Orthopedic Implant Market was valued at USD 24.15 billion in 2022 and is expected to rise from USD 25 billion in 2023 to reach a value of USD 32.92 billion by 2031, at a CAGR of 3.5% during the forecast period (2024–2031).
Demand for less invasive procedures is increasing because they are less likely to cause injury and require shorter treatment times than invasive procedures. Patients stay in hospital for a shorter period due to faster recovery time, saving hospital and surgical costs. This results from the advanced and expensive orthopedic procedures involving knee, hip, other devices, and implant replacements. Consequently, the market is growing owing to the availability of several minimally invasive therapies and the increasing popularity of minimally invasive programs.
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Orthopedic Implants Market Dynamics: Leaders and Emerging Contenders
The orthopedic implants market is a dynamic and rapidly growing segment of the medical device industry. Rising osteoporosis, advancements in implant technology, and aging global population are driving this market. Companies operating in this market are engaged in fierce competition to innovate, expand their product range and increase their market share. Here, we analyze the competitive landscape of the orthopedic implants market, focusing on the key players, their strategies and market trends.
Major Players and Market Leaders
Johnson & Johnson
Strategies: Johnson & Johnson’s DePuy Synthes division focuses on comprehensive product offerings, including joint reconstruction, spine, sports medicine, and trauma implants. The company uses advanced materials and technologies such as 3D printing and emphasizes R&D and innovation.
Recent developments: DePuy Synthes has introduced several new products, including the ATTUNE Cementless Knee System and the ACTIS Total Hip System, which provide patient comfort and ease of use for surgeons.
Market Contribution: As one of the largest manufacturers, DePuy Synthes has a large market share and extensive distribution network, which contributes to global access to advanced orthopedic solutions.
In March 2023, Curiteva, Inc. will have 100,000 shares reported $1.2 billion. received FDA 510(k) approval for its Inspire 3D Porous PEEK HAFUSE Cervical Interbody System. This is a 3D printed PEEK implant manufactured by the company’s own Fused Filament Fabrication 3D printer.
In March 2023, Invibio Biomaterial Solutions launched Peak-Optima Am Filament, an implantable polyetheretherketone polymer for 3D printed medical devices. The introduction of these lines can help increase the market share of these products.
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Segments covered
Product
Lower Extremity Implants (Knee Implants, Hip Implants, Foot & Ankle Implants), Spinal Implants, Dental (Dental Implants, Craniomaxillofacial Implants), and Upper Extremity Implants (Elbow Implants, Hand & Wrist Implants, Shoulder Implants)
End Use
Hospitals, and Outpatient Facilities
Business Verticals in Orthopedic Implants Market
The orthopedic implants market spans several business verticals, each contributing to the growth and development of the segment.
Joint Replacement
Overview: This vertical focuses on products that replace joints with injury or disease, such as hips, knees, and shoulders. Joint replacement is one of the most important segments in the orthopedic implants market due to the increasing prevalence of osteoporosis and other joint related conditions.
Key players: Major brands such as Johnson & Johnson (DePuy Synthes), Zimmer Biomet, and Stryker Corporation dominate this vertical, offering advanced joint replacement solutions with innovative materials and designs.
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A Future Based on Innovation and Accessibility
The orthopedic implants market is poised for tremendous growth, driven by technological advancements, rising osteoporosis, and aging population with innovations such as 3D-printed implants, smart implants. It has the combination of sensors planned to drive patient attendance, recovery time and more, expanding access to healthcare in the economy and increased investment in research and development will drive the market to continue to grow. As access to cutting-edge treatments expands globally, the orthopedic implant market is set to revolutionize musculoskeletal healthcare, forcing a future where many patients can thrive will guarantee mobility and quality of life.
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