The Growing Orthopaedic Digit Implants Market In-Depth Analysis 2023 - Magzinenow

The Growing Orthopaedic Digit Implants Market In-Depth Analysis 2023


Strategic Market research

An orthopedic digit implant is a surgically inserted device into the hand’s bones to enhance the hand’s appearance and functionality. The implant, often comprised of metal, is inserted into the hand’s bones through a skin incision. The implant aids in supporting and maintaining the alignment of the hand’s bones. Giving the tendons something to glide over, it also aids in improving the hand’s functionality.

The market worth of orthopedic digit implants in 2021 was USD 86.02 million, and it will be worth USD 167.53 million by 2030, growing at a 6.65% CAGR during the forecast period.

According to WHO, symptomatic osteoarthritis affects 9.6% of men and 18.0% of women over 60 worldwide. The illness impacted more than 31 million people in the US.

An increase in rheumatoid arthritis prevalence, an increase in the elderly population, an increase in the demand for affordable orthopedic treatment options, and an increase in the number of people choosing minimally invasive orthopedic procedures are all factors driving the growth of the orthopedic digit implants market.

Market Dynamics

Drivers

The rising rate of rheumatoid arthritis has led to increasing demand for orthopedic operations. The senior cohort is leading increasingly active lifestyles around the world, especially in developed regions, as a result of rising health awareness, which has increased stress and joint injuries. These elements have driven demand for a range of orthopedic implants, including digit implants. Orthopedic digit implants are frequently used in fields like traumatology and oncology. In the near future, there may be prospects for market expansion due to the rising desire for less invasive procedures to treat orthopedic illnesses and the increased adoption of 3D printing technology in this field.

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Restraints

There is always a chance that orthopedic implants won’t be biocompatible, leading to rejection by the body. Infection and pain in the surrounding tissue could develop from the implants rupturing the bone. All of these reasons significantly hamper the growth of the market.

Opportunities

Orthopedic implants can be printed using 3D printing technology. As a result, the government is investing a sizable amount of money in advancing these technologies, which will undoubtedly open up a ton of new options for the industry.

Moreover, the orthopedic digit implants market will see significant growth prospects in the future thanks to the growing emphasis on robotic procedures, the development of bioresorbable implants, and the introduction of internal fixation devices.

Market Segmentation

By 2028, the metatarsal joint implant category will have a significant market share based on type. These treatments are highly sought after for hallux rigidus, often known as a stiff big toe. Metatarsal joint implants use a two-piece, tiny implant to replace missing or damaged articular cartilage in the MTP joint, where the base of the great toe meets the foot. Higher demand for bone mobility restoration implants will drive market expansion in the coming years.

By material, the titanium sector will have a sizable market share. This is mostly due to titanium’s many beneficial characteristics, including its strong corrosion resistance, high strength, and low density. The material’s non-toxic and non-magnetic characteristics are also expected to be advantageous for biological applications. The segment will grow due to similaritiesCbetween titanium and human bone’s coefficient of thermal expansion and modulus of elasticity.

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Regional Insights

The market in North America will increase significantly. Increases in the older population, the high frequency of orthopedic conditions, and the use of minimally invasive surgical procedures in therapy are all factors in the increase. As the population ages, more orthopedic digit implants are anticipated to be performed. 2019 population statistics for Canada show that 6.5 million people, or 17% of the total population, are over 65.

Key Players 

  • Teijin Nakashima Medical Co., Ltd.
  • Smith and Nephew
  • VILEX IN TENNESSEE, INC.
  • Johnson and Johnson Services 
  • Wright Medical Group N.V
  • Stryker Corporation
  • Merete Medical GmbH  
  • Integra Lifesciences
  • Acumed LLC.
  • Zimmer Biomet Holdings, Inc.
  • Signature Orthopedic Implants

The market worth of orthopedic digit implants in 2021 was USD 86.02 million, and it will be worth USD 167.53 million by 2030, growing at a 6.65% CAGR during the forecast period. The aging population, an increase in surgeries, growing public awareness, and growth disorders such as rheumatoid arthritis, congenital disabilities, amputations, or other limb loss are major factors driving this market’s expansion.


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