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The global orthopedic implants market size is estimated to reach USD 32.5 billion by 2030, registering a CAGR of 3.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. An increase in the frequency of musculoskeletal problems, the rising geriatric population, and high 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 & internal fixation devices, and a rise in the number of patients in their middle age choosing orthopedic implantable devices are other factors driving market growth.
The market is driven by the rising emergence of musculoskeletal disorders, the growing advent of biodegradable implants and internal fixation devices, and the growing elderly population. For instance, the aging population is propelling the demand for orthopedic solutions globally, and according to WHO's October 2022 estimates, by 2030, one in six people worldwide will be aged 60 years or older. In 2022, the population of people aged 60 years and above will rise to 1.4 billion from 1 billion in 2020. In addition, the upsurge in orthopedic device usage and the increasing number of middle-aged patients opting for orthopedic implants are further propelling market growth.
The demand for joint replacement and other related medical devices is expected to grow as prevalent chronic joint disorders such as osteoarthritis (OA) are witnessing an increasing number of patients, requiring the development and usage of advanced orthopedic implantable devices. Osteoarthritis (OA) is a common condition that affects many people, and it is projected to impact almost a billion people by 2050. Furthermore, in September 2023, according to a study titled “Global, regional, and national burden of OA, 1990–2020 and projections to 2050” highlighted that by 2050, cases of OA for the knee, hand, hip, and other types of OA will increase by significant percentages of 74.9%, 48.6%, 78.6%, and 95.1%, respectively.
The improvement in the regulatory landscape, along with ongoing efforts by industry players to innovate products that offer better bioactivity, biocompatibility, and suitable mechanical properties, is further driving market growth. Recently, in March 2022, Molecular Matrix, Inc. unveiled the commercial launch of its Synthetic Bone Graft, branded as Osteo-P. Primarily employed as a substitute in the musculoskeletal system, this product is developed using HCCP technology, which significantly benefits bone regeneration and repair processes.
Gather more insights about the market drivers, restrains and growth of the Orthopedic Implants Market
Orthopedic Implants Market Report Highlights
• The lower extremity implants product segment held the largest revenue share in the market in 2023. This is due to the increasing prevalence of orthopedic conditions, advancements in implant materials and designs, and the growing demand for improved quality of life through surgical interventions.
• The hospitals end use segment held the largest revenue share. This can be attributed to significant infrastructure and a growing patient population.
• North America dominated the market due to the presence of a large number of major market players and the high adoption of advanced technologies.
Orthopedic Implants Market Segmentation
Grand View Research has segmented the global orthopedic implants market based on product, material, end-use, and region:
Orthopedic Implants Product Outlook (Revenue, USD Million, 2018 - 2030)
• Lower Extremity Implants
o Knee Implants
o Hip Implants
o Foot & Ankle Implants
• Spinal Implants
• Dental
o Dental Implants
o Craniomaxillofacial Implants
• Upper Extremity Implants
o Elbow Implants
o Hand & Wrist Implants
o Shoulder Implants
Orthopedic Implants Material Outlook (Revenue, USD Million, 2018 - 2030)
• Metallic Material
o Stainless steel
o Titanium
o Titanium Alloy
o Cobalt Alloy
o Others
• Ceramic Biomaterials
• Polymeric Biomaterials
• Others
Orthopedic Implants End-use Outlook (Revenue, USD Million, 2018 - 2030)
• Hospitals
• Outpatient Facilities
Orthopedic Implants Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o Spain
o Italy
o France
o Denmark
o Norway
o Sweden
• Asia Pacific
o Japan
o China
o India
o Australia
o Thailand
o South Korea
• Latin America
o Brazil
o Mexico
o Argentina
• Latin America
o South Africa
o Saudi Arabia
o UAE
o Kuwait
Order a free sample PDF of the Orthopedic Implants Market Intelligence Study, published by Grand View Research.
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