Global Orthopedic Implants Market is poised to grow at a 4.5 % CAGR by 2027 : Medi-Tech Insights

BRUSSELS - May 4, 2023 - PRLog -- An orthopedic implant is a manufactured device designed to replace a joint, bone, or cartilage due to damage or deformity such as from breaking a leg, losing a limb, or a congenital defect.

Technological Innovations in Orthopedic Implants Triggers the Demand of the  Orthopedic Implants Market

Rapid innovations and developments in orthopedic implants such as surgical navigation to guide surgeons through the implantation, robotics-assisted orthopedic surgeries and AI-powered guidance software to assist surgical procedures are poised to drive the growth of the orthopedic implants market in the upcoming years.

Upcoming Market Challenges: Orthopedic Implants Market

The high costs of the implants combined with the need for revision procedures every few or alternate years depending on the wear & tear of the implant, and ill-effects associated with the orthopedics implant post-surgery such as implant rejection, septic, & allergies, etc. are likely to hamper the growth of the orthopedic implants market in the upcoming years.

North America is Set to Hold a Larger Share in the Orthopedic Implants Market

From a geographical overview, North America is estimated to hold a larger market share in the global orthopedic implants market. This can be mainly attributed to the growing geriatric population, adoption of technologically advanced orthopedic implants among surgeons, an increasing awareness on osteoporosis care, and favorable reimbursement landscape in this region.

Competitive Landscape Analysis: Orthopedic Implants Market

Some of the well-established players operating in the global orthopedic implants market are Arthrex Inc., NuVasive, DePuy Synthes, and Stryker Corporation, among others.

Growth Strategies Adopted by the Leading Market Players to Establish Their Strong Foothold in the Orthopedic Implants Market

All the leading players operating in the global orthopedic implants market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions, advancements and new product launches to garner a higher market share.

For instance,

• In September 2022, Zimmer Biomet Holdings, Inc. announced an exclusive, multi-year co-marketing agreement with Surgical Planning Associates, Inc. to commercialize HipInsight, the first FDA-cleared mixed reality navigation system for total hip replacement.
• In March 2022, Evonik announced the launch of its 3D printable biomaterials VESTAKEEP IC4800 3DF. The portfolio expansion focuses on offering innovation in osteoconductive PEEK filament, which improves fusion between bone and implant.

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