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2021
Orthopedic Implants Market

Orthopedic Implants Market

by Product (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, and Others), Type (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, and Others), and Biomaterial (Metallic Biomaterials, Ceramic Biomaterials, Polymers Biomaterials, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.

Report Code: A01845
Pages: 401
Nov 2021 | 38485 Views
Author(s) : Hemalatha K, Monika D , Onkar S
Tables: 140
Charts: 86
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Global orthopedic implants market accounted for $45,053 million in 2020 is expected to reach $68,804.1 million by 2030, registering a CAGR of 4.7% from 2020 to 2030.

The COVID-19 pandemic has negatively impacted orthopedic implant market as hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the world. In addition, as many hospitals and clinics remained closed due to lockdown, the demand for orthopedic implants is expected to be subdued in the short term. Thus, the outbreak of COVID-19 has negatively impacted the market.

Orthopedic implant is a medical device manufactured to replace a missing joint or bone or to support a damaged bone. The medical implant is mainly fabricated using stainless steel and titanium alloys for strength and the plastic coating that is done on it acts as an artificial cartilage. These are primarily used in minimally invasive surgeries that are used for treating spinal injuries and lumbar spinal stenosis. 

Orthopedic-Implants-Market-2021-2030

Increase in prevalence of orthopedic injuries or diseases such as arthritis, osteoarthritis, and the rapid rise in geriatric population who are more prone to orthopedic disorders are some factors that drive the growth of the market. In addition, technological innovations, such as robot-assisted surgical tools, acceptance for implantable medical devices, and widespread application of orthopedic implants to treat musculoskeletal, orthopedic diseases, & injuries further supplement the market growth. However, high cost associated with procedures involving orthopedic implants for treatment and stringent government policies hamper the market growth. Furthermore, the emerging economies present lucrative opportunities for the market.

The outbreak of COVID-19 has disrupted workflows in the healthcare sector around the world. The disease has forced a number of industries to shut their doors temporarily, including several sub-domains of health care. Moreover, there has also been a negative effect on various services, including orthopedic implant. For instance, according to the Commonwealth Fund, it was estimated that there was a nearly 60% initial decrease in overall outpatient visits by May 2020 due to COVID-19. This was expected to negatively affect the demand for orthopedic sessions as they are usually conducted in outpatient departments. In addition, according to article published in Europe PMC, the pandemic has affected outpatient clinics, emergency and elective surgery, rehabilitation, resident training, personnel management, use of personal protective equipment, telemedicine, and all sub-specialties of orthopedics. 

The outbreak of COVID-19 impacted the market, as hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the world. Moreover, the COVID-19 pandemic affected the global economy and showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. As many hospitals and clinics remain closed due to lockdowns, the demand for orthopedic implants is expected to be subdued in the short term. For instance, according to a study published in the British Journal of Surgery, in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide were canceled or postponed in 2020.

Orthopedic Implants Market Segmentation  

The global medical cannabis market is segmented on the basis of product, type, biomaterial, and region to provide a detailed assessment of the market. Based on product, the market is divided into reconstructive joint replacements, spinal implants, dental implants, trauma, orthobiologics, and others that include sports medicine, cages, angled blades, power tools, arc bars, bone taps, cannulated reamers, bone hooks, bone levers retractors, distractors, finger implants, skull implants, sutures, jawbone implants, arm implants, and pelvis implants. The reconstructive joint replacements segment is again segmented into knee replacement implants, hip replacement implants, and extremities include upper extremity reconstruction, and lower extremity reconstruction. In addition, spinal implants segment is further divided into spinal fusion implants, vertebral compression fracture (VCF) devices, and motion preservation devices/non-fusion devices. Furthermore, dental implant is again classified into root form dental implants and plate form dental implants. Moreover, orthobiologics segment is further segmented into demineralized bone matrix (DBM), allograft, bone morphogenetic protein (BMP), viscosupplementation products, synthetic bone substitutes, and others.

