The global orthopedic implants market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has released a new market research report on the global orthopedic implants market for the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the market is the technological advances and new product launches. In terms of technology, materials, surgical techniques, methods of fixation and sterilization of prostheses preoperative management, and methods of preventing complications, the market is witnessing significant technological advances. Manufactures have made significant enhancements to implant materials and processing methods of implant parts, which has made them more reliable, durable, and long-lasting. For example, manufacturers are developing implants made of a new type of plastic called the highly cross-linked polyethylene which will significantly slow down the wearing out of implants.
As per Technavio, the increasing number of outpatient orthopedic implant surgeries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global orthopedic implants market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global orthopedic implants market: Increasing number of outpatient orthopedic implant surgeries
An increasing number of arthroplasty surgeons have been performing outpatient orthopedic implantation procedures without serious medical or psychiatric comorbidities, over the past few years. Factors such as advances in surgical techniques, implants, comprehensive blood management, multimodal pain management, and post-operative care management have significantly reduced the duration of stay in hospital and nearly eliminated the need for extensive formal rehabilitation. For example, technology advances in minimally invasive spine surgery enables the patients to undergo spine surgery and return home the same day.
“Several end-users prefer outpatient orthopedic implantation procedures over inpatient procedures due to various advantages, including shorter hospital stay, increased patient satisfaction, and reduced costs to the healthcare system and the patient. In outpatient orthopedic implantation procedures, there is a reduced chance of contracting hospital-acquired infections which improves surgery outcomes,” says a senior analyst at Technavio for research on human machine interface.
Global orthopedic implants market: Segmentation analysis
This market research report segments the global orthopedic implants market by product (joint reconstruction implants, spinal implants, and craniomaxillofacial implants) and geographical regions (APAC, EMEA, and the Americas).
The joint reconstruction implants segment held the largest market share in 2018, accounting for over 68% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2018 with a market share of nearly 57%. This region is expected to dominate the market through 2023, with nearly 2% increase in its market share.
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Market Landscape
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Market Sizing
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Five Forces Analysis
Market Segmentation
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Market Drivers
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