Orthopedic Digit Implants Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

The market is segmented by Product Type (Metatarsal Joint Implants, Metacarpal Joint Implants, Toe Intramedullary Digit Implants, Scaphoid Bone Digit Implants, and Hemi phalangeal Digit Implants), Material (Pyrocarbon, Titanium, Ninitol, and Other Materials), End User (Hospitals and Specialty Orthopedic Clinics), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.

Market Snapshot

Orthopedic Digit Implants Market Overview
Study Period: 2018- 2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: Asia Pacific
CAGR: 7 %

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Market Overview

The orthopedic digit implants market is expected to register a CAGR of 7% over the forecast period.

The COVID-19 pandemic is expected to have a slightly negative impact on the market. As per The Commonwealth Fund, it was estimated that there was a nearly 60% initial decrease in overall outpatient visits by May 2020 due to COVID-19. This was expected to negatively affect demand for orthopedic sessions as they are usually conducted in outpatient departments. The outbreak of COVID-19 impacted the market, as hospital and healthcare services were significantly reduced due to social distancing measures taken by governments across the world. Moreover, the COVID-19 pandemic affected the global economy and showed a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals across the globe. As many hospitals and clinics remain closed due to lockdowns, the demand for orthopedic digit implants is expected to be subdued in the short term. According to a study published in the British Journal of Surgery, in May 2020, based on 12 weeks of peak disruption to hospital services due to COVID-19, around 28.4 million elective surgeries worldwide will be canceled or postponed in 2020. More than 580,000 planned surgeries in India might be canceled or delayed due to the COVID-19 pandemic, according to a study conducted by an international consortium in May 2020.

With the postponement of these non-emergent services, the demand for the same fell, including orthopedic implants. However, post the COVID-19 pandemic, the piled-up services would be addressed, increasing the demand for these digit implants.

The increase in the global geriatric population and the growing prevalence of orthopedic diseases are the primary driving factors for the orthopedic digit implants market. Furthermore, rising awareness about minimally invasive technologies and the advent of 3D printing technologies has changed the way orthopedic implant technologies are used. This is projected to positively impact market growth over the forecast period. According to the World Health Organization (WHO), by 2050, people suffering from osteoarthritis are projected to increase to 130 million across the globe. The growing prevalence of arthritis and the growing burden of orthopedic conditions are expected to boost the market growth. Aging is the major factor that is driving the market growth for the treatment. According to the data from World Population Prospects: The 2019 Revision, the number of older people, those aged 60 years or above, is expected to more than double by 2050 and more than triple by 2100, globally, rising from 962 million in 2017 to 2.1 billion in 2050 and 3.1 billion in 2100. Globally, the population group aged 60 years or over is registering faster growth rates than all younger age groups.

Similarly, according to the United nations department of Economics and Social 2019 report, by 2050, one in six people worldwide will be over age 65 years old (16%), up from 1 in 11 in the year 2019 (9%). By 2050, 1 in 4 persons living in Europe and Northern America could be aged 65 or over. In 2018, for the first time in history, persons aged 65 or above outnumbered children under five years of age globally. The number of persons aged 80 years and above is projected to be the triple, from 143 million in 2019 to approximately 426 million in 2050.​

According to the same report, the population aged 65 years or over almost doubled from 6% in 1990 to 11% in 2019 in Eastern and South East Asia, and from 5% in 1990 to 9% in 2019 in Latin America the Caribbean. It is estimated that the percentage of the older population is projected to double in four regions, i.e., Central and Southern Asia, Northern Africa and Western Asia, Eastern and South-Eastern Asia, and Latin America and the Caribbean. ​

With the rising aging population worldwide, there may be an increase in the number of people suffering from orthopedic issues requiring implants. As the person gets older, the bones become increasingly fragile, making them riskier for fractures. Therefore, all the aforementioned statistics indicate that the global population is aging rapidly, promoting the growth of the market studied in the future.

However, limited medical insurance coverage and stringent regulatory policies are expected to hamper the market growth over the forecast period.

Scope of the Report

Orthopedic digit implants are the medical devices used to replace damaged or injured small bone or join segments such as toe, elbow, ankle, knee, and others. Orthopedic digits are biocompatible made up of titanium or stainless steel, and they function as artificial bones.

The market is segmented by product type (metatarsal joint implants, metacarpal joint implants, toe intramedullary digit implants, scaphoid bone digit implants, and hemi phalangeal digit implants), material (pyrocarbon, titanium, ninitol, and other materials), end user (hospitals and specialty orthopedic clinics), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above-mentioned segments.

