According to Coherent Market Insights, the global implant & prosthesis fastener market is estimated to be valued at US$ 12,538.8 million in 2020 and is expected to exhibit a CAGR of 4.9% during the forecast period (2020-2027).
Key Trends and Analysis of the Global Implant & Prosthesis Fastener Market:
Key trends in the global implant & prosthesis fastener market are the increasing incidence of fractures due to high prevalence of osteoporosis, product launches and approvals, and strategic mergers, acquisitions, and partnerships by market players.
According to the statistics provided by the International Osteoporosis Foundation (IOF) in October 2018, nearly 70 million people in China were suffering from osteoporosis and around 687,000 cases of hip fractures are registered every year in China.
Approval of new implant systems by regulatory authorities is expected to boost growth of the global implant & prosthesis fastener market during the forecast period. In January 2020, Silver Bullet Therapeutics, Inc., a medical device company, received recommendation for CE Mark approval for the commercial sale of its OrthoFuzIon in the European Union. OrthoFuzIon is an antimicrobial Bone Screw System designed for orthopedic reduction and internal fixation procedures anywhere in the body.
Furthermore, key players in the market are focused on adopting various inorganic strategies such as mergers and partnership agreements to enhance their product portfolio and strengthen their market presence which is expected to drive growth of the global implant & prosthesis market during the forecast period. For instance, in October 2017, Nobel Biocare, a provider of innovative implant-based dental restorations, entered into partnership agreement with Dentalpoint AG, a provider of ceramic dental implants. Under this agreement Nobel Biocare will offer its customers a completely metal-free screw-retained two-piece implant solution with an internal connection.
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Key Market Takeaways:
The global implant & prosthesis fastener market is expected to exhibit a CAGR of 4.9% during the forecast period. This is owing to increasing product approvals by regulatory authorities. For instance, in August 2017, In2Bones USA, LLC, a subsidiary of In2Bones Global, Inc., received U.S. Food and Drug Administration (FDA) approval for 5MS Fracture Repair System and the CoLag Locking Compression Screw System.
Among regions, North America is expected to hold dominant position in the global implant & prosthesis fastener market during the forecast period owing to an increasing number of amputations performed in the region. For instance, according to the Amputee Coalition, a U.S. based non-profit organization, around 185,000 amputations occur in the U.S. every year.
Key players operating in the global implant & prosthesis fastener market are Johnson & Johnson, Osstem Implant, Stryker Corporation, Zimmer Biomet, Nobel Biocare, Straumann, Dentsply Sirona, Smith & Nephew plc, Acumed, LLC, OsteoMed, B. Braun, and Dentium CO., LTD.
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- Global Implant & Prosthesis Fastener Market, By Type:
- Stainless Steel
- Global Implant & Prosthesis Fastener Market, By Application:
- Global Implant & Prosthesis Fastener Market, By End User:
- Ambulatory Surgical Centers
- Global Implant & Prosthesis Fastener Market, By Region:
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
- North America
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Senior Client Partner – Business Development
Coherent Market Insights
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