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Global Orthopaedic Implants Market to Reach USD 75 Billion by 2026, Driven by Rising Geriatric Population

According to a new report by EMR titled, 'Global Orthopaedic Implants Market Report and Forecast 2021-2026', the global market for orthopaedic implants attained a value of USD 55.8 billion in 2020. The market is further expected to grow at a CAGR of 5% in the forecast period of 2021-2026 to attain a value of USD 75 billion.

The orthopaedic implants industry is being aided by the growing geriatric population, who are more susceptible to degenerative bones and joints diseases, along with being at a high risk for hip and knee injuries. Thus, segments, such as knee and hip orthopaedic implants, are expected to witness a rise in demand in the forecast period, further aiding the market growth. The reducing cost of the implants, along with the rising awareness of the treatment options, are also supporting the market growth. In the coming years, the introduction of customisable and 3D printed orthopaedic implants is expected to drive the growth of the market.

The market is also expected to be aided by the rising competition between the key players in the industry, leading to the launch of advanced products and diversification of portfolios. In July 2021, Medtronic (NYSE: MDT), a major player in the industry, announced its plans to acquire Medicrea, which pioneered in the development of spinal surgery with the help of artificial intelligence, predictive modelling, and patient-specific implants. This planned acquisition will further strengthen Medtronic’s position in the orthopaedic implants industry.

In the coming years, the Asia Pacific region is expected to provide lucrative growth opportunities to the orthopaedic implants industry due to the rising demand for non-invasive surgeries, growing awareness of the implants, and favourable government policies. In October 2020, it was reported that the Indian government would venture out to explore biodegradable orthopaedic implants, which will be safe and cost-effective. These are expected to be made of magnesium and hydroxyapatite, which are auto degraded over a period of time. Such innovations in the industry are also expected to drive the overall market growth in the forecast period.

Market Analysis by Product, Application, End Use, and Region:

  • The market, on the basis of products, is divided into plates and screws, nails and rods, and pins and wires, among others.
  • On the basis of applications, the market is segmented into reconstructive joint replacements, spine implants, craniomaxillofacial implants, dental implants, trauma implants, and orthobiologics, among others.
  • Based on end-uses, the industry is categorised into hospitals, orthopaedic clinics, and ambulatory surgical centres, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the growing geriatric population and rising incidences of diseases, such as osteoporosis, osteoarthritis, and obesity. 
  • The market is invigorated by the multiple lifestyle-related factors, such as lack of exercise, early burnout, and increasing adoption of orthopaedic implants. 
  • The accelerating demand for segments, such as knee orthopaedic implants and hip orthopaedic implants due to the rising proportion of anatomic injuries worldwide, is expected to aid the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) market for the products, applications, end-uses, and major regions of orthopaedic implants.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

Arthrex, Inc., Johnson & Johnson Services, Inc., CONMED Corporation, Zimmer Biomet Holdings, Inc., Medtronic plc, Stryker Corporation, and Smith & Nephew plc, among others, are the key players in the global orthopaedic implants market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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