CAGR: 6.7%Current Market Size: USD 41.30 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
The Global Orthopedic Implants market is expected to grow from USD 41.30 billion in 2021 to USD 69.38 billion by 2029, at a CAGR of 6.7% during the Projection period 2022-2029. The growth of this market is mainly driven by increasing orthopedic injuries or diseases.
Medical devices known as orthopaedic implants are used to support or replace broken bones or joints. These are created utilising titanium alloys and stainless steel alloys for strength, along with a plastic covering that serves as synthetic cartilage. These implants can be used to treat fractures, various forms of arthritis, and orthopaedic traumas. Orthopedic implants are helpful in joint replacement procedures as well, which include removing the diseased joint and replacing it with a prosthesis. The market growth has been favourably affected by the astonishing transition from invasive standard procedures to minimally invasive surgery. Hip fractures are frequently quite painful. This is why quick surgical intervention is advised. Early fracture treatment and getting the patient out of bed helps avoid subsequent medical issues such bed sores, blood clots, and pneumonia. Disorientation can also happen in elderly people who have been bedridden for a very long time, which makes rehabilitation and recovery much more challenging. Nails and orthopaedic implants both play a significant part in the fixing procedure. The choice of implant material is extremely important since it affects tissue receptivity, biocompatibility, stiffness, and corrosion. The stability of the implants within the skeleton or the surrounding cement mantle is also impacted by their surface shape.
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Market Dynamics:
Drivers:
The growth in orthopaedic surgery is what is driving the market. As the frequency of traumas, accidents, and injuries rises, so does the need for orthopaedic implants. In addition, problems with bone density and middle-age bone illnesses are on the rise. In the upcoming years, all of these variables are anticipated to accelerate the orthopaedic market's expansion.
Restraints:
However, the high treatment costs may slow the market's expansion for orthopaedic implants. The removal or replacement of a bone is one of the trickier procedures. The likelihood of bone regeneration depends on the insertion of adequate orthopaedic implants. Due to their high cost, orthopaedic implant procedures are not frequently chosen by clients.
Opportunities:
Orthopedic implant manufacturers have developed new technologies in response to the growing demand while also expanding their product penetration and market reach. Leading manufacturers of orthopaedic implants are utilising 3D printing technology to enhance the bond between metal and bone in the case of implants with size-controlled micro-pore structures as well as surgical equipment and anatomical models.
Challenges:
The orthopaedic implants market would face difficulties due to the shortage of highly qualified workers in developing countries. In addition, the COVID-19 pandemic had a negative effect on the market for joint replacements as a whole, including smart orthopaedic implants, which saw decreased sales and demand. This came about as a result of postponed or cancelled elective surgeries, logistical difficulties in carrying out clinical studies, supply chain difficulties, and decreased sales and marketing efforts. Important market participants indicated a fall in revenues, particularly in 2020.
Segmentation Analysis:
The global orthopedic implants market has been segmented based on Product, Biomaterial, Type, End-user and Regions.
By Product
The Product segment includes Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Orthobiologics, Trauma & Craniomaxillofacial Implants and Others. The Reconstructive joint replacements segment led the largest share of the Orthopedic Implants market with a market share of around 60% in 2021. Reconstructive joint implants are predicted to hold the largest market share during the Projection period and thus dominate the market. This category is expected to maintain its dominance during the market's growth phase as a consequence of the sharp rise in osteoarthritis and osteoporosis cases.
By Biomaterial
The Biomaterial segment includes Ceramics Biomaterials, Metallic Biomaterials, Polymeric Biomaterials and Natural Biomaterials Constipation. The Metallic Biomaterials segment led the Orthopedic Implants market with a market share of around 32% in 2021. The Biomaterials segment has been increasing because it has many advantages. Compared to other materials employed, metallic biomaterials are more affordable and promote better bone repair. They are primarily employed in the production of several orthopaedic implants, including plates, screws, and VCF devices.
By Type
The Type segment includes Knee Fracture, Spine Fracture, Hip Replacement, Shoulder Replacement and Others. The Knee Fracture segment led the Orthopedic Implants market with a market share of around 25.08% in 2021. The frequency of bone injuries and joint dislocations has steadily increased due to the incidence of road traffic accidents, to retain its position in the future. Due to the rising incidence of sports injuries, which is seen as a result of the players' greater competition, the number of bone injuries has also grown. Accidental lifestyle choices that result in obesity are now a significant contributor to a number of bone fractures and joint problems. Due to the fact that the knee carries the body's direct weight, a number of reasons have contributed to the knee market's growth. Additionally, this has resulted in a variety of spinal problems, which spurs market expansion.
By End-User
The End user segment includes Hospitals, Orthopedic Clinics, Home Cares and Others. The Hospitals segment led the Orthopedic Implants market with a market share of around 28.08% in 2021. The major hospitals that provide implantations are to blame for the segment's domination with their wide reimbursement practises. The industry is also expected to increase as a result of manufacturer attempts to provide cutting-edge goods through partnerships with important institutions and greater usage of innovative implantation techniques such robot-assisted orthopaedic surgery. The installation of robotic equipment for orthopaedic surgeries by prestigious hospitals in the U.S., the U.K., and other industrialised nations has been crucial in drawing a sizable patient population for treatment at these institutions.
Global Orthopedic Implants Market- Sales Analysis
The sale of Orthopedic Implants types expanded at a CAGR of 4.2% from 2015 to 2021.
Obesity and diabetes co-morbidities are increasing at a rapid rate, which raises the risk of degenerative joint disorders, particularly in older people. Injuries related to sports and fitness are on the rise as young people participate in these activities at a higher rate. This has increased the need for orthopaedic implants globally.
Additionally, factors that fuel the market's expansion include an increase in the incidence of orthopaedic injuries and diseases including osteoarthritis and arthritis as well as the swift increase in the population of geriatrics, who are more susceptible to orthopaedic disorders. The market's expansion is also supported by technical advancements like robot-assisted surgical instruments, adoption of implanted medical devices, and widespread use of orthopaedic implants to treat musculoskeletal, orthopaedic illnesses, & injuries.
Thus, owing to the aforementioned factors, the global Orthopedic Implants Market is expected to grow at a CAGR of 6.7% during the Projection period from 2022 to 2029.
By Regional Analysis:
The regions analysed for the Orthopedic Implants market include North America, Europe, South America, Asia Pacific, the Middle East and Africa. The North America region dominated the Orthopedic Implants market and held a 35% share of the market revenue in 2021.
Global Orthopedic Implants Market- Country Analysis:
Germany’s Orthopedic Implants market size was valued at USD 1.73 billion in 2021 and is expected to reach USD 4.28 billion by 2029, at a CAGR of 12% from 2022 to 2029. With the exception of spinal compression fracture, Medtronic was the dominant competitor in every significant market (VCF). The company's broad portfolio across all market categories has contributed to its longevity as a market leader. The second-largest rival in the spinal implant and VCF market was DePuy Synthes. In all significant market categories, it was the secondary competitor. Thoracolumbar fixation was a market category where the firm held the biggest market share in Germany.
China’s Orthopedic Implants’ market size was valued at USD 1.44 billion in 2021 and is expected to reach USD 3.08 billion by 2029, at a CAGR of 10% from 2022 to 2029. The trauma product has the greatest localisation rate in China out of all the other forms of OMD. Domestic manufacturers predominate in many hospitals since their trauma OMD essentially has a similar degree of quality to that of overseas manufacturers. However, because to the fact that many domestic items are still of a lower quality than imported goods, joint and spine products are still mostly produced by foreign companies, particularly in first-tier cities.
India's Orthopedic Implants market size was valued at USD 1.30 billion in 2021 and is expected to reach USD 2.59 billion by 2029, at a CAGR of 9% from 2022 to 2029. The expanding senior population in India and the prevalence of disorders like diabetes, obesity, osteoarthritis, and osteoporosis are what are driving the market for orthopaedic devices. The market for Indian orthopaedic devices is also anticipated to be driven by an increase in traffic accidents over the next years. Through FY2026, it is also predicted that rising health care costs would drive the industry.
Key Industry Players Analysis:
To increase their market position in the global Orthopedic Implants business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, type developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
6.7% |
Market Size |
41.30 billion in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By Biomaterial, By Type, By End-User and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Zimmer Biomet Holdings, Stryker Corporation, Johnson & Johnson, Medtronic Plc, NuVasive, Arthrex, Inc, DJO Finance LLC, Smith and Nephew Plc., and CONMED Corporation. |
By Product |
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By Biomaterial |
|
By Type |
|
By End-User |
|
Regional scope |
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Scope of the Report
Global Orthopedic Implants Market by Product:
Global Orthopedic Implants Market by Biomaterial:
Global Orthopedic Implants Market by Type:
Global Orthopedic Implants Market By End-User:
Global Orthopedic Implants Market by Region:
Global Orthopedic Implants market’s size in 2021 was USD 41.30 billion in 2021
The global Orthopedic Implants market is expected to grow with a 6.7% CAGR during the Projection period.
