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The acquisition of privately developed models and niche players is a key strategy adopted by orthopedic giants to expand their presence in the global market for orthopedic implants . According to a recent research report published by Transparency Market Research (TMR), the major players in the market are fiercely competing for premium product shares. The relatively easier regulatory path to introduce innovative devices has allowed new entrants to enter the market.
The major market players presented by the TMR report include Merete Medical, Wright Medical Group SA, Stryker Corporation, DePuy Orthopedics, Inc. (Johnson & Johnson), Integra LifeSciences Corporation, and TEIJIN NAKASHIMA MEDICAL CO., LTD.
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The world market for orthopedic implants in figures will show an impressive expansion over the period 2017-2026
The global market for orthopedic implants will show impressive growth during the forecast period, 2017 to 2026. The global market turnover of orthopedic implants is estimated at nearly US $ 130 million by 2026. The increasing prevalence of osteoarthritis and diseases Rheumatoid arthritis, as well as increasing the geriatric population worldwide has led to an increase in the pool of patients requiring various orthopedic procedures for treatment. Orthopedic implants are a relatively new concept that has grown in recent years, unlike orthopedic implants developed for hip and knee injuries. The increase in life expectancy, associated with the therapeutic demands of patients offering improved quality of life and mobility, are the main trends that push patients to accept digital implants.
Rapid rates of comorbidities including obesity and diabetes increase the risk of developing degenerative joint disease. especially in the elderly. As young people engage more and more in fitness and sport around the world, the relevant injuries are increasing in number.
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Governments and market players around the world take Initiatives to publicize treatment options such as orthopedic implants, which offer a relief alternative to arthrodesis. However, a significant shortage of qualified surgeons, regulatory barriers to product approval and adverse reimbursement policies could hinder the adoption of orthopedic implants with numbers
North American dominance of Worldwide orthopedic implants remain unchallenged [19659002] With a projected market share of nearly 66%, North America's predominance in global orthopedic implants will remain unchallenged. Although less than North America, Europe and the Asia-Pacific ex-Japan (APEJ) will also account for a significant share of market revenues between 2017 and 2026. In contrast, the Middle East and North America East and Africa (MEA) and Japan are expected to represent the lowest market share of the market over the forecast period. Although Latin America currently accounts for a very small share of the market, the demand for orthopedic implants in the region will increase significantly in the foreseeable future.
Depending on the type of product, metacarpal joint implants (upper limb) will witness the strongest demand in the market, with sales estimated at more than US $ 40 million in revenue by the end of 2026 Metatarsal joint implants are expected to be the second most lucrative product on the market and will account for more than a quarter of market share in the market by the end of 2026.
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Transparency Market Research (TMR) is an information society on the market, providing commercial information reports and services. Our proprietary blend of quantitative forecasting and trend analysis provides forward-looking information to thousands of decision makers. VMR's experienced team of analysts, researchers and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offers represent the latest and most reliable information needed by companies to maintain their competitive edge.
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