Advanced Orthopedic Technologies Market to Reach $92.1 Billion, Globally, by 2033 at 4.7% CAGR: Allied Market Research

PORTLAND, OR, UNITED STATES, December 11, 2024 /EINPresswire.com/ -- Rise in prevalence of orthopedic disorders, increase in the aging population, and rise in the usage of orthopedic implants are the major factors which drive the global market growth.

Allied Market Research published a report, titled, "Advanced Orthopedic Technologies Market by Product Type (Implants and Regenerative Products), Application (Spine Surgery, Cranial and Maxillofacial Surgery, Joint Replacement Surgery and Others), End User (Hospitals, Ambulatory Surgical Centers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the advanced orthopedic technologies market was valued at $58.1 billion in 2023, and is estimated to reach $92.1 billion by 2033, growing at a CAGR of 4.7% from 2024 to 2033.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/A323959

Prime determinants of growth

Rise in prevalence of orthopedic disorders, such as osteoarthritis, osteoporosis, and sports injuries, are the major factors that drive the growth of the advanced orthopedic technologies market growth. However, the high cost associated with procedures involving orthopedic implants restricts the market growth. Moreover, growth opportunities in emerging markets and technological advancements for orthopedic devices and implants offer remunerative opportunities for the expansion of the global advanced orthopedic technologies market.

Report coverage & details

Report Coverage

Details

Forecast Period

2024–2033

Base Year

2023

Market Size in 2023

$58.1 billion

Market Size in 2033

$92.1 billion

CAGR

4.7%

No. of Pages in Report

233

Segments Covered

Product Type, Application, End User, and Region.

Drivers

Rise in prevalence of orthopedic disorders

Increase in the aging population

Rise in the usage of orthopedic implants

Opportunities

Technological advancements for orthopedic devices and implants

Growth opportunities in emerging markets

Restraint

High cost associated with procedures involving orthopedic implants

Segment Highlights

The implants segment held the highest market share in 2023.

By product type, the implants segment dominated the market share in 2023. The increasing prevalence of orthopedic conditions, advancements in implant materials, and rising demand for minimally invasive surgeries fuels the implants segment growth. In the regenerative products segment, the surge in sports injuries, advancements in tissue engineering and stem cell therapy, and the growing aging population requiring joint repair and cartilage regeneration are key driving factors.

The joint replacement surgery segment held the highest market share in 2023.

By application, the joint replacement surgery segment dominated the market share in 2023 due to rise in geriatric population and surge in incidence of conditions such as osteoarthritis. Technological advancements in implant materials, such as ceramics and advanced alloys, enhance durability and biocompatibility, improving implant longevity. Moreover, the integration of robotic-assisted surgical systems allows for greater precision and personalized treatment plans, leading to better surgical outcomes and patient satisfaction further supports the segment growth.

The hospital segment held the highest market share in 2023.

By end user, the hospital segment held a substantial portion of the advanced orthopedic technologies market share in 2023, primarily driven by the increasing adoption of advanced medical imaging technologies within healthcare settings. Hospitals favored advanced orthopedic technologies systems for their ability to provide detailed anatomical imaging and accurate diagnostics across a wide range of medical conditions. In addition, the reliability and consistency of advanced orthopedic technologies in hospital settings contributed to its popularity among healthcare providers seeking enhanced patient care and diagnostic accuracy.

Regional Outlook

North America is expected to dominate the market by 2033

North America is poised to maintain its leadership in the advanced orthopedic technologies market by 2033 owing to high healthcare infrastructure with significant investments in research and development, fostering continuous innovation in orthopedic technologies. Moreover, the rise in prevalence of orthopedic conditions, coupled with high healthcare expenditures, drives substantial market demand. In addition, favorable reimbursement policies and early adoption of advanced medical technologies further bolster market growth in this region.

Players

Arthrex, Inc. 

Johnson & Johnson

Globus Medical

Abbott

 B. Braun SE

Stryker 

 Exactech, Inc.

Zimmer Biomet

Medtronic

Corin Group 

The report provides a detailed analysis of these key players in the global advanced orthopedic technologies market. These players have adopted different strategies such as agreement, expansion, product launch, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.

Recent Developments in Advanced Orthopedic Technologies Industry

In January 2024, Arthrex, a global leader in minimally invasive surgical technology and surgical skills education launched a new patient-focused resource, TheNanoExperience.com, highlighting the science and benefits of Nano arthroscopy, a modern, least-invasive orthopedic procedure that may allow for a quick return to activity and less pain.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A323959

David Correa
Allied Market Research
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