Orthopedic Implants Market to Exhibit 5.3% CAGR from 2024 to 2032; Zimmer Biomet Collaborates with Formus Labs to Develop Advancing Surgical Platform through AI and ML

The global orthopedic implants market size was USD 45.19 billion in 2023. The market is anticipated to grow from USD 47.38 billion in 2024 to USD 71.74 billion by 2032, exhibiting a CAGR of 5.3% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Orthopedic Implants Market Size, Share & COVID-19 Impact Analysis, By Product (Joint Reconstruction (Knee, Hip, and Extremities), Spinal Implants (Spinal Fusion Devices and Spinal Non-fusion Devices), Trauma Implants, and Others), By End-user (Hospitals & Ambulatory Surgery Centers and Orthopedic Clinics & Others), and Regional Forecast, 2024-2032”.

The growing incidence of orthopedic disorders and the subsequent rise in orthopedic procedures are expected to surge the demand for orthopedic devices. A 2021 report from the Journal of Orthopedic Surgery and Research revealed that the global prevalence of osteoporosis stands at approximately 18.3%. The condition is more prevalent among women (23.1%) compared to men (11.7%) who are affected by it.Disrupted Demand and Surgical Procedures Amidst Stringent Regulations During Pandemic Deterred Market Growth

The global demand for orthopedic devices suffered a setback due to the adverse impact of the COVID-19 pandemic. The cancellation and postponement of surgical procedures, including implantations, significantly contributed to this decline. Furthermore, the American Academy of Orthopedic Surgeons (AAOS) implemented strict guidelines to minimize the risk of infection, which resulted in reduced adoption of these devices. These precautionary measures placed additional hurdles for surgeons and further affected the demand for orthopedic implants.Zimmer Biomet's AI-Powered Solution Anticipating Post-Hip Replacement Strengthens Position

In March 2022, Zimmer Biomet unveiled WalkAI, an innovative Artificial Intelligence (AI) model that identifies patients who are likely to have a lower walking speed following hip replacements. This technology is seamlessly integrated into the company's ZBEdge Connected Intelligence Suite, offering a distinct competitive advantage in the orthopedic implants sector.

Investments in Innovative Implants to Cater to Rising Demand to Augur Market Growth

To meet the rising demand for bone implantations and stay competitive, leading market players are investing in the development of innovative implants with a strong emphasis on customization. A notable example is Trabtech, a medical technology company, which recently secured a seed investment and research fund of approximately USD 1.4 million (€ 1.3 million) in January 2023. The funding will be dedicated to research & development efforts for new orthopedic implants and pediatric sectors.

However, the orthopedic implants market growth may face impediments due to the elevated expenses of implants and the potential adverse effects associated with these devices.

Market Expansion Strategies Include Robust Distribution Channels, Technological Innovations, and Partnerships

Market players are actively prioritizing well-established distribution channels and strategic partnerships with key service providers to enhance the reach of their products and drive market expansion. To gain a competitive edge in the fiercely competitive industry, major players are introducing technologically advanced orthopedic items. For example, in May 2021, THINK Surgical, Inc. received approval from the U.S. Food and Drug Administration (FDA) for BKS TriMax implants and the Balanced Knee System (BKS) when combined with THINK Surgical's TSolution One Total Knee Application.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/orthopedic-implants-market-101659Notable Industry Development

• February 2022 – Zimmer Biomet partnered with Formus Labs, a New Zealand-based start-up developing a surgical platform based on artificial intelligence and machine learning. The partnership involves an investment of USD 5 million as part of a co-development and global distribution of the platform technology.

List of Companies Profiled in the Report

• Zimmer Biomet (U.S.)


• Johnson & Johnson Medical Devices (U.S.)


• Smith+Nephew (U.K.)


• Stryker (U.S.)


• BioTek (U.S.)


• CONMED Corporation (U.S.)


• Medtronic (Ireland)


• DJO Surgical (U.S.)


• Exactech, Inc. (U.S.)


• Corin Group (U.K.)


• Conformis (U.S.)


• United Orthopedic Corporation (U.S.)


• Medacta International (Switzerland)


• Globus Medical (U.S.)


• B. Braun Melsungen AG (Germany)

Further Report Findings

• North America held a significant orthopedic implants market share in 2022 with a valuation of USD 24.05 billion. The increasing elderly populace, rising orthopedic conditions, high risk of bone fractures, and other bone disorders led to the region’s growth.


• Europe is the second leading region owing to strategic advancements of industry leaders, acquisitions, collaborations, and rising patient population with arthritis.

Table of Segmentation