Orthopedic Implants Market to Present Lucrative Growth by Reaching Market Value of US$ 56.3 Bn by End of 2031, as per TMR Analysis

In 2021, the global market for 𝐨𝐫𝐭𝐡𝐨𝐩𝐞𝐝𝐢𝐜 𝐢𝐦𝐩𝐥𝐚𝐧𝐭𝐬 was valued at US$ 34.5 billion. It is projected to witness a Compound Annual Growth Rate (CAGR) of 5.0% from 2022 to 2031, reaching a valuation exceeding $56.3 billion by the conclusion of 2031.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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The surge in patients requiring orthopedic implant surgery is anticipated to be a primary driver propelling the global orthopedic implants market throughout the forecast period. Additionally, the proliferation of hospitals and ambulatory surgical centers, coupled with the expanding geriatric population, are key factors contributing to the heightened demand for orthopedic devices.

Orthopedic implants are medical devices designed to replace missing joints or bones, or to support damaged bones. They are used to alleviate pain and restore function, especially in cases of joint damage or deformity. These implants are typically made from materials such as metal alloys, ceramics, and polymers.

Metal alloys like titanium are common, while bioceramics help replace degenerative tissues and bones, such as those affected by osteoporosis. Polymers are utilized to mimic cartilage or ligaments that have degenerated over time or due to trauma. According to the Centers for Disease Control and Prevention, an estimated 78 million adults in the U.S. aged 18 or older will suffer from doctor-diagnosed arthritis by 2040.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Stryker, DePuy Synthes, Zimmer Biomet, Orthopedic Implant Company, Smith & Nephew, Evonik, Medtronic Spinal, DJO Global, Arthrex, Inc., NuVasive, Inc., Globus Medical, KYOCERA Medical Technologies, Inc., Health Canada, Teijin Nakashima Medical Co., Ltd., and HCM Orthocare Pvt. Ltd.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐏𝐫𝐨𝐝𝐮𝐜𝐭

Joint Reconstruction
Hip Replacement
Knee Replacement
Shoulder Replacement
Others

Spinal Devices
Spinal Fusion Devices
Spinal Non-fusion Devices
Trauma Fixation
Metal Plates & Screws
Pins/Wires
Nails & Rods
Others

Orthobiologics
Dental Implants
Others

𝐄𝐧𝐝-𝐮𝐬𝐞𝐫

Hospitals
Orthopedic Clinics
Ambulatory Surgery Centers
Others

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In April 2022, Orthopedic Implant Company announced the FDA clearance along with commercial launch of the market's first and high value dorsal spanning plate

In March 2022, Evonik announced the launch of a new 3D printable biomaterial named VESTAKEEP iC4800 3DF. The company focuses on offering innovation in osteoconductive PEEK filament, which improves fusion between bone and the implant.

In December 2021, Health Canada approved Specific 3D mandibular plate, its first domestically developed 3D printed implant

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

North America led the global orthopedic implants market in 2021 and is poised for high growth with a strong CAGR from 2022 to 2031. This growth is attributed to increasing demand for advanced orthopedic implants and procedures. In Canada, hip and knee replacements rank among the top surgeries, with over 123,000 procedures annually, as per the Canadian Joint Replacement Registry.

Meanwhile, the Asia Pacific region is anticipated to witness rapid market expansion during the same period. This growth is driven by a high prevalence of orthopedic diseases and improving economies in countries like China, India, and Southeast Asia. The region's rising per capita healthcare expenditure is also contributing to market growth. However, osteoporosis remains underdiagnosed and undertreated in Asia, particularly in rural areas where access to diagnosis and treatment is limited, suggesting a potential underestimation of the disease's prevalence in these regions.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

Drivers:

Increasing prevalence of orthopedic disorders, rising geriatric population, advancements in implant technology, growing demand for minimally invasive surgeries.

Challenges:

High cost of implants, reimbursement issues, regulatory hurdles, risk of post-operative complications.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Shift towards personalized orthopedic implants tailored to individual patient anatomy.
Growing adoption of 3D printing technology for manufacturing customized implants.
Rising demand for outpatient orthopedic procedures and same-day surgeries.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The orthopedic implants market is expected to witness continued growth during the forecast period, driven by ongoing technological innovations, expanding applications of implants, and a growing emphasis on value-based healthcare delivery. Moreover, initiatives aimed at improving patient access to orthopedic care in developing regions will further stimulate market expansion.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Analysis of market dynamics, including drivers, challenges, and opportunities.
Assessment of market segmentation based on service type, sourcing type, application, industry vertical, and region.
Examination of regional trends and growth prospects.
Evaluation of competitive landscape, including key players, market share, and strategic initiatives.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐌𝐨𝐫𝐩𝐡𝐨𝐥𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/04/03/2639321/0/en/Morpholine-Market-to-grow-at-a-CAGR-of-6-2-from-2023-2031-reaching-US-6-7-Billion-TMR-Study.html

𝐇𝐢𝐠𝐡 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/en/news-release/2023/04/04/2641101/0/en/High-Strength-Concrete-Market-to-Grow-by-6-1-from-2023-2031-reaching-US-661-6-Million-TMR-Study.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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