PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1159437
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1159437
Orthopedic Implants Market Forecasts to 2028 - Global Analysis By Product, Types, Biomaterial, Procedure, End User and By Geography
According to Stratistics MRC, the Global Orthopedic Implants Market is accounted for $51292.34 million in 2022 and is expected to reach $75690.09 million by 2028 growing at a CAGR of 6.7% during the forecast period. An orthopaedic implant is a medical device created to support a broken bone, replace a missing joint, or replace a missing bone. The titanium and stainless steel alloys used to make the medical implant are primarily used in its construction for strength, and the plastic covering applied to it serves as an artificial cartilage. These are generally utilised in minimally invasive procedures for the treatment of lumbar spinal stenosis and spinal trauma.
According to an article published by the Lancet in 2021, the incidence of new fractures was reported to be 178 million cases globally, along with a prevalence of 455 million cases of fracture.
Market Dynamics:
Driver:
Increase in Incidence Rate of Injuries
The key factor driving the market is the increase in orthopaedic operations. The need for orthopaedic implants is increasing as a result of more traumas, accidents, and injuries. Additionally, issues with bone density and bone health in middle age are fast increasing. All of these are pushing the orthopaedic market's expansion during the anticipated era. As a result of bad eating habits and nutritional deficiencies, the elderly population is growing. These illnesses affect millions of individuals or more. Demand for the market is also being driven by the expansion of biodegradable orthopaedic implants.
Restraint:
The cost of the procedure
One of the main market constraints is the procedure's price. One of the more complicated operations is removing or replacing a bone. The likelihood of bone re-growth is determined by the placement of suitable orthopaedic implants. Many patients are hesitant to consider orthopaedic implant surgery because of its high cost. As a result, the market's overall demand may decrease in the years to come. Additionally, orthopaedic implants are subject to severe government regulation. It is a disadvantage for the orthopaedic implants business to adhere to these standards. It causes a delay in the development and use of orthopaedic implants in several places. The implants market may even reduce the market's growth prospects.
Opportunity:
Adoption of Technologically Advanced Products
Numerous international manufacturers working to develop and produce revolutionary orthopaedic prosthetics goods have technical know-how and core skills. Both the orthopaedic biomaterials and implant markets, in developed and developing nations, are seeing strong demand for enhanced biomaterial-based implants with high strength and low wear. Technologies including computer-aided implant fixation, 3D bioprinting, variable axis screw systems, minimally invasive surgery (MIS), navigation technology, and custom implants have all seen rapid adoption.
Threat:
Declining impact on the market's demand trend
A significant obstacle on the market is the price of the goods. High-quality components are used to create the orthopaedic implants. The materials for orthopaedic implants include metal, polymer, and ceramic. Both the production cost and the final cost to the client are higher. It may have a declining impact on the market's demand trend. Numerous end users have less demand because of the expensive merchandise. Price has an impact on the market's profitability and potential for expansion. To reduce costs and make it more accessible, the major stakeholders are taking numerous actions.
COVID-19 Impact
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 procedures, logistical difficulties in carrying out clinical trials, supply chain difficulties, and decreased sales and marketing efforts. Important market participants indicated a fall in revenues. For instance, Stryker reported a 9.1% decrease in net revenue from 2018 to 2019. Since knee replacement is a less urgent treatment than hip replacement, the pandemic had a significant influence on sales.
The spine segment is expected to be the largest during the forecast period
The spine segment is estimated to have a lucrative growth due to the ageing of the population and the number of osteoarthritis patients. The knee, hip, and extremities are further divided into sub-segments for joint repair. The growth of the segment is predicted to be supported during the forecast period by the rising number of hip and knee operations worldwide. Increased sports-related injuries, upper extremity replacement procedures, and ankle fractures are all contributing factors to the segment's expansion.
