Global Orthopedic Digit Implants Market Insights Forecasts to 2032

• The Orthopedic Digit Implants Market was valued at USD 9.8 Billion in 2021.
• The market is growing at a CAGR of 5.6% from 2022 to 2032
• The global Orthopedic Digit Implants Market is expected to reach USD 16.7 billion by 2032
• Asia Pacific is expected to grow the fastest during the forecast period

The Global Orthopedic Digit Implants Market is expected to reach USD 16.7 billion by 2032, at a CAGR of 16.7% during the forecast period 2022 to 2032.

A medical device known as an orthopaedic digit implant is docile, made of biocompatible materials like titanium or stainless steel, and it includes a plastic coating that functions as synthetic cartilage. These implants are used to replace missing or damaged bones in minor joint segments, such as the knee, ankles, toes, elbows, and fingers. Increased occurrences of orthopaedic illnesses and an increase in the world's senior population are the primary drivers of the orthopaedic digit implants market. The types of orthopaedic digit implants that are offered on the market include intramedullary toe implants, Hemi phalangeal implants, metacarpal joint implants, and scaphoid bone implants.

Impact of COVID 19 On Global Orthopedic Digit Implants Market

The coronavirus pandemic has significantly impacted the global orthopedic digit implants market. For instance, as per an article published by PubMed in August 2021, a study was conducted in Chile which has resulted into the decline in the number of orthopedic surgeries over the period of pandemic. Due to the decline in the number of orthopedic surgeries, the digital bone implant surgeries are anticipated to be performed at a normal pace across the world which has resulted into the stable growth. Apart from this the pandemic has introduced lots of alterations in the industry which include increasing shift towards web based platforms as well as an escalated commitment in the surgery practices. In fact various hospital settings have witnessed an increasing resource allocation to meet the rising demand and adoption of COVID 19 based safety measures. The market is also witnessing great efforts to support orthopedic surgeons  along with various practice models to meet the increasing demand for trained healthcare professionals.

Key Market Drivers

The rise in the number of elderly people across the world as well as the increasing prevalence of arthritis are the main reasons behind the growth of orthopedic digit implants market. Moreover, rising awareness related to the less intrusive technology as well as the advent of 3D printing technology has drastically changed the use of orthopedic technology. As per the data presented by NCBI, in May 2022, it is expected that osteoarthritis is likely to affect 3.3% to 3.6% of people across the world and it is going to cause moderate to severe disability  in around 43 million people. This makes it the 11^th most debilitating disease globally. In addition, the article also mentioned that in the U.S., it is expected that around 80% of people who are more than 65 years of age has radiographic evidence of osteoarthritis among which 60% of them has subset symptoms. The increase in the cases of arthritis and rising burden of arthritis conditions among aged people are anticipated to drive the market.

Moreover, as per the World Population Prospects 2022 published by the UN in the year 2022 it is expected that the share of global population aged 65 years or more is anticipated to increase from 10% in 2022 to 16% in 2050. Additionally, it is predicted that by 2050, there will be roughly the same number of children under the age of 12 and more than twice as many people in the world who are 65 or older. An individual's bones weaken with age, increasing his vulnerability to fractures. As a result, the world's population is getting older, which is predicted to boost market growth in the future.

Key Market Challenges

The longer recovery time as potential complications related to Orthopaedic digit implant surgery is at the major rest training factors which affect the revenue growth of the market. Joint replacement surgery is are for digits which can be complex and at the same time these procedures need a longer time to recover. This will make the surgery less appealing to some patients specifically for those who are elderly people or have any sort of health issues. Not only this but also the risk of complications associated with this procedure like bleeding,  infection,  as well as nerve damage may decrease the demand of the  Global Orthopaedic digit implants market. Furthermore, increasing costs related to digit implant surgery  will make the patient hesitate to go for this procedure.

Market Segmentation

Product Insights

Metatarsal joint implants segment is anticipated to dominate the market over the forecast period

On the basis of product, the global orthopedic digit implants market is segmented into metatarsal joint implants, metacarpal joint implants, toe intramedullary digit implants, scaphoid bone digit implants, and hemi phalangeal digit implants. Among these, metatarsal joint implants segment is estimated to dominate the market with the largest market share over the forecast period.  Metatarsal joint implants are basically a type of orthopedic implant which is used in order to treat conditions which affect metatarsal joints in foot that are located between bones in toes and midfoot. These conditions can affect these joints which are osteoarthritis, trauma, and rheumatoid arthritis.

Intramedullary digit implants, on the other hand is witnessing the fastest market growth over the forecast period. The current invention offers intramedullary implants, systems, and techniques of implantation within bone systems. The implant consists of a body with at least two beams placed in relation to the body's longitudinal axis. Each beam has an end and is attached to the body. The other pair of beams and the first pair's end are removable linked.

Material Insights

Titanium segment holds the largest market share over the forecast period

On the basis of material, the global orthopedic digit implants market is segmented into pyrocarbon, nitinol, titanium, and others. Among these, titanium segment is dominating the market with the largest market share over the forecast period. Titanium implants are a kind of orthopaedic implant which is made of titanium allow that has a combination of titanium and other metals like vanadium and aluminium. The main reason behind the demand of Titanium implant is due to their durability,  bio compatibility,  and capacity to handle high loads which has a longer life span and are able to face wear and tear. Not only this but also Titanium implants are very popular in the market and a widely used at the time of Orthopaedic surgeries which has a proven track record of success.

The pyrocarbon segment, on the other hand is anticipated to witness the fastest market growth over the forecast period. The growth is attributed to the due to their long term endurance and biocompatibility. Moreover, the pyrocarbon is used the production of hard tissue replacement material as it has a similar mechanical strength like bone and low wear rate.

Regional Insights

North America is dominating the market with the largest market share over the forecast period

North America is dominating the market with the largest market share over the forecast period. Growth is brought on by factors such as the high frequency of osteoarthritis, the ageing population, and the rising demand for minimally invasive surgical techniques. Additionally, the emergence of new items and the presence of more market participants foster market expansion in the area.

Asia Pacific, on the other hand is anticipated to witness the fastest market growth over the forecast period. The growth is attributed to the increasing elderly population and the rise in the number of hand injuries and increasing awareness about the benefits and availability of these implants. Moreover, increasing disposable income as well as health care expenditure in India and China are also anticipated to drive the market growth in the Asia Pacific region.

Recent Market Developments

• In February 2022, DePuy Synthes which is a division of Johnson & Johnson has made an announcement to acquire CrossRoads Extremity Systems.
• In November 2020, Stryker has acquired Wright Medical Group N.V. which has strengthened global market position in extremities and trauma that allow them to launch new products in the market.

List of Key Companies

• Johnson and Johnson Services, Inc. (DePuy Synthes)
• Smith and Nephew
• Stryker Corporation
• Integra Lifesciences
• Acumed LLC.
• Wright Medical Group N.V. (NASDAQ: WMGI)
• Teijin Nakashima Medical Co., Ltd.
• Merete Medical GmbH
• Zimmer Biomet Holdings, Inc.
• VILEX IN TENNESSEE, INC.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Orthopedic Digit Implants Market based on the below-mentioned segments:

Orthopedic Digit Implants Market, Product Analysis

• Optical Coherence Tomography
• Ophthalmic Ultrasound

Orthopedic Digit Implants Market, Application Analysis

• Cataract
• Vitreo Retinal Disorders
• Glaucoma
• Refractor Disorders

Orthopedic Digit Implants Market, End User Analysis

• Hospitals and Eye Clinics
• Academic and Research Laboratory
• Others

Orthopedic Digit Implants Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa