Over the years, the emergence of medical tourism as a popular and profitable industry has played a vital role in contributing to the growth of the global orthopedic implants industry. Several countries, namely India, Turkey, Thailand, Brazil and other developing countries have emerged as essential contributors to global medical tourism industry. Multiple factors have been responsible for attracting patients to tour worldwide for medical treatments. Cost effectiveness, availability of personalized and tailor-made services, better facilities, convenience, and advanced technologies have been vital in contributing to the medical travel facilities. In 2017, it was estimated that the total number of medical tourists across all countries was a staggering 14-16 million. It is further expected that the number of medical tourists travelling abroad seeking treatments will additionally increase at a rate of 25% every year. Orthopedic implant procedures have been one of the most lucrative segments which has witnessed lucrative increment in terms of the number of medical tourist over the past few years. Attractive pricing coupled with availability of advanced technology has been a major driver for the global orthopedic implants market, which is further anticipated to grow in the coming years.
The Orthopedic Implants Market is segmented on the basis of Product, End Users and region.
Major Types of Orthopedic Implants Market covered are:
- Spinal Implants (Spinal Fusion Devices and Spinal Non-fusion Devices)
- Joint Reconstruction (Knee Replacement, Hip Replacement, Shoulder Replacement)
- Trauma Implants (Pins/Wires, Metal Plates & Screws, Nails & Rods)
- Dental Implants
- Orthobiologics
Major End Users of Orthopedic Implants Market covered are:
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
Arthritis is considered to be a major health crisis in the US, it is estimated that a staggering 300,000 children and 54 million adults, suffer from arthritis or other forms of rheumatic diseases. According to Arthritis Foundation (US), it is anticipated that 78.4 million US adults would suffer from arthritis, by 2040. Growing incidences of these ailments is anticipated to significantly contribute to the global orthopedic implants market during the forecast period.
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