Orthopedic Implants Market worth $26.47 billion by 2029

The report "Orthopedic Implants Market by Product (Knee, Hip, Elbow, Ankle, Shoulder, Foot, Wrist), Material (Metals: Stainless Steel, Titanium Alloy, Cobalt Chromium, Nitinol; Polymers, Ceramics, Hybrid), End user (Hospitals, ASCs, Trauma) - Global Forecast to 2029", is estimated to reach USD 26.47 billion by 2029 from USD 20.94 billion in 2024, growing at a CAGR of 4.8% from 2024 to 2029. Growth in the elderly population coupled with increasing orthopedic diseases is expected to drive the market. Rise in the number of primary and revision knee, hip, and reverse shoulder arthroplasty procedures are the major growth drivers in this market. Increase in adoption of minimally invasive surgical techniques, which offers benefits such as reduced postoperative pain, shorter hospital stays, quicker recovery time, and lower risks of complications than open traditional surgery is expected to propel the growth of the market. 

Browse 164 market data Tables and 60 Figures spread through 259 Pages and in-depth TOC on "Orthopedic Implants Market by Product (Knee, Hip, Elbow, Ankle, Shoulder, Foot, Wrist), Material (Metals: Stainless Steel, Titanium Alloy, Cobalt Chromium, Nitinol; Polymers, Ceramics, Hybrid), End user (Hospitals, ASCs, Trauma) - Global Forecast to 2029"
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The knee implants segment is to register a significant growth rate over the forecast period of 2024-2029.

Based on the type, the global orthopedic implants market is segmented into knee implants, hip implants, shoulder implants, elbow implants, foot & ankle implants, wrist implants and other implants. The geriatric people are highly prone to osteoporosis, leading to a high incidence of knee fractures that require implants for the repair and reconstruction of fractures, thereby creating more demand in this segment. The rising number of sports related knee injuries supports the increasing use of knee implants, which is expected to increase its utilization in end-user facilities in coming years.

Hybrid implants segment in material type to register a significant growth over the forecast period of 2024-2029

By material, the global orthopedic implants market is segmented into metal and metal alloys, ceramics, polymers and hybrid implants. Hybrid implants provides multiple advantage of various materials such as metals, polymers and ceramics to provide greater durability and strength with improved flexibility which leads to better performance in a load-bearing application. Enhanced biocompatibility and customization to manufacture patient specific implants through 3D printing are driving the growth of this segment.

The hospitals & surgical centers accounted for the major share of the orthopedic implants market by end users in 2023.

The end user segment of the orthopedic implants market includes hospitals & surgical centers and ambulatory & trauma care centers. In 2023, hospitals& surgical centers were dominating the market. The rising interest of clinicians in adopting minimally invasive surgical techniques for operations coupled with growing demand in post-operative care, which are offered in hospitals is propelling the growth of the segment. Most trauma and emergency cases are managed in hospitals, including fractures and accidents requiring emergency orthopedic implants, which is further promoting the growth of the segment.

The Asia Pacific market will register significant growth during the forecast period.

The Asia Pacific orthopedic implants market is estimated to grow significantly from 2024 to 2029. Consistent rise in disposable income and increase in target population is expected to fuel the Asia Pacific region market growth. Moreover, in past few years the APAC region has experienced a rise in investments by governments and major players, offering significant growth opportunities for the key players. Also, increasing focus of key players in Asia Pacific market and presence of small and medium sized enterprises in the asia pacific region fuels the overall orthopaedic implants market.

As of 2023, prominent players in the orthopedic implants market are Stryker Corporation (US), Zimmer Biomet Holdings, Inc. (US), Johnson & Johnson MedTech (US), Smith+Nephew (UK), B. Braun (Germany).

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