Supportive healthcare policies and rise in old age population is expected to drive the global orthopedic digit implants market in the forecast period.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected several countries adversely. Leading authorities-imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Out-patient visits showed a negative curve which adversely affected the demand for orthopedic digit implants. Non emergent services were postponed which led to market decline. Post covid due to already stacked up medical cases the demand for orthopedic digit implants is expected to increase the demand for these medical devices.
However, stringent regulatory policies and lack of availability of sufficient medical coverage may create hindrance in the global orthopedic digit implants market growth.
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Global orthopedic digit implants market is segmented into type, material, end users, regional distribution, and company. Based on type, market can be divided into metacarpal joint implants, metatarsal joint implants, hemi phalangeal implants, toe intramedullary implants, and scaphoid bone implants. The metatarsal joint implants type segment is expected to dominate the market for the forecast period, 2022-2026. Increase in occurrence of arthritis among the old age population is the major driver for the next five years.
Rise in occurrence of road accidents which injure or disable a large number of people which is expected to increase the demand for orthopedic digit implants. Based on material, market can be fragmented into pyrocarbon, titanium, nitinol, and others. The titanium materials segment is expected to hold major market share for the predicted period due to better corrosive resistance properties over its counterpart. Higher biocompatibility of titanium is surging its demand in healthcare facilities.
Based on end users, market can be divided into hospitals, specialty orthopedic clinics, and others. The hospital segment is anticipated to witness growth for the next five years. Huge patient in-flow into the hospital facilities due to presence of quality diagnostic and treatment equipment and skilled healthcare professionals are the major contributing factors for the growth of the hospital segment. Supportive healthcare regulation and favourable reimbursement policies are influencing the orthopaedic digit implants market.
Johnson & Johnson, Stryker Corporation, Wright Medical Group N.V., Integra LifeSciences Corporation, Smith & Nephew Plc., Arthrex GmbH, Acumed LLC, Merete GmbH, Teijin Limited, Zimmer Biomet Holdings, Inc are the leading players operating in global orthopedic digit implants market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several orthopedic digit implants manufacturers are coming up with their technologically advanced offerings.
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“High-end investments by the major market players for research and development activities which is leading to technological advancement of orthopedic digit implants. Rapid penetration of 3D printing technology in medical field for treatment based on patient customization and needs is anticipated to contribute significantly to the rise of the orthopedic digit implants market. Rise in awareness and attractive marketing strategies adopted by market players to improve the brand image is further expected to propel the global orthopedic digit implants market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Orthopedic Digit Implants Market By Type (Metacarpal Joint Implants, Metatarsal Joint Implants, Hemi Phalangeal Implants, Toe Intramedullary Implants, Scaphoid Bone Implants) By Material (Pyrocarbon, Titanium, Nitinol, Others) By End Users (Hospitals, Specialty Orthopedic Clinics, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global orthopedic digit implants market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global orthopedic digit implants market.
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