Orthopedic Implants Market Size is Projected to Reach US$ 67.8 Billion by 2028, Industry CAGR 4.8% | IMARC Group

orthopedic implants market size reached US$ 50.6 Billion in 2022. By 2028, It will reach US$ 67.8 Billion, exhibiting CAGR of 4.8% during 2023-2028.

SHERIDAN, NEW YORK, USA, March 10, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled, “Orthopedic Implants Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″, The global orthopedic implants market size reached a value of US$ 50.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 67.8 Billion by 2028, exhibiting a CAGR of 4.8% during 2023-2028.

An orthopedic implant represents a medical device specially designed for repairing or replacing a deformed or damaged joint, bone, or cartilage. It is made of titanium alloys and stainless steel to provide strength and coated with a plastic layer for operating as an artificial cartilage. Orthopedic implants are widely used in spinal fusion surgery for the treatment of back pain and hip and joint replacement. As a result, these devices find widespread applications in orthopedic clinics, hospitals, and ambulatory surgical centers across the globe.

Orthopedic Implants Market Trends

The escalating number of operations being performed globally, owing to the increasing traumas, injuries, and accidents and the high majority of bone density issues and middle-aged bone diseases in individuals, are among the primary factors driving the orthopedic implants market. Besides this, the elevating requirement for these devices to treat musculoskeletal and the rising geriatric population are further augmenting the market growth. Moreover, various technological advancements in orthopedic implants, such as robot-assisted surgical tools, and the growing prevalence of orthopedic diseases, including arthritis and osteoarthritis, are propelling the demand for these devices, which are also catalyzing the global market.

Apart from this, the launch of several policies by the government bodies to invest in the healthcare infrastructure is acting as another significant growth-inducing factor. Additionally, the emerging trend of urbanization, the inflating disposable income of individuals, and the expanding medical industry are also stimulating the market growth. Furthermore, the leading players are focusing on research and development (R&D) activities to design bioresorbable instruments and internal fixation devices, which is expected to bolster the orthopedic implants market in the coming years.

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Competitive Landscape:

The competitive landscape of the orthopedic implants market has been studied in the report with the detailed profiles of the key players operating in the market.

Arthrex Inc., Auxein Medical, B. Braun Melsungen AG, CONMED Corporation, Globus Medical Inc., Integra LifeSciences, Johnson & Johnson, Medtronic Plc, Narang Medical Limited, Orthopaedic Implant Company, Smith & Nephew plc, Stryker Corporation and Zimmer Biomet.

The report has segmented the orthopedic implants market on the based on product, type, biomaterial and end user.

Breakup by Product:

Reconstructive Joint Replacements

Knee Replacement Implants
Hip Replacement Implants
Extremities

Spinal Implants
Spinal Fusion Implants
Vertebral Compression Fracture (VCF) Devices
Motion Preservation Devices/Non-Fusion Devices

Dental Implants

Root Form Dental Implants
Plate Form Dental Implants

Trauma

Orthobiologics
Demineralized Bone Matrix (DBM)
Allograft
Bone Morphogenetic Protein (BMP)
Viscosupplementation Products
Synthetic Bone Substitutes
Others

Others

Breakup by Type:

Knee
Hip
Wrist and Shoulder
Dental
Spine
Ankle
Others

Breakup by Biomaterial:

Metallic Biomaterials
Stainless Steel
Titanium Alloy
Cobalt Alloy
Others
Ceramic Biomaterials
Polymers Biomaterials
Others

Breakup by End User:

Hospitals
Orthopedic Clinic
Ambulatory Surgical Centers
Others

Breakup by Region:

North America:(United States, Canada
Asia-Pacific:(China, Japan, India, South Korea, Australia, Indonesia,Others)
Europe: (Germany, France, United Kingdom, Italy, Spain, Russia,Others)
Latin America;(Brazil,Mexico, Others)
Middle East and Africa

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Key Highlights of The Report:

Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization

About Us

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