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Orthopaedic Implants Market

Orthopaedic Implants Market Size, Share & Industry Analysis, By Product Type (Joint Reconstruction, Spinal Implants, Trauma Implants, Orthobiologics, Dental Implants, Others), By Biomaterial (Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, Natural Biomaterials), By End-User (Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centers), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) -- Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

Report Code: MED00769
Report Format: PDF + PPT + Excel
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Report Description

Market Overview:

The global orthopaedic implants market is projected to grow at a CAGR of YY% during the forecast period of 2024-2031, reaching a market size of USD YY billion by 2031 from USD XYZ billion in 2024. North America is expected to dominate the market, driven by the increasing prevalence of orthopaedic disorders, rising geriatric population, and growing adoption of advanced orthopaedic implants. The growth of the orthopaedic implants market is fueled by factors such as the rising incidence of sports injuries and road accidents, growing healthcare expenditure, and technological advancements in orthopaedic implants. However, the high cost of orthopaedic implants and the risk of implant failure may restrain the market growth to some extent.

 

Orthopaedic Implants Market Dynamics:

Increasing Prevalence of Orthopaedic Disorders Driving Market Growth

The growing frequency of orthopaedic illnesses, such as osteoarthritis, rheumatoid arthritis, and osteoporosis, is a major driver of the orthopaedic implants industry. According to the World Health Organisation (WHO), musculoskeletal problems impact over 1.7 billion people worldwide and are the major cause of disability. The growing geriatric population, changing lifestyles, and rising obesity rates all contribute to an increased burden of orthopaedic problems, driving demand for orthopaedic implants. Manufacturers are focussing on developing innovative, patient-specific implants to meet the unique needs of orthopaedic patients.

 

Technological Advancements Fueling Market Expansion

Technological improvements in orthopaedic implants, such as 3D-printed implants, robot-assisted surgery, and smart implants, are major market drivers. These developments provide various advantages, including greater implant fit and lifespan, shorter surgical times and problems, and better patient outcomes. For example, 3D-printed implants allow for the development of patient-specific implants that fit the individual's anatomy, leading in improved implant stability and faster recovery. The growing use of these advanced technologies by healthcare professionals is projected to propel the orthopaedic implants market in the approaching years.

 

High Cost of Orthopaedic Implants Hindering Market Growth

Despite the various advantages, the high cost of orthopaedic implants may limit market expansion, especially in emerging countries and among price-sensitive patients. Orthopaedic implants, particularly those constructed of sophisticated materials or utilising cutting-edge technology, are often expensive. The cost of these implants can be too expensive for those who lack proper health insurance coverage or have limited financial resources. Furthermore, payment rules for orthopaedic implants differ by country and insurance provider, affecting the pricing and accessibility of these devices.

 

Segment Overview

Joint Reconstruction Segment to Dominate the Orthopaedic Implants Market

The joint reconstruction category, which comprises hip, knee, and shoulder implants, is likely to dominate the orthopaedic implants market during the forecast period. The increasing frequency of osteoarthritis, the growing geriatric population, and the growing demand for minimally invasive joint replacement surgeries all contribute to the segment's rise. According to the American Academy of Orthopaedic Surgeons (AAOS), over 7 million Americans have had total joint replacement surgery, and the demand for these treatments is likely to rise dramatically in the future years.

Major orthopaedic implant manufacturers, including Zimmer Biomet, DePuy Synthes (Johnson & Johnson), and Stryker Corporation, are investing heavily in the development of advanced joint reconstruction implants, such as 3D-printed and robot-compatible implants, to meet rising demand and improve patient outcomes. For example, in 2023, Zimmer Biomet introduced a new range of 3D-printed hip implants that provide better bone ingrowth and long-term stability than traditional implants.

