The rising prevalence of osteoporosis and osteoarthritis and the increasing geriatric population are driving the demand for lower extremity implants.
New York, USA, Dec. 20, 2024 (GLOBE NEWSWIRE) — Market Overview
The market for lower extremity implants is poised to grow, according to the latest research study by Polaris Market Research. The lower extremity implants market size was valued at USD 13.59 billion in 2024 and is projected to grow to USD 18.43 billion by 2034. It is anticipated to exhibit a CAGR of 2.8% during 2025–2034.
What Are Lower Extremity Implants?
Lower extremity implants are artificial components used to replace parts of the lower limb, such as the hip, thigh, knee, ankle, or foot. These implants usually aim to restore function, but they can also be used for cosmetic purposes. Lower extremity implants are categorized by several factors, including the level of amputation, the type of joint, and the intended use. Lower extremity implants can enhance the appearance of calves by making them more contoured, symmetrical, and balanced. Also, they help individuals with leg amputations get around more easily. These implants are made to fit the individual’s specific requirements after a thorough assessment and gait analysis by podiatrists.
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What Are Key Report Highlights?
- The market for lower extremity implants is anticipated to witness robust growth, reaching USD 18.43 billion by 2034.
- The development of durable and biocompatible materials is expected to be the key trend in the market.
- The market segmentation is primarily based on type, bio material, end use, and region.
- Based on type, the knee segment held the largest market share in 2024, driven by the high prevalence of knee-related conditions such as osteoarthritis.
- The lower extremity implants market research report offers market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Who Are Market Key Players?
The top companies in the lower extremity implants market are focused on the development, manufacturing, and distribution of innovative lower extremity implants. A few of the top market participants are:
- Zimmer Biomet Holdings, Inc.
- Stryker Corporation
- DePuy Synthes (a Johnson & Johnson company)
- Smith & Nephew plc
- Wright Medical Group N.V.
- Exactech, Inc.
- Medacta International SA
- Orthofix Medical Inc.
- Conformis, Inc.
- Globus Medical, Inc.
- NuVasive, Inc.
What’s Driving Market Demand?
Rising Demand for Minimally Invasive Surgeries: Minimally invasive surgeries are known for their several benefits, including reduced pain, shorter recovery times, and lower complication risks. As such, patients are increasingly opting for these surgical options. Thus, the rising trend toward minimally invasive surgical procedures is expected to significantly shape the lower extremity implants market growth.
Integration of 3D Printing Technology: The use of 3D printing enables manufacturers to produce custom implants tailored to a patient’s specific anatomy. Also, enables faster prototyping and produces complex designs that aren’t possible with conventional manufacturing options.
Shift Toward Biocompatible and Durable Materials: Advanced biomaterials are being increasingly preferred for manufacturing lower extremity implants as these materials offer better integration with the body’s tissues as compared to traditional materials. This shift towards biocompatible materials is another factor fueling the lower extremity implants market expansion.
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Which Region Leads Market Growth?
North America: North America holds the largest market share. The regional market growth is driven by several factors, including the presence of advanced healthcare infrastructure, high prevalence of orthopedic conditions, and significant healthcare expenditure.
Asia Pacific: The Asia Pacific lower extremity implants market is witnessing rapid growth. Increasing healthcare investments, improving access to advanced medical treatments, and rising disposable incomes are driving the demand for lower extremity implants in the region.
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How Is Market Segmentation Done?
By Type Outlook
- Knee
- Hip
- Foot & Ankle
By Biomaterial Outlook
- Metallic Biomaterials
- Ceramic Biomaterials
- Natural Biomaterials
- Polymeric Biomaterials
By End Use Outlook
- Hospitals
- Ambulatory Surgery Centers
- Clinics
By Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
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About Polaris Market Research & Consulting, Inc:
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