Smart Orthopedic Implants Market Size, Share, Opportunities, And Trends By Application (Knee, Hip, Others), By Implants Procedure (Total Replacement, Partial Replacement, Others), By End-User (Hospitals, Clinics, Others), And By Geography - Forecasts From 2023 To 2028

The smart orthopedic implants market is estimated to grow at a CAGR of 5.64% during the forecast period.

Smart orthopedic implants are the kind of medical technology that can offer both therapeutic and diagnostic advantages. For enhanced patient care along the treatment pathway, smart implants include inbuilt sensors that give surgeons real-time information for situating the implant during the surgical operation as well as post-operative assessment. Periprosthetic infection, a rising issue in orthopedic practice, may be lessened with smart orthopedic implants. 

Opportunities for the smart orthopedic implants industry to increase

The potential income stream for smart orthopedic implants is represented by the growth in market value. The overall addressable smart orthopedic implants industry is being driven by expanding R&D projects, orthopedic procedures, improvements in supporting technology like robots and surgical navigation, and actions by important firms. The world's first smart knee implant for complete knee replacement surgery was introduced by Zimmer Biomet in August 2021 after receiving FDA approval and a De Novo classification award.

Rise in the geriatric population

The rising older population throughout the world is one of the key drivers boosting the smart orthopedic implants market. The smart orthopedic implants market growth is fueled by the rise in amputations brought on by age-related illnesses such as osteoarthritis, bursitis, rheumatoid arthritis, and tendinitis as well as the purchase of privately produced models and niche market players. The smart orthopedic implants industry is impacted by the increase in joint diseases, particularly in the aging population and the rising prevalence of obesity and diabetes.

Prevalence of orthopedic disorders

Smart orthopedic implants market share growth is anticipated to be fueled by the incidence of orthopaedic ailments and a rise in surgical volume. For instance, 70,000 knee replacement procedures are performed annually, according to a National Health Service 2022 article. An increasing geriatric population is also expected to boost the smart orthopedic implants market rise because arthritic disorders are becoming more common in the senior population. Additionally, it is projected that a surge in musculoskeletal problems would fuel smart orthopedic implant market growth.

Rising investment in the latest technologies

Orthopedic operations are becoming safer, with fewer problems, and better patient outcomes owing to the adoption of robotic systems and digital supporting technologies, such as navigation systems. As a result, it is predicted that this will play a significant role in the study, creation, and use of intelligent orthopaedic implants. Smart orthopedic implants market players are taking advantage of this trend to launch new goods, incorporate enabling technologies, raise their R&D spending, and grow their smart orthopedic implants industry share. For instance, eCential Robotics and Amplitude Surgical developed a robotic knee surgery solution in April 2022.

The North smart orthopedic implants market is projected to propel  

North America is anticipated to hold the largest market share, dominating the industry. The region's strong smart orthopedic implants market share is due to the presence of eminent businesses like Zimmer Biomet. Another important aspect contributing to the region's huge share is the strong penetration of robotic and digital technology in healthcare. The increased incidence of orthopaedic disorders is expected to stimulate regional smart orthopedic implants industry expansion in the future years. According to the Centres for Disease Control and Prevention (CDC), 78.4 million Americans will have arthritis as determined by a doctor by the year 2040.

Asia Pacific is anticipated to be the second-largest market shareholder

The region with the second largest projected growth rate is Asia-Pacific. It is projected that an increase in the frequency of fractures and injuries associated with sports would fuel smart orthopedic implant market growth. The smart orthopedic implants market is also anticipated to grow as a result of the speedy advancement of digital health technologies and the huge market demand in China and India for smart orthopedic implants. Asia-Pacific provides attractive prospects for major companies operating in the smart orthopedic implants industry and will develop at the quickest rate during the projected period due to the region's increasing industrial infrastructure and established domestic firm presence.

Growth strategies by market players

The smart orthopedic implants industry is a developing market with significant room for expansion. Zimmer Biomet's first smart knee that has received FDA approval due to Persona IQ, the company is a smart orthopedic implants market leader. Zimmer Biomet is looking into further uses for the smart implant technology which the company and Canary Medical created together. To penetrate the smart orthopedic implants market and increase their income potential, other significant market players are putting strategic efforts into the market, such as mergers and acquisitions, collaborations, and research and development.

Smart Orthopedic Implants Technology

• Reverse Total Shoulder Sensor, OrthoSensor developed an intraoperative sensor trial that helps with balance during reverse total shoulder arthroplasty and offers knowledge into impingement, stability, and mobility.
• Sensors for the Spine, LOADPRO, and ACCUVISTA were created by Intellirod Spine. Spine surgeons may equalize the stress placed on implanted fusion rods during surgery using this one-time-use gadget.
• Smart screw system, a pedicle screw with the DSG-enabled screw (Dynamic Surgical Guidance technology) is a singular amalgam of a bipolar sensor and a pedicle screw. With the help of this technology, surgeons place the screw precisely and with real-time guidance in the spine.

Market Key Developments

• In January 2023, Enovis Corporation, a medical technology company focused on innovation, announced the launching of the DynaClip DeltaTM and DynaClip QuattroTM bone staples, the newest additions to the company's expanding foot and ankle portfolio and the DynaClip® family of bone fixation devices.
• In October 2022, The TELIGENTM System, an integrated technology platform that enables minimally invasive surgical transforaminal lumbar interbody fusion (MIS-TLIF) procedures using digital tools for visualization and access, recently received 510(k) clearance from the FDA.
• In October 2022, The Monterey AL Interbody System, designed for anterior lumbar interbody fusion (ALIF), was released by Stryker, one of the biggest medical technology companies in the world.

Segmentation:

• By Application
  • Knee
  • Hip
  • Others
• By Implants Procedure
  • Total Replacement
  • Partial Replacement
  • Others
• By End-User
  • Hospitals
  • Clinics
  • Others
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others