Global Orthopedic Implants Market is predicted to reach US$ 68.71 Billion by 2028, at 5.51% CAGR Growth
21 Nov, 2023

Orthopaedic Implant Market is anticipated to be valued at roughly US$ 68.71 Billion by 2028 due to the increasing incidence of musculoskeletal disorders, a rising aging population, and advancements in implant technologies, which enhance patient outcomes and quality of life.

In a report titled "Orthopedic Implants Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” published recently by Renub Research, market share insights are included and thorough industry analysis. The report also includes research on regions, competitors, and the recent expansion of the Orthopaedic Implant Market.

Orthopaedic Implant Market is projected to grow at a CAGR of 5.51% between 2023 and 2028. The increasing prevalence of musculoskeletal disorders (MSDs) drastically affects the orthopaedic implant market. MSDs embody conditions affects muscle groups, bones, joints, tendons, ligaments, nerves, and blood vessels and may result from different factors, like aging, overuse, and damage. These problems are a major global cause of disability, accounting for over 1 in 10 years of life lost to disability, as reported by the World Health Organization. Furthermore, MSDs impose a tremendous economic burden, with the United States experiencing over $2 hundred billion in annual costs associated with lost productivity and medical expenses. This growing occurrence of MSDs drives the need for orthopaedic implants, specifically for conditions like arthritis, osteoporosis, and fractures, wherein synthetic joints, spinal implants, and trauma implants are common sorts.

Moreover, advancements in orthopaedic implant technologies are reshaping the market, fostering the introduction of more durable, effective, and minimally invasive implants in comparison to their traditional counterparts. Novel materials, consisting of ceramic, titanium, and antibacterial silver, enhance durability and biocompatibility. Innovative implant designs feature smaller profiles, natural shapes, medication-liberating coatings, and bone growth-promoting surfaces. 3D printing customizes implants to male or female anatomies, enhancing their shape and effectiveness. Robotics and automation facilitate particular, reliable performance in complex procedures, such as minimally invasive spinal surgical treatment, driving transformative modifications in the orthopaedic implant market.

Similarly, governments understand the importance of orthopaedic implants and actively assist the industry through research and development funding and packages to enhance patients' access. The U.S. authorities allocate research and development finances through the National Institutes of Health (NIH) and enforce protection and efficacy standards through the Food and Drug Administration (FDA). It additionally provides economic support through the Centers for Medicare and Medicaid Services (CMS) and the Veterans Health Administration (VHA) to improve patient access. CMS gives implant reimbursement, and VHA guarantees veteran’s access. Similarly, the Canadian government supports research and development through the Canadian Institutes of Health Research (CIHR). It promotes accessibility under the Canadian Health Act, ensuring Canadians have access to important healthcare services, including orthopaedic implants.

Report Details:

In the market for orthopaedic implants, joint reconstruction commands the largest share.

Joint reconstruction commands the major proportion in the orthopaedic implants market because of the increasing prevalence of orthopaedic situations like osteoarthritis and joint injuries, leading to a developing call for joint alternative processes. The growing older populace, coupled with a surge in musculoskeletal problems, drives the demand for joint reconstruction implants. Technological improvements in implant materials, designs, and minimally invasive surgical techniques have similarly strengthened the dominance of joint reconstruction within the orthopaedic implant market, supplying patients with improved mobility and a more enhanced quality of life.

Orthopaedic implants market is experiencing significant growth in the ceramics and bioactive glass and polymer segments.

The Ceramics and Bioactive, Glass, and Polymers segments are experiencing substantial increases within the orthopaedic implants market commonly due to their precise material properties. Ceramics and bioactive glass provide excellent biocompatibility, durability, and wear resistance, making them ideal for implant components. Polymers, on the other hand, offer versatility, decreased weight, and much less stress protection, making them advantageous in implant layout. These substances are more and more preferred for their capability to sell osseointegration, reduce destructive tissue reactions, and enhance ordinary patient effects, driving their vast market increase.

Hospitals and Surgical Centers obtain the largest market share for orthopaedic implants.

Hospitals and surgical treatment facilities dominate the orthopaedic implants market due to their position as the top facilities for orthopaedic methods. They offer specialized care, advanced surgical equipment, and professional clinical specialists, attracting patients in need of orthopaedic implant treatment. The convenience of comprehensive care and the capability to address complex instances contribute to their vast market share. Furthermore, the presence of integrated healthcare systems and collaborations with orthopaedic device producers guarantees seamless implant availability and fosters their dominance within the market.

Asia Pacific region is poised for significant growth in the orthopaedic implants market during the forecast period.

The Asia Pacific's orthopaedic implants market prospers on interconnected factors, most substantially an aging populace, particularly in China, where the number of people aged 65 and older will increase from 264 million to 400 million through 2030, intensifying the call for orthopaedic implants. Simultaneously, the expanding middle class, projected to grow from 400 million to 600 million by 2030, bolsters disposable incomes, rendering orthopaedic surgical procedures more financially accessible. Extensive investments in healthcare infrastructure, which include plans for 1,000 new hospitals and 30,000 clinics in China by 2030, will expand the provision of orthopaedic surgery services. Furthermore, public awareness campaigns supported by the Chinese government train the population about orthopaedic situations and the benefits of orthopaedic surgical treatment, resulting in a heightened need for orthopaedic implants.

Competitive Landscape

The top companies in the global orthopaedic implants market are Zimmer Biomet Holdings, Integra Lifesciences Holdings, Baxter, Conmed Corporation, Medtronic plc, Stryker Corporation, NuVasive Inc., and Smith & Nephew Inc.

Market Summary

• Application – The report analyses the Orthopaedic Implant Market by application from six different angles (Joint Reconstruction, Spinal Implants, Trauma Implants, Dental Implants, Orthobiologics, and Others).
• Material – A Renub Research report on the Orthopaedic Implant Market looks at material from five angles (Ceramics & Bioactive Glasses biomaterials, Polymers Biomaterials, calcium phosphate cements, metal biomaterials, composites).
• End-Users – The report analyses the Orthopaedic Implant Market by end-users from three different angles (Hospitals & Surgery Centers, Orthopaedic Clinics, and Others).
• Region – There is four different perspectives on the Orthopaedic Implant Market by region (North America, Europe, Asia Pacific, Rest of World).
• Key Players – Every significant player in the Orthopaedic Implant Market has been discussed from three perspectives (Overview, Recent Developments, and Revenue): Zimmer Biomet Holdings, Integra Lifesciences Holdings, Baxter, Conmed Corporation, Medtronic plc, Stryker Corporation, NuVasiveInc, and Smith & Nephew Inc.

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