- Press Release -

A recently revamped report published by Fact.MR investigates that the global orthopedic implants market is forecast to reach US$ 900 Mn, expanding at a 6.7% CAGR during the assessment period ranging from 2022 to 2032. Uptake of orthopedic implants is expected to surge on the back of rising cases of bone deformities and other orthopedic disorders in the last few years.

During the historical period 2017-2021, demand for orthopedic implants surged at a CAGR of 6%. Prospects temporarily dipped during the peak of the COVID-19 pandemic, attributed to restrictions on non-COVID related surgical procedures to prevent further spread of infections. However, since 2021, prospects have begun exhibiting a gradual resurgence, as the restrictions fade away.

The growth of the orthopedic implants market remains influenced by innovations and advancements in healthcare backed by the adoption of the work from home culture. North America is likely to dominate the orthopedic implants market by acquiring nearly 1/3rd share of the global market.

Key Takeaways from the Market Study

• The global orthopedic implants market anticipated to add 2x value by 2032 as compared to 2022
• Demand for orthopedic implants to be high for knee reconstruction, expanding at a CAGR of 6.3%
• Hybrid orthopedic implants to experience a noteworthy incline from 2022 to 2032
• North America to experience a CAGR of 4%, expected to reach US$ 370 Mn by 2032
• China to be an opportunistic growth region, forecast to flourish at a CAGR of 6%
• Global orthopedic implants market to be valued at US$ 468 Mn by 2022-end

“3D printing technology provides flexibility in the design process and enables efficient production of both off-the-shelf and personalised medical products, thereby enhancing the demand for Orthopedic Implants,” comments a Fact.MR analyst

Competitive Landscape

Prominent players are embracing innovative approaches such as ground-breaking marketing tactics, technological advancements, mergers, and acquisitions.

• In Dec 2021, DePuy Synthes, a division of Johnson & Johnson has announced the acquisition of OrthoSpin through its Synthes GmbH affiliate. OrthoSpin, based in Israel, creates a robot-assisted external fixation system for orthopaedic treatments.
• In January 2022, Stryker announced a definitive merger agreement to acquire all of the issued and outstanding shares of common stock of Vocera Communications, Inc. for $79.25 per share, or a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion (including convertible notes).

More Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the orthopedic implants market, presenting historical demand data (2017-2021) and forecast statistics from 2022 to 2032.

The study divulges essential insights on the market based on product type (hip reconstruction, knee reconstruction and shoulder implants), fixation type (cement, cementless and hybrid) and end user (hospitals, orthopedic clinics, ambulatory surgical centers and others) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa).

About the Healthcare Division at Fact.MR

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned Healthcare team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over a thousand reports and 1 million-plus data points, the team has analyzed the healthcare market across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.

For more information, refer to our market research report or contact the PR author.

Shambhu Nath Jha

Fact.MR

Sr. Consultant - Healthcare

E-mail: shambhu@factmr.com