What is the global market size of Orthopedic Implants Market?

Orthopedic Implants Market size was valued at around USD 31.51 billion in 2021 and is expected to rise from USD 33.50 billion in 2022 to reach a value of USD 54.2 Billion by 2030, at a CAGR of 6.3% over the forecast period (2022–2030).

Orthopedic Implants Market Size, Share, Growth Analysis, By Product(Hip Implants, Knee Implants), By Procedure(Open Surgery, Minimally Invasive Surgery (MIS)), By End User(Hospitals, Orthopedic Clinics) - Industry Forecast 2024-2031

Report ID: SQMIG35A2224 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 94 | Figures: 76

Orthopedic Implants Market Dynamics

Orthopedic Implants Market Drivers

Increasing Prevalence of Orthopedic Disorders

The rising prevalence of orthopedic disorders such as osteoarthritis, rheumatoid arthritis, and osteoporosis, among others, is driving the demand for orthopedic implants.

Orthopedic Implants Market Restraints

Limited Reimbursement Coverage

The limited reimbursement coverage for orthopedic implants is another restraint, as patients may have to pay out of pocket for the cost of the device and the procedure.

Orthopedic Implants Market Report Snapshots

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Global Orthopedic Implants Market size was valued at around USD 33.50 billion in 2022 and is expected to rise from USD 35.61 billion in 2023 to reach a value of USD 58.06 Billion by 2031, at a CAGR of 6.3% over the forecast period (2024–2031).

In order to preserve a competitive edge, the major corporations are implementing methods including new product launches, acquisitions, mergers, collaborations, and partnerships. In June 2021, DJO purchased Mathys AG Bettlach, a Swiss business that creates ground-breaking products for synthetic bone graft remedies, sports medicine, and artificial joint replacement. This purchase improves the company's ability to create and provide cutting-edge orthopedic solutions. 'Zimmer Biomet Holdings, Inc.', 'Stryker Corporation', 'Johnson & Johnson (DePuy Synthes)', 'Smith & Nephew plc', 'Medtronic plc', 'Conmed Corporation', 'Arthrex, Inc.', 'NuVasive, Inc.', 'Globus Medical, Inc.', 'Integra LifeSciences Corporation', 'Wright Medical Group N.V.', 'DJO Global, Inc.', 'Aesculap Implant Systems, LLC', 'Acumed LLC', 'Exactech, Inc.', 'BioTek Instruments, Inc.', 'MicroPort Scientific Corporation', 'Colfax Corporation (DentalEZ Group)', 'Össur hf', 'Waldemar Link GmbH & Co. KG'

The rising prevalence of orthopedic disorders such as osteoarthritis, rheumatoid arthritis, and osteoporosis, among others, is driving the demand for orthopedic implants.

Rising Adoption of Minimally Invasive Procedures: There is a growing trend towards minimally invasive orthopedic procedures, which offer benefits such as smaller incisions, reduced pain and scarring, and faster recovery times. This trend is driving the development of new minimally invasive surgical techniques and technologies, as well as the adoption of existing ones.

North America held a 49.3% revenue share of the global market in 2022 as a result of the rising incidence of osteoporosis and osteoarthritis, the aging population, the rise in trauma cases brought on by traffic accidents and sports injuries, and changing lifestyles. The market is expanding in the region as a result of other reasons such an increase in global healthcare spending and an increase in the use of 3D printing in the healthcare sector. New competitors are kept out of the market by the need for costly capital investments and regulatory compliance requirements.

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Orthopedic Implants Market Size, Share, Growth Analysis, By Product(Hip Implants, Knee Implants), By Procedure(Open Surgery, Minimally Invasive Surgery (MIS)), By End User(Hospitals, Orthopedic Clinics) - Industry Forecast 2024-2031

Orthopedic Implants Market Dynamics

Orthopedic Implants Market Report Snapshots

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