Orthopedic Fracture Repairing Implants are devices manufactured to repair or support a fractured bone. The implants are mainly formulated using titanium alloys and stainless steel coated by plastic. New types of internal fixation devices and biodegradable implants will surge the opportunities for orthopedic fracture repairing implants market. About 80% of people over the age of 65+ in the United States are suffering from osteoarthritis. These numbers indicate anticipated robust growth in the orthopedic fracture repairing implants market. According to an article from USA today in 2013, around 1.35 Mn children faced a sports related injury, severe enough to send them to emergency room. Such numbers indicate the anticipated growth in orthopedic fracture repairing implants market. According to a WHO report, in 2000, the average age of the world population was 37.3, which is forecasted to be around 45 years by 2050.Such factors are anticipated to increase the market growth for orthopedic fracture repairing implants market.
Orthopedic Fracture Repairing Implants Market: Drivers and Restraints
Rising geriatric population, increased adoption of advanced technologies, surge in prevalence of osteoporosis and increased number of accidents are key drivers for orthopedic fracture repairing implants market. Lifestyle changes such as lack of exercise, early burnout, and increased prevalence of obesity in global population are attributing to weakening of bones, fuelling orthopedic fracture repairing implants market growth. However, global regulatory and reimbursement limitations, healthcare professionals choosing locally manufactured implants over international brands are few major restraints for orthopedic fracture repairing implants market. Also, lengthy FDA approval procedures for approval is another restrain for the orthopedic fracture repairing implants market.
Orthopedic Fracture Repairing Implants Market: Overview
Orthopedic fracture repairing implants market is emerging owing to promising discovery of new innovative products. Key players in market are focusing on new technologies such as biodegradable implants and internal fixation devices. Also surge in the bone related disorders anticipates the robust growth in orthopedic fracture repairing implants market. Osteoporosis Australia states that, around 4.7 Mn Australians over 50 have poor bone health or osteoporosis. Also, according to 2013 data, in every 3.6 minutes 1 fracture takes place in Australia which is which is indicator of high growth of orthopedic fracture repairing implants market over the forecast period.
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Orthopedic Fracture Repairing Implants Market: Region-wise Outlook
Geographically, Orthopedic Fracture Repairing Implants market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. North America and Europe regions are expected to cause maximum market revenue share in Orthopedic Fracture Repairing Implants market over the forecast period due to availability of advanced healthcare infrastructure and presence of major players in the regions which are expected to hike the demand for Orthopedic Fracture Repairing Implants during the forecast period in the mentioned region. Asia Pacific region as well, is anticipated to witness crucial growth due to growing healthcare infrastructure in the region. Increasing number of hospitals are identified to be a key driver to the APEJ market growth.
Orthopedic Fracture Repairing Implants Market: Key Players
The players leading in Orthopedic Fracture Repairing Implants market include Stryker Corporation, Medtronic plc, Zimmer Biomet Holdings, Inc., The Orthopaedic Implant Company, DePuy Synthes, Conmed Corporation, BIOTEK, Smith and Nephew plc.,Wright Medical Group N.V., Aesculap Implant Systems, and Conmed Corporation. BioTek Instruments, Inc.