Orthopedic Implants Market, by Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, Others), by Biomaterial (Metallic Biomaterials, Ceramic Biomaterials, Polymeric Biomaterials, Others), by Type (Knee, Hip, Wrist and Shoulder, Dental, Spine, Ankle, Others) : Global Opportunity Analysis and Industry Forecast, 2024 - 2033

Key Market Dynamics 

The main factor which contributes to the growth of the global orthopedic implant market is rise in number of orthopedic disorders such as impairments in the muscles, bones, joints, and adjacent connective tissues leading to temporary or lifelong limitations in functioning and participation. For instance, a report by Centers for Disease Control and Prevention (CDC) 2021, estimated 78.4 million adults aged 18 years and older will have doctor-diagnosed arthritis by 2040. Thus, the rise in orthopedic disorders results in demand for orthopedic implants, thereby driving the orthopedic implants market size.  

In addition, technological advancements have led to significant improvements in the design and materials used in orthopedic implants, which have made them more effective and durable, thus driving the growth of the market. For instance, Cuvis Joint Robotic System developed the most advanced surgical cutting-edge robotic technology supporting surgeons with personalized preplanning and obtain precise results for knee replacement surgeries. Thus, such advancements and adoption of orthopedic implant system are expected to drive the market growth. 

Further, the geriatric population is prone to many orthopedic disorders such as arthritis, back pain, and neck pain, which results in rise in demand for orthopedic implants thereby provides orthopedic implants market opportunity. For instance, data by the World Health Organization (WHO) 2021 stated that 1.4 billion of the world’s population is aged 60 years and over and is expected to double by 2050. However, the high cost of orthopedic implant and limited reimbursement policies by insurance companies make them less accessible to patients which may restrain the market growth. On the other hand, a rise in regulatory approvals for orthopedic implants for various new applications, rise in adoption of orthopedic implant, and rise in demand of orthopedic implants for joint disorders is expected to drive the growth during the orthopedic implants market forecast period.

Prevalence Statistics of Orthopedic Disorders   

Rise in number of orthopedic disorders such as impairments in the muscles, bones, joints, and adjacent connective tissues, leading to temporary or lifelong limitations in functioning and participation.  In addition, rise in number of people suffering from other musculoskeletal disorders such as carpal tunnel syndrome, Fibromyalgia, osteoarthritis, and others drive the demand for orthopedic implants. For instance, according to the Institute for Health Metrics and Evaluation, cases of other musculoskeletal disorders are projected to increase by 116% from 2020 to 2050, to an estimated 1, 060 million. In addition, according to data by the World Health Organization (WHO) 2022, 1.71 billion people have musculoskeletal conditions, including low back pain, neck pain, fractures, other injuries, osteoarthritis, amputation, and rheumatoid arthritis.  

Market Segmentation 

The orthopedic implants market is segmented into product type, biomaterial, type, and region. On the basis of product type, the market is segmented into reconstructive joint replacements, spinal implants, dental implants, trauma, orthobiologics, and others. The reconstructive joint replacements segment is further segmented into knee replacement implants, hip replacement implants, extremities that include upper extremity reconstruction, and lower extremity reconstruction.  

In addition, the spinal implants segment is further segmented into spinal fusion implants, vertebral compression fracture (VCF) devices, and motion preservation devices/non-fusion devices. Furthermore, dental implant is further segmented into root form dental implants and plate form dental implants. On the basis of biomaterial, the market is categorized into metallic biomaterials, ceramic biomaterials, polymers biomaterials, and others. On the basis of type, the market is classified into knee, hip, wrist & shoulder, dental, spine, ankle, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. 

Regional/Country Market Outlook 

North America, dominated the orthopedic implants market share in 2023. This is attributed to advanced healthcare infrastructure present in North America facilitates the delivery of orthopedic care. Access to state-of-the-art medical facilities, specialized orthopedic surgeons, and cutting-edge technology ensures that patients have access to high-quality treatment options, including various types of orthopedic implants. The Asia-Pacific region, encompassing countries such as China, Japan, India, and South Korea, presents significant opportunities in the orthopedic implant market. The region's large and diverse population base presents a significant pool of potential patients requiring orthopedic interventions. As lifestyles change and populations age, the prevalence of orthopedic conditions such as osteoarthritis and fractures is expected to rise, thus driving the demand for orthopedic implants. 

