Orthopedic Digit Implants Market
Number of pages: 100 | Report Format: PDF | Published date: 10 February, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market size value in 2021 |
US$ 86.5 Million |
|
Revenue forecast in 2030 |
US$ 155.85 million |
|
Growth Rate |
CAGR of 6.76% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments covered |
Product Type, Material, End User, and Region |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global orthopedic digit implants market was pulled out at US$ 86.5 Million in 2021 and is expected to witness a CAGR of 6.76% during the forecast period from 2022 to 2030.
Market Fundamentals
Orthopedic digit implants are designed to restore the function and appearance of a missing or damaged finger or a toe. They can be used to replace a single bone or multiple bones in the digit, depending on the extent of the injury or condition being treated. The implant is typically made of a biocompatible material such as titanium or a combination of titanium and plastic, allowing bone to grow and integrate with the implant over time. Recovery from digit implant surgery can take several weeks or months and will depend on the types of orthopedic implants used, the patient's overall health, and the extent of the damage or defect being treated. Physical therapy may be recommended to help with the healing process and to regain function in the finger or toe.
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Market Dynamics
The orthopedic digit implants market trends are driven by several factors that are shaping the industry. The growing aging population is one of the major drivers of the market. As the population ages, there is an increased incidence of degenerative diseases such as osteoarthritis, which can lead to the loss of bone and joint function in the fingers and toes. This, in turn, drives demand for digit implant surgery to restore function and improve quality of life. Trauma such as fractures, dislocations, and amputations can lead to the loss of bone and joint function in the fingers and toes.
Similarly, congenital defects can also lead to missing or malformed bones in the fingers or toes, requiring implant surgery. Advances in technology and materials have also played a role in the growth of the market. The development of more effective and durable digit implants and the growing availability of custom-made implants for specific patient needs have increased digit implantation surgery's success rate and popularity. However, the high cost of digit implant surgery can be high, and in some countries, there is a lack of reimbursement for the procedure. This can be a barrier to access for some patients and limit the market growth. Overall, the orthopedic digit implants market demand is expected to grow at a moderate rate in the coming years, driven by an aging population, an increase in the incidence of conditions such as osteoarthritis and rheumatoid arthritis, and advances in technology and materials.
Market Ecosystem
The global orthopedic digit implants market has been analyzed from four perspectives: Product Type, Material, End User, and Region.
Orthopedic Digit Implants Market by Product Type
The global orthopedic digit implants market can be segmented by product type into several categories. One of the main product types is fingertip implants. These are used to replace the distal phalanx, the bone at the tip of the finger. These implants are used to restore the tip of the finger after injury or amputation. They are designed to mimic the natural shape and function of the fingertip. They can be used to restore sensation, gripping power, and the overall appearance of the finger. Another product type is proximal phalanx implants. These are used to replace the proximal phalanx, which is the bone near the knuckle. These implants are used to restore the joint function in the finger. They can treat conditions such as osteoarthritis, rheumatoid arthritis, and trauma-related injuries. Middle phalanx implants are also available. These are used to replace the middle phalanx (the bone in the middle of the finger) and to restore joint function. Toe implants are also available, which are used to replace bones in the toes, similar to finger implants. These can treat conditions such as congenital defects, trauma, or degenerative diseases.
Orthopedic Digit Implants Market by Material Type
The global orthopedic digit implants market can be segmented by material type into several categories. The major orthopedic digit implants market share is occupied by metallic implants. These are made of materials such as titanium and stainless steel and are popular for their durability and biocompatibility. They are widely used in digit implant surgery due to their strength and ability to integrate with the surrounding bone over time. Another material type is a polymer or plastic-based implant. These are made of polyethylene and are known for their flexibility and biocompatibility. They are often used in digit implant surgery due to their ability to mimic the natural movement of the finger or toe. A third material type is composite implants, which are made of metallic and polymer materials. These materials are designed to combine metallic materials' strength with polymer materials' flexibility.
Additionally, there are also bio-absorbable implants available. These are made of materials absorbed by the body over time, leaving only the newly formed bone behind. Bioabsorbable materials are used in cases where the bone is expected to heal and fuse to the implant over time.
Orthopedic Digit Implants Market by End User
End user can segment the orthopedic digit implants market into several categories. One of the main end users in hospitals. These include public and private hospitals and are the primary location for digit implant surgeries. Hospitals have the necessary surgical facilities and trained staff to perform the procedures. Another end user is ambulatory surgical centers, equipped with the necessary facilities and staff to perform surgical procedures, including digit implant surgeries. They typically provide patients with a more convenient and cost-effective alternative to hospital-based surgeries. A third end user is orthopedic clinics, specialized medical facilities that focus on diagnosing and treating musculoskeletal conditions, including digit implant surgery. Additionally, there are end-users, such as rehabilitation centers, where patients receive post-surgical care and physical therapy to help them recover and regain function in the finger or toe after the implant surgery.
Orthopedic Digit Implants Market by Region
Based on the regional segmentation, the global orthopedic digit implants market is divided into North America, Europe, Asia Pacific, and the Rest of the World. North America is predicted to have the largest share of the global Orthopedic Digit Implants market among all other regions. The demand for orthopedic digit implants in North America will expand due to the region's aging population and the increased prevalence of rheumatoid arthritis, which will boost the market's overall growth. Additionally, the increased demand for and awareness of minimally invasive procedures will support market expansion across North America. The product's introduction in the area will likely positively impact the expansion of the device market. As an illustration, the United States Food and Drug Administration granted 510 (k) approval to Ensemble Orthopedics Inc. in December 2020 for the incorporation of the Ensemble CMC. Ensemble CMC is intended to treat patients with osteoarthritis of the front region of the carpometacarpal joint (CMC) using a straightforward, minimally invasive surgical procedure.
Furthermore, the prevalence of osteoarthritis is rising, which will boost product demand in North America. Over 32.5 million US individuals were projected to have osteoarthritis in 2020, according to the CDC 2020. The same source concluded that women experience osteoarthritis more frequently than males do. Although osteoarthritis can harm any joint, it most frequently affects the hands, knees, hips, and spine joints, where it produces inflammation and excruciating pain. Patients undergo a minimally invasive surgical procedure to receive orthopedic digit implants to treat their problems. Consequently, the market for orthopedic digit implants will see an increase in demand. As a result, it is projected that the rising incidence of osteoarthritis in North America will raise the need for orthopedic digit implants.
Competitive Landscape
Some of the most prominent competing companies in the global orthopedic digit implants market are,
Strategic Development
Orthopedic digit implants are artificial devices surgically implanted into the bones of fingers or toes to replace missing or damaged joints.
Key trends in orthopedic digit implants include advancements in materials and design for improved durability and range of motion, as well as increased use for reconstruction and replacement of damaged or missing digits.
Key companies operating in the global orthopedic digit implants market include Stryker, Zimmer Biomet, DePuy Synthes (Johnson & Johnson), Smith & Nephew, Wright Medical, and other smaller companies.
Factors restricting the global orthopedic digit implants market growth to its full potential include high costs of the devices, lack of reimbursement and insurance coverage, and a lack of awareness about the availability of digit implant options among patients and physicians.
The global orthopedic digit implants market is expected to witness a CAGR of 6.76% during the forecast period from 2022 to 2030.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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