The hospitals & ambulatory surgery centers segment is expected to have the highest CAGR during the forecast period
The hospitals & ambulatory surgery centers segment is anticipated to witness the fastest CAGR growth during the forecast period. The large hospitals that offer implantations are to blame for the segment's domination with their wide reimbursement practises. Additionally, efforts by manufacturers to introduce cutting-edge goods through collaborations with important hospitals and increased acceptance of cutting-edge implantation procedures such robot-assisted orthopaedic surgeries are predicted to fuel the segment's expansion.
Region with highest share:
North America is projected to hold the largest market share during the forecast period. Growth in the market is predicted to be fuelled by rising implantation rates and rising demand for orthopaedic operations. A prominent element influencing the market's growth in North America is the market players' reliance on inorganic growth tactics, such as partnerships and collaborations, to provide innovative implants to meet the increased need for patient-centric customization.
Region with highest CAGR:
Europe is projected to have the highest CAGR over the forecast period, owing to to the rising number of patients with osteoarthritis and other bone problems as well as tactical moves made by major industry players, like mergers and acquisitions, in the area. The segment's expansion is also anticipated to be aided by the increasing use of technologically advanced items in the market, product type diversification, and regulatory approvals for these products.
Key players in the market
Some of the key players profiled in the Orthopedic Implants Market include Zimmer Biomet Holdings, Inc., Medtronic Plc, NuVasive, Inc., CONMED Corporation., Johnson & Johnson (DePuy Synthes), Stryker Corporation, Smith and Nephew Plc., Arthrex, Inc., DJO Finance LLC, B. Braun Melsungen AG, DePuy Synthes, MicroPort Scientific Corporation
Key Developments:
In March 2022, Zimmer Biomet announced the launch of WalkAI. The Artificial Intelligence (AI) model identifies patients predicted to have a lower walking speed post hip replacements. The WalkAI is further integrated into the company's ZBEdge Connected Intelligence Suite, providing it a competitive edge in the bone implants market.
In January 2022, Smith & Nephew announced the acquisition of Engage Surgical. The investment involves procurement of Engage's cementless partial knee system. The newly acquired implant is compatible with Smith & Nephew's proprietary CORI robotic surgical system.
Products Covered:
- Trauma
- Orthobiologics
- Reconstruction Joint Replacements
- Spinal Implants
- Dental Implants
Types Covered:
- Spine
- Hip
- Knee
- Dental
- Ankle
- Wrist & Shoulder
- Other Types
Biomaterials Covered:
- Ceramic Biomaterials
- Metallic Biomaterials
- Polymers Biomaterials
- Other Biomaterials
Procedures Covered:
- Minimally Invasive Surgery (MIS)
- Open Surgery
- Other Procedures
End Users Covered:
- Hospitals & Ambulatory Surgery Centers
- Orthopedic Clinics
- Home Cares
- Other End Users
Regions Covered:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
- Company Profiling
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
- 2.1 Abstract
- 2.2 Stake Holders
- 2.3 Research Scope
- 2.4 Research Methodology
- 2.4.1 Data Mining
- 2.4.2 Data Analysis
- 2.4.3 Data Validation
