Orthopedic Implants Market Size, Growth and Share Analysis By Biomaterial (Metallic, Polymer, Ceramic), Product Type (Spinal Implants, Reconstructive Joint Implants, Orthobiologics), End-User (Hospitals, Orthopedic Centers and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa)
Orthopedic Implants Market - Overview
Intensifying number of cases related to orthopedic ailments globally has given way to an increase in the use of orthopedic implants. Market reports associated with the healthcare sector made accessible by Market Research Future along with published reports on other sectors have been lately put out along with a report on this industry. The market for orthopedic implants is anticipated to develop at a CAGR of 6.8 percent in the duration of the forecast period.
The global population is displaying an increased incidence rate of orthopedic injuries and ailments which require medical intervention. This growth is chiefly attributed to the rise of the aging population as well as the increased level of sedentary lifestyle which has given way to orthopedic ailments. The market growth is sustained due to the developments being observed in the research and development processes being initiated in the sector. Furthermore, factors such as widespread applications of orthopedic implants to treat orthopedic diseases and musculoskeletal diseases are expected to supplement the market growth in the forecast period additionally.
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The market for orthopedic implants is segmented on the basis of product type, procedure, application, biomaterial, device type, and end-user. By product type, the market segments comprise of dental implants, spinal implants, trauma and craniomaxillofacial implants, orthobiologics, reconstructive joint implants, and others. By procedure, the segmentation of the market comprises of minimally invasive surgery (MIS), open surgery, and others. By biomaterial, the market segment comprises of ceramic biomaterials, polymer biomaterials, metallic biomaterials, and natural biomaterials. On the basis of the device type, the market consists of external fixation devices and internal fixation devices. The external fixation devices are additionally segmented into orthopedic screws, orthopedic rods/wires, fixation pins, orthopedic plates, and orthopedic nails. The application basis of segmentation of the market comprises of hip replacement, spine fracture, shoulder replacement, neck fracture and others. The end user basis of segmentation of the market comprises of orthopedic clinics, hospitals, home cares, and others.
Detailed Regional Analysis
The regional analysis of the orthopedic implants market comprises of regions such as America, Asia Pacific, Europe, and the Middle East & Africa. The Americas region controls the market significantly through the forecast period. The control of this region can majorly be attributed to the rising geriatric population count thus increasing the number of patients being diagnosed with osteoporosis and osteoarthritis. The North American region is dominating the orthopedic implants market with a revenue share of 53.4 percent in 2015. It was noticed that Total Joint Arthroplasty (TJA) had garnered a great deal of attention in the US owing to the rising cost and growing demand. Additionally, the gradual transition towards minimally invasive procedures is anticipated to boost the market’s growth in the American region. The European region is the next major market due to the rise in the geriatric population and the growing demand for orthopedic implants and devices for the treatment of spinal disorders. This progress in the number of patients suffering from bone-related issues will make a positive market opening for the sale of orthopedic implants in the orthopedic implants market in the European region. The Asia Pacific region is a developing market in the market due to the rising patient awareness levels connected to the commercial availability of orthopedic implants, thriving medical tourism, and the continually improving healthcare infrastructure. Brazil, China, and India are expected to list the fastest growth over the forecast period. The Asia Pacific is expected to demonstrate significant growth in the forecast period.
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The increased level of emphasis on the variety of products is increasing the number of customers in the market substantially. The critical success factors in the market are easily achieved in the market leading to an elevated pace of development in the forecast period. The successful integration of supply chain management is steadily increasing the development of the market. The market attractiveness and competitors’ dynamics are noticeably improved by the strategies that are being utilized by market players. The market is considerably buoyed by the developments that are occuring in the market. The innovation in products and services of the markets will alter the course of development of the market substantially. The long run viability of the market is highly dependent on the techniques and the strategic roadmaps that are engaged by market players.
Globus Medical, Inc. (US), NuVasive, Inc. (US), Smith & Nephew plc. (UK), Depuy Synthes Inc. (Johnson & Johnson) (US), Arthrocare Corporation (US), Stryker Corporation (US), Integra LifeSciences Holdings Corporation (US), The Orthopedic Implant Company (US), Zimmer Biomet Holdings, Inc. (US), Medtronic, plc (Ireland), BioTek Instruments, Inc. (US), Wright Medical Group N.V. (Netherlands), Aesculap Implant Systems (US), Conmed Corporation (US), and others are the major companies functioning in the market.
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