Orthopedic Implant Market

Orthopedic Implant Market Outlook (2024 to 2034)

The global orthopedic implant market size is valued at US$ 44.94 billion in 2024, as stated in the updated research study published by Fact.MR. Worldwide revenue from the sales of orthopedic implants is forecasted to increase at a CAGR of 6.6% and reach US$ 85.17 billion by the end of 2034.

Rising cases of orthopedic disorders along with an increasing population of senior people are pushing demand for orthopedic implants. Elderly people account for a significant share of replacement surgeries and orthopedic surgeries for multiple causes, such as accidents and bone deformities. Increasing rates of co-morbidities, including diabetes and obesity are adding to the risks of degenerative joint diseases, particularly among older people.

Increasing engagement of young people in fitness activities and sports is leading to a rising number of injuries, which is further generating demand for orthopedic implants. Growing cases of disorders or diseases, such as osteoarthritis and arthritis are contributing to increased demand for orthopedic implants to replace bone, joint, or cartilage owing to deformity or damage. Customized orthopedic implants designed with the use of 3D printing technology are helping minimize the duration and cost of surgery and facilitate long-term stability.

Technological innovations, including the use of robot-assisted surgical tools, are helping healthcare professionals offer more effective services. Moreover, the widespread use of orthopedic implants for the treatment of musculoskeletal, injuries, and orthopedic diseases along with the acceptance of various types of implantable medical devices are some factors contributing to the global market growth going forward.

• South Asia & Pacific is evaluated to account for a 22.3% share of global market revenue by the end of 2034.
• Worldwide demand for orthopedic implants for knee reconstruction is projected to accelerate at 7.5% and reach a market value of US$ 24.83 billion by 2034.
• Hospitals are approximated to account for 49.8% share of revenue generation by 2034-end.

Report Attribute	Detail
Orthopedic Implant Market Size (2024E)	US$ 44.94 Billion
Forecasted Market Value (2034F)	US$ 85.17 Billion
Global Market Growth Rate (2024 to 2034)	6.6% CAGR
South Korea Market Growth Rate (2024 to 2034)	7.9% CAGR
North America Market Share (2034F)	34.9%
Market Share of Metallic Orthopedic Implants (2034F)	64%
Key Companies Profiled	CeramTec; Globus Medical Inc.; Arthrex; Johnson & Johnson; DJO Finance LLC; Zimmer Biomet Holdings; Smith & Nephew Plc.; CONMED Corporation; B. Braun Melsungen AG; DePuy Synthes; Stryker Corporation; MicroPort Scientific Corporation; Lina Corporate S.p.A.; ConforMIC; Exatech Inc.

What is Complementing Global Orthopedic Implant Market Growth?

“Increasing Population of Geriatric People Worldwide”

The increase in the population of elderly people is contributing to the rising number of orthopedic surgeries for multiple causes, for instance, bone damage and accidents. In addition, some lifestyle issues, including obesity, excess fat depositions, and reduced physical activities lead to knee & joint pains, thereby more patients are opting for replacement surgeries. In addition, there is an increase in the cases of chronic orthopedic disorders, such as osteoporosis, characterized by deterioration of bone structure and low bone mass. These factors are generating a high demand for orthopedic implant surgeries for improved bone health.

“Higher Acceptance among Patients for Integrating Implants”

There is growing acceptance for integrating implants among patients with image techniques, which is contributing to the orthopedic implant market growth. Moreover, there is rising adoption of different treatments, such as shifting from traditional invasive surgical procedures to minimally invasive techniques for multiple orthopedic disabilities or disorders. Increasing use of 3D printing in orthopedic implants with the integration of image techniques involves magnetic resonance computing & images of tomography. Their growing use in traumatology, oncology, and spine surgeries is contributing to the expanding orthopedic implant market size.

What Could Possibly Limit Demand for Orthopedic Implants?

“High Cost of Product and Procedure”

Orthopedic implant procedures are comparatively costly. It includes quite a task of replacing suitable orthopedic implants and determining the possibility of bone regeneration. Further, high-quality materials are used in making orthopedic implants, for instance, metal, ceramic, and polymer, which increase overall production costs, subsequently adversely impacting market growth.

Which Orthopedic Implant Market Trends are Opening Up New Opportunities for Startups?

“Technological Advancements Enabling Startups Offer Customized Joint Implants”

Constant advancements are taking place in medical devices used in the healthcare industry. Modern technologies are helping aspiring market players build medical implants as per patient’s anatomy. Customized joint implants are required according to the patient's anatomy. Startups are developing state-of-the-art technologies for offering technologically progressive implants to increase their profit share.

Country-wise Insights

A recently updated report by Fact.MR, a market research and competitive intelligence provider, in its updated study, stated that North America is calculated to account for 34.9% of the global market share by the end of 2034. An amplified push to innovate new implant solutions by the FDA, favorable policies for reimbursement models, and investment in R&D activities by leading pharmaceutical for developing more advanced implant options are driving market growth.

Why are Orthopedic Implant Procedures Popular in the United States?

