MCP-3224: ORTHOPEDIC PROSTHETIC IMPLANTS – A GLOBAL STRATEGIC BUSINESS REPORT
January 10, 2017 – Rising Prevalence of Osteoporosis, Arthritis & Other Orthopedic Disorders to Drive Demand for Orthopedic Prosthetic Implants, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Orthopedic Prosthetic Implants market. The global market for Orthopedic Prosthetic Implants is forecast to exceed US$20 billion by 2022, driven by the high prevalence of joint and bone disorders among the growing base of aging population worldwide.
Orthopedic Prosthetic Implants are reconstructive devices that replace deteriorated joints, which occur due to osteoporosis, osteoarthritis, rheumatoid arthritis, traumatic arthritis, avascular necrosis (AVN), abnormal formation or alignment, or other injuries. Osteoporosis is one of the most common metabolic bone diseases across the world that results in weak bones and frequent fractures. Aging population, especially middle-aged women, are more susceptible to this chronic bone malady. Literally meaning "porous bone," osteoporosis is characterized by a decrease in normal bone density due to the loss of calcium and collagen. Globally, around 9.0 million osteoporosis-related fractures occur each year. As per the statistics provided by the International Osteoporosis Foundation (IOF), fracture incidence globally is expected to increase by around 310% in men and 250% in women by 2050 translating into lucrative opportunities for the orthopedic prosthetic implants market.
Future growth in the market will be driven by the growing volume of orthopedic procedures, specifically joint reconstruction surgeries, owing to the aging population and growing number of obese individuals. The obesity pandemic which is due primarily to changing lifestyles and increasingly sedentary lifestyles is a major cause for joints diseases such as arthritis. Other important growth drivers include increasing number of accidents and sports-related injuries; surging risk of traumatic injuries due to intense workouts; growing awareness about treatment options and clinical benefits of orthopedic implants; technological advancements in implant design, surface bearing materials and surgical interventions; expanding medical education and adoption of implants by surgeons; and low penetration rate of orthopedic prosthetic in developing nations. Growing adoption of trabecular metal technology, the trend towards higher priced implants, and the osteoporosis/arthritis risk among the expanding diabetics population are also poised to benefit market prospects in the coming years.
As stated by the new market research report on Orthopedic Prosthetic Implants, the United States represents the largest market worldwide, followed distantly by Europe. Higher healthcare expenditure, superior healthcare infrastructure, large baby boomer population, high volume of orthopedic surgical procedures, and growing appetite for innovative solutions represent key growth drivers in developed markets. Around 70% of people within the 55-78 years age group in the United States are afflicted with osteoarthritis, a figure that is poised to increase further through 2022. Asia-Pacific ranks as the fastest growing market with a CAGR of 5.8% over the analysis period driven by huge untapped and unmet medical need in the field of orthopedics; and growing prominence of medical tourism especially for affordable procedures such as knee replacement, shoulder replacement, hip resurfacing, anterior cruciate ligament (ACL) reconstruction, arthroscopy, meniscal repair, and spinal surgeries.
Key players covered in the report include Amplitude Surgical; B. Braun Melsungen AG; Aesculap Implant Systems, LLC; Baumer S.A; ConforMIS, Inc., Corin Group PLC, DePuy Synthes Companies, DJO Global, Inc., Exactech, Inc., Extremity Medical, LLC, Integra LifeSciences Corporation, Medacta International, Smith & Nephew Plc, Stryker Corporation, Waldemar Link GmbH & Co. KG, Wright Medical Group N.V., and Zimmer Biomet Holdings, Inc., among others.
The research report titled “Orthopedic Prosthetic Implants: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers and challenges, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in value terms for major product categories including Hip Prosthesis; Knee Prosthesis; and Secondary Joint Prosthesis. Geographic markets analyzed in the report include the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World.
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