Most orthopedic implants are likely to gain extensive traction, though among these, reconstructive joint replacement products are anticipated to depict tremendous growth over the upcoming years on the account of ongoing research and development activities and rising prevalence of the age related disorders. In regional demographics, Asia Pacific would likely hold prominence ascribing to robust presence of key players and developing healthcare facilities.
Orthopedic implants have found massive prominence across geriatric population owing to the rising prevalence of musculoskeletal disorders including osteoarthritis, osteoporosis, and several others. Besides, a steady rise in number of joint replacement cases and sports injuries globally will support the burgeoning need for these devices.
An exponential upsurge in technological innovations and surplus government investments in the medical industry are anticipated to spur the product adoption worldwide. However, high treatment cost along with stringent government policies might hinder the growth of orthopedic implants market size over the next few years.
The global orthopedic medical implants industry has been fragmented into product, biomaterial, type, and regional landscapes. In terms of product segment, the market is characterized into reconstructive joint replacements, spinal implants, orthobiologics, trauma, dental implants, and various others. Of these, the reconstructive joint replacements market is further sub segmented into hip, knee, and extremities. Dental implants are divided into root form and plate form, and trauma is categorized into plates, screws, staples, and others. The type segment is further divided into wrist, knee, joint, spine, and others.
Based on product type, reconstructive joint replacements may contribute phenomenally to global orthopedic implants market share. This can be attributed to the prolific rise in prevalence of osteoporosis and osteoarthritis, along with advancements in joints replacements and hefty investments by fundamental market players in R&D.
Orthobiologics segment is set to bring about lucrative growth, given its increasing demand in advanced therapies, high patient cognizance towards orthobiologics, and need of minimally invasive procedures.
In terms of region, Asia Pacific is set to emerge as a lucrative growth ground for orthopedic implants market players owing to a huge population base, mounting healthcare infrastructure construction, increasing geriatric population, and potential awareness regarding orthopedic implants.
Some of the prominent players partaking in the global orthopedic implants market are Zimmer Biomet Holdings Inc., Johnson and Johnson, Medtronic plc, Stryker Corp., and several others.