North America to dominate the Global Orthopedic Digit Implants Market till 2026
Supportive healthcare policies and rise
in old age population is expected to drive the global orthopedic digit implants
market in the forecast period.
According to TechSci Research report, “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”, The global orthopedic digit implants
market is expected to witness steady growth for the upcoming five years. Orthopedic
digit implants are medical devices which are used to replace injured or damaged
small bone, joints comprising of elbow, ankle, knee, among others. Orthopedic
digit implants function as artificial bones and are generally made up of
biocompatible materials such as titanium or stainless steel. Orthopedic
disorders include knee disorders, osteoarthritis, rheumatoid arthritis, among
others are some of the medical conditions requiring the support of orthopedic
digit implants. Rise in the number of accidents and injuries due to sports and
athletics activities may accelerate the demand for orthopedic digit implants
market.
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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