The global orthopedic implants market size is expected to reach USD 71.11 billion by 2028 according to a new study by Polaris Market Research. The report “Orthopedic Implants Market Share, Size, Trends, Industry Analysis Report, By Application (Spinal, Hip, Knee, Dental, Craniomaxillofacial, S.E.T); By Region; Segments & Forecast, 2021 - 2028” gives a detailed insight into the current market dynamics and provides analysis on future market growth.
The prime purpose of the product is to support or replace a missing or damaged bone or joint. They come in extremely handy to treat deformities, correct body posture, and put straight the normal skeletal function. The industry analysis has seen a tectonic shift from traditional surgical procedures to ultra-modern fixations and prosthetics.
The industry success of the product is entrenched in a rising geriatric population with an increased lifespan affected by musculoskeletal disorders such as osteoporosis, osteoarthritis, and others. Technological innovations also have seen a steady rise in the orthopedic medical implants industry. An increasing number of joint replacement cases and sports injuries across the globe will catapult the industry to leading growth.
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Product types comprising reconstructive joint replacements accounted for the largest revenue share of the industry in 2020. This can be accounted for an increase in the prevalence of osteoporosis and osteoarthritis, inventions in joints replacements, and heavy investments by key players in R&D.
The key players operating in the industry include Zimmer Bionet Holdings, Inc., Medtronic, DePuy Synthes, Aesculap Implants Systems, Conmed Corporation., Biotek Instruments, Inc., Smith and Nephew plc., The Orthopedic Implant Company, Wright Medical Group, N.V., Stryker Corporation, Arthrocare Corporation, and Nuvasive Inc.
Polaris Market Research has segmented the orthopedic implants market report on the basis of application and region:
Orthopedic Implants, Application Outlook (Revenue - USD Million, 2016 - 2028)
Orthopedic Implants, Regional Outlook (Revenue - USD Million, 2016 - 2028)