Advanced orthopedic technologies, implants, and regenerative products refer to a range of medical products and techniques used to treat and improve patient outcomes and quality of life for individuals with orthopedic conditions. It is used to improve the results of orthopedic treatments, patients' mobility and functionality, and tissue regeneration and healing.
The main types of advanced orthopedic technologies, implants, and regenerative products are implants and regenerative products. Implants refer to any tool or material used to fix or replace a body component, especially one made of an inert substance. The other products are orthopedic fixation devices, orthopedic replacement devices, orthopedic prosthetics, orthopedic braces and support products, spinal implants and surgical devices, arthroscopy instruments, Ortho biologics, and bone graft substitutes, and various sites are hip and pelvis, foot and ankle, knee and thigh, hand and wrist, shoulder, arm and elbow, spine, and craniomaxillofacial. The various applications include hospitals, ambulatory surgical centers, and specialty clinics.
The global advanced orthopedic technologies, implants, and regenerative products market is segmented -
1) By Type: Implants, Regenerative Products
2) By Product: Orthopedic Fixation Devices, Orthopedic Replacement Devices, Orthopedic Prosthetics, Orthopedic Braces And Support Products, Spinal Implants And Surgical Devices, Arthroscopy Instruments, Orth Biologics, Bone Graft Substitutes
3) By Site: Hip And Pelvis, Foot And Ankle, Knee And Thigh, Hand And Wrist, Shoulder, Arm And Elbow, Spine, Craniomaxillofacial
4) By Application: Hospitals, Ambulatory Surgical Centers, Specialty Clinics, Other Applications
The global advanced orthopedic technologies, implants, and regenerative products market is expected to grow from $59.02 billion in 2022 to $63.99 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The advanced orthopedic technologies, implants, and regenerative products market is expected to reach $80.15 billion in 2027 at a CAGR of 5.8%.
The increasing incidence of orthopedic disorders is expected to propel the growth of the advanced orthopedic technologies, implants, and regenerative products market going forward. Orthopedic disorders refer to conditions that affect the musculoskeletal system, including the bones, joints, muscles, tendons, ligaments, and cartilage. The increasing number of orthopedic diseases leads to a rise in demand for advanced orthopedic technologies, implants, and regenerative products, as they are used for diagnosing, treating, and managing orthopedic disease symptoms and causes. For instance, in June 2023, according to Versus Arthritis, a UK-based charity dedicated to supporting people with arthritis, around 450,000 people in the UK have rheumatoid arthritis, 190,000 adults have psoriatic arthritis, and 10 million people have osteoarthritis, compared to 430,000 people with rheumatoid arthritis, 100,000 adults with psoriatic arthritis, and 8.5 million people with osteoarthritis in 2021, respectively. Therefore, the increasing incidence of orthopedic disorders drives the growth of the advanced orthopedic technologies, implants, and regenerative products market.
Major players in the advanced orthopedic technologies, implants, and regenerative products market are Johnson & Johnson, Medtronic PLC, Stryker Corporation, B Braun Medical Inc., Zimmer Biomet Holdings Inc., Smith & Nephew PLC, Arthrex Inc., Integra LifeSciences Holdings Corporation, Lepu Medical Technology Co Ltd., NuVasive Inc., CONMED Corporation, Globus Medical Inc., Wright Medical Group N.V., Bioventus LLC, Orthofix Medical Inc., Alphatec Holdings Inc., Acumed LLC, MiMedx Group Inc., Exactech Inc., Anika Therapeutics Inc., DJO Global Inc., Misonix Inc., Osiris Therapeutics Inc., Bacterin International Holdings Inc., Cerapedics Inc., Histogenics Corporation, Kuros Biosciences AG, Life Spine Inc., Aurora Spine Corporation, and Camber Spine Technologies LLC.
Advancements in technology are a key trend gaining popularity in the advanced orthopedic technologies, implants, and regenerative products market. Major companies operating in the advanced orthopedic technologies, implants, and regenerative products market are adopting new technologies to sustain their position in the market. For instance, in January 2023, Orthofix Medical Inc., a US-based medical device company providing spinal, orthopedic, bone growth, and motion preservation products, launched the Mariner deformity pedicle screw system. This system aims to offer a comprehensive solution that meets clinical goals and expands the Mariner family's modular platform. It combines biologics and 7-D Flash navigation with machine vision precision and segmental registration. The Mariner deformity system uses Mariner's reliable modular technology to offer a wide range of implants while minimizing the usual number of surgical trays needed for deformity surgery.
In August 2022, CONMED Corporation, a US-based medical technology company providing surgical and patient monitoring products and services, acquired Biorez Inc. for an undisclosed amount. With this acquisition, CONMED has access to advanced bio-inductive collagen scaffold technology for soft tissue recovery in sports medicine, which advances the next phase of healing in sports medicine and integrates perfectly with CONMED's current line of products. Biorez Inc. is a US-based medical device start-up involved in advancements in orthopedic technologies, implants, and regenerative effects, offering promising solutions for soft tissue healing and regeneration.
North America was the largest region in the advanced orthopedic technologies, implants, and regenerative products market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in advanced orthopedic technologies, implants, and regenerative products report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the advanced orthopedic technologies, implants, and regenerative products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The advanced orthopedic technologies, implants, and regenerative products market consists of revenues earned by entities by providing pain management, physical therapy, and spine care. The market value includes the value of related goods sold by the service provider or included within the service offering. The advanced orthopedic technologies, implants, and regenerative products market also includes of sales of internal fixation devices, external fixation devices, ankle replacement devices, and solid ankle cushion heel prostheses. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The advanced orthopedic technologies, implants, and regenerative products research report is one of a series of new reports from The Business Research Company that provides advanced orthopedic technologies, implants, and regenerative products market statistics, including advanced orthopedic technologies, implants, and regenerative products industry global market size, regional shares, competitors with an advanced orthopedic technologies, implants, and regenerative products market share, detailed advanced orthopedic technologies, implants, and regenerative products market segments, market trends and opportunities, and any further data you may need to thrive in the advanced orthopedic technologies, implants, and regenerative products industry. This advanced orthopedic technologies, implants, and regenerative products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.