Orthopedic Implants Market by Product (Spinal Implants (Spinal Fusion Devices and Spinal Non-fusion Devices), Joint Reconstruction (Knee Replacement, Hip Replacement, Shoulder Replacement), Trauma Implants (Pins/Wires, Metal Plates & Screws, Nails & Rods), Dental Implants, Orthobiologics), End Users (Hospitals, Orthopedic Clinics and Ambulatory Surgical Centers) - Analysis & Forecast 2019-2030
Report ID : 57 | Published Date : Apr 2019 | Pages : 150 | Region : Global | Report Code : MD-33
Orthopedic Implants Market Overview and Introduction
The global orthopedic implants market is anticipated to grow at a CAGR of 6.2% from 2019 to 2030.
Orthopedic implants are medical devices which are used to support or replace damaged joints or bones. These implants are fabricated using several materials, namely titanium, stainless steel, and other plastic materials. These implants play a vital role in addressing several musculoskeletal conditions, by restoring mobility and reducing pain. Moreover, these implants further assists in treating deformities, restore normal skeletal function and stabilizing body posture among others.
The global market is driven by growing geriatric population, and increasing incidences of osteoarthritis, & osteoporosis worldwide. Moreover, rising medical tourism and advancements in technology has been crucial in contributing to the growth of the global market. For instance, advent of 3D printing technology has gained immense popularity among medical device manufacturers for fabrication of patient-specific implants, prototypes and biodegradable implants among others. However, high costs associated with procedures involving utilization of orthopedic implants coupled with stringent government regulations is likely to restrain the market to a certain extent.
Orthopedic Implants Market by Product
The orthopedic implants market is segmented into spinal implants, joint reconstruction, trauma implants, dental implants, orthobiologics and other products. The segment of spinal implants can be further segmented into spinal fusion devices and spinal non-fusion devices. Similarly, the joint reconstruction can be segmented into knee replacement, hip replacement, shoulder replacement and other joint replacements. The trauma implants segment can be briefly segmented into pins/wires, metal plates & screws, nails & rods and other trauma implants. In terms of market share, the segment of joint reconstruction is estimated to account for the largest market share, owing to increasing growing geriatric population, increasing number of hip replacement surgeries and increasing incidences of arthritis worldwide.
Orthopedic Implants Market by Ends Users
Finally, based on the end users, the market is segmented into hospitals, orthopedic clinics and ambulatory surgical centers, and other end users. The hospitals segment is estimated to account for the largest share of the global market. The large share of this segment can be attributed to presence of advanced facilities, highly skilled healthcare professionals and favorable government regulations are likely to drive the growth of the segment.
Orthopedic Implants Market by Regions
The global market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of orthopedic implants, followed by Europe and Asia Pacific. North America will continue to dominate the global market in the forecast period owing to factors such as increasing incidences of musculoskeletal disorders, growing geriatric population and availability of advanced implant products. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, Korea, Japan and India. Factors such as increasing medical tourism, rising geriatric population, and presence of highly advanced hospital infrastructure are likely to attract patients from different parts of the world.
Orthopedic Implants Market Prominent Players
The prominent players in the global orthopedic implants market are Zimmer Biomet, Stryker Corp., Smith & Nephew, DePuy Synthes , NuVasive, Inc., Medtronic, DJO Global, Inc., Arthrex, Inc., Globus Medical Inc. and B. Braun Melsungen AG among others