The orthopedic Implants Market to be valued at $ 74.90 Billion by 2030; expected to witness a CAGR of 5.53%: Quintile Insights

Leicester UK, August 2022 - According to Quintile Insights, The global orthopedic implant market was valued at USD 46.43 billion in 2021 and it is predicted to rise at a compound annual growth rate (CAGR) of 5.53 % from 2022 to 2030. The primary variables most likely to influence the market growth rate during the projection period are an increase in osteoporosis-related fractures, a rise in senior patient populations around the world, and an increase in this type of implant surgery. An estimated one in two Americans over 50 are predicted to be at risk of developing hip osteoporosis, mostly because of the aging of the population and the incidence of osteoporosis, according to research by the National Center for Biotechnology Information (NCBI) published in 2020. In the upcoming years, the prevalence of osteoporosis is projected to increase the demand for goods.

"Increasing Geriatric Population Globally Fuels the Market"

The technological revolution occurred not just in cities, but also in rural regions. Due to its increased accessibility across the globe, whether in rural or metropolitan regions, there has been a noteworthy shift in e-commerce demand. It provides increased customer convenience since consumers can quickly pick and purchase items of their choosing using apps and websites, and things will be delivered to their homes using the home delivery option.

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The competition among the players is based on numerous parameters including quality, innovation, product offerings, price, and, corporate reputation.
Recent Developments:

o In May 2021, 4WEB Medical announced the Lumbar Spine Plating Solution (LSTS-PS) launch.

o In January 2021, goeasy Ltd., a manufacturer of orthopedic implants and instruments for joint replacement surgery, announced that the company had signed an agency agreement with PeekMed, a software technology company developing powerful 3D pre-operative digital planning tools.

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SEGMENT OUTLOOK:

The global orthopedic implants market is segmented based on type and end-users.

By Product: Based on product, the orthopedic implants market is segmented into joint reconstruction spinal implants, trauma implants, dental implants, orthobiologics, and others. The joint reconstruction segment was the one with the greatest market share among them in 2021, and it is anticipated that it would expand at a very high CAGR from 2022 to 2030. The knee, hip, and extremities are subsegments of the joint reconstruction segment.

By End-user: The orthopedic implants market, according to end-user, is segmented into hospitals, orthopedic clinics, ambulatory surgical centers, and others. Hospital inpatient admissions for orthopedic procedures, such as knee and hip replacement surgeries, have gradually increased. The use of cutting-edge technologies by hospitals, including robotic surgery, and the acceptable payment policies provided by these institutions are the main causes of the increase.

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REGIONAL OUTLOOK:

Based on geography, the orthopedic implants market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

In 2021, North America's market share was valued at USD 20.91 billion. The number of procedures conducted has increased as a result of an increase in the number of patients with osteoarthritis and senior populations in the area. Furthermore, one of the factors contributing to North America's dominance in 2021 is the market players' ongoing focus on meeting demand in the United States and Canada. Data from the Osteoarthritis Research Society International (ORSI) from 2018 indicate that the overall prevalence of osteoarthritis (OS) in North America was around 4.15%.

The market in the Asia Pacific is anticipated to experience a higher CAGR between 2022 and 2030. The number of people receiving treatment is rising due to better healthcare and hospital facilities and reimbursement systems. Additionally, the implementation of technologically sophisticated systems by hospitals in these nations will draw more patients for hip and knee replacement surgery.
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Regional Insights: Revenue in USD Million (2017 - 2030)

• North America
o U.S.
o Canada

• Europe
o U.K.
o Germany
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India
o Australia
o South Korea

• Latin America
o Brazil
o Mexico
o Argentina
o Colombia

• Middle East & Africa
o Saudi Arabia
o UAE
o South Africa

The following are some of the major market players operating across the globe:

o Zimmer Biomet (Indiana, U.S.)
o Medtronic (Dublin, Ireland)
o DePuy Synthes Companies (Johnson & Johnson
Services, Inc.) (Raynham, MA, U.S.)
o Smith+Nephew (London, U.K.)
o Stryker (Michigan, U.S.)
o ArthroCare Corporation (Texas, U.S.)
o BioTek Instruments, Inc. (Vermont, U.S.)
o CONMED Corporation (New York, U.S.)
o Integra LifeSciences Corporation (Massachusetts,
U.S.)

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Contact: Esha Bhatt
Email: sales@quintileinsights.com

Address: Floor 2, Watermead Business Park,
Rayns Way, Leicester LE7 1AD, United Kingdom
+44 637 456 2342, +1 626 560 6898

Website: https://quintileinsights.com/

Quintile Insights is a data-driven market research & strategic consulting firm serving accurate, actionable, and insightful reports to our clients globally for over a decade. To date, we have published over 5000+ market studies, covering almost 15+ domain expertise, and have helped over 4000+ major clients, including Fortune 500 companies and university clients base, along with the leading financial institutions, and world-renowned universities with persistent market intelligence support.

Our robust research methodology, a huge team of expert analysts, strong industry focus, in-depth analysis, refined forecasting models, and fact-based market intelligence has efficiently helped our clients to gain a competitive edge with high-quality market insights. Quintile Insights is proud of its capability to analyze the problems, recognize the objectives, and develop solutions that assist clients in making better decisions concerning the market.

Also, follow us on Linkedin, Facebook, and Twitter to get updates on our latest published reports and articles, which help you to know more about the various verticals, where we have tenured industry experts in almost 14 major domains Healthcare, Medical Devices, Biotechnology, Pharmaceuticals, Chemicals and Materials, Packaging, Consumer Goods, Consumer Electronics, Food and Beverage, Semiconductors, and Automation, and ICT industries.

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