The Brainy Insights launched a study titled Orthopedic Implants Market Size by Type (Wrist & Shoulder, Ankle, Hip, Dental, Spine, Knee, and Others), Biomaterial (Ceramic Biomaterials, Polymeric Biomaterials, Metallic Biomaterials, and Others), Product Type (Dental Implants, Reconstructive Joint Replacements, Trauma, Spinal Implants, Orthobiologics, and Others) Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
The global orthopaedic implants market is expected to grow from USD 46.27 billion in 2021 to USD 71.16 billion by 2030, at a CAGR of 4.9% during the forecast period 2022-2030. The increasing number of outsourcing through original equipment manufacturers (OEMs) and supplier collaborations that continue to aid outsourced manufacturers is anticipated to boost demand for orthopedic implants. Moreover, the upsurge in the prevalence of orthopedic diseases or injuries like arthritis & osteoarthritis promotes the market's growth during the forecast period. Furthermore, the consumption in back pain treatments and the prevalence of orthopedic injuries like shoulder dislocation & wrist fracture are also helping to support the market growth.
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The knee type segment led the market with a market value of around 10.26 billion in 2021.
The type segment is divided into wrist & shoulder, ankle, hip, dental, spine, knee, and others. The kneetype segment led the market with a market value of around 10.26 billion in 2021. This growth is attributed to the upgrade in road accidents, sports injuries, and others.
The metallic biomaterial segment led the market with a market value of around 15.03 billion in 2021.
The biomaterial segment is divided into ceramic biomaterials, polymeric biomaterials, metallic biomaterials, and others. The metallic biomaterial segment led the market with a market value of around 15.03 billion in 2021. This growth is attributed to the increasing aging population and growing demand for medical implants.
The reconstructive joint replacements product type segment led the market with a market value of around 11.65 billion in 2021.
The product type segment is divided into dental implants, reconstructive joint replacements, trauma, spinal implants, orthobiologics, and others. The reconstructive joint replacements product type segment led the market with a market value of around 11.65 billion in 2021. This growth is attributed to the advancement in the number of orthopedic surgeries and growing disposable income. Furthermore, rising demand for minimally invasive approaches and increasing healthcare expenditure also help to boost the segment’s growth.
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Regional Segmentation Analysis:
The market is analyzed based on five regions namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The North America region emerged as the largest global orthopedic implants market with a market value of around 18.66 billion in 2021. North America currently dominates the orthopedic implants market, and this trend is expected to continue during the forecast period. This growth is attributed to the proliferation of several joint reconstruction surgeries and new technological advancements & product innovations.
Competitive Analysis:
The major players of market include Medtronic Plc, CONMED Corporation, Arthrex Inc. Stryker Corporation, Johnson & Johnson (DePuy Synthes), DJO Finance LLC, Smith and Nephew Plc., and Zimmer Biomet Holdings Inc., and among others.
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