Orthopedic Implants Market

Market Definition:

The Orthopedic Implants Market was valued at USD 50.12 billion in 2019 and is predicted to reach USD 81.34 billion by 2030 with a CAGR of 4.5% from 2021-2030.

An orthopedic implant is a medical device manufactured using stainless steel, titanium alloy and cobalt-chromium alloy to replace a damaged joint or bone. These devices are implanted into patient’s body through internal fixation surgeries in order to reduce joint movement related pains and thereby increase his mobility. Orthopedic implants are divided into two groups such as permanent joint replacements and temporary fracture fixation devices. Permanent joint replacement implants include ankle, shoulder, hip, knee, wrist and finger joints. On the other hand, temporary fixation implants include screws, plates, pins and wires.

Market Dynamics and Trends

Increasing geriatric population across the globe has resulted into the surging demand for orthopedic implants as the old aged people suffer mostly from osteoarthritis, rheumatoid arthritis, osteoporosis and other musculoskeletal disorders. Also, factors such as increasing number of road accidents, usage in back pain treatments and prevalence of orthopedic injuries such as wrist fracture, and shoulder dislocation among others are expected to fuel the market growth. Moreover, rising number of spinal surgeries, increasing cases of trauma, fractures and low bone density problems are factors lifting the orthopedic implants market growth.

However, high cost associated with the orthopedic implant’s treatment, limited reimbursement coverage and various risk associated with metal implants such as implant failure, postoperative infections, and joint stiffness among others are major factors restraining the orthopedic implants market growth. On the contrary, various technological advancements in the field of orthopedic implants and modernization of healthcare facilities will create ample growth opportunities for the orthopedic implants market players in the coming years.

Market Segmentations and Scope of the Study:

The global orthopedic implants market is segmented on the basis of product type, biomaterial, type and geography. On the basis of product type, the market is categorized into reconstructive joint replacements, spinal implants, dental implants, trauma and ortho biologics and others. The reconstructive joint replacements are divided into knee replacement implants, hip replacement implants, extremities and lower extremity reconstruction. The extremities segment is further sub divided into shoulder, elbow and wrist. The lower extremity reconstruction is further segmented into upper extremity and lower extremity. The spinal implants are further classified into spinal fusion devices, vertebral compression fracture (VCF) devices, motion preservation devices/non-fusion devices, Artificial disc replacement devices, annulus repair devices and nuclear disc prostheses. The dental implants are also sub segmented into root form dental implants and plate form dental implants. The orthobiologics segment is further classified into demineralized bone matrix (DBM), allograft, bone morphogenetic Protein (BMP), viscosupplementation products, synthetic bone substitutes and others. On the basis of biomaterial, the market is divided into metallic, ceramic, polymeric, and others. The metallic segment is further sub segmented into stainless steel, titanium alloy, cobalt alloy and others. On the basis of type, the market is categorized into knee, hip, wrist & shoulder, dental, spine, ankle, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the lion share of the orthopedic implants market during the forecast period. This is attributed to factors such as increase in the number of osteoarthritis patients, technological innovations in the field of orthopedic implants and improved healthcare infrastructure in this region.

However, Asia Pacific is expected to witness the highest growth rate during the forecast period owing to factors such as rising awareness regarding orthopedic implants and development in healthcare infrastructure. Besides, surging number of road accidents in developing countries especially in India due to lack of lane discipline, usage of mobile phones while driving and behavioral misconduct is expected to boost the market growth in this region.

Competitive Landscape

The key players of the orthopedic implants market are Johnson & Johnson, Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc., DJO Finance LLC, and Globus Medical Inc. These market players are focusing on the research and development of advanced implants and strategic collaboration to help the market prosper in near future. For instance, in December, 2020, Zimmer Biomet Holdings, Inc. announced that it had acquired A & E Medical and its sterna closure devices including sterna sutures, rigid fixation and cable system for $150 million.

Also, in October 12, 2020, Medtronic Plc had launched Adaptix Interbody System, a 3D titanium implant which fulfils the universal demand of fusion surgery. The system has nano-surface technology features for bone growth and it is easy to place.

KEY BENEFITS

• The orthopedic implants market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the orthopedic implants market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the orthopedic implants market is provided in the report.

• The competitive analysis of the market players along with their market share in the orthopedic implants market

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS

By Product Type

• Reconstructive Joint Replacements

  • Knee Replacement Implants

  • Hip Replacement Implants

  • Extremities

    • Upper Extremity

      • Shoulder

      • Elbow

      • Wrist

    • Lower Extremity

      • Upper

      • Lower

• Spinal Implants

  • Spinal Fusion Devices

    • Thoracolumbar Devices

    • Cervical Fixation Devices

    • Interbody Fusion Devices

• Vertebral Compression Fracture (VCF) Devices

  • Balloon Kyphoplasty Devices

  • Vertebroplasty Devices

  • Interbody Fusion Devices

• Motion preservation devices/non-fusion devices

  • Dynamic Stabilization Devices

  • Artificial Disc Replacement Devices

  • Annulus Repair Devices

  • Nuclear Disc Prostheses

• Artificial Disc Replacement Devices

• Annulus Repair Devices

• Nuclear Disc Prostheses

• Dental Implants

  • Root Form Dental Implants

  • Plate Form Dental Implants

• Trauma

• Orthobiologics

  • Demineralized Bone Matrix (DBM)

  • Allograft

  • Bone Morphogenetic Protein (BMP)

  • Viscosupplementation Products

  • Synthetic Bone Substitutes

  • Others

By Biomaterial

• Metallic Biomaterials

  • Stainless Steel

  • Titanium Alloy

  • Cobalt Alloy

  • Others

• Polymeric Biomaterials

• Ceramic Biomaterials

• Others

By Type

• Knee

• Hip

• Wrist & Shoulder

• Dental

• Spine

• Ankle

• Others

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Austrealia

  • Rest of Asia-Pacific

• RoW

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

KEY PLAYERS

• Johnson & Johnson
• Zimmer Biomet Holdings, Inc.
• Stryker Corporation
• Wright Medical Group N.V.
• Smith and Nephew Plc.
• CONMED Corporation.
• Arthrex, Inc.
• DJO Finance LLC.
• Globus Medical Inc.

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Analysis Period	2019–2030
Base Year Considered	2020
Forecast Period	2020–2030
Market Size Estimation	Billion (USD)
Market Segmentation	By Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orth biologics, and Others), by Biomaterial (Metallic, Ceramic, Polymeric, and Others) and by Type (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, and Others)
Geographical Segmentation	North America (U.S., Canada, Mexico) Europe (UK, Germany, Italy, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of the World (Saudi Arabia, South Africa, Brazil, Remaining Countries)
Companies Profiled	Johnson & Johnson, Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc., DJO Finance LLC, and Globus Medical Inc.