North America Orthopedic Implants Market Size By 2025
Market: North America Industry Analysis
A new report by Research Dive, titled “Orthopedic Implants Market: North America Opportunity Analysis and Industry Forecast, 2018-2025,” shows that the North American orthopedic implants market was valued at $23,461 million in 2018. By 2025, it is projected to reach $30,646 million. This represents a CAGR of 3.9% from 2019 to 2025.
Orthopedic implants are medical devices surgically placed inside the body. They help restore bone function by reinforcing or replacing a damaged structure. Some implants are permanently incorporated, while others are removed after achieving the desired results.
The demand for implants in North America has risen due to the increase in joint surgeries like knee, hip, and shoulder replacements.
Key Drivers and Challenges of the Orthopedic Implants Market
Several factors contribute to the growth of the North American orthopedic implants market. A rise in orthopedic injuries and diseases plays a significant role. The aging population also influences demand.
Technological innovations, such as robot-assisted surgical tools, support the market’s expansion. The growing acceptance of implantable medical devices has contributed as well. Additionally, orthopedic implants are used extensively to treat musculoskeletal and orthopedic diseases and injuries.
Despite these factors, high costs associated with orthopedic implants and strict government policies present challenges.
By product type, the reconstructive joint replacements segment is expected to capture the largest share during the forecast period. This segment is expected to maintain its dominance due to the rise in osteoporosis and osteoarthritis. The investment of key players in R&D also supports this growth.
The OrthoBiologics segment is the fastest-growing during the forecast period. The demand for advanced therapies and minimally invasive procedures, along with rising patient awareness, drives this growth.
According to type, the knee segment accounted for the highest orthopedic implant market share in 2018 and is anticipated to maintain this trend during the forecast period. However, the spine is estimated to register the highest CAGR during the forecast period attributed to an increase in the geriatric population, a rise in the incidence of spinal disorders, and an expansion in the indications for which spinal fusion surgery is performed.
By material type, the metallic biomaterials segment occupied the largest share in 2018, owing to the cost-effectiveness of these materials. Metallic biomaterials provide efficacy in bone healing as compared to other materials.
These are used to manufacture various orthopedic implants such as screws, plates, vertebral compression fracture (VCF) devices, and others.
However, other biomaterials are estimated to register the highest CAGR during the forecast period. This is due to the growing demand for these materials owing to their several advantages over synthetic biomaterials.
These advantages include biocompatibility, non-toxicity, and potential protein binding sites. They may also carry biochemical signals that aid tissue healing or integration.
Key Findings of the Market:
- The OrthoBiologics segment is anticipated to grow at the highest rate during the forecast period.
In 2018, the U.S. held the largest share of the North American orthopedic implants market, accounting for more than three-fourths.
- The metallic segment occupied more than half a share of the total biomaterial market in 2018.
- The knee segment accounted for approximately one-fourth share of the orthopedic implants market in 2018.
Source: https://www.researchdive.com/1/north-america-orthopedic-implants-market
