Orthopedic Prosthetic Implants Market Report
Orthopedic Prosthetic Implants Market, By Application (Spinal Fusion, Joint Replacement, Long Bones, Craniomaxillofacial, Foot & Ankle, Dental), By Prosthetic Implant (Tubes, Screws, Plates, Prostheses, Others), By End-Use (Ambulatory Surgical Centers, Hospitals, Clinics, Others) and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global orthopedic prosthetic implants market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
Orthopedic Prosthetic Implants Market, By Application (Spinal Fusion, Joint Replacement, Long Bones, Craniomaxillofacial, Foot & Ankle, Dental), By Prosthetic Implant (Tubes, Screws, Plates, Prostheses, Others), By End-Use (Ambulatory Surgical Centers, Hospitals, Clinics, Others) and Region - ...
Impact of COVID-19 on Orthopedic Prosthetic Implants Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Orthopedic Prosthetic Implants Market is estimated to grow from USD 17.5 billion in 2020 to USD 19.9 billion by 2026 at a healthy CAGR of 2.2% during the forecast period.
Orthopedic implants are manufactured to support or replace a missing or damaged bone or joint. These implants are intended to stabilize body posture, treat deformities, and restore normal skeletal function. Orthopedic prosthetics are medical devices that are utilized to substitute or make an available fixation point of bone to hold the implant or to replace the joint surfaces.
Key players operating in the orthopedic prosthetic implants market are-
The orthopedic implants industry has encouraged a shift from conventional surgical procedures to the usage of modern fixation and prosthetic devices. The demand for orthopedic implants has increased significantly, mainly due to the rise in the geriatric population, which increases the risk of osteoarthritis, osteoporosis, technological innovations in orthopedic implants, and other musculoskeletal disorders, further boosting the market growth. However, the high cost associated with procedures involving orthopedic implants treatment and stringent government policies for approval of orthopedic implants is likely to hinder the orthopedic implants market growth.
Based on application, the orthopedic prosthetic implants market is classified into spinal fusion, joint replacement, long bones, craniomaxillofacial, foot & ankle, and dental. The spinal fusion segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly due to significant growth in the trauma cases associated with sports-related and road accidents along with increasing incidences of spondylolisthesis and disc degenerative conditions, which bolsters the segment growth.
By region, the Asia-Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to growth in awareness about orthopedic implants, high population base, development in healthcare infrastructure, surge in demand for the advanced implant, and surge in demand for minimally invasive procedures, thereby proliferating the regional market growth.
The COVID-19 outbreak has moderately affected the orthopedic prosthetic implants industry. With the surge in covid-19 cases, healthcare professionals across geographies were emphasizing treating corona-infected patients and other essential healthcare services. Additionally, the number of people visiting hospitals for non-emergency medical issues declined due to fear of infection.
Here is the list of the group of customers that the orthopedic proethetic implants market hopes to have the greatest opportunity to convert-
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The orthopedic prosthetic implants market is expected to witness an impressive growth of 2.2% CAGR in the coming years.
Amplitude Surgical (France), B. Braun Melsungen AG (Germany), Aesculap Implant Systems, LLC (US), Baumer S.A. (Brazil), ConforMIS, Inc. (US), Corin Group PLC (UK), DePuy Synthes Com-panies (US), DJO Global, Inc. (US), Exactech, Inc. (US), and Extremity Medical, LLC (US) are among the key players in the orthopedic prosthetic implants market.
The orthopedic prosthetic implants market size is expected to reach USD 19.9 billion in the foreseeable future.
The spinal fusion segment is expected to register a healthy CAGR in the orthopedic prosthetic implants market in the coming years.
Asia-pacific is expected to grow at a substantial CAGR in the orthopedic prosthetic implants market in the next five years.
Orthopedic prosthetic implants vendors, Orthopedic prosthetic implants retailers, Orthopedic clinics, Hospitals are among the key players in the orthopedic prosthetic implants market.