 

Regional Outlook:

North America to Dominate the Global Orthopaedic Implants Market

North America is expected to dominate the orthopaedic implants market over the forecast period, owing to factors such as the high prevalence of orthopaedic disorders, the presence of advanced healthcare infrastructure, and the growing adoption of innovative orthopaedic implants. The United States is likely to be the region's main market, given to its huge patient population, favourable reimbursement rules, and the presence of major orthopaedic implant manufacturers.

According to our analysis, the North American orthopaedic implants market is predicted to expand at a CAGR of YY% between 2024 and 2031, surpassing other regional markets. The region has seen tremendous investment in research and development activities targeted at producing sophisticated and patient-specific orthopaedic implants that provide better outcomes and faster recovery times.

Recent market developments in North America include FDA approval of several innovative orthopaedic implants, such as 3D-printed spinal implants and smart knee implants, as well as increased collaboration between orthopaedic implant manufacturers and healthcare providers to improve patient access to these cutting-edge devices.

 

Competitive Intelligence:

The global orthopaedic implants market is extremely competitive, with both established firms and rising startups contending for market dominance. Leading market players include Zimmer Biomet, DePuy Synthes (Johnson & Johnson), Stryker Corporation, Smith & Nephew plc, Medtronic plc, NuVasive, Inc., Wright Medical Group N.V., Globus Medical, Inc., Arthrex, Inc., and Ossur hf., among others.

Mergers and acquisitions, product innovation, and regional growth are among the techniques used by these organisations to enhance their market positions and increase their product portfolios. Stryker Corporation, for example, purchased Wright Medical Group N.V. in 2022 to strengthen its extremities and biologics offerings while also expanding its global reach.

The competitive landscape of the orthopaedic implants market is also driven by the growing emphasis on value-based healthcare, with businesses offering implants and solutions that enhance patient outcomes, reduce complications, and cut total healthcare costs.

 

Analyst Opinion:

The orthopaedic implants market is expected to develop rapidly in the next years, owing to the rising prevalence of orthopaedic illnesses, a growing elderly population, and increased acceptance of advanced orthopaedic implants. The market will grow especially rapidly in North America, which has a big patient population, advanced healthcare infrastructure, and prominent orthopaedic implant manufacturers.

The joint reconstruction category is likely to lead the market, owing to the high prevalence of osteoarthritis and the growing desire for minimally invasive joint replacement procedures. However, the high cost of orthopaedic implants may continue to be an issue, particularly in poorer nations and with price-sensitive patients.

To survive in this competitive industry, orthopaedic implant producers must focus on developing novel and patient-specific implants that provide better outcomes, shorter recovery times, and reduced overall healthcare costs. Strategic collaborations, mergers and acquisitions, and regional expansion will all be critical to gaining a competitive advantage and expanding market reach.

Overall, the orthopaedic implants market has substantial development potential, driven by rising demand for sophisticated and effective solutions to orthopaedic problems. Companies that provide innovative, high-quality, and cost-effective orthopaedic implants are anticipated to experience significant growth in the next years.

 

Major Players:

  • Zimmer Biomet

  • DePuy Synthes (Johnson & Johnson)

  • Stryker Corporation

  • Smith & Nephew plc

  • Medtronic plc

  • NuVasive, Inc.

  • Wright Medical Group N.V.

  • Globus Medical, Inc.

  • Arthrex, Inc.

  • Ossur hf.

 

Key Developments:

  • In September 2024, Zimmer Biomet got FDA approval for its new range of 3D-printed spinal implants, which are intended to improve spinal fusion outcomes and reduce complications.

  • Stryker Corporation introduced a new robotic technology for knee replacement surgery in November 2024, which provides greater accuracy and precision than traditional approaches.

