The orthopedic implant can be referred as a medical device, which is surgically placed within the body of a patient in order to restore functioning of bone by replacing or reinforcing a damaged structure. These implants are either withdrawn from the body after getting the desired results or permanently incorporated within the body. The global orthopedic implants market is touted to register 6.8% CAGR during the forecast period (2017-2023).
Market Overview:
The orthopedic implant market has witnessed a tectonic surge over the past few years, mainly due to the rising number of replacement surgeries like hip, knee, shoulder, and other joint or bone. The increased incidences of orthopedic diseases and injuries and rapid growth in the aging population are some of the growth stimulants of the orthopedic implants market. Advancing technological innovations like robot-assisted surgical tools, extensive application of orthopedic implants in the treatment of orthopedic diseases, musculoskeletal, and injuries, coupled with the increased acceptance of implantable medical devices are likely to encourage the market growth.
On the contrary, the high cost of orthopedic implant procedures, coupled with the strict government mandates are likely to restrict the market growth in the foreseeable future.
Major Competitive Players Dashboard:
The top players operating in the orthopedic implants market include Globus Medical, Inc. (US), Depuy Synthes Inc. (Johnson & Johnson) (US), Smith & Nephew plc. (UK), NuVasive, Inc. (US), Zimmer Biomet Holdings, Inc. (the US), Stryker Corporation (US), Medtronic, plc (Ireland), Integra LifeSciences Holdings Corporation (US), Wright Medical Group N.V. (Netherlands), The Orthopedic Implant Company (US), BioTek Instruments, Inc. (US), Aesculap Implant Systems (US), Conmed Corporation (US), Arthrocare Corporation (US), and others.
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Segmental Analysis:
The orthopedic implants market has been segmented on the basis of procedure, product type, device type, biomaterial, application, and end-user.
the market is segmented By product type into dental implants, spinal implants, reconstructive joint implants, trauma and craniomaxillofacial implants, orthobiologics, and others.
The procedure segment comprises minimally invasive surgery (MIS), open surgery, and others. Of these, the minimally invasive surgery is huge demand globally due to fewer chances of infection post-surgery and minimum pain during the surgery.
the market Based on the biomaterial is segregated into polymer biomaterials, metallic biomaterials, ceramic biomaterials, and natural biomaterials. Of these, the metallic biomaterials segment will garner considerable share, mainly due to the cost-effectiveness of these products.
Moreover, these materials offer efficacy of bone healing compared to other materials, which further increases their demand.
the market is segmented By device type into external fixation devices and internal fixation devices.
the market Based on the application into spine fracture, neck fracture, shoulder replacement, hip replacement, and others.
The end users segment comprises home cares, orthopedic clinics, hospitals, and others.
LIST OF TABLES
Table 1 Global Orthopedic implants Market Synopsis, 2018–2023
Table 2 Global Orthopedic implants Market Estimates and Forecast, 2018–2023, (USD Million)
Table 3 Global Orthopedic Implants Market, by Region, 2018–2023, (USD Million)
Table 4 Global Orthopedic Implants Market, by Product Type, 2018–2023, (USD Million)
Table 5 Global Orthopedic Implants Market, by Procedure, 2018–2023, (USD Million)
Table 6 Global Orthopedic Implants Market, by Biomaterial, 2018–2023, (USD Million)
Table 7 Global Orthopedic Implants Market, by Device Type, 2018–2023, (USD Million)
Table 8 Global Orthopedic Implants Market, by Application, 2018–2023, (USD Million)
Table 9 Global Orthopedic Implants Market, by End-User, 2018–2023, (USD Million)
…To be Continued.
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Geographically, the orthopedic implants market spans across Europe, America, Asia Pacific, and the Middle East & Africa.
Industry Updates
In 2019, a co-operation contract was signed between Syntellix Asia Pte. Ltd., Syntellix AG from Hannover, and Beijing Chunlizhengda Medical Instruments Co., Ltd., with the aim to tap into the Chinese med-tech market, which is based on magnesium-based implant technology, developed by Syntellix. It has already obtained market approval and product registration in almost 56 nations.
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