ID: MRFR/MED/0342-HCR | February 2021 | Region: Global | 110 pages
Orthopedic Implants Market is expected to exhibit significant growth over the forecast period. The market was valued at approximately USD 6,374.86 Million in 2018 and is projected to reach USD 67 billion at 4.71% CAGR over the forecast period.
Orthopedic implants are manufactured using stainless steel and titanium alloys, as well as from ceramics and polymers. These implants have varied applications in orthopedic injuries, fractures, and many other areas. The rising cases of orthopedic surgeries, growing focus on robotic orthopedic implantation surgeries, and rising research and development in this field are fueling the growth of the orthopedic implants market globally.
However, the high cost of the procedure and the product are restraining the growth of the market.
Braun Melsungen AG (Germany), CONMED Corporation (US), Globus Medical (US), Integra LifeSciences (US), Johnson & Johnson (US), Medtronic (Ireland), NuVasive, Inc. (US), Orthopaedic Implant Company (US), Smith+Nephew (UK), Stryker (US), Wright Medical Group NV (UK), and Zimmer Biomet (US) are some of the Key Players in the Global Orthopedic Implants Market.
The Global Orthopedic Implants Market has been segmented into product type, biomaterial, end user, and region.
Based on Product Type, the market has been segmented into spinal implants, reconstructive joint implants, orthobiologics, and others.
By Biomaterial, has been divided into metallic, polymer, and ceramic.
By End User, has been divided into hospitals, orthopedic centers, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Regional Market Summary
Geographically, the market has been segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas is anticipated to dominate the global orthopedic implants market owing to high investments in orthopedic implants in countries such as the US and Canada, coupled with the increasing activities by key players. For instance, in March 2017, NuVasive, Inc., a medical device company focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions, received US Food and Drug Administration (FDA) 510(k) clearance of the CoRoent Small Interbody System indicated for intervertebral body fusion in the cervical spine.
Europe is expected to hold the second-largest position in the global orthopedic implants market. The rigorous activities such as mergers and joint ventures by many established market players in the European countries fuel the market growth in this region. For example, in February 2017, Smith+Nephew, a company based in the UK, signed a distribution agreement and strategic investment with Leaf Healthcare, Inc.
Asia-Pacific is expected to be the fastest-growing regional market owing to the growing initiatives by the public and private organizations. Also, increasing acceptance of applications of orthopedic implants by patients is contributing to the growth of this market in this region.
The market in the Middle East & Africa holds the least share of the market due to the least amount of initiatives by public bodies. Moreover, many companies are focusing on these countries so as to expand their target audience. For instance, in July 2016, NuVasive, Inc. entered into a definitive agreement to acquire Mega Surgical, the exclusive distributor of NuVasive products in Brazil.
Global Orthopedic Implants Market Share (%), by Region, 2018
Source: Centers for Disease Control and Prevention (CDC), Eurostat, White Papers, Company Presentations, and Annual Reports
Orthopedic Implants Market, by Product Type
Orthopedic Implants Market, by Biomaterial
Orthopedic Implants Market, by End User
Orthopedic Implants Market, by Region
|Market Size||2027: Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Biomaterial and End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Braun Melsungen AG (Germany), CONMED Corporation (US), Globus Medical (US), Integra LifeSciences (US), Johnson & Johnson (US), Medtronic (Ireland), NuVasive, Inc. (US), Orthopaedic Implant Company (US), Smith+Nephew (UK), Stryker (US), Wright Medical Group NV (UK), and Zimmer Biomet (US)|
|Key Market Opportunities||Governments are also investing much in research and developments that are helping the market gain momentum.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The orthopedic implants market is predicted to grow at a 4.71% CAGR between 2020-2027.
The Americas is predicted to dominate the orthopedic implants market.
Increasing cases of orthopedic surgeries, increasing R&D activities, and technological advances are boosting market growth.
High product and procedure cost may restrict market growth.
Key competitors in the orthopedic implants market include Zimmer Biomet (US), Wright Medical Group NV (UK), Stryker (US), Smith+Nephew (UK), Orthopaedic Implant Company (US), NuVasive, Inc. (US), Medtronic (Ireland), Johnson & Johnson (US), Integra LifeSciences (US), Globus Medical (US), CONMED Corporation (US), and Braun Melsungen AG (Germany).