The Latest Orthopedic Implants Industry Statistics Explained
The global orthopedic implants market was valued at approximately USD 47.50 billion in 2019.
The statistic indicates that the total value of the global orthopedic implants market was estimated to be around USD 47.50 billion in the year 2019. This value represents the total revenue generated by the sales of various orthopedic implants, such as joint replacements, spinal implants, and trauma fixation devices, worldwide during that year. The high market value reflects the growing demand for orthopedic implants due to an increase in orthopedic disorders, a rise in the aging population, advancements in technology, and improvements in healthcare infrastructure. This statistic highlights the significant size and economic importance of the orthopedic implants market in the healthcare industry globally.
The orthopedic devices market is anticipated to reach over USD 63,813.2 million by 2026.
This statistic indicates the projected value of the orthopedic devices market by the year 2026, estimated to exceed USD 63,813.2 million. This forecast suggests a significant and ongoing growth trend in the global orthopedic devices industry, driven by factors such as the rising prevalence of orthopedic disorders, technological advancements in the field, and an aging population. The anticipated market size highlights the increasing demand for orthopedic devices and signifies potential opportunities for manufacturers, healthcare providers, and investors in this sector over the coming years.
The adoption rate of orthopedic implant is high in the U.S. with around 7 million people living with hip or knee implants as of 2014.
The statistic indicating a high adoption rate of orthopedic implants in the U.S. with around 7 million people living with hip or knee implants as of 2014 highlights the widespread acceptance and utilization of this medical technology within the American population. The significant number of individuals with orthopedic implants underscores the effectiveness and benefits of these devices in improving quality of life and enabling individuals to regain mobility and reduce pain. This statistic suggests a growing trend towards the use of orthopedic implants as a common and successful treatment option for managing hip and knee-related issues in the U.S. population, reflecting the advancements in medical technology and the increasing prevalence of orthopedic surgeries aimed at improving patient outcomes.
By 2023, the global orthopedic implant market size is expected to reach $56,814.1 million.
The statistic that by 2023, the global orthopedic implant market size is expected to reach $56,814.1 million indicates the anticipated total value of orthopedic implants that will be sold worldwide in that year. This metric suggests a significant market potential and growth opportunity for companies operating in the orthopedic implant industry. Factors contributing to this projected market size may include an aging population, advancements in medical technology, increasing prevalence of musculoskeletal disorders, and expanding access to healthcare in emerging markets. The sizeable market value also highlights the importance of orthopedic implants in addressing and treating various orthopedic conditions and injuries, reflecting the ongoing demand for these medical devices on a global scale.
Over half of the worldwide orthopedic implants market (57%) was dominated by spinal devices in 2020.
In 2020, the worldwide orthopedic implants market was largely driven by spinal devices, which accounted for over half (57%) of the market share. This statistic indicates a significant dominance of spinal devices within the orthopedic implants industry, highlighting the importance and widespread use of these devices in healthcare and medical treatments. The strong presence of spinal devices in the market suggests a growing demand for treatments related to spinal conditions and injuries, as well as advancements in technology and development within the field of orthopedic surgery and implantable devices.
The market for orthopedic implants in East Asia is growing at a CAGR of 6% between 2020 and 2030.
The statistic indicates that the market for orthopedic implants in East Asia is experiencing a constant annual growth rate (CAGR) of 6% between the years 2020 and 2030. This suggests that the demand for orthopedic implants in East Asia, which includes countries like China, Japan, and South Korea, is on a steady upward trajectory over the specified period. Factors such as an aging population, increasing incidence of orthopedic conditions, rising disposable incomes, and advancements in healthcare infrastructure and technologies are likely contributing to this growth trend. The CAGR of 6% signifies a sustained and positive market outlook for orthopedic implant manufacturers, healthcare providers, and other stakeholders operating in the region.
In 2019, the knee orthopedic implant segment accounted for the largest share of the orthopedic implant market.
In 2019, the statement “the knee orthopedic implant segment accounted for the largest share of the orthopedic implant market” indicates that among all types of orthopedic implants available in the market for that year, knee orthopedic implants were the most widely utilized or sold. This statistic suggests that knee-related orthopedic procedures and surgeries were in higher demand compared to other orthopedic implant procedures such as hip replacements or spinal implants. The dominance of the knee orthopedic implant segment signifies that there may have been a higher prevalence of knee-related orthopedic conditions or injuries, leading to a greater need for knee implants among patients seeking treatment for such issues.
By 2050, the global population aged 60 years or over projected to reach 2 billion, likely increasing the need for orthopedic implants.
The statistic highlights that by the year 2050, the global population aged 60 years or older is projected to reach 2 billion people. This demographic trend suggests a significant increase in the aging population worldwide, which can have important implications for healthcare services, including a higher demand for orthopedic implants. As people age, they are more prone to orthopedic issues such as osteoarthritis and fractures, which often require surgical intervention and the use of implants to restore mobility and quality of life. Therefore, the projected growth in the elderly population underscores the need to prepare healthcare systems and orthopedic devices manufacturers to meet the anticipated rise in demand for orthopedic implants in the coming decades.
The Asia-Pacific orthopedic implant market is projected to grow at the highest CAGR of 7.6% from 2017 to 2023.
The statistic indicates that the Asia-Pacific orthopedic implant market is expected to experience significant growth at a Compound Annual Growth Rate (CAGR) of 7.6% from 2017 to 2023. This projection suggests that the demand for orthopedic implants in the Asia-Pacific region is increasing steadily over the specified period. Factors contributing to this growth may include an aging population, rising prevalence of orthopedic conditions, technological advancements in implant design, and improvements in healthcare infrastructure. The CAGR of 7.6% reflects the estimated annual rate at which the market is anticipated to expand, highlighting the promising opportunities for orthopedic implant manufacturers and healthcare providers in the region.