On the basis of type, the market is classified into knee, hip, wrist & shoulder, dental, spine, ankle, and others that include finger implants, thigh implants, elbow implants, maxillofacial implants, and others. Depending on biomaterial, it is differentiated into metallic biomaterials, ceramic biomaterials, polymers biomaterials, and others that include protein and polysaccharide. Metallic biomaterials are further segmented into stainless steel, titanium alloy, cobalt alloy, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Segment Review

Based on product, the market is segmented into reconstructive joint replacements, spinal implants, dental implants, trauma, orthobiologics, and others that include sports medicine, cages, angled blades, power tools, arc bars, bone taps, cannulated reamers, bone hooks, bone levers retractors, distractors, finger implants, skull implants, sutures, jawbone implants, arm implants, and pelvis implants. The reconstructive joint replacements segment is again segmented into knee replacement implants, hip replacement implants, extremities include upper extremity reconstruction, and lower extremity reconstruction. In addition, spinal implants segment is further divided into spinal fusion implants, vertebral compression fracture (VCF) devices, and motion preservation devices/non-fusion devices. Furthermore, dental implant is again classified into root form dental implants and plate form dental implants. Moreover, orthobiologics segment is further segmented into demineralized bone matrix (DBM), allograft, bone morphogenetic protein (BMP), viscosupplementation products, synthetic bone substitutes, and others. The reconstructive joint replacements segment is estimated to garner largest share during the forecast period. This segment is expected to maintain its dominant position throughout the analysis period, owing to rise in prevalence of osteoporosis and osteoarthritis, and investment of key players in R&D of orthopedic implants. On the other side, the orthobiologics segment is the fastest growing segment during the forecast period, owing to rise in demand for advanced therapies, minimally invasive procedures, and surge in patient awareness toward the use of orthobiologics.

Orthopedic Implants Market
By Product

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Reconstructive Joint Replacements segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.

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Based on biomaterial, it is classified into metallic biomaterials, ceramic biomaterials, polymers biomaterials, and others that include protein and polysaccharide. Metallic biomaterials are further segmented into stainless steel, titanium alloy, cobalt alloy, and others. The metallic biomaterials segment occupied the largest share in 2020, owing to cost-effectiveness of these materials. Metallic biomaterials provide efficacy of bone healing as compared to other materials. These are used to manufacture various orthopedic implants such as screws, plates, vertebral compression fracture (VCF) devices, and others. However, other biomaterials are estimated to register the highest CAGR during the forecast period. This is due to the growing demand for these materials, owing to their several advantages over synthetic biomaterials. These advantages include biocompatibility, no toxicity, and may also carry specific protein binding sites and other biochemical signals that can help in the process of tissue healing or integration.

Based on type, it is segmented into knee, hip, wrist & shoulder, dental, spine, ankle, and others include finger implants, thigh implants, elbow implants, maxillofacial implants, and others. The knee segment accounted for the highest share in 2020, and is anticipated to maintain this trend during the forecast period, owing to increase in demand for knee implants due to increase in prevalence of orthopedic diseases and rise in road accidents, sport injuries, and others. However, spine is estimated to register the highest CAGR during the forecast period due to increase in geriatric population, rise in incidence of spinal disorders, and expansion in the indications for which spinal fusion surgery is performed.

Orthopedic Implants Market
By Biomaterial

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Metallic Biomaterial segment is projected as one of the most lucrative segment.

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Snapshot of the Asia-Pacific Orthopedic Implants Market  

Asia-Pacific offers profitable opportunities for key players operating in the orthopedic implants market, thereby registering the fastest growth rate during the forecast period, owing to development in healthcare infrastructure, improvement in health awareness, and rise in diagnosis. Moreover, increase in the number of surgical procedures in emerging economies, such as India and China, is the major factor that fuels the market growth.   

The key market players profiled in the report include Johnson & Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic Plc, NuVasive, Inc., Smith and Nephew Plc., CONMED Corporation., Arthrex, Inc., DJO Finance LLC, and Globus Medical Inc.

Orthopedic Implants Market
By Region

2030
North America 
Europe
Asia-Pacific
LAMEA

North America is expected to experience growth at the highest rate, registering a CAGR of 4.5 % during the forecast period.

