Global Orthopedic Implants Market 2023-2030

Global Orthopedic Implants Market 2023-2030

Global Orthopedic Implants Market Size, Share & Trends Analysis Report by Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, and Others), by Biomaterial (Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials, and Others), and by Type (Knee, Hip, Wrist and Shoulder, Dental, Spine, and Others) Forecast Period (2023-2030)

The global orthopedic implants market is anticipated to grow at a considerable CAGR of 5.0% during the forecast period. The growth of the market is attributed to factors such as an increasing aging population, rising prevalence of orthopedic conditions, advancements in medical technologies, and a growing number of orthopedic surgeries. Further, the demand for better quality of life and the adoption of minimally invasive surgical procedures are some of the factors anticipated to fuel the demand for Orthopedic Implants. Moreover, sports injuries are a significant driver of demand for orthopedic implants, leading to advancements in implant technology and the development of minimally invasive procedures. Joint replacements, especially knee and hip replacements, are common procedures influenced by sports injuries. The growing acceptance of implants, increased healthcare spending, and expanding sports culture in emerging markets further enhance the orthopedic implant market's growth.

Segmental Outlook

The global orthopedic implants market is segmented based on its Product Type, Biomaterial, and Type. Based on its Product Type, the market is segmented into Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, and Others. Based on Biomaterial, the market is categorized into Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials, and Others. Further, based on Type, the market is segmented into Knee, Hip, Wrist and Shoulder, Dental, Spine, and Others. Among the segments, Reconstructive Joint Replacements are anticipated to hold a prominent market share.

The Spinal Implants sub-segment is anticipated to register significant growth for the forecast period

Among the product type segment, the spinal implants sub-segment is anticipated to register significant growth for the forecast period. The growth of the segment is primarily attributed to factors such as an aging population and the increasing prevalence of spinal disorders and injuries. According to the United Spinal Association, approximately 17,700 Americans acquire a spinal cord injury every year. Roughly 78% are men, and their average age is 43. Most spinal cord injuries happen as a result of a vehicle accident (39.3%), followed closely by falls (31.8%), trailed by violence (13.2%), sports (8%), and medical/surgical procedures (4.3%). The market is also influenced by factors such as research and development and the launches of new products and solutions. Some of the key players offering spine orthopedic products include Medtronic, DePuy Synthes, Stryker Corp., Zimmer Biomet, and Globus Medical, among others.

Regional Outlook

The global Orthopedic Implants market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Among these, the Europe market is anticipated to cater to prominent growth over the forecast period. However, the Asia-Pacific region is projected to experience considerable growth in the Orthopedic Implants market.

The North American Region is Anticipated to Hold a Significant Share in the Global Orthopedic Implants Market

Among these regions, the North America region is anticipated to account for a significant share in the Orthopedic Implants market during the forecast period. The growth of the Orthopedic Implants market in the region is primarily driven by factors such as a high prevalence of orthopedic disorders, well-established healthcare infrastructure, and increasing adoption of advanced orthopedic implants. For instance, in August 2022, OSSIO, Inc. launched and commercially used OSSIOfiber® Suture Anchors in the US, a unique implant material stronger than cortical bone for fixation of suture to bone. The material allows for rapid bone in-growth and integration without adverse biological response, with various surgical applications available.

Market Players Outlook

The major companies serving the global orthopedic implants market include India Medtronic Pvt. Ltd., Medical Devices Business Services, Inc., Smith & Nephew plc, Stryker, and Zimmer Biomet, among others. The market players are considerably contributing to the market growth by adopting various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2022, Smith+Nephew announced the launch of its CORI Surgical System in Japan. This next-generation robotics system is designed for robotic-assisted surgery in the orthopedic market. The launch comes at a time when the demand for robotic-assisted surgery in Japan is expected to grow significantly. The CORI Surgical System expands the capabilities of Smith+Nephew's robotics platform and includes total hip arthroplasty. The system was approved by the FDA in 2020 and is the successor to the NAVIO platform.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global orthopedic implants market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.