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.
Orthopedic Implants: A Closer Look
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.