Orthopedic Implants Market

Estimated to approach the valuation of around a whopping US$50 bn by the end of 2022, global orthopedic implants market will continue to rise high in long term. An escalating number of joint reconstruction, as well as replacement surgeries will drive the market forward.

Rising Orthopedic Injuries and Surgeries Backed by Geriatric Population to Influence Orthopedic Implants Market

Increasing number of orthopedic surgeries on the back of rising occurrences of orthopedic injuries owing to diseases such as osteoarthritis, arthritis continues to influence growth of the orthopedic implants market. In addition, several issues related to bone density and diseases are also increasing, thus creating demand for minimally invasive orthopedic procedures. This has triggered an increase in the volume of orthopedic procedures, thus driving demand for implants. For instance, according to the National Centre for Biotechnology Information (NCBI), during the 2016-2019 timeline, the percentage of orthopedic surgeries with respect to volume increased by 38% and there is a likelihood of further increase.

Additionally, rapid rise in musculoskeletal diseases is likely to cause orthopedic injuries, further resulting in restricted mobility and severe pain. This is expected to translate into a global burden of such diseases thus impacting individual life quality. According to WHO, approximately 1.7 billion people worldwide suffer from musculoskeletal diseases. These diseases are one of the main causes of years lived with disability (YLDs) amounting to more than 145 million cases worldwide. This factor remains instrumental in driving the need for orthopedic procedures, thus bolstering growth of the orthopedic implants market. This scenario is also backed by growing geriatric population on the global front. For instance, according to United Nations, number of individuals aged 60 years and above is expected to double by end of 2050 to cross a count of 2 billion worldwide. Alternatively, World Health Organization estimates that geriatric population is projected to increase to touch count of 1.4 billion by end of 2030 globally. Aged individuals are more prone to develop orthopedic diseases such as arthritis. Moreover, risk of bone fractures owing to different bone conditions and fragility can trigger orthopedic surgeries, in turn contributing towards orthopedic implants market growth.

Innovations Backed by Technological Advances to Provide an Impetus to Market Growth

Rising number of orthopedic surgeries and procedures has provided an impetus to the demand for bone implants. Moreover, increasing demand of implantable minimally invasive medical implants has resulted in the possibility of customisation of implants based on patient’s ailment and condition. In addition, customisation of implants offers an orthopedic freedom wherein different novel approaches can be utilised to fit the implant. This has further translated into a wider scope for innovations to support surgeons in planting the implant. Innovations including portable navigation, robot assisted surgery and guidance software powered by artificial intelligence (AI) assist the surgeon through the entire process of implantation.

Moreover, these innovations help in making the orthopedic procedure reliable, effective, less time consuming and convenient. In addition, 3D printing in the manufacturing of specialised implants is one of the major trends observed in the orthopedic implants market. The 3D technology is used to develop an efficient multi layered composite implant that is used in several orthopedic procedures. In addition to robotic assistance in surgeries, advent of internal fixation devices and bioresorbable implants is likely to create new avenues in the market. With further technological advances, there is a likelihood of development of novel implant procedures and new innovations backed by AI, machine learning, and IoT. Such innovations are expected to pave potential opportunities for growth of the orthopedic implants market in the coming years.

Joint Reconstruction Procedures to Largely Contribute Toward Value Growth of Orthopedic Implants Market

Joint reconstruction implants have gained significant traction since the recent past and are expected to maintain status quo in the coming years. This is mainly owing to rising aged population suffering from osteoarthritis. Among several joint reconstructions, knee and hip replacement implants are expected to pick up steam, thus contributing towards value growth of the orthopedic implants market. Alternatively, spinal implants are also expected to witness high demand in the coming years. Increase in trauma cases associated with road accidents and sports related injuries have driven the adoption of spinal implants. Moreover, rising prevalence of disc degenerative conditions and spondylitis have fuelled spinal fusion surgeries thus propelling use of spinal implants.

North America Poised to Cement Dominance in Orthopedic Implants Market

Developed nations in North America are poised to dominate the orthopedic implants market. Increasing incidences of orthopedic ailments, bone disorders and rising geriatric population cumulatively contribute towards use of orthopedic implants. In addition, availability of advanced medical facilities and healthcare infrastructure has transformed the orthopedic care condition in the region. Other macro factors such as stable growth in GDP per capita coupled with favorable healthcare incentives offered by government continue to emboss a positive impact on the growth of the market in North America.

Orthopedic Implants Market: Competition Landscape

Major players in the market are focused on introducing new products, collaborations, acquisitions, and facility expansion to gain competitive edge. For instance, in 2022, Smith & Nephew acquired Engage Surgical. This engagement includes acquisition of Engage Surgical’s cement less partial knee system which is compatible with Smith’s robotic surgical system CORI. Same year in March, Zimmer Biomet introduced WalkAI. This model is based on artificial intelligence which helps in identification of patients with low move and walk speed post hip replacements. In 2021, Smith & Nephew launched cementless Total Knee System (TKS). The implant developed using Conceloc Advanced Porous Titanium, is porous in nature and promotes bone health. In December 2021, OrthoSpin was acquired by DePuy.

A few of the key players in global orthopedic implants market include Zimmer Biomet, Stryker, Smith & Nephew, BioTek, Corin Group, Conmed Corporation, Globus Medical, Medtronic, and B. Braun Melsungen AG.

The Global Orthopedic Implants Market Is Segmented As Below:

By Product

• Reconstructive Joint Replacements
  • Knee Replacement Implants
  • Hip Replacement Implants
  • Extremities
• Spinal Implants
  • Spinal Fusion Implants
  • Vertebral Compression Fracture (VCF) Devices
  • Motion Preservation Devices/Non-Fusion Devices
• Trauma
• Orthobiologics
  • Allograft
  • Demineralized Bone Matrix (DBM)
  • Bone Morphogenetic Protein (BMP)
  • Viscosupplementation Products
  • Synthetic Bone Substitutes
  • Others
• Others

By Type

• Knee
• Hip
• Wrist & Shoulder
• Dental
• Spine
• Ankle
• Others

By Biomaterial

• Metallic Biomaterials
  • Stainless Steel
  • Titanium Alloy
  • Cobalt Alloy
  • Others
• Ceramic Biomaterials
• Polymers Biomaterials
• Others

By Region

• North America

• U.S.
• Canada
• Mexico

• Europe

• UK
• France
• Germany
• Russia
• Rest of Europe

• Asia Pacific

• Japan
• South Korea
• India
• China
• Rest of Asia Pacific

• LAMEA

• Latin America
• Middle East
• Africa

Key Elements Included In The Study: Global Orthopedic Implants Market:

• Orthopedic Implants Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2018 - 2021
• Market Value at Regional and Country Level, 2022 - 2029
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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• The segmentation/company profiles/countries depicted above may vary in the actual report.