Orthopedic Implants Market Size Worth $54.2 Billion By 2030

Orthopedic Implants Market Growth & Trends

The global orthopedic implants market size is expected to reach USD 54.2 billion by 2030, registering a CAGR of 6.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increase in the frequency of musculoskeletal problems, the rising geriatric population, and the increase in demand for joint replacement are all factors driving the growth. The increase in the use of orthopedic devices, issues with low bone density, the introduction of biodegradable implants and internal fixation devices, and the increase in the number of patients in their middle age choosing orthopedic implants are the other factors driving the growth.

The COVID-19 outbreak has put medical practices of all sizes under great pressure, and healthcare facilities all across the world were overrun by the large number of patients coming to the hospitals every day. In many countries worldwide, the rising incidence of COVID-19 has increased demand for the precise diagnosis and treatment tools. The pandemic had a negative impact on the market as in many countries government imposed lockdowns which reduced the footfall in many hospitals, moreover many healthcare services were recognized as critical and non-critical which reduced noncritical treatments during the pandemic. The demand was reduced due to the pandemic as implants were considered non-critical or nonessential healthcare services.

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Companies are undergoing multiple partnerships and mergers & acquisitions to increase their product portfolios, as well as expand their footprints across new regions. In addition, companies are focusing on product differentiation and bundling strategies to capture significant market share. In March 2021, IMPLANET, a medical tech company offering knee and vertebral implants announced that it has obtained a shareholder’s agreement to acquire a majority of stake in Orthopedic & Spine Development, a company that specializes in spine surgical implants.

Orthopedic Implants Market Report Highlights

• The knee implants segment held the majority share of the market in 2022, with a revenue share of 33.4%. This can be attributed to the rapidly rising number of knee surgeries, the adoption of unhealthy lifestyles, and the increasing prevalence of musculoskeletal & bone degenerative disorders
• The dental implants segment is anticipated to record the fastest CAGR of 9.8% during the forecast period from 2023 to 2030, owing to the increasing incidence of dental injuries arising from accidents, trauma, and sports injuries. These serve as restorative treatment solutions preserving natural bone and providing a secure foundation for a prosthesis
• North America accounted for the majority share of the market in 2022, with a revenue share of 49.3%, owing to the increasing number of trauma and fracture cases, increasing prevalence of low bone density & degenerative bone disorders, and growing availability of biodegradable implants & internal fixation devices
• Asia Pacific is anticipated to expand at the fastest rate of 8.1% during the forecast period from 2023 to 2030, owing to the rapidly developing healthcare infrastructure, growing medical tourism, and rising prevalence of chronic orthopedic disorders

Neurostimulation Devices Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 6.3 billion

Revenue forecast in 2030

USD 14.8 billion

Growth rate

CAGR of 12.8% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

May 2023

Orthopedic Implants Market Segmentation

Grand View Research has segmented the global orthopedic implants market based on the product and region:

Orthopedic Implants Product Outlook (Revenue, USD Million, 2018 - 2030)

• Hip Implants
• Knee Implants
• Spinal Implants
• Craniomaxillofacial Implants
• Dental Implants
• SET Implants

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Orthopedic Implants Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • S.
  • Canada
• Europe
  • K.
  • Germany
  • Spain
  • France
  • Italy
  • Sweden
  • Denmark
  • Norway
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait

List of key players in the orthopedic implants market

• Stryker,
• Arthrex, Inc.
• Smith & Nephew
• Zimmer Biomet
• DePuy Synthes, Inc.

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