Asia-Pacific Orthopedic Implants Market report can be mainly categorised into four main areas which are market definition, market segmentation, competitive analysis and research methodology. Each of these chapters is researched and analysed in detail for formulating this comprehensive market research report. The report carries out the study of the market with respect to general market conditions, market status, market improvement, key developments, cost and profit of the specified market regions, position and comparative pricing between major players.
Data Bridge Market Research analyses that the Asia- Pacific orthopedic implants market which was USD 4,603.62 million in 2021, would rocket up to USD 7505.26 million by 2029, and is expected to undergo a CAGR of 6.3% during the forecast period 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Some of the major players operating in the orthopedic implants market are:
Smith & Nephew plc (U.K)
OSSTEM IMPLANT CO., LTD. (South Korea)
Narang Medical Limited (U.S)
Integra LifeSciences Corporation (U.S)
W. L. Gore & Associates, Inc. (U.S)
Johnson & Johnson Private Limited (U.S)
Internal fixation surgery, which entails the placement of implants to cure broken bones, frequently employs orthopaedic devices for anchoring fractured bones. Accidents and sports injuries are becoming more common around the world, which is propelling the market forward. The number of orthopaedic surgeries is increasing, which is hastening the use of orthopaedic devices. In addition, technological advancements are increasing the demand for orthopaedic equipment.
Orthopedic implants are used to change or support a missing or damaged bone or joint in a patient’s body. The orthopaedic implants are intended to cure deformities or fractures, among other things, in order to restore normal skeletal function and stable body posture. The orthopaedic implants market has transformed as a result of technological advancements, which has resulted in a shift away from traditional surgical methods and toward the usage of current fixation and prosthetic devices.
Rise in the geriatric population
The market is being pushed by an ageing population and rising rates of osteoarthritis and osteoporosis around the world. Furthermore, increased medical tourism and technological improvements have played an important role in the global market’s expansion. The Orthopedic Implants Market is being driven by factors such as an increase in the geriatric population, a high risk of osteoporosis and osteoarthritis, as well as an increase in joint replacement and sports accidents around the world. Over the forecast period of 2022 to 2029, fractures and trauma cases are also expected to increase the Orthopedic Implants Market. Furthermore, technical advancements such as 3D printing and smart sensors, both of which have a high product penetration, are boosting market growth.
Advent of 3D printing technology
This has expanded a lot of attraction among medical device manufacturers for making patient-specific implants, prototypes, and biodegradable implants, among other things, propelling the industry forward.
Significant rise in the number of osteoporosis patients
In the coming years, advances in limiting side effects are projected to generate profitable prospects for the orthopaedic business. Obesity and diabetes, for example, have been linked to an increase in the incidence of degenerative joint disease, particularly among the elderly. As more young people engage in sports and fitness activities, the number of accidents associated with these activities rises. This has resulted in a rise in demand for orthopaedic implants all around the world.
In several areas, robotic surgery is becoming more popular. The use of automation in orthopaedic implant technologies is allowing for new growth opportunities. Furthermore, the use of robots simplifies the process. Robots are capable of doing more successful surgery than human surgeons. It increases robot adoption in the Orthopedic Implants Market. It is a necessary component that promotes rapid growth. Furthermore, growing research and development is another factor that provides potential for growth. The market’s top regional companies are investing millions of dollars in orthopaedic implants.
However, the orthopaedic implants market’s growth may be hampered by tight government standards for approval of orthopaedic implants, as well as the high cost of treatments including orthopaedic implant therapy.
Screws are crucial for the stability of most screw-plate fixation devices, and they are frequently associated with failure owing to pull-out caused by poor screw purchase or bone loss. Plates provide anatomic fracture reduction with open procedures as well as stability for early muscle-tendon unit and joint function, but they must be safeguarded from premature weight-bearing. The possibility of bone refracture following plate removal, stress protection, osteoporosis beneath a plate, plate irritation, and, in rare circumstances, an immunologic reaction are all disadvantages of plate fixation.
This orthopedic implants market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the orthopedic implants market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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COVID-19 Impact on Orthopedic Implants Market
This was predicted to have a detrimental influence on the need for orthopaedic sessions, which are often performed in outpatient settings. The emergence of COVID-19 has had an influence on the market, as hospital and health-care services have been severely constrained by governments around the world in response to societal unrest. Furthermore, the COVID-19 outbreak has impacted the worldwide economy and has had a considerable influence on regular hospital care for non-COVID-19 patients in hospitals all over the world. Due to the closure of many hospitals and clinics, the demand for digital bone implants is expected to decline in the near future.
Medtronic announced in October 2020 that their Adaptix Interbody System, the first guided titanium implant with Titan nanoLOCK Surface Technology, would be available in the United States. The company’s new product has enhanced its credibility and demand in the market, resulting in greater revenue in the region.
Smith & Nephew plc stated in September 2020 that it had introduced its REDAPT System for revision total hip arthroplasty (rTHA) in the Chinese market. The company’s new product has raised its sales and demand in the Asia-Pacific area.
Asia-Pacific Orthopedic Implants Market Scope
The orthopedic implants market is segmented on the basis of product, type, biomaterial and end- user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Vertebral Compression Fracture (VCF) Devices
Motion Preservation Devices/Non-Fusion Devices
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Key Questions Answered in This Report: How does our product and services portfolio compare to leading competitors? What are the key developments in customer demand given the changing economy? What are the new pricing and consumption models in the marketplace and how should we align our portfolio? What are the key decision drivers for services buyers? How can we accelerate our bidding process? What is the potential of this Market? What is the impact of COVID-19 on this Market? What are the top strategies that companies adopting in this Market? What are the challenges faced by SME’s and prominent vendors in this Market? Which region has the highest investments in this Market? What are the latest research and activities in this Market? Who are the prominent players in this Market? What is the potential of the this Market?
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