Press release
Orthopedic Implants Market Set for Growth Driven by Aging Population and Technological Advancements
Orthopedic Implants Market
According to the World Health Organization (WHO), about 1.71 billion people globally are living with musculoskeletal conditions. These conditions, especially low back pain, are the leading cause of disability in over 160 countries. The rising aging population is a key factor contributing to the growing need for orthopedic care, as older adults are more likely to experience bone and joint issues.
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Orthopedic implants, made mainly from metal alloys like stainless steel and titanium, are used to replace or support damaged bones. Recent innovations are helping meet the increasing demand. One such advancement is 3D printing, which allows for the creation of customized implants and surgical tools tailored to individual patients. This leads to better surgical outcomes, faster recovery, and improved patient satisfaction.
In addition, the development of smart bone implants is emerging as a major trend. These implants can monitor healing, communicate with clinicians, and even power themselves. While challenges such as cost and reliability remain, these implants have the potential to significantly improve long-term results and reduce the need for repeat surgeries.
Despite the promising outlook, the high cost of orthopedic implants poses a challenge. Factors such as confidentiality agreements between hospitals and manufacturers, limited surgeon awareness about pricing, and the introduction of costly new technologies contribute to the overall expense. Increasing transparency, educating healthcare providers, and adopting evidence-based choices may help lower these costs in the future.
Segment Insights
By product type, the orthobiologics segment is expected to lead the market. These materials help in faster tissue healing and are less invasive than traditional procedures. As research progresses, their role in treating complex bone conditions is expected to grow further.
Reconstructive joint replacements, particularly hip and knee surgeries, are also showing steady growth due to the rise in joint-related issues among the elderly. These procedures greatly improve mobility and quality of life for patients, which is boosting their popularity.
From a materials perspective, metallic biomaterials currently hold the largest share of the market due to their strength, safety, and long-lasting performance. However, ceramic biomaterials are gaining traction for their resistance to wear and ability to bond directly with bone, making them ideal for certain types of implants.
When segmented by implant type, spine implants accounted for the highest revenue in 2022. These are used to stabilize and support the spine in conditions like fractures, scoliosis, or degenerative diseases. The knee implant segment is also growing quickly, driven by better designs, enhanced materials, and more effective surgical techniques.
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Orthopedic Implants Market Top Companies and Competitive Landscape
The global orthopedic implants market is moderately fragmented, with many large and medium-sized players accounting for majority of market revenue. Major businesses are using a variety of tactics, making mergers and acquisitions, strategic agreements, and contracts, as well as creating, experimenting with, and introducing more efficient orthopedic implants solutions.
Some major players included in the global orthopedic implants market report are:
Stryker
DePuy Synthes
Zimmer Biomet
Smith & Nephew
Orthopedic Implant Company
DJO Global
Arthrex, Inc.
NuVasive, Inc.
Evonic
Globus Medical
Health Canada
Kyocera Medical Technologies, Inc.
Teijin Nakashima Medical Co., Ltd.
HMC Orthcare Pvt. Ltd.
Stryker Corporation
Smith & Nephew plc
Medtronic plc
Johnson & Johnson
CONMED Corporation
Colfax Corporation (DJO GLOBAL LLC)
Orthopedic Implants Market Latest Industry Updates
On 11 November 2022, General Electric (GE) Additive and Orchid Orthopedic Solutions collaborated to advance Additive Manufacturing (AM) in the orthopedic implant sector. Orchid invested in GE Additive's Electron Beam Melting (EBM) technology, with the first machines installed in 2022. Orchid plans to use the technology to manufacture large orthopedic implants, including knee components and acetabular cups. EBM enables the mass production of parts by stacking them closely without compromising quality, resulting in consistent material properties for thin and bulky geometries. The collaboration aims to raise awareness of EBM technology for 3D metal-printed orthopedic implants.
On 11 October 2022, Orthofix and SeaSpine merged in an all-stock deal to form a prominent global spine and orthopedics company. With products available in 68 countries and revenues of approximately USD 693 million, this merger combines complementary portfolios of biologics, orthopedic solutions, and surgical navigation systems. The company will offer a wide range of biologics and regenerative technologies, serving both the spine and orthopedics fields. In addition, the companies expect substantial cost savings, meaningful cross-selling opportunities, and an enhanced ability to reach larger distribution partners.
Orthopedic Implants Market Segmentation Analysis
For the purpose of this report, Emergen Research has segmented the global orthopedic implants market on the basis of type, application, deployment, enterprise size, component, vertical and region:
Product Outlook (Revenue, USD Billion; 2019-2032)
Reconstructive Joint Replacements
Spinal Implants
Dental Implants
Trauma
Orthobiologics
Others
Biomaterial Outlook (Revenue, USD Billion; 2019-2032)
Metallic Biomaterials
Ceramic Biomaterials
Polymeric Biomaterials
Type Outlook (Revenue, USD Billion; 2019-2032)
Knee
Hip
Wrist and Shoulder
Dental
Spine
Ankle
End-use Outlook (Revenue, USD Billion; 2019-2032)
Hospitals
Homecare
Outpatient Facilities
Research and Manufacturing
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Coverage of the Orthopedic Implants Market:
Insightful information regarding the global Orthopedic Implants market
Identification of growth in various segments and sub-segments of the Orthopedic Implants market
Strategic recommendations for investment opportunities
The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
Emerging trends and current market segment analysis to help investors formulate new business strategies
Accelerates the decision-making process through the availability of the drivers and limitations
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