The North America orthopedic implants market is expected to grow by 2025 due to the increasing geriatric population in the region. The metallic biomaterials sub-segment is expected to be the most profitable.
NEW YORK, Jan. 27, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "North America Orthopedic Implants Market by Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Trauma, Orthobiologics, and Others), Biomaterial (Metallic, Ceramic, Polymeric, and Others), and Type (Knee, Hip, Wrist & Shoulder, Dental, Spine, Ankle, and Others): North America Opportunity Analysis and Industry Forecast, 2018-2025".
As per the report, the North America orthopedic implants market is predicted to grow at a noteworthy CAGR of 3.9% in the 2018-2025 timeframe, thereby gathering $30,646 million by 2025.
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Dynamics of the Market
Drivers: The steadily rising geriatric population across the region is expected to be the primary growth driver of the North America orthopedic implants market in the forecast period. Along with this, the shift from conventional surgical procedures to the use of modern fixation and prosthetic devices is predicted to help this market grow in the forecast period.
Opportunities: Increasing research and development in the field of orthopedic implants is anticipated to offer huge growth opportunities to the market in the forecast period. Moreover, increase in the elderly population in the North America region is anticipated to push the growth rate of the market even higher.
Restraints: High costs of medical procedures involved with orthopedic implantations, however, might restrict the growth of the North America orthopedic implants market.
Segments of the Market:
The report has fragmented the North America orthopedic implants market into different segments based on product type, biomaterial, and country.
- By product type, the reconstructive joint replacements sub-segment is predicted to be the most dominant sub-segment in the North America region. The increase in the prevalence of osteoporosis & osteoarthritis along with innovations in joint replacement therapies are expected to be the two main factors behind the growth of this sub-segment in the forecast period.
- By biomaterial, the metallic biomaterials sub-segment of the North America orthopedic implants market is expected to be the most dominant during the forecast period. The wide usage of metallic biomaterials to manufacture various orthopedic implants such as screws, plates, vertebral compression fracture (VCF) devices, etc. is expected to be the important factor behind the growth of this sub-segment.
- By country, the North America orthopedic implants market is studied across U.S., Canada, and Mexico.
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Significant Market Players
The significant market players in the North America orthopedic implants market are
- Johnson & Johnson (DePuy Synthes)
- Smith and Nephew Plc.
- Arthrex Inc.
- Zimmer Biomet Holdings Inc.
- Wright Medical Group N.V.
- DJO Finance LLC
- Stryker Corporation
- CONMED Corporation
- Globus Medical Inc.
- Medtronic Plc
These key market players are developing different business strategies like product development, merger and acquisitions, collaborations and partnerships to gain a commanding position in the market.
For instance, in May 2021, Shalby, an Indian hospital chain, announced that it was acquiring certain assets of Consensus Orthopedics, a leading orthopedic implants manufacturer in Sacramento, California. This acquisition will help Shalby to enter in the North America orthopedic implants industry and consolidate its position in the market in the coming period.
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The Research Dive report also summarizes many crucial aspects of the North America orthopedic implants market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about North America Orthopedic Implants Market:
- How Are Companies Transforming the Face of North America Orthopedic Implants Market?
- North America Orthopedic Implants Market to Witness Huge Growth Due to Acquisitions Like That of Simplify Medical by NuVasive
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