Reconstructive joint replacements will continue to be the top contributors to the global orthopedics market, reaching $30.2 billion by 2022.
The statistic indicates that reconstructive joint replacements, such as hip and knee replacements, are projected to remain the leading segment driving growth in the global orthopedics market. By 2022, the market size for reconstructive joint replacements is forecasted to reach $30.2 billion. This suggests a significant demand for surgical procedures aimed at restoring mobility and improving quality of life for individuals with degenerative joint conditions. Factors such as an aging population, increasing prevalence of orthopedic disorders, advancements in surgical techniques, and rising awareness about the benefits of joint replacement surgeries are likely to contribute to the continued growth in this sector of the orthopedics market.
The metal orthopedic biomaterials segment accounted for over 49% of the global market share in 2019.
The statistic reveals that in 2019, the metal orthopedic biomaterials segment held a significant portion of the global market share, amounting to over 49%. This indicates that metal orthopedic biomaterials were a dominant player in the industry during that year, outpacing other types of biomaterials. This high market share suggests that there was strong demand for metal orthopedic biomaterials, possibly due to their proven effectiveness, durability, and other desirable characteristics for orthopedic applications. Companies operating in this segment likely experienced substantial growth and profitability, while also indicating the importance of metal orthopedic biomaterials in the broader healthcare landscape.
The number of hip and knee orthopedic surgeries in the United States is expected to grow by 71% to reach 4 million by the year 2030.
The statistic indicates that the number of hip and knee orthopedic surgeries in the United States is projected to increase significantly, with a growth of 71% predicted to reach 4 million procedures by the year 2030. This growth reflects the aging population and the increasing prevalence of conditions such as osteoarthritis, which often require surgical intervention for symptom relief and improved function. The rise in orthopedic surgeries also highlights the advancements in medical technology, surgical techniques, and healthcare access that enable more individuals to undergo these procedures to maintain or improve their quality of life. Healthcare providers and policymakers may need to anticipate and plan for this surge in orthopedic surgeries to ensure adequate resources and infrastructure are in place to meet the growing demand and ensure optimal patient outcomes.
The orthopedic implant infection market size was valued at USD 908.40 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 5.51% from 2019 to 2026.
The statistic indicates that the orthopedic implant infection market was worth USD 908.40 million in 2018 and is projected to experience a growth rate of 5.51% annually from 2019 to 2026. This means that the market’s value is anticipated to increase steadily over the forecast period. A higher CAGR suggests a faster rate of growth, indicating a positive trend in the demand for orthopedic implant infection products. Factors such as advancements in technology, an aging population, and an increase in orthopedic procedures may contribute to this growth. It is essential for stakeholders in the healthcare industry to closely monitor and adapt to these trends to capitalize on opportunities within the orthopedic implant infection market.
Bio-absorbable implant products in orthopedic surgeries are anticipated to grow at a CAGR of 9.9% from 2020 to 2027.
The statistic indicates that the market for bio-absorbable implant products used in orthopedic surgeries is expected to experience significant growth at a Compound Annual Growth Rate (CAGR) of 9.9% from 2020 to 2027. This growth rate suggests a steady increase in demand for these innovative implant products over the forecasted period. The trend towards bio-absorbable implants in orthopedic surgeries reflects a shift towards more advanced technologies and materials that can be gradually absorbed by the body, reducing the need for follow-up surgeries to remove traditional implants. The anticipated growth highlights a promising outlook for the bio-absorbable implant industry within the orthopedic sector, driven by factors such as technological advancements, increasing prevalence of orthopedic conditions, and growing healthcare investments.
The largest segment of the orthopedic implant market by application is the spine, accounting for 29.3% of total revenues in 2010.
This statistic indicates that in the orthopedic implant market in 2010, the spine was the most dominant area of application, representing 29.3% of the total revenues generated from orthopedic implants. This means that a significant portion of the orthopedic implant industry’s economic activity came from products designed for spinal procedures. The statistic suggests that the demand for orthopedic implants related to spine surgeries was substantial at that time, indicating a potentially high prevalence of spinal conditions and the need for associated treatments such as spinal fusion or disc replacement. Overall, this data highlights the importance and market share of orthopedic implants used in spinal applications within the broader medical device industry.
The number of people undergoing orthopedic surgeries is projected to increase by 25 million by the year 2026.
The statistic that the number of people undergoing orthopedic surgeries is projected to increase by 25 million by the year 2026 indicates a significant rise in the demand for orthopedic procedures in the near future. This projection suggests a substantial increase in the prevalence of orthopedic conditions or injuries requiring surgical intervention over the next few years. Factors contributing to this growth could include an aging population, increasing rates of obesity, and advancements in medical technology leading to improved surgical outcomes and potentially more individuals seeking treatment. Health care providers and policymakers may need to anticipate and plan for this increased demand to ensure adequate resources, facilities, and personnel are in place to meet the needs of the growing number of patients requiring orthopedic surgery.
Conclusion
Orthopedic implants continue to be a crucial component of the healthcare industry, with a growing demand driven by an aging population and increasing prevalence of musculoskeletal disorders. The statistics outlined in this post highlight the substantial market size, technological advancements, and evolving trends shaping the orthopedic implants industry. These insights provide valuable information for stakeholders and decision-makers in adapting strategies and driving innovation in this dynamic sector.
References
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