U.S (New York)-This Orthopedic Implants Market Report gives evaluation and insights primarily based on authentic consultations with necessary gamers such as CEOs, Managers, Department Heads of Suppliers, Manufacturers, and Distributors etc.
The global orthopedic implants market accounted for $47,261 million in 2016, and is anticipated to reach at $74,796 million by 2023, registering a CAGR of 6.8% from 2017 to 2023. Orthopedic implants are medical devices that are used to replace or provide support to damaged bones or joints. These are fabricated using stainless steel and titanium alloys for strength, with plastic coating that acts as an artificial cartilage. These implants are applicable in orthopedic injuries, treatment of several types of arthritis, and fractures. Orthopedic implants also useful in the joint replacement surgery, which is performed to remove the damaged joint and replace it with a new joint, called prosthesis. The remarkable shift from traditional invasive procedures to minimal invasive surgeries has positively impacted the market growth.
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Rise in prevalence of orthopedic injuries or diseases and the rapid growth in aging population globally drive the market. In addition, technological innovations in the orthopedic implants industry, acceptance for implantable medical devices, and improvement of healthcare infrastructure in the emerging countries further supplement the market growth. However, high cost associated with procedures involving orthopedic implants treatment and stringent government policies hamper the market growth. Furthermore, the untapped emerging economies present lucrative opportunities for the market.
The global orthopedic implants market is segmented based on product, biomaterial, and geography. Based on product, it is classified into reconstructive joint replacements, spinal implants, dental implants, trauma & craniomaxillofacial, orthobiologics, and others. The reconstructive joint replacements market is further divided into knee, hip, and extremities. Spinal implants are further categorized into spinal fusion devices, non-fusion devices/motion preservation devices, and invasive spinal bone stimulators. Dental implants are further bifurcated into root form dental implants and plate form dental implants. Trauma & Craniomaxillofacial are further categorized into screws, plates, staples, and others. Orthobiologics are further classified into allografts, bone graft substitutes, and cell-based matrices. Based on biomaterial, it is classified into metallic, ceramic, polymeric, and natural biomaterials.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in the orthopedic implants market in 2016, and is expected to maintain its dominance throughout the forecast period, owing to increase in R&D activities to develop innovative technologies in orthopedic implants. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the improvement in healthcare facilities, available disposable income, and rapid development in the economic conditions.
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
Product development is the key strategy adopted by market players. The report provides a comprehensive analysis of the key players that operate in the global orthopedic implants market.
KEY MARKET BENEFITS
The study provides an in-depth analysis of the global orthopedic implants market and the current trends and future estimations to elucidate the imminent investment pockets.
The report presents quantitative analysis of the market from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on product assists to understand the trends in the industry.
Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
KEY PLAYERS PROFILED
Zimmer Biomet Holdings, Inc.
Aesculap Implant Systems
Medtronic plc.
Stryker Corporation
Johnson & Johnson (DePuy Synthes)
The Orthopedic Implant Company
Smith and Nephew plc.
Wright Medical Group N.V.
BioTek Instruments, Inc.
Conmed Corporation
The other players in the value chain include (profiles not included in the report)
Arthrex, Inc.
NuVasive, Inc.
Globus Medical, Inc.
Synthes Holding AG
Arthrocare Corporation
Baxter International Inc.
Integra Lifesciences Holdings Corporation
KEY MARKET SEGMENTS
By Product
Reconstructive Joint Replacements
Knee Replacement Implants
Hip Replacement Implants
Extremities
Upper Extremity Reconstruction
Shoulder Implants
Elbow Implants
Hand Wrist Implants
Lower Extremity Reconstruction
Foot Implants
Ankle Implants
Spinal Implants
Spinal Fusion Devices
Thoracolumbar Devices
Cervical Fixation Devices
Interbody Fusion Devices
Non-fusion Devices/Motion Preservation Devices
Balloon Kyphoplasty Devices
Vertebroplasty Devices
Invasive Spinal Bone Stimulators
Dental Implants
Root Form Dental Implants
Plate Form Dental Implants
Trauma & Craniomaxillofacial
Screws
Plates
Staples
Others
Orthobiologics
Allografts
By Biomaterial
Metallic Biomaterials
Polymeric Biomaterials
Ceramic Biomaterials
Natural Biomaterials
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By Geography
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Rest of Europe
Asia-Pacific
Japan
China
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle east
Africa
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type’s and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
Key Benefits of This Market Research:
- Industry drivers, restraints, and possibilities included in the study
- Neutral point of view on the market performance
- Recent enterprise developments and developments
- Competitive panorama and techniques of key players
- Potential and area of interest segments and areas exhibiting promising increase covered
- Historical, current, and projected market size, in phrases of value
- In-depth evaluation of the Market
- Overview of the regional outlook of the Market
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