The global market for Orthopedic Prosthetic Implants is projected to reach $28.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.4% over the analysis period 2023-2030, according to a report by Yahoo Finance UK [fb6eb038]. The report highlights the role of advanced materials and technologies in spearheading the growth of the market, with newer technologies finding increasing acceptance. The aging population and their vulnerability to bone and joint related diseases and disorders are driving market growth. Other factors contributing to the growth include the rising prevalence of osteoporosis, arthritis, and other orthopedic disorders, as well as a positive outlook for the healthcare industry. However, the market also faces challenges such as rising production costs and cost containment issues. Key competitors in the market include Amplitude Surgical, B. Braun Melsungen AG, Aesculap Implant Systems, LLC, ConforMIS, Inc., Corin Group PLC, DePuy Synthes Companies, DJO Global, Inc., Exactech, Inc., Extremity Medical, LLC, Integra LifeSciences Corporation, Medacta International, Smith & Nephew Plc, Stryker Corporation, Waldemar Link GmbH & Co. KG, Wright Medical Group N.V., and Zimmer Biomet Holdings, Inc. [fb6eb038].
The report also provides regional insights, with the U.S. market estimated at $5.6 billion in 2023 and China forecast to reach $6 billion by 2030. The Knee Prosthesis segment is expected to record a CAGR of 4.6% and reach $14.9 billion by the end of the analysis period. The Asia-Pacific market is forecast to reach $3.8 billion by 2030 [fb6eb038].
In other news, US-based Zeda Holdings plans to raise $200 million for its expansion in India, according to an article by The Economic Times [3bae126b]. The funds will be used to set up fully automated facilities in India for metal 3D printing of orthopedic implants. Zeda's focus in India will be on trauma and spine surgeries, which account for about $3 billion of India's $8-billion orthopedic implants market. The company's products are already approved in the US and registered in Singapore, and it expects to register them in India within 6-8 months [3bae126b].