Global Orthopedic Implants Market is estimated to grow at a 4.5% CAGR by 2027 - North America is expected to hold a Larger Market Share

An orthopedic implant is a manufactured medical device designed to replace a joint, bone, or cartilage due to damage or deformity such as from breaking a leg, losing a limb, or a congenital defect.

Technological Innovations and Rapid Developments in Orthopedics Fuels the Growth of Orthopedic Implants Market

Rapid innovations and developments such as surgical navigation to guide surgeons through the implantation, robotics-assisted orthopedic surgeries and AI-powered guidance software to assist surgical procedures are poised to drive the growth of the orthopedic implants market in the upcoming years.

For instance,
 In July 2022, Oxford Performance Materials, Inc (OPM) announced an agreement with Fuse Medical, Inc (Fuse) to develop new, world-class spinal, extremity, and sports medicine implant product lines utilizing OPM's patented OsteoFab PEKK technology.
 In April 2022, eCential Robotics entered into an agreement with Amplitude Surgical to bring together their technologies for knee robotic surgeries.

Ample Growth Opportunities Emerging in the Orthopedic Implants Market

• Bio-printed Bones and Joints
o Rapid advancements in the 3D printing technology is one of the most emerging segments in orthopedic implants. The utilization of printed bones and joints is likely to become more widespread in the upcoming years as the technology improves along with time.

• Engineered Stem Cells for Bone Regeneration
o Stem cell-derived exosomes have been shown to promote the regeneration and reconstruction of multiple tissues, including cartilage and skin.

• Smart Sensor-Enabled Technologies and Implants
o This technology has the potential to vastly improve the fit and function of orthopedic devices.

• Robotics-assisted Orthopedic Surgeries
o Robotics offers many benefits over the traditional surgery, including greater precision, less invasiveness and lesser healing time.

• Bioresorbable Orthopedic Implants
o Bioresorbable materials offer several advantages for the patient and the treating surgeon by avoiding severe reactions to metal and metal debris.

Upcoming Market Challenges to the Growth of Orthopedic Implants Market

The high costs of the implants combined with the need for revision procedures each and every few years depending on the wear & tear of the implant, and side effects associated with the orthopedics implant post-surgeries such as implant rejection, septic, & allergies, etc are likely to affect the growth of the global orthopedic implants market in the upcoming years.

North America is Set to Hold a Larger Market Share in the Global Orthopedic Implants Market

From a geographical overview, North America is anticipated to hold a larger market share in the global orthopedic implants market. This can be mainly attributed to the growing geriatric population, adoption of technologically advanced orthopedic implants among medical surgeons, an increasing awareness on osteoporosis care, and favorable reimbursement landscape in this region.

Competitive Landscape Analysis: Orthopedic Implants Market

Some of the well-established and promising players operating in the global orthopedic implants market are Arthrex Inc., NuVasive, DePuy Synthes, and Stryker Corporation, among others.

Aggressive Growth Strategies Adopted by the Leading Market Players to Establish Their Strong Foothold in the Global Orthopedic Implants Market

All the estbalished players operating in the global orthopedic implants market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, advancements and new product launches to garner a higher market share than their peers.

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Ruta Halde
Associate, Medi-Tech Insights
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1050 Brussels, Belgium
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info@meditechinsights.com
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Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.