusion system designed to improve the outcomes of spine surgeries. The system reflects Medtronic's efforts to improve spinal implant technology, with the goal of minimizing recovery times and increasing patient mobility.
Orthopedic Implants Key Market Trends
- Breakthroughs in Medical Technology and Rising Demand for Joint Replacement Surgery: The medical technology industry's breakthroughs, the ageing population, and the increasing prevalence of mof are some of the key themes that define the orthopaedic implantation sector. The need for joint replacement surgery has increased among these, with one notable trend being the global ageing of the population.
- Growing Demand for Customized Solutions Amidst Aging Population: Within the global orthopedic implant market, customization and personalization are becoming more popular; this suggests that ageing is a worse fate than death. It is now essential to produce orthopedic implants that are unique to each patient based on their anatomy and biomechanics, as healthcare is moving more and more towards personalized medicine.
Orthopedic Implants Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, to conclude, numerous forces such as the increasing number of orthopedic ailments around the world, advancements in technologies and improved access to healthcare have collectively propelled the global orthopedic implants market. The market is also being favored by innovative implant materials and designs alongside a surge in demand for less invasive procedures.
Emphasis on customized and personalized solutions indicates a move toward patient-centered care, especially due to the increased number of elderly people. As leading players use advanced technology and reach out globally, this market will keep changing to face new emerging needs and chances in better orthopedic treatment.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 24.15 Billion |
| Market size value in 2031 | USD 32.92 Billion |
| Growth Rate | 3.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Orthopedic Implants Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Orthopedic Implants Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Orthopedic Implants Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Orthopedic Implants Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Orthopedic Implants Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Orthopedic Implants Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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