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Orthopedic Implants Market Size, Share, Revenue & Growth Analysis 2025: Global Leaders Stryker, Medtronic, Smith and Nephew, CONMED

04-05-2019 11:05 AM CET | Health & Medicine

Press release from: Allied Market Research

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Orthopedic Implants Market

Orthopedic Implants Market

According to Allied Market Research the orthopedic implants market was valued at $45,901 million in 2017, and is projected to reach $66,636 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.

Orthopedic implant is a medical device surgically placed inside the 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 These implants are either permanently incorporated inside the human body or withdrawn after desired results.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 rise in geriatric population. In addition, technological innovations, such as robot-assisted surgical tools, acceptance for implantable medical devices, and widespread application of orthopedic implants to treat musculoskeletal, orthopedic diseases, & 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 emerging economies present lucrative opportunities for the market.

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On the basis of product type, the reconstructive joint replacements segment is estimated to garner largest share during the forecast period. This segment is expected to maintain its dominant position throughout the analysis period, owing to rise in prevalence of osteoporosis and osteoarthritis, and investment of key players in R&D of orthopedic implants. On the other side, the orthobiologics is the fastest growing segment during the forecast period owing to the rise in demand for advanced therapies, minimally invasive procedures, and surge in patient awareness toward use of orthobiologics.

According to type, the knee segment accounted for the highest share in 2017, and is anticipated to maintain this trend during the forecast period. However, spine is estimated to register the highest CAGR during the forecast period attributed to increase in geriatric population, rise in incidence of spinal disorders, and expansion in the indications for which spinal fusion surgery is performed.

By material type, the metallic biomaterials segment occupied the largest share in 2017, owing to cost-effectiveness of these materials. Metallic biomaterials provide efficacy of bone healing as compared to other materials. These are used to manufacture various orthopedic implants such as screws, plates, vertebral compression fracture (VCF) devices, and others.

However, other biomaterials are estimated to register the highest CAGR during the forecast period. This is due to the growing demand for these materials owing to their several advantages over synthetic biomaterials. These advantages include biocompatibility, no toxicity, and may also carry specific protein binding sites, and other biochemical signals that can help in the process of tissue healing or integration.

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Key Market Players:

• Johnson & Johnson (DePuy Synthes)
• Zimmer Biomet Holdings Inc.
• Stryker Corporation
• Medtronic Plc
• Smith and Nephew Plc.
• Wright Medical Group N.V.
• CONMED Corporation.
• Arthrex Inc.
• DJO Finance LLC
• Globus Medical Inc.

Key Findings of the Study:

• The orthobiologics segment is anticipated to grow at a highest rate during the forecast period.
• U.S. was the major shareholder in the North America orthopedic implants market, accounting for more than three-fourths share in 2017.
• The metallic segment occupied about 64.85% share of the total biomaterial market in 2017.
• China occupied about one-third share of the total Asia-Pacific orthopedic implants market in 2017.
• The knee segment accounted approximately one-fourth share of the orthopedic implants market in 2017.

In 2017, Asia-Pacific and LAMEA collectively accounted for more than one-fourth of the total orthopedic implants market and are expected to continue this trend due to increase in implants development, specifically in China, India, and the other developing countries. Factors such as rise in buying power with developing healthcare infrastructure, and increase in geriatric population, fuel the growth of the orthopedic implants market in the Asia-Pacific region.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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