Orthopedic Digit Implants - Market Insights, Competitive Landscape, and Market Forecast - 2030

Orthopedic Digit Implants Market By Product Type (Meta Tarsal Joint Implants, Meta Carpal Joint Implants, Toe Intramedullary Digit Implants, Scophoid Bone Digit Implants, And Hemiphalangeal Digit Implants), By Material Type (Pyrocarbon, Titanium, Ninitol, And Others), By End-User (Hospitals, Speciality Orthopedic Clinics, And Others), by geography is expected to grow at a healthy CAGR forecast till 2030 owing to increasing geriatric population in the region and rising prevalence of rheumatoid arthritis worldwide

Global orthopedic digit implants market was valued at USD 92.34 Million in 2023, growing at a CAGR of 6.50% during the forecast period from 2024 to 2030 to reach USD 134.53 Million by 2030. The increase in demand for orthopedic digit implants is primarily attributed to the increasing geriatric population worldwide and rising prevalence of rheumatoid arthritis. Additionally, the increasing number of orthopedic conditions will propel the market growth of orthopedic digit implants. Further, the rising demand for minimally invasive operations across the world are anticipated to bolster the market, thereby contributing to the growth of the orthopedic digit implants market during the forecast period from 2024-2030.

Orthopedic Digit Implants Market Dynamics:

The orthopedic digit implants market is witnessing a growth in product demand owing to various reasons.

The rising prevalence of rheumatoid arthritis, across the world are anticipated to bolster the market. For instance, as per the World Health Organization (WHO) 2022, it was estimated that more than 23 million people globally suffered from rheumatoid arthritis in the year 2020 - 2022. As per the same source, it was estimated that by the year 2030, the number of patients suffering from rheumatoid arthritis will get double. Rheumatoid arthritis mainly attacks the joints causing inflammation and painful swelling in the affected parts of the body. To cure this, many patients go for orthopedic implants, which helps in reduction of both inflammation and pain. Thus, the increasing prevalence of rheumatoid arthritis will increase the demand of orthopedic digit implants in the market, thereby propelling the overall market growth of the device in the forecast period.

Additionally, the increasing number of geriatric patients will also increase the demand of the orthopedic digit implants as the geriatric people are more to the orthopedic disorders. For instance, according to WHO 2022, by 2030, one in six people in the world will be aged 60 years or over. The share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion globally. By 2050, the world's population of people aged 60 years and older will double (2.1 billion). The number of people aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million. Thus, the number of geriatric population is increasing which will in turn affect the prevalence of orthopedic disorders in knee, toe, hip, ankle, and others as age is one of the major risk factor for these disorders. The increased prevalence of orthopedic disorder will bolster the market of orthopedic digit implants in the forecast period.

However, stringent regulatory approvals and hypersensitivity, displacement of the implant, infections after surgery, and toxicity from the implant may hamper the orthopedic digit implants market growth.

The ongoing COVID-19 pandemic has slightly impacted the market for orthopedic digit implants. At the onset of the disease, there was a significant shortage, attributed to the imposition of stringent lockdowns to curb the spread of the virus. Hospital admissions for patients suffering from rheumatoid arthritis, orthopedic disorders and other chronic disorders were not a priority in comparison to the patients suffering from coronavirus. Production of some forms of medical devices was shut down. Furthermore, surgeries were temporarily stopped during the pandemic. To reduce the COVID-19 transmission risk, the physician have either postponed or canceled the semi-urgent and elective cases. However, with masses being vaccinated and with the resumption of resources and raw materials, the orthopedic digit implants market has picked momentum.

Orthopedic Digit Implants Market Segment Analysis:

Orthopedic Digit Implants Market by Product Type (Meta Tarsal Joint Implants, Meta Carpal Joint Implants, Toe Intramedullary Digit Implants, Scophoid Bone Digit Implants, and Hemiphalangeal Digit Implants), by Material Type (Pyrocarbon, Titanium, Ninitol, and Others), by End User (Hospitals, Speciality Orthopedic Clinics, and Others), and by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the material type segment of the orthopedic digit implants market, the titanium segment is estimated to hold a significant share in the orthopedic digit implants market in the year 2023. This can be ascribed to the various advantages that are associated with the titanium orthopedic digit implant.

