The North America Orthopedic Implants Market would witness market growth of 6.0% CAGR during the forecast period (2022-2028).
The market is predicted to develop significantly due to increasing rates of osteoporosis and osteoarthritis, an aging population, a rise in trauma cases from auto accidents and sports injuries, and changing lifestyles. Other factors influencing the market growth include an increase in the usage of orthopedic devices, problems with poor bone density, the development of biodegradable implants and internal fixation systems, and a rise in the proportion of patients who choose orthopedic implants in their middle years.
Developers of orthopedic implants have been compelled by this need to create novel biomaterials and enhance current materials' corrosion resistance, biocompatibility, and wear resistance. Obesity and diabetes co-morbidities, in particular in the elderly population, have been increasing the risk of degenerative joint disorders. In addition, sports-related injuries are on the rise as young people participate in more significant physical activity. This has increased the demand for orthopedic implants.
Due to the rise in musculoskeletal problems and the incidence of sports-related injuries in the area, North America has the highest demand for orthopedic implants. The National Center for Injury Prevention and Control of the Centers for Disease Control and Prevention (CDC) reports that in the United States in the year 2020, there were 22,887,137 non-fatal injury visits to emergency departments. Another factor driving the rising demand for these braces and supports in the area is the region's aging population. According to the population aging estimate, there will be over 80 million individuals over 65 in Canada and the United States by 2030, up from about 60 million in 2019. This region's market is anticipated to expand over the following years.
The US market dominated the North America Orthopedic Implants Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13,824.1 Million by 2028. The Canada market is poised to grow at a CAGR of 8.4% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 7.5% during (2022 - 2028).
Based on Product, the market is segmented into Knee Implants, Spinal Implants, Craniomaxillofacial Implants, Hip Implants, Dental Implants and SET Implants. Based on End-use, the market is segmented into Hospitals, Orthopedic Clinics and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Orthopedic Implants Market is Estimated to reach $45.7 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Johnson & Johnson (DePuy Synthes), Stryker Corporation, Zimmer Biomet Holdings, Inc., Smith & Nephew PLC, ConMed Corporation, B. Braun Melsungen AG (Aesculap, Inc.), Colfax Corporation, NuVasive, Inc., and Arthrex, Inc.
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By End-use
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