Orthopedic Implants Market Set for Steady Expansion by 2032, Driven by Innovation and Growing Surgical Volumes | DelveInsight

The global orthopedic implants market is projected to grow at a CAGR of 5.46% between 2024 and 2030. This growth is driven by factors including the rising prevalence of orthopedic conditions like arthritis and osteoporosis, an increasing geriatric population, a higher incidence of road accidents and related injuries, as well as a growing emphasis on enhancing the safety, affordability, and usability of orthopedic implants. These elements are expected to contribute significantly to the market's revenue expansion during the forecast period (2024-2030).

DelveInsight's Orthopedic Implants Market Insights report provides the current and forecast market analysis, individual leading Orthopedic Implants companies' market shares, challenges, Orthopedic Implants market drivers, barriers, and trends, and key Orthopedic Implants companies in the market.

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Key Takeaways from the Orthopedic Implants Market Report
• The Orthopedic Implants market is projected to grow at a moderate CAGR from 2025 to 2032.
• As per DelveInsight estimates, North America is anticipated to dominate the global Orthopedic Implants market during the forecast period.
• Notable Orthopedic Implants companies such as Smith+Nephew, Stryker, Zimmer Biomet, Johnson & Johnson Services, Inc.Biotek (Chetan Meditech Pvt. Ltd.), CONMED Corporation, Medtronic, Enovis, B. Braun SE, Corin Group, Exactech, Inc., Meril Life Sciences Pvt. Ltd., Arthrex, Inc., Conformis, Medacta International, Globus Medical, Auxein Medical, United Orthopedic Corporation, Limacorporate S.p.A., NuVasive®, Inc., and several others are currently operating in the Orthopedic Implants market.
In September 2022, Zimmer Biomet Holdings, Inc., a global leader in medical technology, obtained the US Food and Drug Administration (FDA) 510(k) clearance for its IdentityTM Shoulder System, designed for anatomic, reverse, and revision shoulder replacements.
In September 2021, Tyber Medical, LLC, a prominent orthopedic device manufacturer specializing in private-label orthopedic implants for trauma, extremity, and spine applications, received its second and largest FDA 510(k) clearance for an expanded range of anatomical plating systems.
In July 2020, Orthofix Medical Inc., a worldwide medical device company focused on musculoskeletal healing solutions, secured both FDA 510(k) clearance and European CE Mark approval for its JuniOrtho® Plating System, which is intended to meet the needs of advanced deformity and trauma reconstruction in the lower extremities.


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Orthopedic Implants Overview

The orthopedic implants market is centered around devices used to support, fix, or replace damaged bones and joints, helping to restore mobility and function for patients suffering from various musculoskeletal conditions. These implants include a wide range of products such as joint replacements (hip, knee, shoulder), plates, screws, rods, and spinal implants. The market is driven by factors like the increasing prevalence of orthopedic disorders such as arthritis and osteoporosis, a growing aging population, and rising incidences of injuries from accidents. Advances in implant materials and technologies, along with improved surgical techniques, are enhancing implant safety, durability, and patient outcomes. Leading companies in this sector are continuously innovating to meet the demand for more effective and affordable orthopedic solutions, contributing to steady growth in the global orthopedic implants market.

Orthopedic Implants Market Insights

North America is projected to lead the global orthopedic implants market in terms of revenue. This leadership is driven by factors such as the high prevalence of chronic bone diseases, an increasing elderly population, the presence of major orthopedic implant manufacturers, advanced medical infrastructure, and other related elements.

A key contributor to the growth of the North American orthopedic implants market is the widespread occurrence of chronic bone conditions that cause disability, particularly in the United States. The rising incidence of arthritis in the US is a significant factor fueling market expansion in the region. According to the Centers for Disease Control and Prevention (CDC) 2021, approximately 78.4 million people are expected to have doctor-diagnosed arthritis by 2040, with women making up two-thirds of this population.

Additionally, the same source estimates that by 2040, about 34.6 million adults in the US will experience activity limitations due to arthritis. Furthermore, the Arthritis Foundation reported in 2021 that roughly 1.5 million individuals in the United States suffer from rheumatoid arthritis.


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Orthopedic Implants Market Dynamics

According to World Health Organization (WHO) 2022, musculoskeletal conditions are the leading contributor to disability, and worldwide around 1.71 billion people are suffering from musculoskeletal diseases such as osteoporosis, osteoarthritis, rheumatoid arthritis, and others.

Osteoarthritis also known as degenerative or wear-and-tear arthritis affects the joints and with time leads to the wearing off of smooth cartilage from the surface of bones. This causes patients to face inflammation, swelling, and pain in joints affecting the overall movement of a person. In severe cases, patients have to undergo orthopedic implant surgery.

According to World Health Organization 2022, worldwide around 528 million people suffered from osteoarthritis in 2019. As per the same source, worldwide 18 million people had rheumatoid arthritis in 2019.

Also, according to the above-mentioned source osteoarthritis contributed to 19 million years lived with disability (YLDs), while rheumatoid arthritis contributed to 2.4 million YLDs globally in 2019.

The rise in road traffic accidents is another major factor driving the growth of the orthopedic implants market. Light and fatal injuries owing to sudden road accidents lead to disability sometimes and increase the need for orthopedic implants, positively impacting the growth of the orthopedic implants market. According to WHO 2022, approximately 1.3 million people die each year because of road traffic accidents and around 20-50 million individuals suffer from non-fatal injuries or some sort of disability.

Orthopedic Implants Market Drivers:

The orthopedic implants market is slated to witness prosperity owing to factors such as the increasing prevalence of orthopedic diseases such as arthritis, osteoporosis, and others, a growing burden of the geriatric population, the rising number of road accidents associated and other injuries, and the growing focus on improving the safety, affordability, and usability of orthopedic implants for people are further expected to result in the appreciable revenue growth in the orthopedic implants market during the forecast period (2024-2030).

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Coverage: Global
Study Period: 2022 to 2032
Key Orthopedic Implants Companies: Smith+Nephew, Stryker, Zimmer Biomet, Johnson & Johnson Services, Inc.Biotek (Chetan Meditech Pvt. Ltd.), CONMED Corporation, Medtronic, Enovis, B. Braun SE, Corin Group, Exactech, Inc., Meril Life Sciences Pvt. Ltd., Arthrex, Inc., Conformis, Medacta International, Globus Medical, Auxein Medical, United Orthopedic Corporation, Limacorporate S.p.A., NuVasive®, Inc., and others.

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Table of Contents
1. Orthopedic Implants Market Report Introduction
2. Orthopedic Implants Market Executive Summary
3. Competitive Landscape
4. Regulatory Analysis
5. Orthopedic Implants Market Key Factors Analysis
6. Orthopedic Implants Market Porter's Five Forces Analysis
7. Orthopedic Implants Market Layout
8. Orthopedic Implants Market Company and Product Profiles
9. KOL Views
10. Project Approach
11. About DelveInsight
12. Disclaimer & Contact Us

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This release was published on openPR.