LONDON , June 6, 2022 /PRNewswire/ -- According to Brandessence Market Research, The Orthopaedic Implants Market size reached USD 47.56 Billion in 2021. The Orthopaedic Implants Market is growing at robust CAGR of 5.4%, and reach size of USD 68.72 Billion by end of Forecast 2025.
Orthopedic Implant Market By Product Type (Joint Reconstruction, Spinal Implants, Trauma Implants, Dental Implants, Orthobiologics, Others), By Group (Permanent Joint Replacements, Temporary Fracture Fixation Devices), By End-User (Hospital, Orthopedic Clinic, Ambulatory Surgery Center, Others), Industry Analysis, Trends, And Forecast, 2021-2027
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The global orthopaedic implants market all over the world has been accounting for a good amount of growth in the recent past and the curve is expected to continue in the coming years too. The orthopaedic implants are medical devices which are manufactured for the replacement of any missing bone or joint or for the support of a damaged bone. The medical implant gets fabricated using the titanium alloys and stainless steel as well as the use of plastic coating which is done on it to create an artificial cartilage. These are used primarily in the surgeries which are minimally invasive.
Orthopaedic Implants Market Key Drivers:
The global orthopaedic implant market size has been growing due to the increased prevalence of orthopedic injuries or the diseases like arthritis, osteoarthritis and the growth in geriatric population which is happening at a rapid rate. Further, we have seen technological innovations in the previous few years such as the surgical tools being robot assisted, acceptance of the implantable medical devices and great application for the orthopedic implants for treating the musculoskeletal and orthopedic injuries. This is going to be one of the biggest global orthopaedic implants market drivers.
What holds the market down though is the fact that the orthopedic implants are always very expensive and the treatment involves going through very strict government procedures. The countries which do not have higher income levels are going to find it difficult contribute to the global orthopaedic implants market.
Orthopaedic Implant Market Competitive Analysis
The key orthopaedic implant market players profiled in the report include:
Wright Medical Group N.V.
The market players are reliant on innovation for their success. This is the kind of market where the growth of the market will depend upon how much they are able to use technology for adopting to the new methods of innovation. The key in the global orthopaedic implants market 2022 is to reduce the cost of the products and create an ecosystem where the lower income groups particularly in the emerging markets are going to be able to afford these procedures. This is where mass adoption of this market is going to take place geographically.
Orthopaedic Implant Market Segmentation Analysis:
The global orthopaedic implants market has been segmented on the basis of product, biomaterial and end user. On the basis of the product, the market has been dominated by the reconstructive joint replacement. With the growing obesity levels and the growth in geriatric population all over the world. The obesity usually takes a toll on the bones and with the growing age of the population, such surgeries are bound to become common.
On the basis of biomaterial, the market has been dominated by the metallic biomaterials segment. This is because of the fact that this metal is cost-effective. The metallic biomaterials provide the efficacy of bone healing in comparison to the other materials. These have been used for the manufacturing of many orthopaedic implants like the plates, screws and the VCF devices. The other biomaterials are also going to grow because of the environmental consciousness promoting the growth of the segment and the market as the use of the unconventional methods increase.
On the basis of type, the market has been segmented into the knee, hip, wrist and shoulder, dental, spine, ankle and others. The segment of knee is going to see the biggest growth in the last few years and this trend is going to keep growing as there is an increase in the orthopaedic diseases. Further, the growth in the road accident cases is going to drive this market. There are other reasons like the spine disorders which are helping in the growth of the spinal segment. This is going to lead to a consistent amount of growth in the spinal and knee segment of the market.
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Orthopaedic Implant Market: Key Trends
The coronavirus pandemic has been disrupting the workflows in the sector of healthcare all over the world. The disease has made many industries shut their shop for a while. The disease has had a negative impact on several sub services of the orthopedic implant. The focus of the healthcare industry was continuously on the coronavirus pandemic only. The outbreak had created a situation where the hospital and healthcare services had to be reduced due to the social distancing measures. This led to a closure of the non-covid services and the orthopedic implants industry was put on the backburner as the world was subdued in the shorter term.
The world however is coming back to normal and that is going to create a scenario where all the surgeries which were postponed will now be given focus and that is going to be important for the market. The global orthopaedic implants market trends suggest that the market is going to grow at the greatest rate yet post the pandemic.
On the basis of region, the global orthopaedic implants market has been dominated by the region of North America . This is because of the growth in geriatric population in this region and the higher income levels. The procedures which are related to the orthopaedic implants market are complex and cost heavy. So, it requires a certain level of income to afford them. The rising obesity levels are also contributing to the market as that reduces the efficacy of the human bones and need for the orthopaedic implants gets important. The market is also going to grow in the Asia Pacific region as the market will see a consistent amount of urbanization and people will become more aware of the existence of the procedures. That will also mean that there is a rise in the income levels and they will be able to afford these kinds of procedures a lot more than they could in the past. That will drive the Orthopedic Implants Market growth in these countries
On Special Requirement Orthopaedic Implants Market Report is also available for below region:
Germany , France,U.K., Italy , Spain , Sweden , Netherland, Turkey , Switzerland , Belgium , Rest of Europe
South_Korea , Japan , China , India , Australia , Philippines , Singapore , Malaysia , Thailand , Indonesia , Rest Of APAC
Mexico , Colombia , Brazil , Argentina , Peru , Rest of Latin America
Middle East and Africa
· Saudi Arabia , UAE, Egypt , South Africa , Rest Of MEA
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