Orthopedic Implants Market Size Worth $67.23 Billion, Globally, by 2028 at 5.6% CAGR - Exclusive Research Report by The Insight Partners

NEW YORK, Sept. 28, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Orthopedic Implants Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis by Product, Application, End User, and Geography", the global orthopedic implants market size is expected to grow from $46.10 Billion in 2021 to $67.23 Billion by 2028; it is expected to grow at a CAGR of 5.6% from 2022 to 2028.

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Orthopedic Implants Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 150 pages with list of tables & list of figures from the report, "Orthopedic Implants Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product (Plates & Screws, Nails & Rods, Pins & Wires, and Others), Application (Reconstructive Joint Replacements, Spine Implants, Dental Implants, Trauma Implants, Orthobiologics, and Others), End User (Hospitals, Orthopaedic Clinics, Ambulatory Surgical Centres, and Others), and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/orthopedic-implants-market

The rising innovation in technology is influencing orthopedic implants market growth. Microbial colonization, infection, and biofilm formation are significant complications in the use of implants and are the predominant risk factors in implant failure. Antimicrobials are increasingly being investigated and applied to implant surfaces to reduce implant-related infections. Antimicrobial coating technology seems to be the most effective way to improve infection control in a hospital without compromising patient care. The scope of applications of antibacterial coating is quite high due to its functional properties to prevent the growth of microorganisms.

The orthopedic implants market growth is driven by the rising incidence of orthopedic injuries and diseases such as osteoarthritis, arthritis, the growing geriatric population, innovation in technology, such as surgical tools with robot-assisted technology, acceptance of implantable devices, and vast applications of orthopedic implants in treating orthopedic diseases, musculoskeletal diseases & injuries. However, stringent government policies and huge costs associated with procedures involved in orthopedic implants are hampering the market growth. Moreover, emerging economies are creating opportunities for the market.

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The incidences of bone deformities conditions are offering potential opportunities for the orthopedic implants market. The treatments of orthopedic conditions and musculoskeletal diseases have been enhanced due to technological advancement. Compared to consuming heavy-dose medicines and hectic therapies, orthopedic implants have reduced the efforts of medication and treatments. The advantages of orthopedic implants, such as braces implants, have remarkably helped many patients manage and reduce their pains and help them to carry out their daily routine activities. Also, the healthcare expenditure has created ample opportunities for developing nations to provide better services and facilities to their people. The adoption of orthopedic implants is likely to increase in emerging regions such as Asia, the Middle East, and Africa. These regions are investing a significant amount in their healthcare sectors, and health awareness has notably increased.

A wide variety of surface-coating technologies are under investigation, ranging from pharmaceutical excipients and antimicrobial agents for medical devices and surgical implants to coatings that ensure disinfection of implant surfaces. Silver is well known for its antimicrobial and antibacterial properties, so it is widely used in the antimicrobial coating. Nanostructured silver is the most prevalent antimicrobial agent in nanoparticles, nanowires, and nanolayers for orthopedic implants. Titanium dioxide is also well known for its antimicrobial properties, and the compound has been shown to kill 99.9% of E. coli colonies. Hydrophilic coatings and biofilm-inhibiting surface technology are some of the recent technologies in implantable devices. For instance, Specialty Coating Systems Inc. offers new SCS microRESIST Antimicrobial Parylene Technology that can effectively eliminate harmful microorganisms on coated medical devices. It can coat the medical implant with biocompatible Parylene coatings with effective antimicrobial properties.

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Impact of COVID-19 Pandemic on Orthopedic Implants Market:

The COVID-19 outbreak led to a decrease in demand for orthopedic implants globally. Orthopedic surgeons have a unique perspective of working with patients, and their teams continue to face various challenges during the crisis. The surgeries related to the orthopedic implants were delayed or performed only in urgent cases such as accidents or sports injuries. Moreover, the healthcare system has now started the operations. Patient care has been improving compared to the initial months of the pandemic. Thus, the impacts of the COVID-19 pandemic hampered the growth of the orthopedic implants market.

The orthopedic implants market study includes the profiles of key orthopedic implant companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years. The list of a few companies engaged in the orthopedic implants market is mentioned below:

• DJO Finance LLC
• Johnson & Johnson (DePuy Synthes)
• Medtronic Plc
• Zimmer Biomet Holdings, Inc.
• Stryker Corporation
• NuVasive, Inc.
• CONMED Corporation
• Smith and Nephew Plc
• Arthrex, Inc.
• Globus Medical, Inc

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

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