Product Code: GVR-1-68038-020-0
Orthopedic Implants Market Growth & Trends:
The global orthopedic implants market size is estimated to reach USD 32.5 billion by 2030, registering a CAGR of 3.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. An increase in the frequency of musculoskeletal problems, the rising geriatric population, and high demand for joint replacement are all factors driving the growth. The increase in the use of orthopedic devices, issues with low bone density, the introduction of biodegradable implants & internal fixation devices, and a rise in the number of patients in their middle age choosing orthopedic implants are other factors driving market growth.
The market is driven by the rising emergence of musculoskeletal disorders, the growing advent of biodegradable implants and internal fixation devices, and the growing elderly population. For instance, the aging population is propelling the demand for orthopedic solutions globally, and according to WHO's October 2022 estimates, by 2030, one in six people worldwide will be aged 60 years or older. In 2022, the population of people aged 60 years and above will rise to 1.4 billion from 1 billion in 2020. In addition, the upsurge in orthopedic device usage and the increasing number of middle-aged patients opting for orthopedic implants are further propelling market growth.
The demand for joint replacement and other related medical devices is expected to grow as prevalent chronic joint disorders such as osteoarthritis (OA) are witnessing an increasing number of patients, requiring the development and usage of advanced orthopedic implants. Osteoarthritis (OA) is a common condition that affects many people, and it is projected to impact almost a billion people by 2050. Furthermore, in September 2023, according to a study titled "Global, regional, and national burden of OA, 1990-2020 and projections to 2050" highlighted that by 2050, cases of OA for the knee, hand, hip, and other types of OA will increase by significant percentages of 74.9%, 48.6%, 78.6%, and 95.1%, respectively.
The improvement in the regulatory landscape, along with ongoing efforts by industry players to innovate products that offer better bioactivity, biocompatibility, and suitable mechanical properties, is further driving market growth. Recently, in March 2022, Molecular Matrix, Inc. unveiled the commercial launch of its Synthetic Bone Graft, branded as Osteo-P. Primarily employed as a substitute in the musculoskeletal system, this product is developed using HCCP technology, which significantly benefits bone regeneration and repair processes.
Smart sensor-enabled technologies have revolutionized the field of orthopedic implants, offering advancements in monitoring, feedback, and customization. These technologies utilize sensors to gather real-time data on implant performance, patient movement, and physiological parameters, allowing personalized treatment & improved outcomes. For enhanced patient care throughout the treatment, smart implants feature inbuilt sensors that give surgeons real-time information for positioning and postoperative evaluation. These implants may reduce periprosthetic infection, which is becoming more common in orthopedic surgery. Healthcare professionals currently have a variety of distinctive, economical goods to choose from due to sensor-enabled technologies. In January 2021, Stryker Corporation announced the acquisition of OrthoSensor and its knee surgery sensor technology.
Several key players are acquiring other small-scale manufacturers to expand their product lines and strengthen their market positions. In a recent instance, in January 2023, Companion Spine announced the acquisition of Backbone SAS. Incorporating the primary medical device from the Backbone, the LISA implant, this acquisition broadened Companion Spine's array of medical implant solutions. Consequently, Companion Spine can now offer a comprehensive range of treatment options for spine ailments, such as lumbar stenosis and degenerative disc disease, by tailoring implants to the severity of the condition.
Orthopedic Implants Market Report Highlights:
- Based on product, the lower extremity implants segment held the largest revenue share in the market in 2023. This is due to the increasing prevalence of orthopedic conditions, advancements in implant materials and designs, and the growing demand for improved quality of life through surgical interventions.
- Based on end-use, the hospitals segment held the largest revenue share. This can be attributed to significant infrastructure and a growing patient population.