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Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the global orthopedic implants market along with the current trends and future estimations to explain the imminent investment pockets.
  • A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
  • Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
  • Extensive analysis of the key segments of the industry helps to understand the application and products of orthopedic implants used across the globe.
  • Key market players and their strategies have been analyzed to understand the competitive outlook of the market.

Orthopedic Implants Market Report Highlights

Aspects Details
By Product
  • Reconstructive Joint Replacements
    • Knee Replacement Implants
    • Hip Replacement Implants
    • Extremities
      • Upper Extremity Reconstruction
        • Elbow
        • Shoulder
        • Hand Wrist
      • Lower Extremity Reconstruction
        • Upper
        • Lower
  • Spinal Implants
    • Spinal Fusion Implants
      • Thoracolumbar Devices
      • Cervical Fixation Devices
      • Interbody Fusion Devices
    • Vertebral Compression Fracture (VCF) Devices
      • Balloon Kyphoplasty Devices
      • Vertebroplasty Devices
    • Motion Preservation Devices/Non-Fusion Devices
      • Dynamic Stabilization Devices
      • 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
  • 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, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (India, China, Japan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
By Key Market Players
  • Johnson & Johnson (DePuy Synthes),
  • Zimmer Biomet Holdings, Inc.,
  • Stryker Corporation,
  • Medtronic Plc,
  • NuVasive, Inc.,
  • Smith and Nephew Plc.,
  • CONMED Corporation.,
  • Arthrex, Inc.,
  • DJO Finance LLC
 

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The adoption of orthopedic implants (such as orthopedic rods, plates, prosthesis) is expected to witness a significant rise with increase in prevalence of orthopedic diseases and rapid growth in aging population. The orthopedic implants market has piqued the interest of healthcare providers owing to numerous benefits offered by these devices to treat several clinical disorders. There has been remarkable technological advancements to provide advanced treatment options for the management of orthopedic diseases. As the market is saturated with steady growth rate in developed nations, the Asia-Pacific and LAMEA regions are expected to offer high growth opportunities to the key players.

An orthopedic implant is a medical device that is surgically placed in the body. These medical devices are designed to restore function by replacing or reinforcing a damaged structure due to any accident or medical conditions. Growth in incidence of orthopedic diseases, surge in geriatric population across the globe, technological advancements, rise in acceptance of orthopedic implants, and improvement of healthcare infrastructure in emerging nations are some of the major factors that drive this market. However, high cost of implants associated procedures, reimbursement issues, and stringent regulatory policies for the approval of these implants are expected to restrain the market growth. In addition, emerging markets gain more importance for the majority of the orthopedic implant manufacturers and distributors. Rapid growth was observed in the shipments of these devices to provide improved healthcare services in emerging nations, and this is expected to offset the challenging conditions in mature markets such as North America and Europe. North America is expected to dominate the global orthopedic implants market during the forecast period, followed by Europe.

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FREQUENTLY ASKED QUESTIONS?

A. The total market value of Orthopedic Implants market is $45,053.00 million in 2020.

A. The forcast period for Orthopedic Implants market is 2021 to 2030

A. The market value of Orthopedic Implants market in 2021 is $45,593.70 million.

A. The base year is 2020 in Orthopedic Implants market

A. Top companies such as Johnson & Johnson, Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic Plc, and Smith and Nephew plc. held a high market position in 2020.

A. Reconstructive joint replacements segment is the most influencing segment owing to rise in prevalence of osteoporosis and osteoarthritis, and investment of key players in R&D of orthopedic implants.

A. Rise in prevalence of orthopedic injuries or diseases and the rapid rise in geriatric population. In addition, technological innovations, such as robot-assisted surgical tools, acceptance for implantable medical devices, and widespread application of orthopedic implants to treat musculoskeletal, orthopedic diseases, & injuries further supplement the market growth.

A. Asia-Pacific is expected to experience the highest growth rate during the forecast period, owing to development in healthcare infrastructure, improvement in health awareness and rise in diagnosis, rise in incidences of orthopedic disease such as arthritis, Osteoarthritis and others.

A. Orthopedic implants are medical devices that are used to replace or provide support to damaged bones or joints.

A. Orthopedic Implants usedto restore bone function by reinforcing or replacing a damaged structure.

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