• In September 2023, an article published by the National Center for Biotechnology and Information (NCBI) stated that more than 1.5 million fractures each year occur due to osteoporosis in America. Approximately 50% of women and 25% of men aged 50 years and above are at risk of experiencing a fracture linked to osteoporosis. 

• In February 2021, the U.S. Food and Drug Administration approved the Patient Specific Talus Spacer 3D-printed talus implant for humanitarian use. The Patient Specific Talus Spacer is the first in the world and first-of-its-kind implant to replace the talus—the bone in the ankle joint that connects the leg and the foot—for the treatment of avascular necrosis (AVN) of the ankle joint. 

Industry Trends

• An article published by Australian Institute of Health and Welfare in 2023, estimated that 6.9 million or 27% of people in Australia were affected by chronic musculoskeletal conditions, on the basis of self-reported data from the Australian Bureau of Statistics (ABS) 2020–21 National Health Survey (NHS) . 

• An article published by the National Center for Biotechnology and Information (NCBI) in 2023, globally, 494 million people had other musculoskeletal disorders in 2020. 

Competitive Landscape 

The major players operating in the orthopedic implants market include Arthrex, Inc., Colfax Corporation (DJO, LLC) , CONMED CORPORATION, GLOBUS MEDICAL INC., Johnson & Johnson (DEPUY SYNTHES) , Medtronic Plc, NuVasive Inc., Smith & Nephew plc, Stryker Corporation, and Zimmer Biomet Holdings Inc. Other players in orthopedic implants market includes Vast Ortho, B. Braun SE, and so on. 

Recent Key Strategies and Developments in Orthopedic Implants Industry

• In May 2023, Stryker launched the Ortho Q Guidance system, enabling advanced surgical planning and guidance for hip and knee procedures, easily controlled by the surgeon from the sterile field. The system combines new optical tracking options via a redesigned, state-of-the-art camera with sophisticated algorithms of the newly launched Ortho Guidance software to deliver additional surgical planning and guidance capabilities. 

• In November 2022, NuVasive, Inc., the leader in spine technology innovation, focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions, announced the commercial launch of the NuVasive Tube System (NTS) and Excavation Micro, a new minimally invasive surgery (MIS) system that provides comprehensive solutions for both TLIF and decompression. 

• In November 2022, Zimmer Biomet Holdings, Inc., a global medical technology leader, announced the U.S. Food and Drug Administration (FDA) 510 (k) clearance for the Persona OsseoTi Keel Tibia for cementless knee replacement. 

• In October 2022, Johnson & Johnson MedTech announced that DePuy Synthes, the Orthopedics Company of Johnson & Johnson, has received the U.S. Food and Drug Administration (FDA) approval for its TELIGENTM System, an integrated technology platform that enables minimally invasive surgical transforaminal lumbar interbody fusion (MIS-TLIF) procedures through digital tools for visualization and access. 

Key Sources Referred 

• National Center for Biotechnology and Information (NCBI)  

• Centers for Medicare & Medicaid Services (CMS)  

• National Health Service (NHS)  

• Australian Government Department of Health and Aged Care 

• Government of Canada's Health and Wellness 

• Ministry of Health and Family Welfare (MoHFW)  

• National Health Mission (NHM)  

• Ayushman Bharat - Health and Wellness Centers (AB-HWCs)  

• Centers for Disease Control and Prevention (CDC)  

• Food and Drug Administration (FDA)  

• National Institutes of Health (NIH)  

• World Health Organization (WHO)  

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the orthopedic implants market analysis from 2024 to 2033 to identify the prevailing market opportunities.

• The market research is offered along with information related to key drivers, restraints, and opportunities.

• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

• In-depth analysis of the orthopedic implants market segmentation assists to determine the prevailing market opportunities.

• Major countries in each region are mapped according to their revenue contribution to the global market.

• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

• The report includes the analysis of the regional as well as global orthopedic implants market trends, key players, market segments, application areas, and market growth strategies.