The study involved four major activities in estimating the current size of the orthopedic implants market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, company house documents, investor presentations, and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and commercial orthopedic implants market study. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various supply and demand sources were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as Chief Executive Officers (CEOs), vice presidents (VPs), marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in the orthopedic implants market. The primary sources from the demand side include hospitals & surgical centers and ambulatory & trauma care centers. Primary research was conducted to validate the market segmentation, identify key players, and gather insights on key industry trends & key market dynamics.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
The tiers of the companies are defined based on their total revenue. As of 2023: Tier 1 => USD 1 billion, Tier 2 = USD 200-500 million to USD 1 billion, and Tier 3 =< USD 200 million
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the orthopedic implants market.These methods were also used extensively to estimate the size of various subsegments in the market . The research methodology used to estimate the market size includes the following:
Data Triangulation
After arriving at the overall market size from the market size estimation process explained above, the orthopedic implants market was split into segments and subsegments. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the orthopedic implants market was validated using top-down and bottom-up approaches.
Market Definition
An orthopedic implant is a medical device used to correct bone, joint, and other tissue disorders, injuries, or diseases. The implants are utilized for multiple applications, including fractures and related surgeries, where a support or replacement part is installed in the bone. These implants are manufactured using biocompatible materials such as metals and metal alloys, polymers, ceramics, and hybrid materials. The primary end users of this market are hospitals, surgical centers, ambulatory surgical centers, and trauma care centers.
Stakeholders
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Orthopedic implant Manufacturers
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Trauma care centers
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Ambulatory surgical centers
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Hospitals
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Orthopedic implants distributors and suppliers
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Orthopedic surgeons
Report Objectives
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To define, describe, and forecast the orthopedic implants market based on type, material, end user, and region
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To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
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To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the total market
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To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
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To forecast the revenue of the market segments with respect to five regions, namely, North America, Europe, the Asia Pacific, Latin America, Middle East and Africa
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To profile the key players and comprehensively analyze their market ranking and core competencies
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To benchmark players within the market using a proprietary competitive leadership mapping framework, which analyzes market players on various parameters within the broad categories of market share and product footprint
HIGHEST CAGR MARKET IN 2023
US FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Orthopedic Implants Market