The smart orthopedic implants market is expected to witness market growth at a rate of 6.65% in the forecast period of 2021 to 2028, and is estimated to reach the value of USD 455,469.72 million by 2028. Data Bridge Market Research report on smart orthopedic implants market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rapid advancements in the healthcare sector globally is escalating the growth of smart orthopedic implants market.
The increase in the geriatric population across the globe acts as one of the major factors driving the growth of smart orthopedic implants market. The surge in the number of amputation being associated with diseases apropos of ageing such as osteoarthritis, bursitis, rheumatoid arthritis, and tendinitis, and acquisition of the privately developed models as well as niche players accelerate the market growth. The rise in the incidences of co-morbidities including obesity and diabetes leading the risk of degenerative joint diseases, especially in the older population, and governments taking efforts for spreading the awareness on treatment options for bone injuries such as orthopedic implants further influence the market.
Additionally, reimbursement changes, improved healthcare infrastructure, increase in the population, and expansion of pharmaceutical and biotechnology companies positively affects the smart orthopedic implants market. Furthermore, technological advancements in orthopedic implants extend profitable opportunity to the market players in the forecast period of 2021 to 2028.
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North America dominates the smart orthopedic implants market because of the technological advancements within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2021 to 2028 due to the new investments in the field of smart orthopedic implants.
The major players covered in the smart orthopedic implants market report are Freudenberg Group, Bally Ribbon Mills, ATEX TECHNOLOGIES, Confluent Medical Technologies, Elkem Silicones, BioSpace, KCWW., Mölnlycke Health Care AB, Rochal Industries LLC, AstraZeneca, 3M, Munksjö, Meister Cie AG, Biomedical Structures LLC, DSM, Medtronic, and Integra LifeSciences Corporation, among other domestic and global players.
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