Orthopedic Market Growth to be Driven by Emerging Trends | $56.76 Billion by 2029

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What is the Projected Market Size of the Orthopedic Industry?
In the past years, there has been substantial growth in the orthopedic market size. The market is set to expand from a value of $44.80 billion in 2024 to $47.06 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 5.1%. This growth during the historic period is due to several factors including an increase in the elderly population, a surge in musculoskeletal disorders, a growing demand for less invasive surgical procedures, an increase in sports and accident-related injuries, and a higher adoption rate of cutting-edge orthopedic implants.

What Will Be the Size of the Orthopedic Market by 2029?
In the forthcoming years, steady expansion is anticipated in the orthopedic market size. It is projected to escalate to $56.76 billion by 2029, with a compound annual growth rate (CAGR) of 4.8%. The predicted growth in this timeframe is due to factors such as the escalating adoption of robotic-assisted surgeries, increased emphasis on outpatient orthopedic procedures, burgeoning investments in orthopedic research and development, wider utilization of bioresorbable implants, and broader healthcare access in developing markets. Key trends for the forecast period encompass advancements in 3D printing for orthopedic implants, breakthroughs in smart implant technologies, the inclusion of AI in surgical planning, innovative personalized orthopedic solutions, and progress in regenerative medicine and orthobiologics.

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What Are the Key Drivers Accelerating Growth in the Orthopedic Market?
The escalation in vehicular mishaps is predicted to fuel the expansion of the orthopedic market in the future. These mishaps pertain to impact between one or more automobiles resulting in damage, physical harm, or loss of life. This spike in vehicular accidents is mainly attributed to increased traffic congestion as crowded roads heighten the chances of crashes and limit the room for secure navigation. Orthopedic treatment is a vital aspect of rehabilitating car accident patients, addressing injuries such as fractures, dislocations, and spinal trauma, and enabling them to regain movement and function. For example, in May 2023, the Department of Infrastructure, Transport, Regional Development, Communications and the Arts, a government department based in Australia, reported 1,194 fatalities due to road accidents in 2022, indicating a 5.8% increase from the previous year. As such, the growing number of vehicular accidents are spurring the development of the orthopedic market.

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How Is the Orthopedic Market Segmented by Type, Application, and Region?
The orthopedic market covered in this report is segmented -

1) By Product Type: Orthopedic Implants, Orthopedic Instruments, Braces And Supports, Orthopedic Devices
2) By Procedure Type: Open Surgery, Minimally Invasive Surgery, Arthroscopic Surgery
3) By Material: Metal, Polymers, Ceramics, Composites
4) By Application Type: Hip Orthopedic Devices, Knee Orthopedic Devices, Spine Orthopedic Devices, Craniomaxillofacial Orthopedic Devices, Dental Orthopedic Devices, Sports Injuries, Extremities, Trauma(SET) Orthopedic Devices
5) By End-User: Hospitals, Ambulatory Surgical Centers, Orthopedic Clinics, Rehabilitation Centers

Subsegments:
1) By Orthopedic Implants: Joint Replacement Implants, Spinal Implants, Trauma Implants, Dental Implants, Bone Cement
2) By Orthopedic Instruments: Power Tools, Cutting Instruments, Graspers and Holders, Retractors, Measurement Instruments
3) By Braces And Supports: Knee Braces, Ankle Braces, Back Supports, Elbow and Wrist Braces, Neck Braces
4) By Orthopedic Devices: External Fixators, Bone Growth Stimulators, Traction Devices, Orthotic Devices, Walking Aids

What Are the Key Trends Driving Growth in the Orthopedic Market?
Leading companies in the orthopedic market are concentrating on creating innovative solutions such as curved intramedullary fixation devices to facilitate minimally invasive procedures for complex pelvic fractures and improve outcomes in osteoporotic patients. Curved intramedullary fixation systems are specialized surgical technologies that provide a secure repair for fractures present in naturally curved bones, superior alignment, load distribution, and surgical flexibility compared to conventional straight implants. For example, CurvaFix, Inc., a medical device company based in the United States, introduced the 7.5mm CurvaFix IM Implant in February 2023. This smaller-diameter, curved intramedullary device is crafted for patients with smaller bones and complex pelvic anatomy, especially efficient in treating fragility fractures of the pelvis (FFP) in elderly and osteoporotic individuals. The implant facilitates strong and stable fixation despite dysmorphic bone corridors and aids in early mobility, typically within 24 hours after operation.

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Who Are the Leading Companies Driving Growth in the Orthopedic Market?
Major companies operating in the orthopedic market are Medtronic plc, Stryker Corporation, Zimmer Biomet Holdings Inc., Smith & Nephew plc, DePuy Synthes Inc., Enovis Corporation, Globus Medical Inc., Orthofix Medical Inc., DeRoyal Industries Inc., Breg Inc., Exactech Inc., Paragon 28 Inc., MicroPort Orthopedics Inc., B. Braun Melsungen AG, Corin Group PLC, Restor3d Inc., Bauerfeind AG, Thuasne Group, Orliman S.L., OrthoSolutions Ltd.

Which Is the Leading Region in the Global Orthopedic Market?
North America was the largest region in the orthopedic market in 2024. The regions covered in the orthopedic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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