Constant development in the implants technologies have helped the orthopedic industry to maintain a steady growth over the last decade Orthopedic implants help prevent and treat injuries or deformities of the musculoskeletal system. Number of people undergoing joint replacement surgery, such as total hip and knee replacement, has increased steadily and continues to do so, due to a rise in geriatric population. Innovation in anaesthesia techniques and the increasing adoption of minimally invasive procedures have added to the market value in recent years.
The impact of the coronavirus pandemic and the lockdown it triggered is clearly visible in across all the verticals. The orthopedic industry has also taken a hit. Manufacturers of orthopedic devices and their suppliers will face greater challenges in the coming months. The stock market has been quick to reflect the epidemic’s impact. Global market indexes and orthopedic firms’ stock prices dropped significantly during the last couple of months. Major players of the market including DePuy Synthes, Zimmer Biomet, and Stryker experienced stock price declines after COVID-19 news. the medical device manufacturers across globe are finding it difficult to source important raw materials and electronic components from Chinese factories. The exclusive COVID-19 Impact Analysis report by Axiom MRC explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the orthopedic implant market. The report studies the effect of the pandemic on the global economy by evaluating factors like GDP, healthcare expenditure, regulatory framework, business investment, key players marketing strategies, key supply and demand-side factors, epidemiological swing factors, inventory, and governmental policies & decisions.
The global orthopedic implants market is analysed based on product, biomaterial and region. Based on product, it is classified into reconstructive joint replacements (knee, hip, and extremitie) spinal implants (spinal fusion devices, non-fusion devices/motion preservation devices, and invasive spinal bone stimulators), dental implants, trauma & craniomaxillofacial, orthobiologics (allografts, bone graft substitutes, and cell-based matrices)and others.The various kinds of biomaterials such as metallic, ceramic, polymeric, and natural biomaterials are used to manufacture orthopdic implants The global Orthopedic Implant market is studied across various key countries of regions such as North America, Europe, Asia Pacific and Rest of the World. North America captured the largest market share and is expected to maintain its dominance throughout the forecast period. The presence of a well-defined regulatory framework, recommendations of government and healthcare agencies, and the current high adoption rate of minimally invasive procedures are the major factors supporting the growth of the market in North America.
The key competitors of this market include Johnson & Johnson (DePuy Synthes), Zimmer Biomet Holdings, Inc., Stryker Corporation, Medtronic Plc, and Smith and Nephew Plc., Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc., and DJO Finance LLC, and Globus Medical Inc. among other.
The repercussion of the COVID-19 necessitates a speculative future for economies and industries. Amongst continuous and constant developments, Axiom team of experts will bring to you timely updates about the Global Economic Impact of COVID-19.
Why to buy this report: