As people age, they may start having pain in their bones and joints. This pain can be severe, mostly if someone undergoes a traumatic injury in an accident or if a persistent illness is causing their joints or bones to deteriorate. In such conditions, they may need orthopedic replacement or insertion of implants. Let's explore what orthopedic implants are and how they differ from one another. Also, market insights are given in this blog.
Orthopedic devices are medical devices designed to replace a missing joint, bone, muscles, and cartilage. Implants are inserted into the body using various surgical methods by the orthopedic surgeon. These devices help to improve the function of applied body parts or relieve symptoms of a disease. These devices are commonly used in the management of various orthopedic conditions, including fractures, osteoarthritis, sports injuries, spinal disorders, and deformities.
The orthopedic devices market was valued at USD 38 billion in 2022, and it is anticipated to rise to USD 57.76 billion with a CAGR of 4.47% during the forecast period.
Orthopedic devices market continues to grow with technological developments in the sector. The development of invasive techniques, biodegradable materials, smart implants, and 3D printing are fueling market growth. Also, advances in electronics and sensor technologies have resulted in the development of smart implants, also called implantable medical devices.
To Get Insights on the Orthopedic Devices Market: Request a Free Sample Report
The presence of leading business figures, an advanced healthcare system, and reimbursement coverage are contributing to the market growth in North America. The increasing prevalence of orthopedic diseases and the extensive application of innovative treatment techniques are anticipated to fuel orthopedic devices market growth in the US.
Moreover, Asia Pacific is expected to register the fastest CAGR from 2023 to 2032. China and India are predicted to have the largest geriatric population pools in the world. Consequently, it is projected that these countries' demand will rapidly rise.
Some of the orthopedic devices market key players include Medtronic PLC; Stryker Corporation; Zimmer-Biomet Holdings, Inc.; DePuy Synthes; Smith and Nephew PLC; Aesculap Implant Systems, LLC; Conmed Corporation; Donjoy, Inc.; NuVasive, Inc.
In November 2022, Intelivation Technologies debuted the Inlet System, which provides a variety of plating and fastening options for use on the upper and lower extremities. The Inlet System offers solutions for distal radius plating, hand plating, cannulated screws with sizes ranging from 2.3-6 mm and different lengths, clavicle, ulnar, calcaneal, foot, distal tibia, and fibula plates.
The market is witnessing remarkable growth due to the technological advancements that are revolutionizing orthopedic care. The market is majorly driven by rising demand for innovative and effective treatment options.
Attainment of client satisfaction being our motto, we at Polaris are happy to offer you multitude of reasons for why you should select us for your businesses.
Our commitment to our clients lies not only from the inception of our pre-on boarding discussions but also beyond the completion and delivery of our services.
We categorically offer custom-made/ tailored services for our syndicated research reports to provide you insights to meet the strategic requirements of your organization.
On lines of the industry best-practices, we offer our clients the finest in research and consulting services with the most reliable and accurate research findings.