Orthopedic Implants Market Analysis By 2023 - Arthrex, Inc., NuVasive, Inc., Globus Medical, Inc., Integra Lifesciences Holdings Corporation, Synthes Holding AG, Arthrocare Corporation, and Baxter International Inc.
Global Orthopedic Implants Market was valued at $47,261 million in 2016, and is expected to garner $74,796 million by 2023, registering a CAGR of 6.8% during the forecast period 2017 - 2023. Orthopedic implants are manufactured to replace or support a missing or damaged bone or joint. These implants are intended to treat the deformities, stabilize body posture, and restore the normal skeletal function. The orthopedic implants market has witnessed a shift from conventional surgical procedures to the use of modern fixation and prosthetic devices. The demand for orthopedic implants has increased significantly, owing to rise in geriatric population that increases the risk of osteoporosis, osteoarthritis, technological innovations in the orthopedic implants, and other musculoskeletal disorders.
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The global orthopedic implants market is segmented based on product, biomaterial, and geography. Based on product, it is classified into reconstructive joint replacements, spinal implants, dental implants, trauma & craniomaxillofacial, orthobiologics, and others. The reconstructive joint replacements market is further divided into knee, hip, and extremities. Spinal implants are further categorized into spinal fusion devices, non-fusion devices/motion preservation devices, and invasive spinal bone stimulators. Dental implants are further bifurcated into root form dental implants and plate form dental implants. Trauma & Craniomaxillofacial are further categorized into screws, plates, staples, and others. Orthobiologics are further classified into allografts, bone graft substitutes, and cell-based matrices. Based on biomaterials, it is categorized into metallic, ceramic, polymeric, and natural biomaterials. Among biomaterials, the metallic segment occupied dominant share in 2016, and is expected to maintain this trend during the forecast period, owing to their exclusive load bearing properties.
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to surpass the effect of restraints. Moreover, increase in R&D in orthopedic implants and the untapped emerging economies are expected to provide new market opportunities to orthopedic implants manufacturers in the near future.
Global Orthopedic Implants Market Key Product Segment
The metallic biomaterial segment accounted for a significant share in the global orthopedic implants market, and this trend is expected to continue during the forecast period.
LAMEA Orthopedic Implants Market
Rise in incidence of orthopedic disease and rapid adoption of orthopedic implants for its treatment drive the growth of the orthopedic implants market in LAMEA. However, the countries in Latin America have low gross income, thereby lowering expenditures on the development of new methods and devices for the treatment of orthopedic disease. Lack of healthcare facilities and increased need for treatment devices for orthopedic disease have increased the penetration of major players in the Middle East. Nevertheless, the market growth is driven by improvement in healthcare infrastructure and rise in disposable income. Middle East is expected to exhibit the highest CAGR of 8.3% from 2017 to 2023.
The key players operating in the global orthopedic implants market include Zimmer Biomet Holdings, Inc., Medtronic plc., Stryker Corporation, Johnson & Johnson (DePuy Synthes), The Orthopedic Implant Company, Smith and Nephew plc., Wright Medical Group N.V., BioTek Instruments, Inc., Aesculap Implant Systems, and Conmed Corporation.
The other prominent players in the value chain include Arthrex, Inc., NuVasive, Inc., Globus Medical, Inc., Integra Lifesciences Holdings Corporation, Synthes Holding AG, Arthrocare Corporation, and Baxter International Inc.
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Key Benefits for Stakeholders
The study provides an in-depth analysis of the global orthopedic implants market, with current trends and future estimations to elucidate the imminent investment pockets.
A quantitative analysis from 2016 to 2023 to enable the stakeholders to capitalize on the prevailing market opportunities is discussed.
Key market players are profiled and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market.
Porters Five Forces model is expected to interpret the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Orthopedic Implants Market Key Segments:
Reconstructive Joint Replacements
• Knee Replacement Implants
• Hip Replacement Implants
Upper Extremity Reconstruction
• Shoulder Implants
• Elbow Implants
• Hand Wrist Implants
Lower Extremity Reconstruction
• Foot Implants
• Ankle Implants
• Spinal Fusion Devices
• Thoracolumbar Devices
• Cervical Fixation Devices
• Interbody Fusion Devices
Non-fusion Devices/Motion Preservation Devices
• Balloon Kyphoplasty Devices
• Vertebroplasty Devices
Invasive Spinal Bone Stimulators
• Dental Implants
• Root Form Dental Implants
• Plate Form Dental Implants
Trauma & Craniomaxillofacial
• Machined Allografts
• Demineralised Bone Matrix
Bone Graft Substitutes
• Bone Morphogenic Proteins (BMP)
• Synthetic Bone Grafts
Cell based Matrices
• Metallic Biomaterials
• Polymeric Biomaterials
• Ceramic Biomaterials
• Natural Biomaterials
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