The North American Orthopedic Implants market was projected to gain a global market share of 39% in 2021.
Global Orthopedic Implants key market players are Abbott Laboratories, Thermo Fisher Scientific Inc., Bio Rad Laboratories Inc., Roche Holding AG, GE Healthcare, Illumina, Inc., Siemens AG, Bristol-Myers Squibb, Toshiba Medical Systems Corporation, Koninklijke Philips N.V., and Agilent Technologies Inc.
Political Factors- In the US, implants and devices are governed by the FDA. In order to assess the level of control necessary to ensure efficiency and device safety, the FDA divides devices into three regulatory classes based on risk. Through these regulatory classes, the necessary laboratory testing before product launch is standardised. Class I is the least regulated class, and Class III is the most regulated class. A non-powered goniometer, which is merely an outside equipment, is categorised as Class I while an arthroscope, an endoscopic device used to observe an interior joint, is classified as Class II. A Class II implantable device, such as an intramedullary nail, or a Class III implantable device, such as an artificial intervertebral disc, are both possible.
Economical Factors- In addition to the consolidation of significant healthcare operations, a shift to payors and providers is having an impact on the market for orthopaedic equipment. States also have fewer insurer options as insurers merge. This merger and acquisition activity has an impact on Orthopaedic implants price and marketing. An ageing population and an increase in osteoarthritis and osteoporosis globally are driving the global market. A combination of rising medical tourism and technological developments has resulted in a major expansion in the global industry. Some of the factors propelling the Orthopaedic implantss market are the growing geriatric population, increased risk of osteoporosis and osteoarthritis, as well as an increase in joint replacement and sports injuries internationally.
Social Factor- Geriatric adults are more likely to have age-related bone diseases include osteoarthritis, rickets, and osteomalacia. The number of older individuals seeking joint replacement surgery has significantly increased during the last few years. The Global Arthritis Network estimates that 350 million individuals globally have arthritis. About 25 out of every 1,000 people who have osteoarthritis require orthopaedic surgery. The World Health Organization (WHO) predicts that 2 billion individuals will be 60 years of age or older worldwide by the year 2050. The industry has been influenced in recent years by an increase in demand for orthopaedic equipment from lower socioeconomic groups.
Technological Factors- In the field of Orthopaedic implantss, innovation is actually lacking. The majority of recently produced gadgets are built on a small number of existing core platforms. Although cost is still a factor in these types of advancements, there is innovation in the usage of new materials and the materials themselves. Automation in orthopaedic implant technologies is opening up new opportunities for growth. Additionally, the process is simplified by the use of robots. Robotic surgery has a higher success rate than surgery conducted by a human surgeon. It expands the use of robots in the market for orthopaedic equipment. It is a crucial component that promotes rapid growth. Another factor with potential for growth is expanding research and development.
Environmental Factors- The carbon footprint, which measures the environmental impact and GHGE, provides an assessment of the direct and indirect GHGE resulting from the production and consumption of a good or service. The carbon footprint of the American healthcare sector accounts for 8% of the nation's total GHGE. Hospitals account for one-third of the industry's environmental impact and are the primary sources of acidification, smog, air pollutants, and ecotoxicity. A range of 146 kg to 232 kilogramme CO2 equivalents (CO2e) per case was discovered to be the average carbon footprint per OR each year. It has been established that 88 percent of the carbon footprint of ORs is caused by energy demand and anaesthetic preference.
Legal Factors- As the industry changes and grows, so do the regulations that apply to it. Regulations may prove to be a significant roadblock for the potential of the medical industry. Although the market for Orthopaedic implantss is not exempt from regulatory scrutiny, it surely has an impact on it given that this sector was among the first to garner FDA notice. In addition to the consolidation of significant healthcare operations, a shift to payors and providers is having an impact on the market for orthopaedic equipment. States also have fewer insurer options as insurers merge. This merger and acquisition activity is having an impact on Orthopaedic implants marketing pricing.
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