The global orthopedic connectors market is expected to grow during the forecast period owing to several factors. The prevalence of orthopedic conditions, such as rheumatoid arthritis, osteoarthritis, osteoporosis, and others is increasing all over the world. This may increase the demand for orthopedic connectors. There have been various technological advances that may fuel the growth of the market. Furthermore , minimally invasive surgical procedures are becoming more popular due to their low risk of complications and faster recovery. These procedures often require specialized orthopedic connectors that are designed for use with smaller incisions. There is a rise in awareness of the benefits of orthopedic surgeries and their convenience. This, along with novel technologies is expected to increase the market share of the orthopedic connectors market.
The orthopedic connectors market may face some challenges in the upcoming years. Orthopedic connectors are often designed for specific surgical procedures only and may not be adapted for different patient needs. Other than this, the presence of non-invasive or less invasive methods of treatment such as physical therapy or medication may also limit the growth of the market by limiting the demand for orthopedic connectors. In some regions, there have limited access to healthcare facilities. Thus, patients are unable to get necessary surgical procedures or follow-ups that are essential in these treatments. This, as well as the lack of trained surgeons in developing regions, may pose challenges for the market.
Technological innovations are expected to provide lucrative opportunities for players to increase their market share in the orthopedic connectors market. The development of advanced devices and surgical procedures by various industries will fuel the growth of the market. Since there is an increase in the prevalence of osteoarthritis and osteoporosis, there have been several investments in research and development. The development of new and innovative connectors with fewer limitations is under study. Furthermore, with an advance in technology, the demand for the creation of custom implants, for the specific needs of the individual patient may arise. Overall, the orthopedic connectors market is expected to grow as the demand for orthopedic surgeries and implants continues to rise.
New product launches to flourish in the market
There have been various market trends for orthopedic devices in 2022. Robotic-assisted surgeries have gained the attention of various companies for a few years. Along with this, 3-D Printing Technology for Patient-Specific Solutions has also come into the light. With this technology, the construction of connectors specific to the needs of an individual can be achieved. These customized connectors may help to save money and time while providing greater stability and efficacy.
By type: The orthopedic connectors market is categorized as non-absorbable and absorbable. Non-absorbable connectors are used for the construction of orthopedic devices such as plates, screws, rods, and others. They can easily be removed from the body after work without causing any injury or harm to the tissues. Furthermore, absorbable orthopedic connectors are called interconnectors. They are used to connect the bones and bone plates in the body. These are then absorbed by the body after use without causing any harm. They are preferred over non-absorbable connectors due to their ease and lesser chance of infections.
By application: The orthopedic connectors market is segmented into hospital, clinic, and others. In previous years, the hospital application segment had the highest market share. This is due to the availability of a range of devices and better services provided by the hospital. Therefore, this segment is expected to continue dominating the market during the forecast period. The demand for orthopedic connectors in hospitals is expected to grow in the upcoming years.
By region: The orthopedic connectors market is classified into North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in the last few years. This is due to a higher geriatric population, and an increase in road accidents leading to more orthopedic surgical procedures. In the upcoming years, Asia-Pacific is expected to grow at the fastest rate due to incidences of orthopedic disorders and rise in healthcare investments.
Competitive analysis and profiles of the major players in the orthopedic connectors market such as Ai-Medic, Altimed, arthrex, Bioretec ltd., Desoutter medical, EXCELMEDI & ORTHO CARE PRIVATE LIMITED, Medimetal, SOFEMED, surgival, and Zimmer Biomet Holding Inc.
Orthopedic Connectors Market Report Highlights
Key Market Players
Medimetal, arthrex, Altimed, surgival, Ai-Medic, desoutter medical, Zimmer Biomet Holding Inc., SOFEMED, EXCELMEDI & ORTHO CARE PRIVATE LIMITED, bioretec ltd.