Press release
Orthopedic Implants Market Size (USD 73.32 billion by 2032) Achieves Record-breaking Growth in Meeting Healthcare Requirements
orthopedic implants market
Allied Market Research has published a study report with the title Orthopedic Implants Market Size was Valued at USD 47.19 billion in 2022 and is Projected to Garner USD 73.32 billion by 2032, registering a CAGR of 4.5% from 2023 to 2032.
Increase in the prevalence of orthopedic injuries or diseases such as arthritis and osteoarthritis and rapid surge in the aging population across the world who are more prone to orthopedic diseases drive the growth of the global orthopedic implants market. On the other hand, factors such as the high cost associated with procedures involving orthopedic implants treatment and stringent government policies regarding the implants impede the growth to some extent. However, rise in adoption of orthopedic implants, increase in awareness about the same, and favorable government policies for the development of orthopedic implants are expected to create lucrative opportunities in the industry.
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β’ Johnson & Johnson (DePuy Synthes)
β’ Stryker Corporation
β’ Zimmer Biomet Holdings, Inc.
β’ NuVasive, Inc.
β’ Medtronic Plc
β’ CONMED Corporation
β’ Smith and Nephew Plc.
β’ DJO Finance LLC
β’ Arthrex, Inc.
β’ Globus Medical Inc.
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By product type, the reconstructive joint replacements segment held the major share in 2022, generating more than one-third of the global orthopedic implants market revenue, and is expected to rule the roost by 2032. Increase in the prevalence of osteoporosis and osteoarthritis and rise in investment by the key players in the R&D of orthopedic implants drive the growth of the segment. The ortho-biologics segment, on the other hand, would showcase the fastest CAGR of 6.0% from 2023 to 2032. Rise in demand for advanced therapies and minimally invasive procedures and surge in patient awareness toward the use of orthobiologics fuel the segment growth.
By biomaterial, the metallic biomaterials segment contributed to the highest share in 2022, holding nearly two-thirds of the global orthopedic implants market revenue, due to the cost-effectiveness of these materials. The others segment, however, would showcase the fastest CAGR of 5.5% throughout the forecast period. This is owing to the growing demand for these materials due to several advantages over synthetic biomaterials.
By type, the knee segment accounted for around one-fourth of the global orthopedic implants market share in 2022, and is expected to retain its dominance by 2032. Surge in demand for knee implants due to increase in the prevalence of orthopedic diseases and rise in road accidents, sports injuries, and others propel the segment growth. The spine segment, simultaneously, would portray the fastest CAGR of 6.0% during the forecast period. This is attributed to the increase in the geriatric population and the rise in the incidence of spinal disorders.
By region, North America held the highest share in 2022, generating nearly half of the global orthopedic implants market revenue. Increase in the prevalence of orthopedic disorders, rise in the geriatric population, high healthcare expenditure, and the presence of major key players offering advanced orthopedic implants across the region drive the market growth. Asia-Pacific, at the same time, would display the fastest CAGR of 6.4% from 2023 to 2032. This is due to rise in R&D activities, increase in the prevalence of arthritis & sport-related injuries, unmet medical demands, and surge in investments in the healthcare sector in the region.
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Key Benefits For Stakeholders
β’ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the orthopedic implants market analysis from 2022 to 2032 to identify the prevailing orthopedic implants market opportunity.
β’ The market research is offered along with information related to key drivers, restraints, and opportunities.
β’ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
β’ In-depth analysis of the orthopedic implants market segmentation assists to determine the prevailing market opportunities.
β’ Major countries in each region are mapped according to their revenue contribution to the global market.
β’ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
β’ The report includes the analysis of the regional as well as global orthopedic implants market trends, key players, market segments, application areas, and market growth strategies.
Our Market Research Solution Provides You Answer to Below Mentioned Question:
β’ Which are the driving factors responsible for the growth of market?
β’ Which are the roadblock factors of this market?
β’ What are the new opportunities, by which market will grow in coming years?
β’ What are the trends of this market?
β’ Which are main factors responsible for new product launch?
β’ How big is the global & regional market in terms of revenue, sales and production?
β’ How far will the market grow in forecast period in terms of revenue, sales and production?
β’ Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
β’ How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
β’ Which region has more opportunities?
By Region Outlook
β’ North America
(U.S., Canada, Mexico)
β’ Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
β’ Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
β’ LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Contact Details:
David Correa
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
help@alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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