Published: Jul, 2018
The global market for orthopedic digit implants has been growing at a robust rate as the market players are investing heavily in developing better technologies. The scale of competition in the market has been escalating in recent times, and the market players are expected to go all out in outrunning their competitors. The market has witnessed the emergence of several key strategies by market players who want to ensure that their position is not compromised. The market players have also given a stellar example of cut-throat competition by leaving no stone unturned in trying to beat their competitors. There have been several efforts in the form of strategic alliances and partnerships by the medium-sized players to convert to large market players. The large-scale players in the global market or orthopedic digital implants have not only managed to establish their strongholds in the market but have also earned the trust of the consumers for the future. Hence, it has become progressively difficult for small and medium-sized market players to get a decent share of the total market share. It can be projected that the global market for orthopedic implants would undergo no substantial changes in its competitive landscape as thre larger players are set to keep attracting a larger consumer base as against the medium-sized players. Some of the key players in the global market for orthopedic digital implants are., Stryker Corporation, TEIJIN NAKASHIMA MEDICAL CO., LTD, and DePuy Orthopaedics, Inc.
The global orthopedic digit implants market is expected to expand at a CAGR of over the period between 2017 and 2026. The global market for orthopedic digital implants is also expected to accumulate revenues worth US$ 130 Mn by the end of 2026. There have been several efforts by the market handlers to increase the total net worth of the global market.
Injuries and Weaker Bones to Drive Demand
The global market for orthopedic digit implants has been expanding on account of the rising incidence of different kinds of injuries that cause damage to the bone. Sports injuries are amongst the common form of injuries that affect people and compel them to go for orthopedic impants. Furthermore, the developments in the field of orthopedics including better ways of treating bone injuries and faster healing mechanisms has also led to the grwoth of the global market for orthopedic digit implants. It has been found by several medical research centers that the bones of people have become weak and can withstand lesser strain due to the changing eating habits and lifestyles of the people. This has also created demand within the global market for orthopedic digital implants and has given an impetus to the growth of vendors.
North America to Dominate Global Market
Not only is the incidence of bone injuries in North America quite high, but the healthcare industry has also reciprocated to the needs of the masses. This has led to the growth of the market for orthopedic digital implants across North America. The geriatric population is more likely to suffer from bone injuries or weakening of bones, and hence, the growth of the aged population is also a market driver in the region.
The review is based on TMR’s report titled, “Orthopedic Digit Implants Market (Product Type - Metacarpel Joint Implants (Upper extremity), Metatarsal Joint Implants (Lower extremity), Hemi Phalangeal Implants, Scaphoid Bone Implants, and Toe Intramedullary Implants; End-User - Hospitals, and Specialty Orthopedic Clinics; Material - Nitinol, Silicon Pyrocarbon, Titanium and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2026”.
The market can be segemented as follows:
Based on Product Type
- Upper Extremity
- Lower Extremity
Based on Geography
- North America
- Asia Pacific
- The Middle East and Africa
- Latin America
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