Orthopedic Implants Market to Grow at 4.5% CAGR by 2030
Growing prevalence of orthopedic injuries and rising geriatric population are the major factors driving orthopedic implants market growth globally.
The Orthopedic Implants Market is expected to grow at a CAGR of 4.5% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
Orthopedic implants are surgically placed into the patient’s body to replace or reinforce damaged bones or joints and restore their functions. It is also used to replace artificial surfaces in various body joints. There are various types of orthopedic implants, such as safety locking plates, pins, interlocking nails, cannulated screws and external fixators available for different purposes. For instance, safety locking plates and screws are used for the treatment of back pain. Moreover, increasing number of road accidents in developing countries due to lack of proper traffic management system and use of mobile phones while driving. This in turn is expected to fuel the growth of the orthopedic implants market. However, high cost of these implants and low reimbursement coverage are the factors restraining the market growth.
Based on product type, the market is categorized into reconstructive joint replacements, spinal implants, dental implants, trauma orthobiologics and others. Based on biomaterial, the market is segmented into metallic biomaterials, polymeric biomaterials, ceramic biomaterials and others. On the basis of type, the market is categorized into knee, hip, wrist & shoulder, dental, spine, ankle, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
Geographically, North America holds the major share of the orthopaedic implants market owing to increase in the number of osteoarthritis patients, technological innovations in the field of orthopedic implants and improved healthcare facilities. On the other hand, Asia Pacific is predicted to show rapid growth in terms of market size owing to rising awareness regarding orthopedic implants and development in healthcare infrastructure.
According to the report the major key players of orthopaedic market are Johnson & Johnson, Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc., DJO Finance LLC, and Globus Medical Inc.
Browse key industry insight from the report,“Orthopedic Implants Market by Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, and Others), by Biomaterial (Metallic, Ceramic, Polymeric, and Others) and by Type (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, and Others)- Global Opportunity Analysis and Industry Forecast 2020-2030.”
Key Insights from the Orthopedic Implants Market Report:
- Current emerging trends and opportunities are extensively analysed in orthopedic implants market report.
- The forecast of the orthopaedic implants market comes along with additional information associated with opportunities, restrains and key drivers in the market.
The report orthopaedic market- segmented by product type, biomaterial, type and geography.
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