Orthopedic Digit Implants Market Size, Share, Industry Trends and Forecast to 2030

Orthopedic Digit Implants Market Size & CAGR in 2021

The global orthopedic digit implants market is projected to have a Compound Annual Growth Rate (CAGR) of 4.5% in 2021. The market size is estimated to reach USD 1.8 billion by the end of the year. The increasing prevalence of orthopedic conditions and the rise in aging population contributing to the growth of the market.

COVID-19 Impact on the Orthopedic Digit Implants Market

The orthopedic digit implants market experienced a significant impact due to the COVID-19 pandemic. The lockdown restrictions and disruption in the supply chain led to a temporary slowdown in the market growth. However, the market has shown resilience and is expected to recover steadily as healthcare services resume.

Orthopedic Digit Implants Dynamics

The orthopedic digit implants market is driven by the increasing incidence of sports injuries, road accidents, and age-related orthopedic disorders. Technological advancements in orthopedic surgeries and the rising demand for minimally invasive procedures are also fueling market growth. However, the high cost of implants and limited reimbursement policies may hinder market expansion.

Segments and Related Analysis

By Implant Type:

- Finger Joint Implants

- Thumb Joint Implants

- Toe Joint Implants

By Material:

- Metal Implants

- Ceramic Implants

- Polymer Implants

By Region Analysis

- North America: North America dominates the orthopedic digit implants market due to technological advancements and the presence of major market players in the region.

- Europe: Europe is expected to witness significant growth in the market owing to the increasing geriatric population and rising healthcare expenditure.

- Asia Pacific: The market in Asia Pacific is projected to expand rapidly due to the growing awareness about orthopedic treatments and improving healthcare infrastructure.

- Latin America: Latin America is anticipated to show steady growth in the market as the region focuses on enhancing healthcare facilities.

- Middle East and Africa: The orthopedic digit implants market in Middle East and Africa is poised to grow with the rising prevalence of orthopedic conditions and increasing investments in healthcare.

Key Market Players and Competitive Landscape

- Stryker Corporation

- Johnson & Johnson

- Zimmer Biomet Holdings, Inc.

- Smith & Nephew plc

- Medtronic plc

Recent Happenings in the Orthopedic Digit Implants Market

- In June 2021, Stryker Corporation launched a new line of finger joint implants with enhanced durability and range of motion.

- Johnson & Johnson announced a partnership with a leading orthopedic research institute to develop innovative toe joint implants in August 2021.

- Zimmer Biomet Holdings, Inc. introduced a cutting-edge thumb joint implant technology in collaboration with a renowned orthopedic surgeon in September 2021.

- Medtronic plc acquired a startup specializing in polymer implants for orthopedic digit surgeries in November 2021.

- Smith & Nephew plc partnered with a prominent university to conduct clinical trials for a new range of ceramic implants for finger joints in December 2021.