Orthopedic Implants Market By Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, Others) , By Biomaterial (Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials, Others) By Type (Knee, Hip, Wrist and Shoulder, Dental, Spine, Ankle, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
The global orthopedic implants market was valued at $49.4 Billion in 2023, and is projected to reach $76.4 Billion by 2033, growing at a CAGR of 4.4% from 2024 to 2033.
Orthopedic implant encompasses medical device designed to replace or support damaged or diseased bones and joints. This implant is commonly used in orthopedic surgeries to restore mobility, relieve pain, and improve the quality of life for patients suffering from conditions such as arthritis, fractures, or sports injuries. Orthopedic implant ranges from screws and plates for fracture fixation to joint replacements such as hip and knee prostheses. This implant is meticulously engineered to mimic the function and structure of natural bones and joints, facilitating better patient outcomes and enhancing overall orthopedic care.
The growth of the global orthopedic implant market is driven by rise in the number of orthopedic disorders such as impairments in the muscles, bones, joints, and adjacent connective tissues, leading to temporary or lifelong limitations in functioning and participation. Moreover, trend of technological advancements has led to significant improvements in the design and materials used in orthopedic implants, which have made them more effective and durable. Companies are adopting the most advanced surgical cutting-edge robotic technology that has been developed to support surgeons with personalized preplanning and obtain precise results for knee replacement surgeries.
However, high cost of orthopedic implant and lack of reimbursement policies by insurance companies make them less accessible to patients which hamper the market growth. On the other hand, rise in regulatory approvals for orthopedic implants for various new applications is expected to create lucrative opportunities for the growth of the orthopedic implants market. For instance, in February 2021, the U.S. Food and Drug Administration approved the Patient Specific Talus Spacer 3D-printed talus implant for humanitarian use. The Patient Specific Talus Spacer is the first in the world and first-of-its-kind implant to replace the talus—the bone in the ankle joint that connects the leg and the foot—for the treatment of avascular necrosis (AVN) of the ankle joint.
Segmentation OverviewThe orthopedic implants market is segmented into product type, biomaterial, type, and region. Depending on product type, the market is classified into reconstructive joint replacements, spinal implants, dental implants, trauma, orthobiologics, and others. According to biomaterial, it is categorized into metallic biomaterials, ceramic biomaterials, polymeric biomaterials, and others. As per the type, the market is divided into knee, hip, wrist and shoulder, dental, spine, ankle, and others. Region wise, it is analyzed across Latin America, Asia-Pacific, North America, Europe, and Middle East & Africa.
Key FindingsBy product type, the reconstructive joint replacements segment held the highest market share in 2023.
Depending on biomaterial, the metallic biomaterials segment accounted for the largest market share in 2023.
According to the type, the knee segment acquired the maximum share in the market in 2023.
Region wise, North America dominated the orthopedic implant market 2023.
Competitive ScenarioThe major players operating in the orthopedic implants market include Arthrex, Inc., Colfax Corporation (DJO, LLC) , CONMED CORPORATION, GLOBUS MEDICAL INC., Johnson & Johnson (DEPUY SYNTHES) , Medtronic Plc, NuVasive Inc., Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet Holdings Inc. These players have adopted several market tactics, including mergers & acquisitions, partnerships, collaborations, product innovation & development, marketing, and advertising to maintain their strong position in the competitive market.
Key Market SegmentsBy Product TypeReconstructive Joint Replacements
Knee Replacement Implants
Hip Replacement Implants
Extremities
Upper Extremity Reconstruction
Lower Extremity Reconstruction
Spinal Implants
Spinal fusion implants
Thoracolumbar devices
Cervical fixation devices
Interbody fusion devices
Invasive Spinal bone stimulators
Vertebral Compression Fracture (VCF) Devices
Balloon Kyphoplasty Devices
Vertebroplasty Devices
Motion Preservation Devices/Non-Fusion Devices
Dynamic Stabilization Devices
Artificial Disc Replacement Devices
Annulus Repair Devices
Nuclear Disc Prostheses
Dental Implants
Root Form Dental Implants
Plate Form Dental Implants
Trauma
Orthobiologics
Demineralized Bone Matrix (DBM)
Allograft
Bone Morphogenetic Protein (BMP)
Viscosupplementation Products
Synthetic Bone Substitutes
Others
Others
By BiomaterialMetallic Biomaterials
Stainless steel
Titanium Alloy
Cobalt Alloy
Others
Ceramic Biomaterials
Polymeric Biomaterials
Others
By TypeKnee
Hip
Wrist and Shoulder
Dental
Spine
Ankle
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Globus Medical, Inc.
Johnson & Johnson,
Medtronic plc
Zimmer Biomet Holdings Inc.
NuVasive Inc.
CONMED Corporation
Arthrex, Inc.
Smith & Nephew plc
Stryker Corporation
Colfax Corporation