- North America dominated the market due to the presence of a large number of major market players and the high adoption of advanced technologies.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Segment Definitions
- 1.2.1. Product
- 1.2.2. End-use
- 1.2.3. Regional scope
- 1.2.4. Estimates and forecast timeline
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased database
- 1.4.2. GVR's internal database
- 1.4.3. Secondary sources
- 1.4.4. Primary research
- 1.4.5. Details of primary research
- 1.5. Information or Data Analysis
- 1.5.1. Data analysis models
- 1.6. Market Formulation & Validation
- 1.7. Model Details
- 1.7.1. Commodity flow analysis (Model 1)
- 1.7.2. Approach 1: Commodity flow approach
- 1.7.3. Volume price analysis (Model 2)
- 1.7.4. Approach 2: Volume price analysis
- 1.8. List of Secondary Sources
- 1.9. List of Primary Sources
- 1.10. Objectives
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product outlook
- 2.2.2. End-use outlook
- 2.2.3. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Orthopedic Implants Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Ancillary market outlook
- 3.2. Market Dynamics
- 3.2.1. Market driver analysis
- 3.2.1.1. Growing incidence of chronic conditions
- 3.2.1.2. Rising demand for smart orthopedic implants
- 3.2.1.3. Growing demand for orthopedic apps, platforms, and software
- 3.2.1.4. Growing population aged 25 to 65 years and increasing burden of global geriatric population
- 3.2.1.5. Increasing adoption of minimally invasive treatments
- 3.2.1.6. Increasing number of sports injuries and road traffic accidents
- 3.2.1.7. Increasing reimbursement coverage
- 3.2.2. Market restraint analysis
- 3.2.2.1. Stringent regulatory framework
- 3.2.2.2. Increasing number of product recalls
- 3.2.2.3. Availability of alternative treatments
- 3.3. Orthopedic implants: Market Analysis Tools
- 3.3.1. Industry Analysis - Porter's
- 3.3.2. PESTLE Analysis
- 3.4. Orthopedic Implants Market: Product Pipeline Analysis
- 3.5. Orthopedic Disease Prevalence
- 3.6. Orthopedic Implants Market: Technology Trend Analysis
Chapter 4. Orthopedic Implants Market Segment Analysis, By Product, 2018 - 2030 (USD Million)
- 4.1. Product Market Share, 2023 & 2030
- 4.2. Segment Dashboard
- 4.3. Global Orthopedic Implants Market, by Product, 2018 to 2030
- 4.4. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.4.1. Lower Extremity Implants
- 4.4.1.1. Lower Extremity Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.1.2. Knee Implants
- 4.4.1.2.1. Knee Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.1.3. Hip Implants
- 4.4.1.3.1. Hip Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.1.4. Foot & Ankle Implants
- 4.4.1.4.1. Foot & Ankle Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.2. Spinal Implants
- 4.4.2.1. Spinal Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.3. Dental
- 4.4.3.1. Dental market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.3.2. Dental Implants
- 4.4.3.2.1. Dental implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.3.3. Craniomaxillofacial Implants
- 4.4.3.3.1. Craniomaxillofacial Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.4. Upper Extremity Implants
- 4.4.4.1. Upper Extremity Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.4.2. Elbow Implants
- 4.4.4.2.1. Elbow Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.4.3. Hand & Wrist Implants
- 4.4.4.3.1. Hand & Wrist Implants market estimates and forecasts, 2018 to 2030 (USD Million)
- 4.4.4.4. Shoulder Implants
- 4.4.4.4.1. Shoulder Implants market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 5. Orthopedic Implants Market Segment Analysis, By End-use, 2018 - 2030 (USD Million)
- 5.1. End-use Market Share, 2023 & 2030
- 5.2. Segment Dashboard
- 5.3. Global Orthopedic Implants Market, by end-use, 2018 to 2030
- 5.4. Hospitals
- 5.4.1. Hospitals market estimates and forecasts, 2018 to 2030 (USD million)
- 5.5. Outpatient facilities
- 5.5.1. Outpatient facilities market estimates and forecasts, 2018 to 2030 (USD Million)
Chapter 6. Orthopedic Implants Market Segment Analysis, By Region, By Product, By End-use, 2018- 2030 (USD Million)
- 6.1. Regional Market Share Analysis, 2023 & 2030
- 6.2. Regional Market Dashboard
- 6.3. Regional Market Snapshot
- 6.4. Orthopedic Implants Market Share by Region, 2023 & 2030:
- 6.5. North America
- 6.5.1. North America orthopedic implants market, 2018 - 2030 (USD Million)
- 6.5.2. U.S.