The most important benefit of titanium implant is that these implants have a very high resistance to corrosion in the body and offer an excellent biocompatibility with the bone. Over time other materials can deteriorate and lead to tiny cracks but titanium overpower this disadvantage.

Moreover, the titanium surface of the implant fuses with the surrounding bone through the Osseo integration process while healing, which can take about 3 to 6 months.

Furthermore, the titanium implants are incredibly strong, have high flexural properties and resist fracture.

Moreover, the product launches, in turn, drive the product demand in the market. For instance, in June 2020, Xenco Medical, surgical implant maker had announced the nationwide launch of the first injection-molded titanium foam spinal implants pre-attached to disposable, composite polymer instruments, the CancelleX porous titanium lumbar interbodies.

Thus, owing to the various advantages offered by the titanium orthopedic digit implants and an increase in the launch and approvals of the device, there will be an increase in the demand for titanium orthopedic digit implant, which in turn will drive the orthopedic digit implants market growth.

North America is expected to dominate the overall Orthopedic Digit Implants Market:

Among all the regions, North America is estimated to achieve a significant share in the global Orthopedic Digit Implants market. Increasing geriatric population in the region and rising prevalence of rheumatoid arthritis will increase the demand for orthopedic digit implants in North America, leading to a rise in the overall orthopedic digit implants market growth. Moreover, the rising awareness and demand of minimally invasive surgeries will bolster the overall market growth in the North America.

According to the Government of Canada 2022, by 2030 seniors are expected to surge over 9.5 million and make up about 23% of the Canadians. Moreover, as per the same source, by 2036, the average life expectancy at birth for women will rise to 86.2 years from the current 84.2 and to 82.9 years from the current 80 for men. Geriatric patients are more prone to orthopedic disorders. As the number of geriatric people is expected to increase in the forecast period a rise in demand of orthopedic digit implants in the market is seen in the forecast period in the region.

Additionally, owing to the region's robust economic position and well-developed healthcare infrastructure, the market of the device will increase in the region in the year 2023 - 2028.

Moreover, the product launch, in the region, in turn will tend to increase the market growth of the device. For instance, in December 2020, Ensemble Orthopedics Inc., a privately held orthopedic company had received 510 (k) approval from the United States Food and Drug Administration for its inclusion of the Ensemble CMC. Ensemble CMC is designed to treat patients with osteoarthritis of the anterior segment of the carpometacarpal joint (CMC) using a minimally invasive, simple surgical procedure.

Furthermore, the rising prevalence of osteoarthritis will increase the product demand in North America. As per the CDC 2020, it was estimated osteoarthritis affected over 32.5 million US adults in the year 2020. As per the same source, it was concluded that women suffer more from osteoarthritis than the men. Osteoarthritis can damage any form of joint, the disorder most commonly affects joints in the hands, knees, hips and spine and causes inflammation and severe pain. To cure the disorder patient go the orthopedic digit implants through a minimally invasive surgical procedure. Therefore increasing the demand in the orthopedic digit implants market. Thus, the increasing prevalence of osteoarthritis in the North America will increase the demand of the orthopedic digit implant thereby anticipated to propel the overall market growth in the North America in the forecast period of 2022 - 2028.

Thus, all the above-mentioned factors are anticipated to propel the market for orthopedic digit implants in the North America.

Orthopedic Digit Implants Market Key Players:

Some of the key market players operating in the Orthopedic Digit Implants market include Acumed LLC, Integra LifeSciences Corporation, Smith & Nephew, Johnson & Johnson, Stryker, Arthrex, Inc., VILEX, LLC, Merete GmbH, Anika Therapeutics, Inc., Advin Health Care, Bond Well Ortho Products., Zimmer Biomet., Teijin Nakashima Medical Co., Ltd., Safe Orthopaedics, ArthroCare Corporation, among others.

Recent Developmental Activities in the Orthopedic Digit Implants Market:

In February 2022, Johnson & Johnson Medical Devices Companies, Medical Devices Companies announced that DePuy Synthes, the Orthopaedics Company of Johnson & Johnson has acquired CrossRoads® Extremity Systems, a Tennessee-based foot and ankle company that provides a broad range of procedure-specific, sterile-packed implants and instrumentation systems cleared for lower extremity indications.

In August 2022, The Johnson & Johnson Medical Devices Companies announced that DePuy Synthes, The Orthopaedics Company of Johnson & Johnson, introduced the INHANCE(TM) Shoulder System. The company stated that the INHANCE Shoulder System is the first shoulder system to offer surgeons the ability to seamlessly transition from stemless to stemmed implants during surgical procedures.

In November 2020, DJO, LLC, a leading global provider of medical technologies to get and keep people moving, announced that it has completed the acquisition of total ankle and finger arthroplasty product lines from international medical technology company Stryker.

In November 2020, Stryker, one of the world's leading medical technology companies, announced that it has completed the previously announced acquisition of Wright Medical Group N.V., a global medical device company focused on extremities and biologics.

Key Takeaways from the Orthopedic Digit Implants Market Report Study

• Market size analysis for current orthopedic digit implants market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the orthopedic digit implants market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global orthopedic digit implants market.
• Various opportunities available for the other competitor in the orthopedic digit implants market space.
• What are the top performing segments in 2023? How these segments will perform in 2030.
• Which is the top-performing regions and countries in the current orthopedic digit implants market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for orthopedic digit implants market growth in the coming future?

Target Audience who can be benefited from this Orthopedic Digit Implants Market Report Study

• Orthopedic digit implants products providers
• Research organizations and consulting companies
• Orthopedic digit implants-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in orthopedic digit implants
• Various End-users who want to know more about the orthopedic digit implants market and latest technological developments in the orthopedic digit implants market.

Frequently Asked Questions for Orthopedic Digit Implants Market:

1. What are Orthopedic Digit Implants?

An orthopedic digit implants, are the medical devices, that are used to replace damaged or injured small bone or join segments such as toe, elbow, ankle, knee, and others. The orthopedic digits are biocompatible and made up of titanium or stainless steel, and they function as artificial bones.

2. What is the market for Global Orthopedic Digit Implants?

Global orthopedic digit implants market was valued at USD 92.34 Million in 2023, growing at a CAGR of 6.50% during the forecast period from 2024 to 2030 to reach USD 134.53 Million by 2030.

3. What are the drivers for the Global Orthopedic Digit Implants Market?

The orthopedic digit implants market is witnessing a positive market growth owing to the increasing geriatric population worldwide and rising prevalence of rheumatoid arthritis. Additionally, the increasing number of orthopedic conditions will propel the market growth of orthopaedic digit implants. Further, the rising demand for minimally invasive operations to treat orthopedic disease across the world are anticipated to bolster the market.

4. Who are the key players operating in the Global Orthopedic Digit Implants Market?

Some of the key market players operating in the orthopedic digit implants market include Acumed LLC, Integra LifeSciences Corporation, Smith & Nephew, Johnson & Johnson, Stryker, Arthrex, Inc., VILEX, LLC, Merete GmbH, Anika Therapeutics, Inc., Advin Health Care, Bond Well Ortho Products., Zimmer Biomet., Teijin Nakashima Medical Co., Ltd., Safe Orthopaedics, ArthroCare Corporation, and others.

5. Which region has the highest share in Orthopedic Digit Implants Market?

North America is expected to hold the highest share in the revenue in the orthopedic digit implants market during the forecast period. Increasing geriatric population in the region and rising prevalence of rheumatoid arthritis will increase the demand for orthopedic digit implants in North America, leading to a rise in the overall orthopedic digit implants market growth in this region.