Orthopedic Implants Market Shows Promise for Huge Growth Over the Coming Years: Global Opportunity Analysis and Industry Forecast, 2017-2023
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Orthopedic implant is a medical device surgically placed inside a body to restore bone function by reinforcing or replacing a damaged structure. These implants are either permanently incorporated inside the human body or withdrawn after desired results. The growth in number of replacement surgeries, such as knee, hip, shoulder, and other (bone or joint) has propelled the demand for implants globally.
Factors that drive the growth of the global orthopedic implants market are rise in prevalence of orthopedic injuries or diseases and the rapid growth in aged population globally. In addition, technological innovations, such as robot-assisted surgical tools, acceptance for implantable medical devices, and widespread application of orthopedic implants to treat musculoskeletal diseases, orthopedic diseases, and injuries further supplement the market growth. However, high cost associated with procedures involving orthopedic implants for treatment and stringent government policies hamper the market growth. Furthermore, the untapped emerging economies present lucrative opportunities for the market.
The reconstructive joint replacement segment is expected to maintain its dominant position throughout the analysis period, owing to rise in incidence osteoporosis, and osteoarthritis, and investment of key players in R&D of orthopedic implants. In addition, many key players have undergone acquisitions to cater to the growth in demand for joint replacements. Knee replacement implants among the reconstructive joint replacements segment accounted for the highest share in 2016, and are anticipated to maintain this trend from 2017 to 2023.
The spinal fusion devices segment dominated the spinal implants market with more than three-fourths share in 2016. These devices are used for the treatment of spinal deformities, such as degenerative disc disease and spondylolisthesis. Increase in geriatric population, rise in incidence of spinal disorders, and expansion in the indications for which spinal fusion surgery is performed drive the market growth. The global motion preservation devices/non-fusion devices market segment is expected to grow at a CAGR of 9.5% from 2017 to 2023.
The orthobiologics segment is expected to grow at the highest CAGR throughout the analysis period, owing to the growth in demand for innovative products, increase in sport-related injuries, rise in incidence of chronic arthritis and road accidents, and the rapid surge in aged population globally.
In 2016, Asia-Pacific and LAMEA collectively accounted for one-sixth share of the total orthopedic implants market and are expected to continue this trend due to increase in orthopedic implants development, specifically in China, India, and the other developing economies. Rise in geriatric population is the main reason for growth of the orthopedic implants market in Asia-Pacific.
The key players operating in the global orthopedic implants market include
• Zimmer Biomet Holdings, Inc.,
• Medtronic plc.
• Stryker Corporation,
• Aesculap Implant Systems, Inc.,
• Johnson & Johnson (DePuy Synthes),
• The Orthopaedic Implant Company,
• Smith and Nephew plc.,
• Wright Medical Group N.V.,
• BioTek Instruments, Inc., 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.
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.
Table Of Content
Chapter: 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. RESEARCH METHODOLOGY
1.2.1. Secondary research
1.2.2. Primary research
1.2.3. Analyst tools and models
Chapter: 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
Chapter: 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.2.3. Market share analysis, 2016
3.3. PORTER’S FIVE FORCES ANALYSIS
3.3.1. Bargaining power of buyers
3.3.2. Bargaining power of suppliers
3.3.3. Threat of substitutes
3.3.4. Threat of new entrants
3.3.5. Competitive rivalry
3.4. CLINICAL TRIALS
3.5. MARKET DYNAMICS
220.127.116.11. Rise in incidence of orthopedic diseases coupled with growing ageing population
18.104.22.168. Technological advancements in the field of orthopedic implants
22.214.171.124. Global rise in acceptance of orthopedic implants
126.96.36.199. Improved healthcare facilities in developing countries
188.8.131.52. High cost of treatment associated with orthopedic implants procedures
184.108.40.206. Stringent approval process as these are highly specialized devices
220.127.116.11. Huge market opportunities in the developing countries
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