By Product Type
Meta Tarsal Joint Implants
Meta Carpal Joint Impnats
Toe Intramedullary Digit Implants
Scophoid Bone Digit Implants
Hemiphalangeal Digit Implants
By Material
Pyrocarbon
Titanium
Ninitol
Other Materials
By End User
Hospitals
Speciality Orthopedic Clinics
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Meta Tarsal Joint Implants Segment is Expected to Hold a Significant Share

Metatarsal joint implants are anticipated to have a significant market share due to the increase in arthritis and the growing number of accidents worldwide. One of the most common procedures to treat injuries is the first metatarsal-phalangeal (MTP) total joint replacement procedure. The technique involves a small, two-piece implant to cover a damaged or missing articular cartilage in the MTP joint, where the base of the great toe meets the foot. The implant can restore mobility to the joint bones and allow them to glide smoothly against each other. This procedure is commonly used to treat stiff big toe.

According to the World Health Organization, in 2020, nearly 1.35 million people die due to road accidents every year. In addition, 20 to 50 million people are injured or disabled each year due to road accidents. These developments are expected to have a notable contribution to market growth over the forecast period.

Furthermore, advancements in product technologies and the increasing burden of orthopedic disorders worldwide are projected to positively impact the overall market growth.

Global

North America Projected to Grow at Significant Rate Over the Forecasted Period

The North American region is expected to have significant market growth over the forecast period. The growth is attributed to the high prevalence rate of orthopedic disorders, increase in the geriatric population, and growing adaptation of minimally invasive surgical procedures in treatment. In addition, the presence of many market players and innovative product launches are fueling the market growth in the region.

Due to the increasing aging population, there is likely to be an increase in the number of orthopedic digit implants being performed. According to the 2019 Canadian population data, 17% of the Canadian population, i.e., 6.5 million, are older than 65 years. The slower population growth rate, coupled with the increasing life expectancy, are the major reasons for the increase in the country's geriatric population, which is expected to boost the market growth positively.

Orthopedic Digit Implants Market Growth by Region

Competitive Landscape

The orthopedic digit implants market is moderately fragmented, with a few major market players. Market players are focusing on geographic expansions, new product launches, and the development of new products. The key market players include Johnson & Johnson (DePuy Synthes), Smith & Nephew, Stryker Corporation, Integra Lifesciences, and Acumed LLC.

Recent Developments

In August 2021, the Orthopedic Implant Company launched wrist fracture plating technology, called the DRPx System with an enhanced ergonomic design to meet the technique preferences of orthopedic surgeons.

In August 2021, Exactech launched a new implant for a joint replacement system, called Truliant Total Knee System which features a new porous-coated implant.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Geriatric Population and Rising Prevalence of Orthopedic Diseases

      2. 4.2.2 Increasing Preference of Minimally Invasive Surgeries and Advanced Products

    3. 4.3 Market Restraints

      1. 4.3.1 Stringent Regulatory Procedures

      2. 4.3.2 Post Surgery Infections and low Adaptation of Implants

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Meta Tarsal Joint Implants

      2. 5.1.2 Meta Carpal Joint Impnats

      3. 5.1.3 Toe Intramedullary Digit Implants

      4. 5.1.4 Scophoid Bone Digit Implants

      5. 5.1.5 Hemiphalangeal Digit Implants

    2. 5.2 By Material

      1. 5.2.1 Pyrocarbon

      2. 5.2.2 Titanium

      3. 5.2.3 Ninitol

      4. 5.2.4 Other Materials

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Speciality Orthopedic Clinics

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Smith & Nephew

      2. 6.1.2 Johnson & Johnson

      3. 6.1.3 Stryker Corporation

      4. 6.1.4 Arthrex GmbH

      5. 6.1.5 Integra Lifesciences

      6. 6.1.6 Vilex In Tennessee Inc.

      7. 6.1.7 Merete GmbH

      8. 6.1.8 Acumed LLC

      9. 6.1.9 Teijin Limited

      10. 6.1.10 Arthrosurface

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Orthopedic Digit Implants Market market is studied from 2018 - 2026.

The Orthopedic Digit Implants Market is growing at a CAGR of 7% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Johnson & Johnson, Stryker Corporation, Acumed LLC, Integra Lifesciences, Smith & Nephew are the major companies operating in Orthopedic Digit Implants Market.

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