Now, to meet the rising demand for orthopedic implants market., key manufacturers of orthpedic implants are poised to deploy advanced technologies to build more efficient, safe, and affordable devices and implants. As a result, in the coming years, the orthopedic implants industry is set to register robust medical innovation and cross-collaboration, leading to fruitful outcomes in revenue generation and business expansion.
The steadily rising incidence of osteoarthritis, musculoskeletal diseases, and arthritis has increased the prevalence of orthopedic injuries and influenced the demand for orthopedic surgeries. Moreover, bone density issues and their associated diseases have augmented the demand for minimally invasive orthopedic procedures. These factors, coupled with a steadily growing geriatric population, have positively impacted the global orthopedic implants market.
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Emerging Healthcare Technologies Create Strong Momentum to Develop Advanced Implants, in Turn Driving Orthopedic Implants Market
The growing demand for orthopedic surgeries and procedures has increased the demand for bone implants. In addition, the rising demand for implantable minimally invasive medical implants has led to greater customization in implants based on a patient's specific condition. This has paved the way for innovations in the implantation process, such as portable navigation, robot-assisted surgery, and AI-powered guidance software. These techniques can make the procedure more reliable, effective, efficient, and convenient.
Another trend in the orthopedic implants market is the use of 3D printing to create specialized implants with multi-layered composite structures. Furthermore, the introduction of internal fixation devices and bioresorbable implants is expected to create new opportunities in the orthopedic implants. During the forecast period, the development of novel implant procedures utilizing AI, machine learning, and IoT are predicted to drive growth in the orthopedic implants.
Joint Reconstruction Implants, and Spinal Implants to Witness Greater Demand in Orthopedic Implants Market
Joint reconstruction implants, such as knee and hip replacements, have gained popularity in recent years. They are expected to continue to be in demand due to the increasing number of older individuals suffering from osteoarthritis. Spinal implants are also projected to observe a higher demand during the study period.
This is due to the rapid increase in trauma cases resulting from road accidents and sports injuries as well as the rising prevalence of disc degenerative conditions and spondylitis. Such injuries and conditions have led to an increase in spinal fusion surgeries and the use of spinal implants. As a result, the global orthopedic implants market is poised to significantly expand on the back of the growing demand for spinal implants and joint reconstruction implants.
North America’s Lead Intact in Orthopedic Implants Industry
North America is expected to dominate the orthopedic implants market due to the high incidence of orthopedic ailments, bone disorders, and a growing geriatric population in the region. The availability of advanced medical facilities and a developed healthcare infrastructure in North America have also contributed to the growth of its orthpedic implants market.
Other factors that are expected to have a positive impact on this region’s orthopedic implants industry growth include the stable GDP per capita, and favorable healthcare incentives offered by the government.
Leading Market Players
- Braun Melsungen AG, Zimmer Biomet, BioTek, Corin Group, Globus Medical, Medtronic, Conmed Corporation, and Stryker, Smith Nephew are some prominent players in the global orthopedic implants.
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