Orthopedic Digit Implants Market Report (2022 to 2030) – Smith and Nephew, Stryker Corporation, BioMet, CONMED Corporation, Arthrex and Wright Medical Group N.V
Newark, New Castle, USA, Feb. 13, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Growth Plus Reports, the global *Orthopedic Digit Implants market* is expected to clock *US$ 155.85 million by 2030* and to grow at a *CAGR of 6.76%* during the forecast period. Growing demand for minimally invasive surgeries and increasing fractures incidence are driving the global orthopedic digit implants market. This exclusive information is published by Growth Plus Reports in its report titled “Orthopedic Digit Implants Market – Global Outlook & Forecast 2022-2030”
Orthopedic digit implants are medical devices that replace or reconstruct missing or damaged fingers, toes, or other parts of the hand or foot. The global orthopedic digit implants market has grown significantly in recent years, driven by technological advances, increasing awareness of orthopedic conditions, and an aging population.
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The global orthopedic digit implants market has been analyzed from four different perspectives – Product Type, Material, End User, and region
*Excerpts from ‘By Product Type Segmentation’ *
The orthopedic digit implants market may be divided into several categories by product type. Fingertip implants are one of the primary product categories. The distal phalanx, the bone at the tip of the finger, is replaced with these. They can be used to regain sensation, grip strength, and the finger's general appearance because they resemble the natural shape and function of the fingertip. The market expansion is anticipated to be driven by the metatarsal joint implants segment. Metatarsal joint implants are anticipated to have a sizable market share because of the rising prevalence of arthritis and the rising number of accidents worldwide. One of the most often performed surgeries to treat injuries is the first metatarsal-phalangeal (MTP) total joint replacement. The MTP joint, which joins the base of the great toe to the foot, uses a small, two-piece implant to replace articular cartilage that has been injured or is absent.
The World Health Organization predicts that in 2020, traffic accidents will result in the deaths of about 1.35 million people. In addition, traffic accidents result in the injuries or incapacities of 20 to 50 million persons annually. These modifications are anticipated to have a sizable effect on market expansion over the projection period.
*Excerpts from ‘By Material Segmentation’ *
The orthopedic digit implants market can be divided into several groups based on the type of material used. It is anticipated that the titanium segment will garner a sizeable market share during the projected period. This is mostly due to titanium's many beneficial characteristics, including its strong corrosion resistance, high strength, and low density. The material's non-toxic and non-magnetic characteristics are also expected to be advantageous for biological applications. The segment will grow during the forecast period due to similarities between titanium and the coefficient of thermal expansion and modulus of elasticity of the bone.
Implants made of metal are one of the main sorts of materials. These have a reputation for longevity and biocompatibility and are comprised of materials like titanium and stainless steel. Due to their durability and propensity to integrate gradually with the surrounding bone, they are frequently employed in digit implant surgery. An implant made of a polymer or plastic is another material type. These are recognized for their flexibility and biocompatibility and are comprised of materials like polyethylene. They are frequently employed in digit implant surgery because they can replicate the movement of a finger or toe. Implants composed of composite materials, which include metallic and polymer components, are a third type of material. Polyethylene materials blend the flexibility of polymer materials with the strength of metallic components. Bio-absorbable implants are additionally available and eventually become absorbed by the body, leaving just the freshly produced bone. These materials are employed when it is anticipated that the bone may eventually repair and fuse to the implant.
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*Excerpts from ‘By Region Segmentation’*
Based on the regional segmentation, the global orthopedic digit implants market is divided into:
· North America
· Europe
· Asia Pacific
· Rest of the World
The North American region is anticipated to have considerable market expansion during the projection period. The high incidence of osteoporosis, an aging population, and the rising acceptance of non-treatment-interfering surgical procedures bring on growth. Additionally, the emergence of new items and the presence of more market participants foster market expansion in the area. The aging population is anticipated to fuel the market expansion. According to data from Statistics Canada, the number of seniors is increasing annually. It stated that the population over the age of 65 accounted for almost 6,845,502 people in 2020 and 7,081,792 people in 2021. The market is anticipated to develop because of the growing geriatric population, which is more vulnerable to fractures and other chronic conditions.
Additionally, the region's adoption of digital orthopedic digitalization is anticipated to accelerate market expansion further. For instance, Ensemble Orthopedics Inc. gained 510(k) clearance from the US Food and Drug Administration in December 2020 for the incorporation of the Ensemble CMC. Ensemble CMC is intended to treat patients with osteoarthritis of the front region of the carpometacarpal joint (CMC) using a straightforward, minimally invasive surgical procedure.
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*Excerpts from ‘Competitive landscape’ *
The most significant rivals active in the global orthopedic digit implants market are listed in the competitive landscape study. Overall revenue generation, market initiatives, company overview, R&D expenditure, financials, company strengths and weaknesses, global presence, production capacity, production sites and facilities, market potential, and other factors are taken into consideration while making the comparison.
· Merete
· Stryker
· DePuy Synthes (Johnson & Johnson)
· LifeSciences Holdings
· TEIJIN NAKASHIMA MEDICAL
· Wright Medical
Are among the top competitors in the global orthopedic digit implants market. Notably, several orthopedic implant manufacturers are strongly interested in implementing strategic initiatives such as mergers, acquisitions, product developments, collaborations, and partnerships to strengthen their market position.
For instance, J&J's DePuy Synthes introduced the Inhance Shoulder System in August 2021, which includes stemmed and stemless implants and allows surgeons to switch from the stemless to the stemmed ones during the procedure if needed. A large range of cases can be handled by the integrated system while preserving various implant sizes.
*Table of Content*
1. *INTRODUCTION*
1. Market Ecosystem
2. Timeline Under Consideration
1. Historical Years – 2020
2. Base Year – 2021
3. Forecast Years – 2022 to 2030
3. Currency Used in the Report
2. *RESEARCH METHODOLOGY *
1. Research Approach
2. Data Collection Methodology
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Approach
1. Bottom Up
2. Top Down
5. Market Forecasting Model
6. Limitations and Assumptions
3. *PREMIUM INSIGHTS*
1. Current Market Trends (COVID-19 Perspective)
2. Key Players & Competitive Positioning (2021)
4. *MARKET DYNAMICS*
1. Drivers
2. Restraints/Challenges
3. Opportunities
5. *GLOBAL ORTHOPEDIC DIGIT IMPLANTS MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE*
1. Metatarsal Joint Implants
2. Metacarpal Joint Implants
3. Toe Intramedullary Digit Implants
4. Scaphoid Bone Digit Implants
5. Hemi phalangeal Digit Implants
6. *GLOBAL ORTHOPEDIC DIGIT IMPLANTS MARKET - ANALYSIS & FORECAST, BY MATERIAL *
1. Pyrocarbon
2. Titanium
3. Ninitol
4. Others
7. *GLOBAL ORTHOPEDIC DIGIT IMPLANTS MARKET - ANALYSIS & FORECAST, BY END USER *
1. Hospitals
2. Speciality Orthopedic Clinics
3. Home Care
*TOC Continued…*
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· Blanket coverage on competitive landscape
· Winning imperatives
· Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
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· Customer Base Assessment
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