Press release
Lower Extremity Implants Market on the Rise with Robotic Innovations and 3D Printing
Lower Extremity Implants market is expected to grow from an estimated USD 13.61 billion in 2024 to USD 18.55 billion in 2033, at a CAGR of 3.50%. The lower extremity implants market is witnessing rapid growth, driven by the increasing use of robotic technology and 3D printing in orthopedic treatments. Notably, Care Hospitals in Visakhapatnam successfully completed their first robotic knee replacement procedure in July 2024 using the advanced Cuvis Robotic Joint Replacement System. Similarly, Think Surgical's TMINI system, a compact robotic device approved by FDA in May 2023, enhances surgical accuracy during total knee replacement procedures.The surge in demand for cutting-edge orthopedic implanted devices, coupled with the swift development of global healthcare infrastructure, is propelling market expansion. Additionally, the growing awareness and availability of minimally invasive surgical procedures, which offer numerous advantages, are major factors contributing to this growth.
Sports-related injuries are also on the rise, further boosting market demand. According to the National Safety Council, 3.7 million people sought medical attention for sports and recreational equipment injuries in 2023. Activities such as basketball, cycling, and working out were the most common causes of these injuries.
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Drivers of Market Growth
A significant driver of market growth is the rising adoption of 3D printing technology for personalized lower extremity implants. This technology allows for custom implants tailored to each patient's anatomy, resulting in improved surgical outcomes and patient satisfaction. Personalized 3D-printed ankle and knee implants offer better fit and functionality, reducing recovery times and complications. Additionally, 3D printing enables the development of new materials, such as biocompatible metals and polymers, which enhance implant performance and longevity.
The increasing emphasis on minimally invasive procedures and the rising incidence of orthopedic disorders, including arthritis and trauma injuries, further strengthen the need for individualized treatments. As 3D printing becomes more accessible and affordable, its use in lower extremity implants production is expected to drive continued market growth.
Challenges in Market Expansion
However, the market faces challenges, particularly in low-income regions, where the high costs associated with implant procedures limit accessibility. The expense of modern implants, surgical procedures, hospital stays, and post-operative care are significant barriers for patients in economically deprived areas with limited health insurance coverage and government healthcare funding. The need for imported premium implants and the lack of domestic production further increase costs.
To address these challenges, efforts are needed to lower production costs, increase government subsidies, and improve access to affordable implant options.
Market Segmentation Insights
The lower extremity implants market is segmented by type into Knee, Hip, Foot & Ankle. In 2023, the Knee segment led the market due to the rising incidence of foot and ankle conditions such as deformities, arthritis, and fractures. According to a 2023 report by Wolters Kluwer Health, Inc., ankle fractures are the second most common type of fracture in the lower extremities, accounting for over 9% of all fractures. The NIH report from 2023 also highlights the high frequency of ankle joint fractures requiring orthopedic repair.
The Knee segment is anticipated to grow at the fastest rate over the forecast period, driven by the increasing prevalence of osteoarthritis and other degenerative joint conditions. Rising obesity rates and an aging global population contribute to the growing demand for knee replacement surgeries. The Osteoarthritis (OA) Action Alliance reports that the highest annual incidence of knee OA occurs among individuals aged 55 to 64.
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Lower Extremity Implants Top Companies and Competitive Landscape
Due to an ageing population, sports injuries, and an increase in orthopaedic problems, the market for lower extremity implants is expanding. These implants, which include those for the ankle, foot, knee, and hip, are used to relieve pain and restore mobility in cases of deformities, arthritis, or fractures.
The market is dominated by major manufacturers like Stryker, Zimmer Biomet, Smith & Nephew, and DePuy Synthes, who provide cutting-edge implant designs and novel materials for increased biocompatibility and durability. Personalised solutions, 3D-printed implants, and minimally invasive procedures are the main areas of competition. The market is expanding as a result of rising R&D expenditures and rising awareness of available treatments.
In February 2024, In Tampa, Florida, at the American College of Foot & Ankle Surgeons (ACFAS) Annual Conference, Restor3d, Inc., a provider of customised musculoskeletal implants, unveiled its 3D printed foot and ankle solutions.
Some of the key companies in the global Lower Extremity Implants market include:
Stryker
Johnson & Johnson (DePuy Synthes)
Zimmer Biomet
Smith + Nephew
Össur
DJO Global
Acumed, LLC
Arthrex, Inc.
CONMED
Orthofix.
Lower Extremity Implants Latest Industry Updates
In February 2024, the Asian Orthopaedic Institute (AOI) at SIMS Hospital in Chennai introduced a revolutionary ceramic knee replacement device.
In April 2024, Henry Schein, Inc. and Extremity Medical LLC, a cutting-edge medical engineering firm, established a strategic partnership. Through this collaboration, Extremity Medical will make its cutting-edge orthopedic extremities implant systems available to a global patient base.
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Lower Extremity Implants Market Segmentation Analysis
By Type Outlook (Revenue, USD Billion; 2020-2033)
Knee
Hip
Foot & Ankle
By Biomaterial Outlook (Revenue, USD Billion; 2020-2033)
Metallic Biomaterials
Ceramic Biomaterials
Polymeric Biomaterials
Natural Biomaterials
By End-use Outlook (Revenue, USD Billion; 2020-2033)
Hospitals
ASCs
Clinics
By Regional Outlook (Revenue, USD Billion; 2020-2033)
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Spain
Benelux
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA
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Read Similar Reports By Emergen Research:
Lower Extremity Implants Market Size @ https://www.emergenresearch.com/industry-report/lower-extremity-implants-market/market-size
Lower Extremity Implants Market Share @ https://www.emergenresearch.com/industry-report/lower-extremity-implants-market/market-share
Lower Extremity Implants Market Trends @ https://www.emergenresearch.com/industry-report/lower-extremity-implants-market/market-trends
Lower Extremity Implants Regional Market Demand @ https://www.emergenresearch.com/industry-report/lower-extremity-implants-market/regional-market-demand
Lower Extremity Implants Market Analysis @ https://www.emergenresearch.com/industry-report/lower-extremity-implants-market/market-analysis
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