- 2.4.4 Research Approach
- 2.5 Research Sources
- 2.5.1 Primary Research Sources
- 2.5.2 Secondary Research Sources
- 2.5.3 Assumptions
3 Market Trend Analysis
- 3.1 Introduction
- 3.2 Drivers
- 3.3 Restraints
- 3.4 Opportunities
- 3.5 Threats
- 3.6 Product Analysis
- 3.7 End User Analysis
- 3.8 Emerging Markets
- 3.9 Impact of Covid-19
4 Porters Five Force Analysis
- 4.1 Bargaining power of suppliers
- 4.2 Bargaining power of buyers
- 4.3 Threat of substitutes
- 4.4 Threat of new entrants
- 4.5 Competitive rivalry
5 Global Orthopedic Implants Market, By Product
- 5.1 Introduction
- 5.2 Trauma
- 5.3 Orthobiologics
- 5.3.1 Demineralized Bone Matrix (DBM)
- 5.3.2 Viscosupplementation Products
- 5.3.3 Bone Morphogenetic Protein (BMP)
- 5.3.4 Synthetic Bone Substitutes
- 5.3.5 Allograft
- 5.3.6 Other Orthobiologics
- 5.4 Reconstruction Joint Replacements
- 5.4.1 Knee Replacement Implants
- 5.4.2 Hip Replacement Implants
- 5.4.3 Extremities
- 5.4.3.1 Upper Extremity Reconstruction
- 5.4.3.1.1 Elbow
- 5.4.3.1.2 Shoulder
- 5.4.3.1.3 Hand Wrist
- 5.4.3.2 Lower Extremity Reconstruction
- 5.4.3.2.1 Upper
- 5.4.3.2.2 Lower
- 5.5 Spinal Implants
- 5.5.1 Spinal Fusion Implants
- 5.5.1.1 Thoracolumbar Devices
- 5.5.1.2 Cervical Fixation Devices
- 5.5.1.3 Interbody Fusion Devices
- 5.5.2 Vertebral Compression Fracture (VCF) Devices
- 5.5.2.1 Vertebroplasty Devices
- 5.5.2.2 Balloon Kyphoplasty Devices
- 5.5.3 Motion Preservation Devices/Non-Fusion Devices
- 5.5.3.1 Nuclear Disc Prostheses
- 5.5.3.2 Annulus Repair Devices
- 5.5.3.3 Dynamic Stabilization Devices
- 5.5.3.4 Artificial Disc Replacement Devices
- 5.5.1 Spinal Fusion Implants
- 5.6 Dental Implants
- 5.6.1 Root Form Dental Implants
- 5.6.2 Plate Form Dental Implants
6 Global Orthopedic Implants Market, By Type
- 6.1 Introduction
- 6.2 Spine
- 6.3 Hip
- 6.4 Knee
- 6.5 Dental
- 6.6 Ankle
- 6.7 Wrist & Shoulder
- 6.8 Other Types
7 Global Orthopedic Implants Market, By Biomaterial
- 7.1 Introduction
- 7.2 Ceramic Biomaterials
- 7.3 Metallic Biomaterials
- 7.3.1 Stainless Steel
- 7.3.2 Cobalt Alloy
- 7.3.3 Titanium Alloy
- 7.3.4 Other Metallic Biomaterials
- 7.4 Polymers Biomaterials
- 7.5 Other Biomaterials
8 Global Orthopedic Implants Market, By Procedure
- 8.1 Introduction
- 8.2 Minimally Invasive Surgery (MIS)
- 8.3 Open Surgery
- 8.4 Other Procedures
9 Global Orthopedic Implants Market, By End User
- 9.1 Introduction
- 9.2 Hospitals & Ambulatory Surgery Centers
- 9.3 Orthopedic Clinics
- 9.4 Home Cares
- 9.5 Other End Users
10 Global Orthopedic Implants Market, By Geography
- 10.1 Introduction
- 10.2 North America
- 10.2.1 US
- 10.2.2 Canada
- 10.2.3 Mexico
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 Italy
- 10.3.4 France
- 10.3.5 Spain
- 10.3.6 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 Japan
- 10.4.2 China
- 10.4.3 India
- 10.4.4 Australia
- 10.4.5 New Zealand
- 10.4.6 South Korea
- 10.4.7 Rest of Asia Pacific
- 10.5 South America
- 10.5.1 Argentina
- 10.5.2 Brazil
- 10.5.3 Chile
- 10.5.4 Rest of South America
- 10.6 Middle East & Africa
- 10.6.1 Saudi Arabia
- 10.6.2 UAE
- 10.6.3 Qatar
- 10.6.4 South Africa
- 10.6.5 Rest of Middle East & Africa
11 Key Developments
- 11.1 Agreements, Partnerships, Collaborations and Joint Ventures
- 11.2 Acquisitions & Mergers
- 11.3 New Product Launch
- 11.4 Expansions
- 11.5 Other Key Strategies
12 Company Profiling
- 12.1 Zimmer Biomet Holdings, Inc.
