Fact.MR – A Market Research and Competitive Intelligence Provider: By the end of 2022, the global orthopedic implants market is estimated to be worth US$ 468 million, growing at a CAGR of 6.7% over the forecast period of 2022-2032.
Hybrid Orthopedic Implants to gain Significant Traction in the Global Orthopedic Implants Market
The latest Fact.MR market study on the global orthopedic implants market provides insights into key developments registered across segments in terms of type, fixation type, end user & region. The study also highlights organic and inorganic growth strategies adopted by key players to gain a competitive edge in the orthopedic implants market.
Fact.MR – A Market Research and Competitive Intelligence Provider: By the end of 2022, the global orthopedic implants market is estimated to be worth US$ 468 million, growing at a CAGR of 6.7% over the forecast period of 2022-2032. The market is estimated to reach US$ 900 million by the conclusion of the assessment period.
Governments and major industry players are putting up efforts to raise knowledge about treatment choices for bone injuries, such as orthopedic implants, which can be used as a relief from arthrodesis. These measures are likely to increase hospital admissions, which will support market growth.
The rising prevalence of co-morbidities such as obesity and diabetes has increased the incidence of degenerative joint disease, particularly among the elderly. As more young people participate in sports and fitness activities, the incidence of accidents related to these activities is on the rise. This has increased demand for Orthopedic Implants around the world.
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Furthermore, factors driving the market’s growth include an increase in the prevalence of orthopedic injuries or diseases such as arthritis and osteoarthritis, as well as the rapid rise in the senior population, which is more susceptible to orthopedic disorders. Furthermore, technology advancements such as robot-assisted surgical instruments, adoption of implanted medical devices, and widespread use of Orthopedic Implants to treat musculoskeletal, orthopedic illnesses, and injuries are fueling market expansion.
Recognizing the growing need, orthopedic implant manufacturers have developed new technologies to meet it, while also increasing their product penetration and market reach. Customized orthopedic implants made using 3D printing technology are effective at lowering surgical costs and time while also providing long-term stability.
The North American region is expected to have the largest revenue, thanks to the FDA’s increased drive for innovation, major pharmaceutical companies’ increased spending in research and development, and favorable winds for a more appropriate reimbursement model.
| Report Attribute | Values |
| Anticipated Market Size (2022) | US$ 468 Mn |
| Expected Market Value in 2032 | US$ 900 Mn |
| Value CAGR (2022-2032) | 6.7% |
| Market Share of Top 5 Companies | 65% |
Key Takeaways:
- By 2032, the global orthopedic implants market is expected to be worth twice as much as it was in 2022.
- The demand for orthopedic implants for knee repair is expected to be significant, with a CAGR of 6.3%.
- From 2022 to 2032, hybrid orthopedic implants are expected to see a significant increase.
- North America is predicted to grow at a CAGR of 4%, reaching US$ 370 million by 2032.
- China is expected to be an opportunistic growth region, with a CAGR of 6%.
- By the end of 2022, the global orthopedic implants market is expected to be worth $468 million.
Growth Drivers:
- Rising incidence of orthopedic disorders and bone deformities has resulted in the growth of orthopedic implants market.
- Rising geriatric population and increasing cases of obesity and diabetes to propel the demand for orthopedic implants.
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Competitive Landscape
To expand their market paradigm, prominent firms are using creative measures such as ground-breaking marketing tactics, technical developments, mergers, and acquisitions.
- In December 2021, DePuy Synthes, a Johnson & Johnson business, announced the acquisition of OrthoSpin through its Synthes GmbH partner. OrthoSpin is an Israeli company that develops a robot-assisted external fixation method for orthopaedic procedures.
- In January 20222, Stryker announced a definitive merger agreement to buy all of Vocera Communications, Inc.'s issued and outstanding shares of common stock for $79.25 per share, or a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion (including convertible notes).
Key Companies Profiled by Fact.MR –
- Smith & Nehpew Plc.
- Zimmer Biomet Holdings
- B. Braun Melsungen AG
- Stryker Corporation
- DePuy Synthes
- Exatech Inc.
- MicroPort Scientific Corporation
- CeramTec
- ConforMIS
- Lima Corporate S.p.A
More Valuable Insights on Orthopedic Implants Market
Fact.MR provides an unbiased analysis of the orthopedic implants market, presenting forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global orthopedic implants market with a detailed segmentation on the basis of:
- By Type
- Orthopedic Implants for Hip Reconstruction
- Total Hip Reconstruction
- Partial Hip Reconstruction
- Revision Implants
- Orthopedic Implants for Knee Reconstruction
- Total Knee Reconstruction
- Partial Knee Reconstruction
- Revision Implants
- Orthopedic Implants for Shoulder Implants
- Anatomical Shoulder Prosthetics
- Reverse Shoulder Prosthetics
- Orthopedic Implants for Hip Reconstruction
- By Fixation Type
- Cement Orthopedic Implants
- Cementless Orthopedic Implants
- Hybrid Orthopedic Implants
- By End User
- Orthopedic Implants for Hospitals
- Orthopedic Implants for Orthopedic Clinics
- Orthopedic Implants for Ambulatory Surgical Centers
Key Questions Covered in the Orthopedic Implants Market Report
How much is the orthopedic implants market expected to be worth in 2022?
At what CAGR did orthopedic implants sales flourish during the past 5 years?
What is the expected value CAGR for the market for orthopedic implants from 2022-2032?
At what value will orthopedic implant sales conclude in the year 2032?
What growth prospects abound for the orthopedic implants industry across North America?
Explore Fact.MR’s Coverage on the Healthcare Domain –
Orthopedic Braces and Support System Market Trends - An increase in demand for orthopedic braces and support systems has resulted from the rising prevalence of arthritis, spinal deformities, sciatic nerve, impaired muscle, paralysis, fracture damage, and stroke.
Orthopedic Devices Market Analysis - In recent years, there has been a surge in the use of technologically advanced orthopedic devices around the world. To attract more customers, a big number of global manufacturers with technological knowledge and core competencies are consistently working to develop unique orthopedic products.
Orthopedic Repair Market Insights - Over the projected period, the rising prevalence and recurrence of diverticular disease is expected to be a prominent driver driving the orthopedic repair market. The orthopedic repair market is expected to be driven by patient-specific surgeries and implants.
Orthopedic Footwear Market Scope - The growth in the frequency of accidents, which is the leading cause of orthopedic injury, is driving the worldwide orthopedic footwear market. In addition, the market is expected to develop as the availability and variety of orthopedic footwear in various applications increases.
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