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Orthopedic Digit Implants Market - By Product Type (Metacarpal & Metatarsal Joint, Hemi Phalangeal, Scaphoid Bone, & Toe Intramedullary), Material (Titanium, Nitinol, Silicon Pyrocarbon), End-use (Hospital, Clinic) – Global Forecast, 2023 – 2032
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Orthopedic Digit Implants Market
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Premium Report Details
Base Year: 2022
Companies covered: 10
Tables & Figures: 217
Countries covered: 22
Pages: 160
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Orthopedic Digit Implants Market Size
Orthopedic Digit Implants Market size was valued at around USD 387.2 million in 2022 and is estimated to grow at over 6.2% CAGR between 2023 and 2032. The increasing prevalence of orthopedic diseases, surging preference for minimally invasive surgeries, and technological advancements in orthopedic digit implants are some of the key factors driving the market growth.
The rising incidence of orthopedic diseases, such as osteoarthritis, rheumatoid arthritis, and traumatic injuries, has spurred an increased demand. These health conditions often require the use of orthopedic digit implants to provide support, stability, and assistance in managing functional limitations associated with various orthopedic conditions. According to the World Health Organization, in 2019, approximately 528 million people worldwide were living with osteoarthritis, marking a 113% increase since 1990.
The significant and escalating number of individuals living with various orthopedic conditions, resulting in functional limitations, is attributed to rapid population growth and an increase in the aging population. Consequently, the substantial disease burden and the high prevalence of related disorders are expected to propel the growth of the market in the near future.
Orthopedic digit implants refer to specialized orthopedic devices or prosthetics component designed to address various orthopedic conditions affecting the fingers and toes. These implants are specifically crafted to provide support, stability, and functional assistance to individuals experiencing musculoskeletal discomfort, deformities, or limitations in their digital joints.
The post-surgery complications related to orthopedic digit implant procedures may impact both patient outcomes and market dynamics. Complications such as infections, implant rejection, malalignment, limited range of motion, and issues related to implant durability can hinder the intended benefits of these innovative solutions designed to enhance digit functionality post-amputation.
COVID-19 Impact
The emergence of the COVID-19 pandemic marked an unparalleled occurrence that significantly affected public health, resulting in a sharp increase in hospitalizations. The pandemic had adverse effects on the healthcare system, necessitating the widespread reassignment of healthcare personnel. Consequently, this resulted in the postponement of diagnosis and treatment of orthopedic disorders and other related conditions as these procedures require close contact with the patients that may increase the risk of infection to practitioners and other patients. As a result, the market experienced a decline in growth throughout 2020.
Orthopedic Digit Implants Market Trends
Rising advancements in orthopedic digit implants intended to improve the functionality, durability, and overall performance to better meet the needs of individuals who have undergone digit amputations will spur the business growth.
Orthopedic Digit Implants Market Analysis
Based on product type, the market is segmented into metatarsal joint implants, metacarpal joint implants, hemi phalangeal implants, scaphoid bone implants, and toe intramedullary implants. The metatarsal joint implants segment was valued at around USD 387.2 million in 2022 and is expected to exhibit a robust growth trend throughout the analysis period.
Based on material, the orthopedic digit implants market is segmented as titanium, nitinol, silicon pyrocarbon, and others. The titanium segment held the largest revenue share in 2022 and was valued at USD 159.8 million and is projected to expand at a CAGR of 6.2% during the forecast period to reach a market value of USD 288.5 million by 2032.
Based on end-use, the orthopedic digit implants market is segmented into hospitals and orthopedic clinics. The hospitals segment held a significant share in 2022 and is projected to reach more than USD 490.3 million by 2032.
The U.S. dominated the North America orthopedic digit implants market with a significant market share in 2022 and is anticipated to expand at a notable pace to reach more than USD 285 million by 2032.
Orthopedic Digit Implants Market Share
The orthopedic digit implants industry is consolidated in nature, with companies competing to offer superior orthopedic digit implants in this business space. Prominent players such as Smith & Nephew, Stryker Corporation, and Johnson & Johnson hold a significant share in this market. These companies are diligently directing their efforts towards continuous type innovation to gain substantial market share.
Orthopedic Digit Implants Market Companies
Some of the eminent market participants operating in the orthopedic digit implants industry include:
Orthopedic Digit Implants Industry News:
Orthopedic digit implants market research report includes an in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD (million) from 2018 to 2032 for the following segments:
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By Product Type, 2018 - 2032 (USD Million)
By Material, 2018 - 2032 (USD Million)
By end-use, 2018 - 2032 (USD Million)
The above information is provided for the following regions and countries: