The global bone implant market is growing pervasively over the past few years. Increasing number of orthopedic surgeries, rising occurrences of sports-related injuries and growing geriatric populace are some of the major factors supporting the market growth. Moreover, rising RD expenditures and substantial investments transpired by the players to bring about innovations, and new product launches are escalating the market on the global level.
According to a leading research firm, Market Research Future (MRFR), the global bone implant market share is expected to witness significant growth by 2023. In its recently published analysis, MRFR also asserts that the market would register approximately 6.8% CAGR during the review period (2018-2023). Rising prevalence of osteoarthritis and osteoporosis and the increasing aging population, worldwide, are a key factor fostering the growth of the market.
Moreover, increasing accident cases and increasing hyper-obesity disorders, drive the demand for bone implants, causing severe bone injuries. Augmenting demand for bone implants leads to increasing the size of the market. Technological advancements transpired into medical technology is a dominant driving force behind the growth of the market.
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Several ongoing researches expected to foster market growth, offering the best results, and improving the quality of life of patients. Conversely, the high cost of orthopedic surgeries and bone-implant products are factors impeding the growth of the market.
Also, corrosion and instability occurring in implants alongside, the stringent government policies are obstructing the growth of the market during the assessment period. Nevertheless, bio-resorbable bone implants would support the growth of the market, becoming a vibrant trend.
Major Players:
Players leading the global bone implant market include Globus Medical, Inc., NuVasive, Inc., Depuy Synthes Inc. (Johnson Johnson), Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith Nephew plc., Medtronic, plc, The Orthopedic Implant Company, Integra LifeSciences Holdings Corporation, Aesculap Implant Systems, BioTek Instruments, Inc., Wright Medical Group N.V., Conmed Corporation, and Arthrocare Corporation, among others.
Global Bone Implant Market – Segmentations
The report segments the market into six key dynamics to widen the scope of understanding,
By Biomaterial : Ceramics, Metals, Polymers, and others.
By Product : Orthopedic Plates, Orthopedic Screws, Interlocking Nails (Rods), and others.
By Application : Knee Orthopedic Implants, Hip Orthopedic Implants, Spine Orthopedic Implants, Dental Orthopedic Implants, and others.
By Device : External Fixators and Internal Fixators.
By End-user : Hospitals and Orthopedic Clinics, among others.
By Regions : North America, Europe, Asia Pacific, and Rest-of-the-World.
Global Bone Implant Market – Competitive Landscape
Highly competitive, the bone implant market appears to be fragmented due to the presence of many key players. Manufacturers of bone implants try to develop their products that can offer surgeons a superior option for bone fusion surgery without much of the challenges in the surgical procedures. They strive to offer unique, cutting-edge implant design, and surgical solutions to help patients achieve bone balance.
By using a controlled incremental expansion design, they develop products that allow surgeons to restore the gap and optimize the implant efficiently, literally, for each patient. For the same, they are increasingly investing in RD activities to bring about innovations in the implants.
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