Growth opportunities in the orthopedic implants market look promising over the next six years. This is mainly due to the rising health spending across the nations, intensifying strategic initiatives by the players in the market, and the growing number of injuries.
Orthopedic Implants Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The surging expenditure on health across the world is the prominent driver accelerating the growth of the global orthopedic implants market. For example, The American Medical Association reported that U.S. health expenditure has increased by 4.6% in 2018 from 4.2% in 2017 and has reached the US $3.6 trillion, which has contributed to the market growth. Also, the expanding geriatric population may fuel the market growth. For instance, as per the World Health Organization, the world’s geriatric population is anticipated to reach two billion by the end of 2050, from 900 million in 2015, thereby escalating the number of patients. The increasing number of injuries has contributed to the market growth. For example, NASA Neuroscience and Spine Associates reported that P.L. in 2017, more than 1.2 million players encountered orthopedic football injuries, which has propelled the growth of the orthopedic implants market size.
The orthopedic implant market is experiencing a vigorous growth phase and is being adopted by various nations because of the market’s strategic innovations. After ongoing research and development in the orthopaedic implant industry, Auxein Medical has officially introduced education and training platform “DAIS (Division of Auxein Institute for Surgeons) by setting up a Cadaver Workshop in Miami, the USA on 25-26th July 2019, which has stimulated the market growth. However, rigorous policies in implant manufacturing are likely to obstruct market growth.
Product Type Segment Drivers
Based on the product type, knee reconstruction is projected to expand at a faster CAGR during the forecast period due to the rising geriatric population. Knee pain is common in old age and is called osteoarthritis. Wearing knee cartilage leads to increasing knee implants in the elderly population.
Regional Drivers
Based on the regional coverage, Europe is predicted to witness a higher CAGR over the forecast period. According to “European Union,” more than 20.3% of the European population was above 65 in 2019, and the population is expected to have a two a half fold increase between 2019 and 2100, from 5.8 % to 14.6 %, which will bolster the market growth.
Orthopedic Implants Market’s Leading Manufacturers:
- Stryker
- Orthopaedic Implant Company
- Johnson & Johnson
- CONMED Corporation
- Smith+Nephew
- NuVasive, Inc.
- Integra LifeSciences
- Braun Melsungen AG
- Globus Medical
- Medtronic
Orthopedic Implants Market Segmentation:
Segmentation by Product Type:
- Hip Reconstruction
- Knee reconstruction
- Shoulder Implants
Segmentation by Fixation Type:
- Cement
- Cementless
- Hybrid
Segmentation by End-User:
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
