Global Orthopedic Implants Market is expected to grow at a CAGR of 6.90% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Orthopedic Implants Market by Product (Reconstructive Joint Replacement, Spinal Implants, Dental Implants, Other), Biomaterial, Regions, and Global Forecast 2018-2025.
As per the report, the global orthopedic implants market is expected to grow from USD 5.26 Billion in 2017 to USD 8.97 Billion by 2025, at a CAGR of 6.90% during the forecast period from 2018-2025. North America region emerged as the leader in the global orthopedic implants market with a 54.71% share of total market revenue in 2017.
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Key players in the global orthopedic implants market are Depuy Synthes Inc., Globus Medical, Inc., NuVasive, Inc., Smith & Nephew plc. Stryker Corporation, Zimmer Biomet Holdings, Inc., Integra LifeSciences Holdings Corporation, Medtronic, plc, The Orthopedic Implant Company, Wright Medical Group N.V., Aesculap Implant Systems, BioTek Instruments, Inc., Conmed Corporation, Arthrocare Corporation, Arthrex, Inc., Baxter International Inc, DePuySynthes, and among others. Asia Pacific region and India and China specifically have emerged as the lucrative market for the orthopedic implants. Thus all the major players are vying to attain the maximum possible share of this market. For instance MicroPort Scientific in 2018, announced its foray into Indian markets of orthopaedic implants with its full range of globally acclaimed products. The launch is a major step in the direction of becoming a key player in the medical devices space in the country.
Product segment is divided into reconstructive joint replacements, spinal implants, dental implants, trauma & craniomaxillofacial, orthobiologics and others. Reconstructive joint replacements segment is further divided into knee, hip, and extremities. Spinal implants are further subcategorized into spinal fusion devices, non-fusion devices/motion preservation devices, and invasive spinal bone stimulators. Dental implants are further divided into root form dental implants and plate form dental implants. Trauma & Craniomaxillofacial are further subcategorized into screws, plates, staples, and others. Orthobiologics are further divided into allografts, bone graft substitutes, and cell-based matrices. Increasing prevalence of the orthopedic ailments such as osteoporosis and osteoarthritis among the elderly people is generating a huge demand for the hip and joint orthopedic replacement devices. Thus, the reconstructive joint replacements segment led the global orthopedic implants with market share of 29.78% in 2017. Owing to increasing prevalence of spondylolisthesis and disc degenerative conditions the Spinal implants segment is projected to grow an accelerated CAGR of 8.96% over the forecast period. Biomaterial is segment categorized into ceramic, metallic, polymeric and natural biomaterials. Factors such as load bearing properties, resistant to fatigue degradation and can be sterilized easily before use, led metallic segment to dominate global orthopedic implants market with market share of 37.69% in 2017. On account of their easy to manufacture and modify and biodegradable properties the Natural biomaterials segment is projected to grow at the fastest CAGR of 9.04% over the forecast period.
Factors such as global increase in geriatric population, rising incidence of orthopedic diseases as well as are driving the global orthopedic implants market. Whereas high cost of orthopedic implants and stringent approval process are the factors that are anticipated to dampen the market growth.
About the report:
The global orthopedic implants market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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