Table of Content

1. INTRODUCTION

   1.1. Market Definitions & Study Assumptions

   1.2. Market Research Scope & Segment

   1.3. Research Methodology

 

2. EXECUTIVE SUMMARY

   2.1. Market Overview & Insights

   2.2. Segment Outlook

   2.3. Region Outlook

 

3. COMPETITIVE INTELLIGENCE

   3.1. Companies Financial Position

   3.2. Company Benchmarking -- Key Players

   3.3. Market Share Analysis -- Key Companies

   3.4. Recent Companies Key Activities

   3.5. Pricing Analysis

   3.6. SWOT Analysis

 

4. COMPANY PROFILES (Key Companies list by Country) (Premium)*

 

5. COMPANY PROFILES

   5.1. Zimmer Biomet

   5.2. DePuy Synthes (Johnson & Johnson)

   5.3. Stryker Corporation

   5.4. Smith & Nephew plc

   5.5. Medtronic plc

   5.6. NuVasive, Inc.

   5.7. Wright Medical Group N.V.

   5.8. Globus Medical, Inc.

   5.9. Arthrex, Inc.

   5.10. Ossur hf. (*LIST NOT EXHAUSTIVE)

 

6. MARKET DYNAMICS

   6.1. Market Trends

        6.1.1. Increasing Adoption of 3D-Printed Implants

        6.1.2. Growing Preference for Minimally Invasive Surgeries

        6.1.3. Rising Demand for Patient-Specific Implants

   6.2. Market Drivers

        6.2.1. Increasing Prevalence of Orthopaedic Disorders

        6.2.2. Rising Geriatric Population

        6.2.3. Growing Incidence of Sports Injuries and Road Accidents

   6.3. Market Restraints

        6.3.1. High Cost of Orthopaedic Implants

        6.3.2. Risk of Implant Failure and Complications

   6.4. Market Opportunities

   6.5. Porter's Five Forces Analysis

        6.5.1. Threat of New Entrants

        6.5.2. Bargaining Power of Buyers/Consumers

        6.5.3. Bargaining Power of Suppliers

        6.5.4. Threat of Substitute Products

        6.5.5. Intensity of Competitive Rivalry

   6.6. Supply Chain Analysis

   6.7. Value Chain Analysis

   6.8. Trade Analysis

   6.9. Pricing Analysis

   6.10. Regulatory Analysis

   6.11. Patent Analysis

   6.12. SWOT Analysis

   6.13. PESTLE Analysis

 

7. BY PRODUCT TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   7.1. Joint Reconstruction

        7.1.1. Hip Implants

        7.1.2. Knee Implants

        7.1.3. Shoulder Implants

        7.1.4. Other Joint Implants

   7.2. Spinal Implants

        7.2.1. Thoracolumbar Implants

        7.2.2. Cervical Implants

        7.2.3. Interbody Implants

        7.2.4. Motion Preservation Devices

   7.3. Trauma Implants

        7.3.1. Internal Fixators

        7.3.2. External Fixators

        7.3.3. Craniomaxillofacial Implants

   7.4. Orthobiologics  

        7.4.1. Bone Morphogenetic Proteins (BMPs)

        7.4.2. Viscosupplementation Products

        7.4.3. Other Orthobiologics

   7.5. Dental Implants

        7.5.1. Root Form Dental Implants

        7.5.2. Plate Form Dental Implants

   7.6. Others

 

8. BY BIOMATERIAL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)

   8.1. Metallic Biomaterials

        8.1.1. Titanium

        8.1.2. Stainless Steel

        8.1.3. Cobalt-Chromium

        8.1.4. Other Metallic Biomaterials

   8.2. Polymeric Biomaterials

 

*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (% (2020-2031)

Scope of the Report

By Product Type:

  • Joint Reconstructio

  • Spinal Implant

  • Trauma Implant

  • Orthobiologic

  • Dental Implant

  • Others

By Biomaterial:

  • Metallic Biomaterial

  • Polymeric Biomaterial

  • Ceramic Biomaterial

  • Natural Biomaterial

By End-User:

  • Hospitals

  • Orthopaedic Clinics

  • Ambulatory Surgical Centers

By Region:

  • North Americ

  • Europ

  • Asia-Pacifi

  • Latin Americ

  • Middle East & Afric

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