According to Nova one advisor, the global Orthopedic Fracture Repairing Implants for Osteoporosis market size was valued at USD 3.18 billion in 2021 and is predicted to hit USD 6.1 billion by 2030 with a registered CAGR of 5.8% during the forecast period 2022 to 2030.
Orthopedic implants are devices that can be put or placed into the body through surgical procedures. Implants are designed such that they can provide and restore functions of the damaged part of the body. Recent trends suggest that bisphosphonates and biodegradable implants are gaining traction in the market. Increase in demand for biodegradable implants can be ascribed to their ability to provide necessary mechanical function for tissue reconstruction. Bisphosphonates help prevent or slow down the progression of osteoporosis. They can also be used in the treatment of some types of cancer that cause bone damage.
Osteoporosis is a health problem caused due to low bone mass and microarchitectural deterioration of the bone structure. It leads to bone fragility and increases the chances of bone fracture. Hence, orthopedic fracture repairing implants are used to provide support to bones during osteoporosis treatment.
Report Scope of the Orthopedic Fracture Repairing Implants for Osteoporosis Market
High Incidence of Sports-related Injuries and Surge in Geriatric Population Augmenting Market
Increase in incidence rate of injuries related to accidents, sports, and adventure; and surge in the global geriatric population are expected to propel the orthopedic fracture repairing implants for osteoporosis market size. Growth in government initiatives for the adoption of technologically advanced products is also anticipated to boost the market.
Large population in developing countries such as China, India, and Brazil suffers from several orthopedic disorders, injuries, and trauma that require advanced orthopedic products such as casting tapes, fiberglass, polyester, and metal splints. Therefore, companies domiciled in these countries are focused on development and launch of technologically-advanced casting and splinting products to attract new customers. Government initiatives in terms of reimbursement and increase in awareness about proper treatment compliance are estimated to drive the adoption of these new products. For instance, the Centers for Medicare & Medicaid Services (CMS) finalized the Comprehensive Care for Joint Replacement (CJR) model. As per the model, hospitals are accountable for the quality of care they deliver in order to benefit from the Medicare Fee-For-Service program for knee replacements. CJR’s objective is to provide financial incentives to hospitals to work with surgeons, home health agencies, skilled nursing facilities, and other providers to ensure that recipients get the coordinated care they require.
Rise in Incidence of Osteoporosis Induced Fractures among Geriatric Population
Osteoporosis is characterized by increase in bone fragility and subsequent accumulated fracture risks. The disease is common in older individuals due to decreased Bone Mineral Density (BMD) as people age. According to the World Health Organization (WHO), the elderly population is likely to reach 12 billion by 2025. Aging is associated with chronic diseases, disabilities, and cognitive decline. As the population ages, the number of osteoporotic fractures also increases substantially. Older adults with a trauma fracture are likely to have low BMD, increased bone turnover, and/or poor bone quality. Bone loss and high risk of additional fractures are observed in this population; hence, they are recommended osteoporosis treatment regardless of their BMD.
Quick Recovery and Shorter Hospital Stays to Propel Internal Fixations Segment
In terms of product, the internal fixations segment dominated the global orthopedic fracture repairing implants for osteoporosis market with more than 63% share in 2021. The trend is expected to continue during the forecast period. The segment is driven by the increase in demand for internal fixations as they enable fast recovery of patients to facilitate shorter hospital stays. Internal fixations also decrease the incidence of improper healing and healing in the incorrect position of damaged bones.
Increase in Orthopedic Fractures and Availability of Advanced Surgical Treatments Driving Hospitals Segment
Based on end-user, the global orthopedic fracture repairing implants for osteoporosis market has been divided into hospitals, ambulatory surgical centers (ASCs), clinics, and others. The hospitals segment held major share of around 41% in 2021. The trend is likely to continue during the forecast period. Growth of the segment can be ascribed to the increase in orthopedic fractures and surge in preference for hospitals for treatment and recovery. Hospitals are preferred due to the availability of advanced surgical treatments and the subsequent possibility of faster recovery.
Regional Outlook of Orthopedic Fracture Repairing Implants for Osteoporosis Market
North America accounted for the largest share of around 43% of the global market in 2021. Early adoption of innovative surgical products and implants can be ascribed to the region’s prominent share of the global market in 2021. Europe held around 23.9% share of the global market in 2021. The market in the region is likely to grow at a faster rate during the forecast period due to the rise in cases of fragility fracture.
Asia Pacific constituted a larger share of the global market in 2021 than Latin America and Middle East & Africa. However, the market in Latin America is anticipated to grow at a faster rate than that in Middle East & Africa.
Key Developments in Global Orthopedic Fracture Repairing Implants for Osteoporosis Market
- In February 2022, Smith & Nephew expanded indication of its CORI surgical system, a handheld robotic surgery solution used for total knee arthroplasty, to include total hip arthroplasty
- In 2021, Stryker Corporation officially introduced the Tornier shoulder arthroplasty portfolio and launched its first new Tornier product, the Perform Humeral Stem
Some of the prominent players in the Orthopedic Fracture Repairing Implants for Osteoporosis Market include:
- Stryker Corporation
- Zimmer Biomet
- Smith & Nephew plc
- DePuy Synthes (Johnson & Johnson Services, Inc.)
- Medicalplastic s.r.l.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Orthopedic Fracture Repairing Implants for Osteoporosis market
- Product
- External Fixations
- Ilizarov Apparatus
- Taylor Spatial Frame
- Others
- Internal Fixations
- Intramedullary (IM) Nails
- Bone Plates & Screws
- Biological Bone Graft Substitutes
- Synthetic Bone Graft Substitutes
- Others
- End-user
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Clinics
- Others
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Orthopedic Fracture Repairing Implants for Osteoporosis industry analysis from 2022 to 2030 to identify the prevailing Orthopedic Fracture Repairing Implants for Osteoporosis industry opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global Orthopedic Fracture Repairing Implants for Osteoporosis industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global Orthopedic Fracture Repairing Implants for Osteoporosis industry trends, key players, market segments, application areas, and market growth strategies.
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