- 12.2 Medtronic Plc
- 12.3 NuVasive, Inc.
- 12.4 CONMED Corporation.
- 12.5 Johnson & Johnson (DePuy Synthes)
- 12.6 Stryker Corporation
- 12.7 Smith and Nephew Plc.
- 12.8 Arthrex, Inc.
- 12.9 DJO Finance LLC
- 12.10 B. Braun Melsungen AG
- 12.11 DePuy Synthes
- 12.12 MicroPort Scientific Corporation
List of Tables
- Table 1 Global Orthopedic Implants Market Outlook, By Region (2020-2028) ($MN)
- Table 2 Global Orthopedic Implants Market Outlook, By Product (2020-2028) ($MN)
- Table 3 Global Orthopedic Implants Market Outlook, By Trauma (2020-2028) ($MN)
- Table 4 Global Orthopedic Implants Market Outlook, By Orthobiologics (2020-2028) ($MN)
- Table 5 Global Orthopedic Implants Market Outlook, By Demineralized Bone Matrix (DBM) (2020-2028) ($MN)
- Table 6 Global Orthopedic Implants Market Outlook, By Viscosupplementation Products (2020-2028) ($MN)
- Table 7 Global Orthopedic Implants Market Outlook, By Bone Morphogenetic Protein (BMP) (2020-2028) ($MN)
- Table 8 Global Orthopedic Implants Market Outlook, By Synthetic Bone Substitutes (2020-2028) ($MN)
- Table 9 Global Orthopedic Implants Market Outlook, By Allograft (2020-2028) ($MN)
- Table 10 Global Orthopedic Implants Market Outlook, By Other Orthobiologics (2020-2028) ($MN)
- Table 11 Global Orthopedic Implants Market Outlook, By Reconstruction Joint Replacements (2020-2028) ($MN)
- Table 12 Global Orthopedic Implants Market Outlook, By Knee Replacement Implants (2020-2028) ($MN)
- Table 13 Global Orthopedic Implants Market Outlook, By Hip Replacement Implants (2020-2028) ($MN)
- Table 14 Global Orthopedic Implants Market Outlook, By Extremities (2020-2028) ($MN)
- Table 15 Global Orthopedic Implants Market Outlook, By Upper Extremity Reconstruction (2020-2028) ($MN)
- Table 16 Global Orthopedic Implants Market Outlook, By Elbow (2020-2028) ($MN)
- Table 17 Global Orthopedic Implants Market Outlook, By Shoulder (2020-2028) ($MN)
- Table 18 Global Orthopedic Implants Market Outlook, By Hand Wrist (2020-2028) ($MN)
- Table 19 Global Orthopedic Implants Market Outlook, By Lower Extremity Reconstruction (2020-2028) ($MN)
- Table 20 Global Orthopedic Implants Market Outlook, By Upper (2020-2028) ($MN)
- Table 21 Global Orthopedic Implants Market Outlook, By Lower (2020-2028) ($MN)
- Table 22 Global Orthopedic Implants Market Outlook, By Spinal Implants (2020-2028) ($MN)
- Table 23 Global Orthopedic Implants Market Outlook, By Spinal Fusion Implants (2020-2028) ($MN)
- Table 24 Global Orthopedic Implants Market Outlook, By Thoracolumbar Devices (2020-2028) ($MN)
- Table 25 Global Orthopedic Implants Market Outlook, By Cervical Fixation Devices (2020-2028) ($MN)
- Table 26 Global Orthopedic Implants Market Outlook, By Interbody Fusion Devices (2020-2028) ($MN)
- Table 27 Global Orthopedic Implants Market Outlook, By Vertebral Compression Fracture (VCF) Devices (2020-2028) ($MN)
- Table 28 Global Orthopedic Implants Market Outlook, By Vertebroplasty Devices (2020-2028) ($MN)
- Table 29 Global Orthopedic Implants Market Outlook, By Balloon Kyphoplasty Devices (2020-2028) ($MN)
- Table 30 Global Orthopedic Implants Market Outlook, By Motion Preservation Devices/Non-Fusion Devices (2020-2028) ($MN)
- Table 31 Global Orthopedic Implants Market Outlook, By Nuclear Disc Prostheses (2020-2028) ($MN)
- Table 32 Global Orthopedic Implants Market Outlook, By Annulus Repair Devices (2020-2028) ($MN)
- Table 33 Global Orthopedic Implants Market Outlook, By Dynamic Stabilization Devices (2020-2028) ($MN)
- Table 34 Global Orthopedic Implants Market Outlook, By Artificial Disc Replacement Devices (2020-2028) ($MN)
- Table 35 Global Orthopedic Implants Market Outlook, By Dental Implants (2020-2028) ($MN)
- Table 36 Global Orthopedic Implants Market Outlook, By Root Form Dental Implants (2020-2028) ($MN)
- Table 37 Global Orthopedic Implants Market Outlook, By Plate Form Dental Implants (2020-2028) ($MN)
- Table 38 Global Orthopedic Implants Market Outlook, By Type (2020-2028) ($MN)
- Table 39 Global Orthopedic Implants Market Outlook, By Spine (2020-2028) ($MN)
- Table 40 Global Orthopedic Implants Market Outlook, By Hip (2020-2028) ($MN)
- Table 41 Global Orthopedic Implants Market Outlook, By Knee (2020-2028) ($MN)
- Table 42 Global Orthopedic Implants Market Outlook, By Dental (2020-2028) ($MN)
- Table 43 Global Orthopedic Implants Market Outlook, By Ankle (2020-2028) ($MN)
- Table 44 Global Orthopedic Implants Market Outlook, By Wrist & Shoulder (2020-2028) ($MN)
- Table 45 Global Orthopedic Implants Market Outlook, By Other Types (2020-2028) ($MN)
- Table 46 Global Orthopedic Implants Market Outlook, By Biomaterial (2020-2028) ($MN)
- Table 47 Global Orthopedic Implants Market Outlook, By Ceramic Biomaterials (2020-2028) ($MN)
- Table 48 Global Orthopedic Implants Market Outlook, By Metallic Biomaterials (2020-2028) ($MN)
- Table 49 Global Orthopedic Implants Market Outlook, By Stainless Steel (2020-2028) ($MN)
- Table 50 Global Orthopedic Implants Market Outlook, By Cobalt Alloy (2020-2028) ($MN)
- Table 51 Global Orthopedic Implants Market Outlook, By Titanium Alloy (2020-2028) ($MN)
- Table 52 Global Orthopedic Implants Market Outlook, By Other Metallic Biomaterials (2020-2028) ($MN)
- Table 53 Global Orthopedic Implants Market Outlook, By Polymers Biomaterials (2020-2028) ($MN)
- Table 54 Global Orthopedic Implants Market Outlook, By Other Biomaterials (2020-2028) ($MN)
- Table 55 Global Orthopedic Implants Market Outlook, By Procedure (2020-2028) ($MN)
- Table 56 Global Orthopedic Implants Market Outlook, By Minimally Invasive Surgery (MIS) (2020-2028) ($MN)
- Table 57 Global Orthopedic Implants Market Outlook, By Open Surgery (2020-2028) ($MN)
- Table 58 Global Orthopedic Implants Market Outlook, By Other Procedures (2020-2028) ($MN)
- Table 59 Global Orthopedic Implants Market Outlook, By End User (2020-2028) ($MN)
- Table 60 Global Orthopedic Implants Market Outlook, By Hospitals & Ambulatory Surgery Centers (2020-2028) ($MN)
- Table 61 Global Orthopedic Implants Market Outlook, By Orthopedic Clinics (2020-2028) ($MN)
- Table 62 Global Orthopedic Implants Market Outlook, By Home Cares (2020-2028) ($MN)
- Table 63 Global Orthopedic Implants Market Outlook, By Other End Users (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
