Orthopedic Implants Market Set for 3.5% CAGR Surge, Reaching USD 32.92 Billion by 2031 | SkyQuest Technology
Westford, USA, Aug. 08, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Orthopedic Implants Market will attain a value of USD 32.92 Billion by 2031, with a CAGR of 3.5% over the forecast period (2024-2031). Over the course of the projected period, a rapid expansion in the orthopaedic implant market is anticipated. Major competitors in the global market provide solutions that support broken bones and tissues, allowing the patient's body to operate more normally. These orthopaedic implant options are significantly more in demand due to their many benefits, which include minimal discomfort, affordable price, and speedy recuperation.
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Browse in-depth TOC on the " Orthopedic Implants Market "
- Pages - 219
- Tables - 94
- Figures – 76
Orthopedic Implants Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $25 Billion |
| Estimated Value by 2031 | $32.92 Billion |
| Growth Rate | Poised to grow at a CAGR of 3.5% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End Use and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, Latin America |
| Report Highlights | Rising adoption of minimally invasive procedures |
| Key Market Opportunities | Innovative strategic developments and lunches |
| Key Market Drivers | Increasing prevalence of orthopedic disorders |
Knee Implants Product Leads the Market through Improved Surgical Techniques
As the population ages and more people have osteoarthritis, advances in implant technology; knee implants are the most widely used among orthopedic implants globally. Improved surgical techniques and materials lead to better patient outcomes, which encourages more people to accept it, increasing the need for knee replacements, thus increasing market expansion.
Reduced Recovery Times Makes the Minimally Invasive Surgery Procedure the Fastest Growing Sub-Segment
The global orthopaedic implants market is dominated by minimally invasive surgery (MIS) methods due to their shorter recovery times, lower risk of infection, and less discomfort following surgery. Due to these advantages, surgeons and patients are more likely to adopt MIS-compatible implants, which increases demand for them and furthers their market domination.
Use of 3D Printing in the Healthcare Sector Makes North America a Leading Consumer
Factors like ageing populations, an increase in trauma cases from sports injuries and auto accidents, rising rates of osteoporosis and osteoarthritis, and shifting lifestyles, North America accounted for the biggest revenue share of the global market. In addition, the industry is growing in the reg due to factors like rising healthcare costs worldwide.
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Orthopedic Implants Market Insight
Drivers:
- Increasing Prevalence of Orthopedic Disorders
- Increasing Demand for Orthopedic Implants in Geriatric Population
- Minimally Invasive Surgeries being in High Demand
Restraints:
- Limited Reimbursement Coverage
- Potential Post-Surgery Complications
- Approval Processes can Delay the Introduction of New Implants
The following are the Top Orthopedic Implants Companies:
- CONMED Corporation (US)
- Wright Medical Group N.V. (US)
- Stryker (US)
- Medtronic (Ireland)
- Smith+Nephew (UK)
- Integra LifeSciences (US)
- B. Braun Melsungen AG (Germany)
- Arthrex (U.S.), Baxter (US)
- Medical Device Business Services, Inc. (US)
- Globus Medical (US)
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Key Questions Answered in Global Orthopedic Implants Market Report
- What is the estimated market size for orthopaedic implants globally by 2031, and what is the anticipated compound annual growth rate (CAGR) for the 2024–2031 projection period?
- What aspects of the global orthopaedic implants market do knee implants dominate?
- What makes minimally invasive surgery (MIS) techniques more popular than others in the orthopaedic implant market?
This report provides the following insights:
- Analysis of key drivers (Increasing aging population base, orthopedic implants that solves lifestyle-related concerns, risk of getting bone disorders and demand for minimally invasive procedures is increasing), restraints (High costs of implants to impede the orthopedic implants, expensive nature of orthopedic implants and strict regulatory requirements), opportunities (Innovative products for sports medicine, higher manufacture & deliver next-generation orthopedic solutions and synthetic bone graft solutions innovation), and challenges (Intense competition among established players and Issues such as raw material shortages) influencing the growth of orthopedic implants market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the orthopedic implants market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the orthopedic implants market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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