Personalized Orthopedic Implant Market: Introduction
- Orthopedic implant is a medical device used to replace missing joint and bone as well as to support a damaged bone. It is manufactured by using biomaterials and is coated by plastics.
- Technological advancements and increase in demand for patient-specific implants are expected to drive the global personalized orthopedic implant market. For instance, 3D imaging, modelling, and digital manufacturing play an important role in the expansion of the global personalized orthopedic implants market. Additionally, increase in adoption rate of implants to minimize failure, and specialized digital manufacturing technologies are other drivers that are expected to drive the global personalized orthopedics implant market.
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Key Drivers of Global Personalized Orthopedic Implant Market
- Global personalized orthopedic implants market is likely to grow rapidly during the forecast period. This can be ascribed to the increase in research and development activities and customization of implants.
- Rapidly growing global geriatric population and increase in prevalence of orthopedic disorders, such as hip pain, knee pain, low bone density, disc diseases, and osteoarthritis, are some of the factors that are estimated to fuel the growth of the global personalized orthopedic implants market during the forecast period. Based on the United Nations Report 2017, population aged 60 years and above is expected to double by 2050. The number is anticipated to increase from 962 million in 2017 to 2.1 billion by 2050. For instance, approximately 15% of China’s population was aged over 60 years in 2015, which is likely to increase to 36.5% by 2050.
- Rise in sport related accidents, mainly bone injuries is also projected to propel the global personalized orthopedic implants market in the near future
North America to Hold Major Share of Global Personalized Orthopedic Implant Market
- North America dominates the personalized orthopedic implant market due to technological advancements and high adoption rate of medical devices/products.
- Asia Pacific is expected to be a lucrative market for personalized orthopedic implants in the near future due to developing medical infrastructure, rise in acceptance of technologically advanced surgical procedures, and increase in government initiatives
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Key Players Operating in Global Market
The global personalized orthopedic implant market is highly fragmented with major manufacturers adopting various strategies to gain maximum market share. Some companies have their presence in this market, as they have products available in different countries, while some of them have their products in the pipeline.
Some of the key players operating in the global personalized orthopedic implant market are:
- Stryker Corporation
- Smith & Nephew Plc.
- Zimmer Biomet Holdings, Inc.
- DePuy Synthes
- Medtronic Plc.
- Wright Medical Group N.V.
- Japan MDM, Inc.
- NuVasive, Seikagaku Corporation
- KYOCERA Corporation.
Global Personalized Orthopedic Implant Market: Research Scope
Global Personalized Orthopedic Implant Market, by Implant Type
- Cranial/Facial Implant
- Spinal Implant
- Hip Implant
- Knee Implant
- Extremities Implant
Global Personalized Orthopedic Implant Market, by Material Type
Global Personalized Orthopedic Implant Market, by End-user
- Orthopedic Clinics
- Ambulatory Surgical Centers
Global Personalized Orthopedic Implant Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.