Orthopedic implant market to hit $6.2 billion

Editor's Note

The global orthopedic implant market is predicted to hit $6.2 billion by 2024, the August 26 Becker’s Spine Review reports.

Factors that will impact the market:

• A growing number of geriatric patients and sports injuries will drive market growth.
• The cost and unfavorable reimbursements of implants will hinder market growth.
• Knee replacement accounted for the largest market share in 2015.
• North America accounted for 53.4% of market share and will dominate through 2014.
• Asia Pacific will have the fastest market growth because of increasing disposable incomes, improved awareness of orthopedic prosthetics, and the medical tourism industry.

The global orthopedic implants market is set to hit $6.2 billion by 2024, based on a Grand View Research report. Here are seven points: 1. A growing geriatric population and increasing number of sports injuries will drive market growth. 2. The implants' costliness and unfavorable reimbursements will hinder market growth.