“Growing Cases of Osteoarthritis and Increasing Geriatric Population”

Attribute	United States
Market Value (2024E)	US$ 13.82 Billion
Growth Rate (2024 to 2034)	6.6% CAGR
Projected Value (2034F)	US$ 26.09 Billion

The United States is analyzed to contribute 83.9% share of the market in North America by 2034-end. Increasing cases of osteoarthritis along with a growing geriatric population are driving demand for orthopedic implants. Moreover, a good scenario for reimbursement of healthcare expenditure for the treatment of musculoskeletal disorders under medicare policies is opening doors for suppliers of orthopedic implants in the United States.

What Makes India a Key Market for Orthopedic Implant Manufacturers?

“Advancements in Diagnostics and Favorable Reimbursement Policies”

Attribute	India
Market Value (2024E)	US$ 2.53 Billion
Growth Rate (2024 to 2034)	11.3% CAGR
Projected Value (2034F)	US$ 7.38 Billion

India is evaluated to occupy a share of 64.7% of the market in South Asia & Pacific by the end of 2034. Constant advancements are taking place in diagnostics to detect bone density across diagnostic laboratories. Moreover, governmental and commercial organizations are providing greater reimbursement facilities in the country, which is pushing patients to undergo transplantation procedures if suggested. The growth of healthcare infrastructure in India is ensuring patients effective treatment facilities.

What is Complementing to Demand Growth for Orthopedic Implants in South Korea?

“Rapidly Advancing Healthcare Infrastructure in the Country”

Attribute	South Korea
Market Value (2024E)	US$ 1.67 Billion
Growth Rate (2024 to 2034)	7.9% CAGR
Projected Value (2034F)	US$ 3.58 Billion

South Korea is approximated to hold 21.5% of the East Asian market share by 2034-end. The healthcare infrastructure in the country is undergoing significant developments. More effective and advanced healthcare facilities are ensured to patients. Thereby, there are increased chances for orthopedic implant procedures in cases of bone deformities.

Category-wise Insights

Worldwide demand for metallic-based orthopedic implants is forecasted to increase at a CAGR of 6.4% and reach a value of US$ 54.54 billion by the end of 2034, as asserted in the report published by Fact.MR. Metal alloys such as titanium are used prominently for making implants due to their ability to effectively mimic ligaments or cartilage.

Which Type of Orthopedic Implant is Widely Preferred?

“Growing Use of Knee Implants with Rising Cases of Orthopedic Diseases”

Attribute	Knee Reconstruction
Segment Value (2024E)	US$ 12.05 Billion
Growth Rate (2024 to 2034)	7.5% CAGR
Projected Value (2034F)	US$ 24.83 Billion

Orthopedic implants for knee reconstruction are projected to occupy a 29.2% share of the global market by the end of 2034. Surging cases of orthopedic diseases are leading to knee reconstruction procedures during critical conditions. Currently, available implant designs closely mimic the movements of a normal knee and very well understand joint complexity. In addition, the growing production of knee implants with increased longevity or function is generating remunerative opportunities for market players.

Why are Hospitals Preferred for Undergoing Orthopedic Implant Procedures?

“Favorable Reimbursement Policies for Patients Admitted in Hospital Settings for Orthopedic Implants”

Attribute	Hospitals
Segment Value (2024E)	US$ 23.59 Billion
Growth Rate (2024 to 2034)	6% CAGR
Projected Value (2034F)	US$ 42.4 Billion

Hospitals are forecasted to account for 49.8% of the orthopedic implant market share by 2034. More patients are giving preference to hospitals to get treatments in case of bone injuries and fractures. In addition, the increasing number of hospital admissions is caused by road accidents or other reasons, such as bone deformities.

Favorable reimbursement policies for patients getting admitted to hospitals compared to the ones opting for treatment at outpatient facilities are leading to the rising demand for orthopedic implant procedures in these settings. In addition, the presence of skilled healthcare professionals and the availability of more advanced technologies and equipment is contributing to the rising admission of patients for orthopedic implants in hospitals.

Competitive Landscape

Key players in the orthopedic implant market are embracing some innovative approaches, such as technological advancements, acquisitions, mergers, ground-breaking marketing tactics, and others to expand their reach.

For instance :

• Strykey, in January 2022, announced an agreement of acquisition of Vocera Communications, Inc.’s common stock. The former is one of the leading medical technology companies and together with its customers helps to make healthcare better.
• DePuy Synthes, a Johnson & Johnson’s division, announced the acquisition of OrthoSpin in December 2021. OrthoSpin is based in Israel and creates external fixation systems assisted by robots for orthopedic treatment.

Fact.MR provides detailed information about the price points of leading manufacturers of orthopedic implants positioned across the world, sales growth, production capacity, and speculative technological expansion, in the recently updated market report.

Segmentation of Orthopedic Implant Market Research

• By Type :

  • Hip Reconstruction
    • Total Hip Reconstruction
    • Partial Hip Reconstruction
    • Revision Implants
  • Knee Reconstruction
    • Total Knee Reconstruction
    • Partial Knee Reconstruction
    • Revision Implants
  • Shoulder Implants
    • Anatomical Shoulder Prosthetics
    • Reverse Shoulder Prosthetics
  • Foot & Ankle Implants
  • Elbow Implants
  • Hand & Wrist Implants
  • Dental Implants
  • Spinal Implants

• By Material :

  • Metallic
  • Ceramic
  • Polymeric

• By End User :

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA