The major orthopedic joint replacement implants market includes implants used in knee and hip replacement surgical procedures. The hip and knee orthopedic surgical implants market, and the hip and knee reconstruction market are also covered in this report. Replacements of hip and knee joints are carried out in patients suffering from chronic pain and improper functioning of hip and knee joints. These replacement surgeries relieve the pain and restore joint mobility.

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Orthopedic Implants Market

The global major orthopedic joint replacement implants market grew at a compound annual growth rate (CAGR) of about 3%. This growth can be attributed to factors such as rise in ageing population, increased prevalence of obesity and arthritis conditions, and other such factors mentioned in the report. By 2021, the CAGR of this market is expected to reach 4%.

Developing countries, including India, China, and Brazil, are expected to attract investments into their healthcare systems, thereby increasing the potential of the major ortho market. This is mainly due to continued economic growth, positive demographic trends, healthcare reforms, and government initiatives, policies inviting foreign investment, urbanization, and increasing income levels.
For instance, Indian orthopedic implant manufacturing companies such as Narang Medical Limited and Atlas Surgical are investing heavily in the research and development of surgical replacement implants to provide competition to US companies and provide affordable treatment to the large population suffering from rheumatoid arthritis.

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The increasing disposable income and growing awareness of chronic diseases such as end-stage arthritis has
led to the increased use of orthopedic implants in emerging markets. Economic growth has been significant in markets such as China and India. For instance, India recorded GDP growth in excess of 6% in 2017. This has led to higher spending on healthcare. The per capita healthcare expenditure in India rose from $62 in 2014 to $69 in 2015.

Also, globalization is expected to pave way for joint ventures, foreign investments, collaborated research and global expansion in the major orthopedic replacement implants market. Major orthopedic device companies are engaging in acquisitions, mergers, or partnerships to enhance their products and make a presence in the global market. For instance, in 2016, Stryker Corporation, one of the leading medical technologies firms, acquired British company Stanmore Implants for $41 million thereby allowing the company to work on differentiated technologies and expand their presence in the global orthopedic oncology market.
Top orthopedic device companies included in the report are Depuy Synthes, Zimmer and Biomet, Stryker, Smith & Nephew, and Aesculap.

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