Orthopedic Implant Market Segmentation by Product (Dental Implant, Spinal Implant, Joint Reconstruction, Orthobiologics and Others); by Type (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, and Others); by Biomaterial (Metallic Biomaterials, Ceramic Biomaterials, Polymers Biomaterials, and Others); by End Users (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others)-Global Demand Analysis & Opportunity Outlook 2031

Global Orthopedic Implant Market Highlights Over 2022 - 2031

The global orthopedic implant market catered the revenue of nearly USD 47 Billion in the year 2021 and is estimated to garner a modest revenue by the end of year 2031 by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing number of patients affected by orthopedic disorders, mostly aged population, and their need to treat or support any damage bone or joint. The data of aged population as given by the United Nations (UN) i.e., people having the age of 65 or above, in the world, accounted to 702 935 thousands in the year 2019 and is predicted to reach 997 488 thousand by the end of 2030.

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An orthopedic implant is a medical device intended to replace or support a missing bone, joint, or cartilage caused by any damage or deformity. These implants are surgically inserted into the body to treat or replace these uncertain deformities. The recent advancements in the field of orthopedic implants, such as the patient-specific orthopedic implant also known as patient-specific implant (PSI) technology, are anticipated to create numerous opportunities for the growth of the market in the coming years. The PSI technology aims at reducing the high cost of the procedure and maximizing the outcomes.

The outbreak of covid-19 pandemic hindered the workflow of numerous sectors of the healthcare industry across the globe and also impacted severely to the growth of the global orthopedic implant market in the year 2020. This drop in the growth of the market is attributed to the guidelines provided by governments around the world to strictly follow social distancing in order to prevent the spread of virus. This protocol has reduced the demand for orthopedic services provided by hospitals and healthcare centers. However, the growth of the market is anticipated to rebound in the coming years owing to the fast development of technology in this field.

The global orthopedics implant market is segmented based on product, type, biomaterial, and end users. On the basis of products, the market is segmented into the dental implant, a spinal implants, joint reconstruction, orthobiologics and others. Among these segments, the joint reconstruction segment held the largest market share in the year 2021 and is anticipated to grow at a steady CAGR during the forecast period. This growth is the result of innovative advancements in technologies that are more inclined toward the successful outcome of surgeries. The joint reconstruction segment is further segmented into knee, hip, and others. The increasing cases of hip and knee surgeries are estimated to add in the market share.

Global Orthopedic Implant Market Regional Synopsis

Regionally, the global orthopedic implant market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. Amongst these, the market in the North America region witnessed tremendous growth in the year 2021. This growth is the result of the increasing aging patient population suffering from osteoarthritis and related disorders. The market in the Asia Pacific is anticipated to grow at a higher CAGR over the forecast period on the back of an increasing aging population, improvement in reimbursement policies, and better healthcare infrastructure. In other statistics by the UN, the aged population aged 65 and above in the Asia Pacific registered to have the highest share of population amongst all the other regions by registering a population count of 395344 Thousand in the year 2019. This is further expected to reach 587415 Thousand by the end of 2030.

World Aged Population (65 and Above), 2019 and 2030

Source: United Nations

Market Segmentation

Our in-depth analysis of the global orthopedic implant market includes the following segments:

By Product

• Dental Implant

• Spinal Implant

• Joint Reconstruction

• Orthobiologics

• Others

By Type

• Knee

• Hip

• Wrist & Shoulder

• Dental

• Spine

• Ankle

• Others

By Biomaterial

• Metallic Biomaterials

• Ceramic Biomaterials

• Polymers Biomaterials

• Others

By End Users

• Hospitals

• Orthopedic Clinics

• Ambulatory Surgical Centers

• Others

Growth Drivers and Challenges Impacting the Growth of the Global Orthopedic Implant Market

Growth Drivers

• Increase in prevalence of orthopedic injuries

• Increasing aged population

• Advancement of technology in orthopedic implants

Challenges

• High cost allied with orthopedic implants

Key Companies Dominating the Global Orthopedic Implant Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global orthopedic implant market that are included in our report are Zimmer Biomet, Medtronic, NuVasive, Inc., Smith & Nephew PLC, CONMED Corporation, Arthrex, Inc., DJO, LLC, Merete GmbH, Medical Devices Business Services, Inc. (Johnson & Johnson) and others.

Latest Developments in the Global Orthopedic Implant Market:

• 22 November 2021: DePuy Synthes, the orthopedic company of Johnson & Johnson launched a new system with two handpieces called UNIUM System for trauma and small bone surgeries.

• 22 September 2021: DJO, a subsidiary of Colfax Corporation announced the launch of MedShape DynaNail Hybrid Fusion System. Its hybrid screw/nail design combines sustained dynamic compressive power with easy and intuitive insertion.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis, and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the clients’ requirements helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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