- 6.5.2.1. U.S. orthopedic implants market, 2018 - 2030 (USD Million)
- 6.5.3. Canada
- 6.5.3.1. Canada orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6. Europe
- 6.6.1. Europe orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.2. UK
- 6.6.2.1. UK orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.3. Germany
- 6.6.3.1. Germany orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.4. France
- 6.6.4.1. France orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.5. Italy
- 6.6.5.1. Italy orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.6. Spain
- 6.6.6.1. Spain orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.7. Norway
- 6.6.7.1. Norway orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.8. Sweden
- 6.6.8.1. Sweden orthopedic implants market, 2018 - 2030 (USD Million)
- 6.6.9. Denmark
- 6.6.9.1. Denmark orthopedic implants market, 2018 - 2030 (USD Million)
- 6.7. Asia Pacific
- 6.7.1. Japan
- 6.7.1.1. Japan orthopedic implants market, 2018 - 2030 (USD Million)
- 6.7.2. China
- 6.7.2.1. China orthopedic implants market, 2018 - 2030 (USD Million)
- 6.7.3. India
- 6.7.3.1. India orthopedic implants market, 2018 - 2030 (USD Million)
- 6.7.4. Australia
- 6.7.4.1. Australia orthopedic implants market, 2018 - 2030 (USD Million)
- 6.7.5. South Korea
- 6.7.5.1. South Korea orthopedic implants market, 2018 - 2030 (USD Million)
- 6.7.6. Thailand
- 6.7.6.1. Thailand orthopedic implants market, 2018 - 2030 (USD Million)
- 6.8. Latin America
- 6.8.1. Brazil
- 6.8.1.1. Brazil orthopedic implants market, 2018 - 2030 (USD Million)
- 6.8.2. Mexico
- 6.8.2.1. Mexico orthopedic implants market, 2018 - 2030 (USD Million)
- 6.8.3. Argentina
- 6.8.3.1. Argentina orthopedic implants market, 2018 - 2030 (USD Million)
- 6.9. MEA
- 6.9.1. South Africa
- 6.9.1.1. South Africa orthopedic implants market, 2018 - 2030 (USD Million)
- 6.9.2. Saudi Arabia
- 6.9.2.1. Saudi Arabia orthopedic implants market, 2018 - 2030 (USD Million)
- 6.9.3. UAE
- 6.9.3.1. UAE orthopedic implants market, 2018 - 2030 (USD Million)
- 6.9.4. Kuwait
- 6.9.4.1. Kuwait orthopedic implants market, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis, By Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Profiles
- 7.3.1. Medtronic
- 7.3.1.1. Company overview
- 7.3.1.2. Financial performance
- 7.3.1.3. Product benchmarking
- 7.3.1.4. Strategic initiatives
- 7.3.2. Stryker
- 7.3.2.1. Company overview
- 7.3.2.2. Financial performance
- 7.3.2.3. Product benchmarking
- 7.3.2.4. Strategic initiatives
- 7.3.3. Zimmer Biomet
- 7.3.3.1. Company overview
- 7.3.3.2. Financial performance
- 7.3.3.3. Product benchmarking
- 7.3.3.4. Strategic initiatives
- 7.3.4. DePuy Synthes
- 7.3.4.1. Company overview
- 7.3.4.2. Financial performance
- 7.3.4.3. Product benchmarking
- 7.3.4.4. Strategic initiatives
- 7.3.5. Smith+Nephew
- 7.3.5.1. Company overview
- 7.3.5.2. Financial performance
- 7.3.5.3. Product benchmarking
- 7.3.5.4. Strategic initiatives
- 7.3.6. Aesculap, Inc. - a B. Braun company
- 7.3.6.1. Company overview
- 7.3.6.2. Financial performance
- 7.3.6.3. Product benchmarking
- 7.3.6.4. Strategic initiatives
- 7.3.7. Wright Medical Group N.V.
- 7.3.7.1. Company overview
- 7.3.7.2. Financial performance
- 7.3.7.3. Product benchmarking
- 7.3.7.4. Strategic initiatives
- 7.3.8. NuVasive, Inc. (merged with Globus Medical)
- 7.3.8.1. Company overview
- 7.3.8.2. Financial performance
- 7.3.8.3. Product benchmarking
- 7.3.8.4. Strategic initiatives
- 7.3.9. Integra LifeSciences Holdings Corporation
- 7.3.9.1. Company overview
- 7.3.9.2. Financial performance
- 7.3.9.3. Product benchmarking
- 7.3.9.4. Strategic initiatives
- 7.3.10. NuVasive, Inc. (merged with Globus Medical)
- 7.3.10.1. Company overview
- 7.3.10.2. Financial performance
- 7.3.10.3. Product benchmarking
- 7.3.10.4. Strategic initiatives
- 7.3.11. FH Orthopedic
- 7.3.11.1. Company overview
- 7.3.11.2. Financial performance
- 7.3.11.3. Product benchmarking
- 7.3.11.4. Strategic initiatives
- 7.3.12. Paragon Medical (AMETEK)
- 7.3.12.1. Company overview
- 7.3.12.2. Financial performance
- 7.3.12.3. Product benchmarking
- 7.3.12.4. Strategic initiatives
- 7.3.13. Acumed LLC
- 7.3.13.1. Company overview
- 7.3.13.2. Financial performance
- 7.3.13.3. Product benchmarking
- 7.3.13.4. Strategic initiatives
- 7.3.14. Implantech
- 7.3.14.1. Company overview
- 7.3.14.2. Financial performance
- 7.3.14.3. Product benchmarking
- 7.3.14.4. Strategic initiatives
- 7.3.15. Invibio Biomaterial Solutions
- 7.3.15.1. Company overview
- 7.3.15.2. Financial performance
- 7.3.15.3. Product benchmarking
- 7.3.15.4. Strategic initiatives