Posts

implant market

The Orthopedic Implant Market: A Closer Look

The international orthopedic implant market owes a lot of its growth over the years to increases in global life expectancy. As more people are living further into old age, they open themselves up to increases risks of osteoporosis and osteoarthritis. It’s a trade-off many are glad to make, especially with the quality of orthopedic implants available on the market.

Join us today as we break down the state of the implant market as it currently stands!

Orthopedic Implants: A Closer Look

For example, according to WHO, the average life span in Japan is about 83.7 years and the average life span in Korea is 82.3 years.

Any discussion of the orthopedic implant market has to start with a closer look at the numbers. In 2017, at last measurement, the orthopedic implant market weight in at $ 481.88 million. That’s a gigantic number, at an annual average growth rate of 4.84%. It’s also completely in line with what we expect from orthopedic implants.

By 2025, this number is expected to reach $ 655.33 million. Orthopedic implants for knees make up the lion’s share of this market segment, particularly in North America.

The Market Itself

What can we owe this continuing upward trend in the orthopedic implant market to? The answer shouldn’t be too surprising: changing lifestyles and sports injuries, trauma, wear and tear, and illnesses are all common enough. And with huge sections of the global population living longer than ever, more people than ever need medical assistance.

Depending on the type of application, orthopedics can be broken down into different implant markets. Hip, knee, craniomaxillofacial, and dental orthopedic implants, as well as sports medicine implants each dominate their own unique fields.

The Final Word

Overall, it’s clear that implants tend to match pace with other technological developments. Companies developing new implant devices to solve new problems as awareness of new technology opens those specific doors for them.

It’s with this in mind that the orthopedic implant market is set to grow from strength to strength in the coming years. Discover high-end implants from a leading name in the manufacturing industry today, with Toby Orthopaedics.

Where is the Orthopedic Implant Market Headed for 2019?

Due to technological advancement, the orthopedic Implant market is experiencing a crazy increase throughout the whole world. Why is this happening? Studies show that higher numbers of fractures and osteoporosis have catalyzed the industry by forcing out more sophisticated implants. Where is the Orthopedic Implant Market Head for the future?

With high numbers of people with obesity, and those who have a more sedantic lifestyle, the implant market has been growing due to the higher need for efficient implants.

Also, with more developing countries, orthopedic implants are becoming much more accessible. However, factors like pricing and regulations have stopped the expansion of the orthopedic implant market from gaining all the traction it could.

The implant market is forecasted to reach a 4% growth in CAGR from the year 2019 to 2023, with an expected growth of 6.8% from 2019 to 2025. The industry is moving fast due to higher numbers of people not only requiring implants, but increased accessibility as the market has opened up globally.

As the need for medical implants grows companies are spreading their wings to create more efficient designs. New product launches help in boosting the market, as new products will be available.

Companies have been hard at work, trying to create implants that are long lasting, lightweight, and with low risk of side effects. And with the arduous competition that perpetuates these companies creations, the market will experience an even greater growth in 2019- 2025.

The market is expected to reach $42.2 billion by this year with ever-growing numbers in the years to come. Technological advancements have perpetuated this growth, especially the use of 3-D printers which making designing new metal implants much easier.

We at Toby Ortho hope you enjoyed this analysis of the Orthopedic Implant Market. Visit our website to get the latest in medical implant tech!