Industry Report: At 4.70% CAGR, Orthopedic Implants Market Size, Share and Growth Analysis to accrue USD 68.57 Billion by 2025
Pune, Maharashtra, India, September 4 2020 (Wiredrelease) Brandessence Market Research and Consulting Pvt ltd –:Orthopedic Implants Market is valued at USD 49.72 Billion in 2018 and expected to reach USD 68.57 Billion by 2025 with the CAGR of 4.70% over the forecast period.
Rising prevalence of orthopedic injuries and musculoskeletal diseases with increasing ageing population are some factor driving the growth of market.
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Scope of the Orthopedic Implants Market Report:
It is a medical device artificial to replace a missing joint or bone or to support a damaged bone. The medical implant is mostly made-up using stainless steel and titanium alloys for strength and the plastic coating that is done on it acts as an artificial cartilage. There are various types of orthopedic implants can be possible such as fracture fixation, joint resurfacing or replacement, soft tissue replacement, and spinal implants. Orthopedic implants are categorized into two groups including permanent joint replacements and temporary fracture fixation devices. Permanent orthopedic implants includes the, elbow,hip, knee, ankle, shoulder wrist, and finger joints, which are likely to serve in the human body throughout the life span of the patients. On the other hand, temporary orthopedic implants including wires, plates, screws, pins and intramedullary nails are needed to fix broken or fractured bones.
Global orthopedic implants market report covers prominent players like,
Johnson & Johnson (DePuySynthes), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic Plc, Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc, DJO Finance LLC, Globus Medical Inc., Others
The regions covered in this orthopedic implants market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of orthopedic implants is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Orthopedic Implants Market Dynamics –
Increasing prevalence of orthopedic injuries or diseases and the rapid rise in geriatric population. These factors that drive the growth of the global orthopedic implants market. As per NCBI, the majority of artificial joint recipients were 65 years of age or older and fixation device recipients were less than 45 years of age.In the 2017 GBD study, musculoskeletal conditions were the highest contributor to global disability (accounting for 16% of all years lived with disability). However, high cost associated with procedures involving orthopedic implants for treatment and stringent government policies hamper the market growth. Moreover, technological advancement such as robot-assisted surgical tools, acceptance for implantable medical devices, and widespread application of orthopedic implants to treat musculoskeletal, orthopedic diseases, & injuries complement the market growth.Besides, increasing number of joint replacements and sport accidents across the globe would also propel growth during forecast period.
Global Orthopedic Implants Market Segmentation –
By Product Type: Joint Reconstruction, Spinal Implants, Trauma Implants, Dental Implants, Orthobiologics, Others
By End-User: Hospital, Orthopedic Clinic, Ambulatory surgery center, Others
Global Orthopedic Implants Market Regional Analysis –
North America is dominating the orthopedic implants market with the potential rate due to rising awareness among the people about advanced treatment for healthcare. The growth of this market in this region is primarily driven by the growing technological innovation in orthopedic, rise in obesity and growing adoption of inactive lifestyles and also investment in research and development in minimal and cost effectiveorthopedic implants are boost markets region in forecast period.
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