The global orthopedic implants market size was estimated to be USD 37.65 billion in 2023 and is expected to reach at USD 74.65 billion by 2034 with a CAGR of 6.42% during the forecast period 2024-2034. Rising launch of orthopedic implants, surge in investments for manufacturing of advanced orthopedic implants by various key players, increasing innovations in the pharmaceutical industry, growing prevalence of orthopedic disorders such as arthritis & musculoskeletal disorders, rising number of surgeries, surge in geriatric population, increasing collaboration within market players for advancements in orthopedic implants, growing investments by governments in digital technology for healthcare sector, rising awareness regarding the utilization of orthopedic implants, and surge in technological advancements in the field of orthopedic implants are some of the key factors boosting the market growth.
Surge in technological advancements in the field of orthopedic implants is predicted to boost the market growth during the forecast period. Orthopedic implants are medical devices strategically positioned within or on the body to either substitute for missing body parts or provide reinforcement to organs and tissues. These implants are typically constructed from metal, plastic, or a blend of both materials and are engineered to replicate the functionality of the natural bone or joint they are replacing. Orthopedic implants find application in various medical procedures, including joint replacements, spinal surgeries, and the mending of fractures. For instance, in March 2022, Johnson & Johnson MedTech has revealed that DePuy Synthes, the orthopedics division of Johnson & Johnson, is introducing two new innovations to the ATTUNE Knee Portfolio. These innovations are the ATTUNE™ Cementless Fixed Bearing Knee featuring AFFIXIUM 3DP Technology and the ATTUNE Medial Stabilized Knee System.
By product, reconstructive joint replacements was the highest revenue-grossing segment in the global orthopedic implants market in 2023 owing to the growing prevalence of osteoporosis & osteoarthritis, surge in number of prominent companies providing orthopedic implants. Additionally, orthobiologics is predicted to grow at fastest CAGR during forecast period owing to a increasing research & development activities, rising technological advancements for development of orthobiologics, growing availability of orthobiologic products, and surge in launch of new products. For instance, in January 2023, Enovis Corporation, a forward-thinking medical technology firm, has unveiled the DynaClip Delta and DynaClip Quattro Bone Staples, the newest components in the company's expanding foot and ankle portfolio, and the DynaClip® family of bone fixation systems.
By type, knee was the highest revenue-grossing segment in the global orthopedic implants market in 2023 rising prevalence of orthopedic diseases such as osteoarthritis & rheumatoid arthritis and growing introduction of innovative systems. For instance, in December 2022, Arthrex, a prominent global player in minimally invasive orthopedic technology, has introduced the award-winning Arthrex Minimally Invasive Bunionectomy System. This system provides patients with an improved alternative to conventional bunion surgery. Additionally, spine is predicted to grow at fastest CAGR during the forecast period owing to the growing geriatric population, surge in prevalence of spinal disorders, and the broadening of the conditions and reasons for conducting spinal fusion surgery.
By biomaterial, metallic biomaterials was the highest revenue-grossing segment in the global orthopedic implants market in 2023 as these materials are cost-effective, offer efficient bone healing compared to alternative options, & are well-suited for use in orthopedic trauma implant devices such as joint replacements, bone plates, & screws used for fractures and increasing launch of new systems. For instance, in October 2022, Stryker, a prominent global medical technology company, has released the Monterey AL Interbody System. This is a standalone interbody fusion device specially designed for anterior lumbar interbody fusion (ALIF). Additionally, other is predicted to grow at fastest CAGR during the forecast period owing to increasing adoption of these materials and surge in research & development activities to investigate their utilization in orthopedic implant applications.
By end-user, ambulatory surgery centers & hospitals was the highest revenue-grossing segment in the global orthopedic implants market in 2023 owing to the extensive reimbursement policies put forth by major hospitals that offer implantation procedures, growing launch advanced products, rising installation of robotic systems for orthopedic procedures. For instance, in March 2022, THINK Surgical has revealed a collaboration with Centennial Hills Hospital Medical Center, located in California, U.S., to install and provide support for the TSolution One robot. This system is compatible with a range of knee implants from different manufacturers, featuring an open implant library. Additionally, orthopedic clinics & others is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of orthopedic experts, rising novel implant procedures, and increasing collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in prevalence of orthopedic disorders, increasing geriatric population, growing healthcare expenditure, the existence of prominent key players providing advanced orthopedic trauma implants, and rising mergers & acquisitions within market players. For instance, in June 2022, CONMED Corporation has successfully concluded its previously announced acquisition of the privately held In2Bones Global Inc. In2Bones Global Inc. is a worldwide developer, manufacturer, and distributor of medical devices aimed at treating disorders and injuries affecting the upper extremities (hand, wrist, elbow) and lower extremities (foot and ankle). Their extensive product range encompasses implants, fracture systems, biologics, and associated hardware. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing research & development activities, rising prevalence of arthritis & sport related injuries, surge in investments in the healthcare sector, and increasing regulatory approvals. For instance, in October 2022, Johnson & Company The U.S. Food and Drug Administration (FDA) has granted 510(k) approval to DePuy Synthes, the orthopedics subsidiary of Johnson & Johnson, for its TELIGEN System, according to information released by MedTech. This system is an integrated technology platform that facilitates minimally invasive surgical transforaminal lumbar interbody fusion (MIS-TLIF) procedures through digital tools for visualization and access.
Surge in technological advancements in the field of orthopedic implants is predicted to boost the market growth during the forecast period. Orthopedic implants are medical devices strategically positioned within or on the body to either substitute for missing body parts or provide reinforcement to organs and tissues. These implants are typically constructed from metal, plastic, or a blend of both materials and are engineered to replicate the functionality of the natural bone or joint they are replacing. Orthopedic implants find application in various medical procedures, including joint replacements, spinal surgeries, and the mending of fractures. For instance, in March 2022, Johnson & Johnson MedTech has revealed that DePuy Synthes, the orthopedics division of Johnson & Johnson, is introducing two new innovations to the ATTUNE Knee Portfolio. These innovations are the ATTUNE™ Cementless Fixed Bearing Knee featuring AFFIXIUM 3DP Technology and the ATTUNE Medial Stabilized Knee System.
By product, reconstructive joint replacements was the highest revenue-grossing segment in the global orthopedic implants market in 2023 owing to the growing prevalence of osteoporosis & osteoarthritis, surge in number of prominent companies providing orthopedic implants. Additionally, orthobiologics is predicted to grow at fastest CAGR during forecast period owing to a increasing research & development activities, rising technological advancements for development of orthobiologics, growing availability of orthobiologic products, and surge in launch of new products. For instance, in January 2023, Enovis Corporation, a forward-thinking medical technology firm, has unveiled the DynaClip Delta and DynaClip Quattro Bone Staples, the newest components in the company's expanding foot and ankle portfolio, and the DynaClip® family of bone fixation systems.
By type, knee was the highest revenue-grossing segment in the global orthopedic implants market in 2023 rising prevalence of orthopedic diseases such as osteoarthritis & rheumatoid arthritis and growing introduction of innovative systems. For instance, in December 2022, Arthrex, a prominent global player in minimally invasive orthopedic technology, has introduced the award-winning Arthrex Minimally Invasive Bunionectomy System. This system provides patients with an improved alternative to conventional bunion surgery. Additionally, spine is predicted to grow at fastest CAGR during the forecast period owing to the growing geriatric population, surge in prevalence of spinal disorders, and the broadening of the conditions and reasons for conducting spinal fusion surgery.
By biomaterial, metallic biomaterials was the highest revenue-grossing segment in the global orthopedic implants market in 2023 as these materials are cost-effective, offer efficient bone healing compared to alternative options, & are well-suited for use in orthopedic trauma implant devices such as joint replacements, bone plates, & screws used for fractures and increasing launch of new systems. For instance, in October 2022, Stryker, a prominent global medical technology company, has released the Monterey AL Interbody System. This is a standalone interbody fusion device specially designed for anterior lumbar interbody fusion (ALIF). Additionally, other is predicted to grow at fastest CAGR during the forecast period owing to increasing adoption of these materials and surge in research & development activities to investigate their utilization in orthopedic implant applications.
By end-user, ambulatory surgery centers & hospitals was the highest revenue-grossing segment in the global orthopedic implants market in 2023 owing to the extensive reimbursement policies put forth by major hospitals that offer implantation procedures, growing launch advanced products, rising installation of robotic systems for orthopedic procedures. For instance, in March 2022, THINK Surgical has revealed a collaboration with Centennial Hills Hospital Medical Center, located in California, U.S., to install and provide support for the TSolution One robot. This system is compatible with a range of knee implants from different manufacturers, featuring an open implant library. Additionally, orthopedic clinics & others is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of orthopedic experts, rising novel implant procedures, and increasing collaborations within market players.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in prevalence of orthopedic disorders, increasing geriatric population, growing healthcare expenditure, the existence of prominent key players providing advanced orthopedic trauma implants, and rising mergers & acquisitions within market players. For instance, in June 2022, CONMED Corporation has successfully concluded its previously announced acquisition of the privately held In2Bones Global Inc. In2Bones Global Inc. is a worldwide developer, manufacturer, and distributor of medical devices aimed at treating disorders and injuries affecting the upper extremities (hand, wrist, elbow) and lower extremities (foot and ankle). Their extensive product range encompasses implants, fracture systems, biologics, and associated hardware. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing research & development activities, rising prevalence of arthritis & sport related injuries, surge in investments in the healthcare sector, and increasing regulatory approvals. For instance, in October 2022, Johnson & Company The U.S. Food and Drug Administration (FDA) has granted 510(k) approval to DePuy Synthes, the orthopedics subsidiary of Johnson & Johnson, for its TELIGEN System, according to information released by MedTech. This system is an integrated technology platform that facilitates minimally invasive surgical transforaminal lumbar interbody fusion (MIS-TLIF) procedures through digital tools for visualization and access.
Segmentation: Orthopedic Implants Market Report 2023 - 2034
Orthopedic Implants Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Spinal Implants
- Reconstructive Joint Replacements
- Trauma
- Orthobiologics
- Dental Implants
- Others
Orthopedic Implants Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Bn)
- Dental
- Knee
- Spine
- Hip
- Ankle
- Wrist & Shoulder
- Others
Orthopedic Implants Market Analysis & Forecast by Biomaterial 2023 - 2034 (Revenue USD Bn)
- Ceramic Biomaterials
- Polymers Biomaterials
- Metallic Biomaterials
- Others
Orthopedic Implants Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Ambulatory Surgery Centers & Hospitals
- Orthopedic Clinics & Others
Orthopedic Implants Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Orthopedic Implants Market: Product Estimates & Trend Analysis
8. Orthopedic Implants Market: Type Estimates & Trend Analysis
9. Orthopedic Implants Market: Biomaterial Estimates & Trend Analysis
10. Orthopedic Implants Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Orthopedic Implants Market
13. Europe Global Orthopedic Implants Market
14. Asia Pacific Global Orthopedic Implants Market
15. Latin America Global Orthopedic Implants Market
16. MEA Global Orthopedic Implants Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Smith & Nephew plc
- CONMED Corporation
- Medtronic plc
- Globus Medical Inc.
- Stryker Corporation
- Zimmer Biomet Holdings Inc.
- Arthrex Inc.
- Johnson & Johnson
- Colfax Corporation
- NuVasive Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 37.65 Billion |
| Forecasted Market Value ( USD | $ 74.65 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
