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Advanced Orthopedic Technologies, Implants, And Regenerative Products Global Market 2024 - Top Companies, Industry Analysis, Growth Statistics And Outlook By 2033
Advanced Orthopedic Technologies, Implants, And Regenerative Products Global Market
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According to The Business Research Company's, The advanced orthopedic technologies, implants, and regenerative products market size has grown strongly in recent years. It will grow from $63.99 billion in 2023 to $68.21 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to aging population, rising incidence of orthopedic conditions, joint replacement surgeries, reimbursement policies, globalization of orthopedic markets.
The advanced orthopedic technologies, implants, and regenerative products market size is expected to see strong growth in the next few years. It will grow to $85.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to nano-scale orthopedic treatments, patient-specific instrumentation, precision medicine in orthopedics, value-based healthcare, ambulatory surgery centers (ascs) growth. Major trends in the forecast period include regenerative medicine advances, robotics-assisted surgery, 3d printing technology, advancements in biomaterials, smart implants, biodegradable implants, integration of augmented reality (ar) and virtual reality (vr), collaboration with data analytics companies, sustainable orthopedics.
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Market Drivers and Trends:
The increasing incidence of orthopedic disorders is expected to propel the growth of the advanced orthopedic technologies, implants, and regenerative products market going forward. Orthopedic disorders refer to conditions that affect the musculoskeletal system, including the bones, joints, muscles, tendons, ligaments, and cartilage. The increasing number of orthopedic diseases leads to a rise in demand for advanced orthopedic technologies, implants, and regenerative products, as they are used for diagnosing, treating, and managing orthopedic disease symptoms and causes. For instance, in June 2023, according to Versus Arthritis, a UK-based charity dedicated to supporting people with arthritis, around 450,000 people in the UK have rheumatoid arthritis, 190,000 adults have psoriatic arthritis, and 10 million people have osteoarthritis, compared to 430,000 people with rheumatoid arthritis, 100,000 adults with psoriatic arthritis, and 8.5 million people with osteoarthritis in 2021, respectively. Therefore, the increasing incidence of orthopedic disorders drives the growth of the advanced orthopedic technologies, implants, and regenerative products market.
Advancements in technology are a key trend gaining popularity in the advanced orthopedic technologies, implants, and regenerative products market. Major companies operating in the advanced orthopedic technologies, implants, and regenerative products market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Orthofix Medical Inc., a US-based medical device company providing spinal, orthopedic, bone growth, and motion preservation products, launched the Mariner deformity pedicle screw system. This system aims to offer a comprehensive solution that meets clinical goals and expands the Mariner family's modular platform. It combines biologics and 7-D Flash navigation with machine vision precision and segmental registration. The Mariner deformity system uses Mariner's reliable modular technology to offer a wide range of implants while minimizing the usual number of surgical trays needed for deformity surgery.
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Major Key Players of the Market:
Johnson & Johnson, Medtronic PLC, Stryker Corporation, B Braun Medical Inc., Zimmer Biomet Holdings Inc., Smith & Nephew PLC, Arthrex Inc., Integra LifeSciences Holdings Corporation, Lepu Medical Technology Co Ltd., NuVasive Inc., CONMED Corporation, Globus Medical Inc., Wright Medical Group N.V., Bioventus LLC, Orthofix Medical Inc., Alphatec Holdings Inc., Acumed LLC, MiMedx Group Inc., Exactech Inc., Anika Therapeutics Inc., DJO Global Inc., Misonix Inc., Osiris Therapeutics Inc., Bacterin International Holdings Inc., Cerapedics Inc., Histogenics Corporation, Kuros Biosciences AG, Life Spine Inc., Aurora Spine Corporation, Camber Spine Technologies LLC.
Advanced Orthopedic Technologies, Implants, And Regenerative Products Market 2024 Key Insights:
• The advanced orthopedic technologies, implants, and regenerative products market size is expected to see strong growth in the next few years. It will grow to $85.26 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• The Role Of Advanced Orthopedic Technologies, Implants, And Regenerative Products In Addressing The Rising Incidence Of Orthopedic Disorders
• Technological Advancement In The Advanced Orthopedic Technologies, Implants, And Regenerative Products Market
• North America was the largest region in the advanced orthopedic technologies, implants, and regenerative products market in 2023
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