Orthopedic Implants Market Is Expected to Generate Global Revenue Worth US$ 79.5 billion by 2030
The Global Orthopedic Implants Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, supply chain analysis, competitive landscape, and market composition analysis.
The global orthopedic implants market size was estimated to be US$ 47 billion in 2019 and expected to reach US$ 79.5 billion by 2030 at a CAGR of 5% through 2030. Orthopedic implants are used to support the bones or joints for fixation of different degenerative disorders due to ageing or damaged bones due to accidents. The primary function of the orthopedic implants is to support the joints, treat deformities, restore normal skeletal functions, and stabilize body posture. The demand for orthopedic implants is increasing significantly due to expanding ageing population around the globe. With ageing, the risk of degenerative disorders of bone and joints such as osteoarthritis, and osteoporosis intensifies. Technological advancement in reconstructive joint surgeries through implants to support or replace the degenerated joints has been adopted around the globe, which is dynamically shaping the global orthopedic implants market. Additionally, increasing adoption of advanced prosthetics and fixation technology has fuelled the competition in the market, with leading players engaged in development of biomaterials based orthopedic implants. This is anticipated to bolster the growth of the global orthopedic implants market during the forecast period.
