Orthopedic Digit Implants Market Size, Share & Trends Analysis Report By Product (Metatarsal Joint Implants, Metacarpal Joint Implants), By Material (Titanium, Nitinol), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Orthopedic Digit Implants Market Size, Share & Trends Analysis Report By Product (Metatarsal Joint Implants, Metacarpal Joint Implants), By Material (Titanium, Nitinol), By End-use, By Region, And Segment Forecasts, 2024 - 2030

Orthopedic Digit Implants Market Growth & Trends

The global orthopedic digit implants market size is anticipated to reach USD 412.7 million by 2030 and is projected to grow at a CAGR of 6.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is driven by the growing cases of orthopedic diseases such as rheumatoid arthritis and osteoarthritis. According to CDC data published in June 2023, about 1 in 5 adults in the U.S., totaling around 53.2 million individuals, are affected by some form of arthritis. Among the various types of arthritis, osteoarthritis (OA) stands out as the most dominant. Growing geriatric population susceptible to osteoarthritis and increase in R&D activities for digit implants development are factors expected to drive market growth in the forecast period.

Growing demand for minimally invasive procedures will drive the demand for orthopedic digit implants, advancements in minimally invasive techniques for digit implant surgeries have made orthopedic procedures more feasible, further driving demand for these facilities. In addition, the presence of skilled healthcare professionals specializing in orthopedics coupled with the availability of state-of-the-art medical equipment will supplement segmental growth. For instance, in June 2023, Forma Medical launched of its ‘OptimalHT’ Minimally Invasive Surgery (MIS) hammertoe arthrodesis procedure with digital correction approach, with this launch company aimed to extend its product portfolio for advance patient care. Such initiatives undertaken by market players will foster market growth.

Increasing technological advancement such as advanced biomaterials with better biocompatibility and durability have improved the quality of implants These implants, are further equipped with digital technology, offer benefits such as real-time monitoring of patient health, precise intraoperative guidance, and improved post-operative care. In addition, advancements in medical imaging, such as MRI and CT scans, have facilitated the development of customized implants tailored to individual patient anatomy, further driving market growth. Moreover, the integration of robotics and artificial intelligence into orthopedic surgeries has enhanced surgical accuracy and outcomes, fostering the adoption of digit implants. Overall, the convergence of technological innovations and rising healthcare needs is serving as a key driver for market growth.

Some of the key players in the global market are Stryker, Zimmer Biomet, Smith+Nephew, DePuy Synthes, Arthrex Inc., Acumed LLC, Anika Therapeutics, Inc., VILEX, LLC, Paragon 28, Extremity Medical LLC. Players are adopting key strategic initiatives to expand their business footprint and grow their clientele. For instance, in February 2023, Tyber Medical LLC acquired ADSM-Synchro Medical, a French company that specializes in developing and distributing implants for surgical forefoot pathologies. The acquisition was a part of Tyber Medical LLC's strategy to strengthen its global presence.

Orthopedic Digit Implants Market Report Highlights

• Based on product, the metatarsal joint implants segment led the market with the largest revenue share of 47.7% in 2023. Metatarsal fractures are a common type of foot injury as metatarsals are more prone to be injured in aged people and people involved in sports activities
• Based on material, the titanium segment led the market with the largest revenue share of 59.1% in 2023. The market growth is driven by titanium being the preferred material used in implants as durability and compatibility with the human body. Further these implants are proven due to their superior biocompatibility and strength-to-weight ratio
• Based on end-use, the outpatient facilities segment held the market with the largest revenue share of 63.0% in 2023, this is attributable to rising adoption of ambulatory care, and being a convenient and easily accessible option for patients who require minor orthopedic procedures such as digit implants, saving hospitalization cost and gaining quicker recovery time.
• North America dominated the market with the revenue share of 48.5% in 2023, due to the presence of a large number of major market players, government initiatives to accelerate the research for arthritis, presence of large number of key players and launch of diverse range of products and procedures aimed at restoring stability and functionality.

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