September 13, 2022 11:00 ET | Source: Vantage Market Research Vantage Market Research
WASHINGTON, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Orthopedic Implants Market finds that the increased rate of patients with orthopedic disorders and the growing senior population count across the globe is anticipated to enhance the growth of the Global Orthopedic Implants Market during the forecast period. The Global Market revenue was valued at USD 42.1 Billion in 2021.
The Global Orthopedic Implants Market Size is forecast to reach USD 55.4 Billion by 2028 and is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period; states Vantage Market Research, in a report, titled “Orthopedic Implants Market Size, Share & Trends Analysis Report by Products (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, Other Products), by Types (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, Other Types), by Biomaterials (Metallic Biomaterials, Ceramic Biomaterials, Polymers Biomaterials, Other Biomaterials), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Key Industry Findings & Insights from the report:
List of Prominent Players in Orthopedic Implants Market:
Rise in Geriatric Population Base to Drive the Market Growth
The growth in the Global Orthopedic Implants Market is attributable to the rise in the geriatric population worldwide. Moreover, as stated by the World Health Organization, in 2021, the elderly population base will likely increase from 1 billion to 1.4 billion globally by 2030. In addition, 1 in 6 people is estimated to reach 60 during the forecast period. Furthermore, the patients in their middle years are progressively more preferring for Orthopedic Implants Market because of lifestyle-related concerns such as insufficient exercise and early burnout. Also, as age progress, the risk of getting bone disorders, fractures, and bone porosity are significant issues, which considers the elderly a prospective patient population for the Orthopedic Implants Market industry. As a result, the growth of the Global Orthopedic Implants Market is expected to boost due to all these aspects in the coming years.
Increasing Prevalence of Orthopedic Diseases to Stimulate Market Growth
The growth of the Orthopedic Implants Market is propelled by the surge in the cases of orthopedic surgeries across the globe. In addition, the increase in incidences of orthopedic diseases such as arthritis, osteoarthritis, and others are the major factors driving the market growth. Moreover, the requirement for Orthopedic Implants Market is also escalating because of the growing number of accidents, injuries, and traumas. In addition, bone density issues and middle-aged bone diseases are growing more. Therefore, all factors are likely to augment the market's future growth.
Furthermore, the growing urbanization, an increasing disposable income, and several government initiatives to enable reimbursements for the patient population positively influence the market expansion. In addition, the increase in acceptance of implantable medical devices and growing healthcare infrastructure expenses are likely to fuel the Orthopedic Implants Market growth. Besides, the occurrence of osteoarthritis and other bone-related diseases will propel the market's growth.
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The COVID-19 outbreak has affected various industries worldwide, and the Global Orthopedic Implants Market is no exception. Governments across the world implemented several measures like strict lockdown to ensure social distancing norms to restrict the swift spread of the pandemic. The Orthopedic Implants Market suffered as the manufacturing units worldwide were forced to shut down during the initial stages of the pandemic. Small and medium-scale companies, which are the backbone technology providers to the Orthopedic Implants Market industry were directly affected due to the epidemic. Furthermore, the rollout for the Orthopedic Implants Market industry too is taken into consideration as the aftereffects of the pandemic are gradually coming down since the beginning of 2022.
The situation is seen to improve in the second half of 2022 as more supplies resume normal. Vantage Market Research, while performing the analysis study for the Global Orthopedic Implants Market has considered the impact of COVID-19 on the Orthopedic Implants Market globally and the subsidiaries for the Orthopedic Implants Market industry. In addition, the demand and supply chain is considered while estimating the current and forecast market size for the Global Orthopedic Implants Market industry for all the regions and countries based on the following data points:
1. Impact Assessment of COVID-19 Pandemic
e. Middle East & Africa
2. Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
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The report on Orthopedic Implants Market highlights:
North America Dominated the Global Orthopedic Implants Market
North America dominated the Global Orthopedic Implants Market in 2021 and is expected to continue the same during the forecast period. The region’s development is due to the increase in the geriatric population count thus growing the number of patients with osteoarthritis and osteoporosis in the region. Moreover, the growth in investments in research and development by top pharmaceuticals and the emphasis of top players on growth strategies like partnerships & collaborations are fuelling the industry expansion. Also, the increase in adoption of minimally invasive procedures and the presence well-defined regulatory framework and recommendations of government and healthcare agencies in North America are expected to propel the market growth in the future.
Browse market data Tables and Figures spread through 147 Pages and in-depth TOC on "Orthopedic Implants Market Size, Share & Trends Analysis Report by Products (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, Other Products), by Types (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, Other Types), by Biomaterials (Metallic Biomaterials, Ceramic Biomaterials, Polymers Biomaterials, Other Biomaterials), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)".
March 2022: Zimmer Biomet, a publicly traded medical device company, announced the launch of Walk AI, the company's first AI-based solution. The Artificial Intelligence model identifies patients predicted to have a lower walking speed post hip or knee surgery. In addition, the Walk AI adds powerful predictive analytic capabilities to ZBEdge™, a suite of integrated smart, digital, and robotic technologies purposefully engineered to give transformative data-powered clinical insights which will help improve patient outcomes.
Key Questions Answered in The Report:
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