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WASHINGTON, Aug. 22, 2023 (GLOBE NEWSWIRE) — According to Vantage Market Research, The Global Orthopedic Implants Market is projected to reach a value of USD 61.88 Billion by 2030 and is expected to exhibit a CAGR of 4.40% from 2023 to 2030. The global Orthopedic Implants Industry is valued at USD 43.85 Billion in 2022.
An Orthopedic Implant serves as a vital medical device crafted to either replace a missing joint or bone or provide support to a fractured bone. Comprising primarily of robust stainless steel and titanium alloys, these implants are reinforced for strength, while their synthetic coating emulates natural cartilage. Notably, they find extensive utility in minimally invasive surgical interventions, particularly in addressing spinal injuries and lumbar spinal stenosis.
The market for Orthopedic Implants is on an upward trajectory, fueled by a surge in orthopedic procedures. The escalating occurrence of traumas, accidents, and injuries amplifies the demand for these implants. Moreover, the escalating concerns surrounding bone density and bone-related conditions prevalent among the middle-aged population contribute to the burgeoning demand. Collectively, these factors are poised to catalyze the expansion of the orthopedic industry in the forthcoming years.
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Key Highlights:
- The market is segmented based on products, types, biomaterials, and regions. The product segment includes reconstructive joint replacements, spinal implants, dental implants, trauma products, orthobiologics, and other
- The largest segment of the orthopedic implants market in 2022 was the joint reconstruction segment, with a revenue share of 42%.
- The second largest segment of the orthopedic implants market in 2022 was the spinal implants segment, with a revenue share of 18%.
- The fastest-growing region in the orthopedic implants market…
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