According to the research. Worldwide, an orthopedic implant is a medical device that is surgically inserted into the body to strengthen or replace a damaged bone structure and restore bone function. After achieving the intended results, these implants are either removed or permanently incorporated into the human body.
New York, Jan. 18, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Orthopaedic Implants Market, Global Forecast 2023-2028, Industry Trends, Growth, Inflation Impact, Business Opportunity Analysis” – https: //www .reportlinker.com/p06381976/?utm_source=GNW
Depending on the patient’s condition, the orthopedic surgeon uses different surgical techniques to implant the implants into the body. The correct choice of material for an orthopedic implant depends on its intended use. Orthopedic implants often use ceramics, polymers and metal alloys. These substances have different physical, chemical and biological characteristics that are suitable for certain purposes.
The global orthopedic implants market will grow at a CAGR of 5.51% during the forecast period:
The rapid rise in the geriatric population, which is more prone to orthopedic problems, and the rising prevalence of orthopedic conditions such as arthritis and osteoarthritis are some of the factors driving the growth of the market. In addition, an increase in accidents and injuries, trauma, middle-aged bone disorders, and bone viscosity issues are driving the orthopedic implant market to grow. Moreover, technical developments such as robot-assisted surgical instruments, adoption of implanted medical devices, and widespread use of orthopedic implants for the treatment of musculoskeletal and orthopedic diseases and injuries are driving the growth of the orthopedic implants market.
By Application: Joint Reconstruction holds the lion’s share:
Based on the application, the orthopedic implants market is segmented into joint reconstruction, spinal implants, trauma implants, dental implants, orthobiology, and others. The joint reconstruction segment dominated the market due to the rapid increase in the number of osteoarthritis cases, the rising geriatric population and the technological advancements in joint reconstruction devices. In addition, increased R&D activities and rising healthcare spending will drive the growth of the joint reconstruction segment over the forecast period.
Segments Ceramic & Bioactive Glass and Polymers grow significantly:
Due to the increasing use of ceramics in various treatments for hard tissue repair, the ceramics and bioactive glass sector is growing significantly. On the other hand, the polymers category is predicted to experience growth due to its widespread application as bone cements and load-bearing surfaces for total joint arthroplasty. Moreover, the availability of advanced polymers and biopolymers for various applications is further responsible for driving the polymer biomaterials segment.
Hospitals & Surgery Centers acquire the largest share:
On the basis of end users, the orthopedic implants market is divided into hospitals and surgery centers, orthopedic clinics, and others. Hospitals and surgical centers hold the largest share due to the availability of the latest equipment and technologies, skilled healthcare professionals, and favorable reimbursement policies. Moreover, collaborations between hospitals and key players to create advanced surgical procedures will amplify market growth during the forecast period. Moreover, due to the growing number of orthopedic clinics and technological improvements, the orthopedic clinics segment is expected to grow significantly over the forecast period.
By Region: North America Dominates the Orthopedic Implant Market:
In 2022, North America dominated the global orthopedic implants market due to the presence of several key players in the North American region, the strong penetration of robotic and digital technologies in healthcare, and the increasing prevalence of orthopedic diseases. In addition, the growing geriatric population, gradual movement in favor of minimally invasive techniques and rising R&D expenditures during the forecast period will also contribute to market expansion in the North American region.
On the other hand, the Asia-Pacific region is also set to grow during the forecast period due to the increasing investments of major market participants to increase their regional presence, the rising number of surgeries performed and the rapidly advancing healthcare infrastructure in the region. According to this research report, the global market for orthopedic implants will reach $49.80 billion by 2022.
Covid-19 Impact On The Global Orthopedic Implant Market:
The COVID-19 epidemic negatively impacted the orthopedic implant market as hospitals and health services were drastically downsized due to social distancing measures introduced by governments around the world. As a result, the entire healthcare industry focused on COVID-19 related and lifesaving procedures during the pandemic. In addition, most of the surgical procedures were canceled or postponed, which hindered the growth of the orthopedic implant market. However, the orthopedic implant market regained its growth potential once elective surgeries were performed.
Analysis of the main players:
Conmed Corporation, Medtronic plc, Stryker Corporation, NuVasive Inc, Smith & Nephew Inc, Zimmer Biomet Holdings, Integra Lifesciences Holdings and Baxter are the major players in the global orthopedic implant market. The leading players are implementing strategies such as product innovations, mergers, acquisitions, collaborations, partnerships, joint ventures and new developments to strengthen their global market position in the orthopedic implant market.
This latest report “Global Market Forecast for Orthopedic Implants by Application (Joint Reconstruction, Spinal Implants, Trauma Implants, Dental Implants, Orthobiologics and Others), by Material (Ceramics and Bioactive Glass Biomaterials, Polymer Biomaterials, Calcium Phosphate Cements, Metal Biomaterials, Composites), by end-user (hospitals and surgical centers, orthopedic clinics and others) by region (North America, Europe, Asia Pacific, ROW) Analysis of key players (Conmed Corporation, Medtronic plc, Stryker Corporation, NuVasive Inc, Smith & Nephew Inc, Zimmer Biomet Holdings, Integra Lifesciences Holdings and Baxter) provides a detailed analysis of the global orthopedic implant market.
Application – The global orthopedic implant market has been covered from 6 viewpoints
1. Joint reconstruction
2. Spinal Implants
3. Trauma Implants
4. Dental Implants
Material – Global Orthopedic Implants Market has been covered from 5 points of view
1. Ceramics and bioactive glass biomaterials
2. Polymers Biomaterials
3. Calcium phosphate cements
4. Metal biomaterials
End Users – The global orthopedic implant market has been covered from 3 viewpoints
1. Hospitals and surgery centers
2. Orthopedic clinics
Region – Global Orthopedic Implants Market has been covered from 4 viewpoints
1. North America
3. Asia Pacific
4. Rest of the world
1. Conmed Corporation
2. Medtronic plc
3. Stryker Corporation
4. NuVasive Inc
5. Smith & Nephew Inc
6. Zimmer Biomet Holdings
7. Integra Life Sciences Holdings
Read the full report: https://www.reportlinker.com/p06381976/?utm_source=GNW
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