Orthopedic Contract Manufacturing Market Observe Significant Growth Of USD 12.96 Billion By 2030


 San Francisco, 14 March 2024: The Report Orthopedic Contract Manufacturing Market Size, Share & Trends Analysis Report By Type (Implants, Instruments), By Services, By Region, And Segment Forecasts, 2024 - 2030

The global orthopedic contract manufacturing market size is anticipated to reach USD 12.96 billion by 2030 and it is projected to grow at a CAGR of 7.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increase in off-shoring medical device manufacturing to the emerging economies, growing incidence of orthopedic conditions, technological advancements in orthopedic implants, and increasing pipeline products are few of the factors supporting the demand for contract manufacturing services, thereby augmenting the growth of the global market.

Technological innovations in orthopedic devices and implants have significantly transformed the landscape of musculoskeletal healthcare, enhancing patient outcomes and revolutionizing treatment approaches. Technological advancements such as 3D printing, advanced alloys, minimally invasive techniques, and nanotechnology applications are some parameters boosting demand for orthopedic products. Several medical device companies are focusing on the development of such novel products.

For instance, in April 2022, The Orthopaedic Implant Company announced the FDA clearance of its high-value dorsal spanning plate. This latest inclusion in the company’s orthopedic trauma implant lineup extends the potential clinical benefits of the DRPx wrist fracture plating system, solidifying its position as the most comprehensive and cost-effective alternative to other premium-priced plating systems. Hence, in response to meeting these demands, several original equipment manufacturers are collaborating with contract manufacturers to fast-track the development and manufacturing of these products, thus supporting market growth.

Furthermore, increasing patient demand for personalized and customized orthopedic implants, tailored to patient-specific anatomy and requirements is driving the need for third-party vendors with specialized expertise to manufacture such products. Moreover, the surge in orthopedic conditions such as osteoarthritis, bone fractures, and traumas has further boosted demand for bone health products, thereby supporting the growth of the global market.

Access Research Report of Orthopedic Contract Manufacturing Market @ https://www.grandviewresearch.com/industry-analysis/orthopedic-contract-manufacturing-market-report

Orthopedic Contract Manufacturing Market Report Highlights

  • Based on type, the implants segment dominated the market with a 63.5% revenue share in 2023. This large share is attributed to the increasing demand for novel orthopedic implants and increasing regulatory clearance of such products
  • Based on service, the spine & trauma segment is expected to grow at the fastest CAGR over the forecast period. The high growth of the segment is majorly due to the advancements in materials and technologies used to develop such products, which provide superior health benefits. This has resulted in a high number of product launches in this segment, thus simultaneously boosting demand for contract manufacturing services
  • North America dominated the market owing to factors such as increasing prevalence of orthopedic conditions in the region, presence of major market players, availability of reimbursement, and government support for quality healthcare
  • Asia Pacific is anticipated to witness a lucrative CAGR across the analysis timeframe. High growth of the region is majorly due to the presence of a vast and diverse patient population, increasing healthcare investments, favorable economic conditions, and a rising trend of outsourcing manufacturing processes have contributed to the emergence of the Asia-Pacific region as a key hub for high market growth

Orthopedic Contract Manufacturing Market Report Scope

Report Attribute

Details

Market size value in 2024

USD 8.28 billion

Revenue forecast in 2030

USD 12.96 billion

Growth rate

CAGR of 7.7% from 2024 to 2030

Base year for estimation

2023

Historical data

2018 - 2022

Forecast period

2024 - 2030

List of Key Players in the Orthopedic Contract Manufacturing Market

  • Tecomet, Inc
  • Orchid Orthopedic Solutions
  • Cretex companies
  • Viant
  • ARCH Medical Solutions Corp.
  • Avalign Technologies
  • LISI Medical
  • Paragon Medical
  • Norman Noble, Inc.
  • Autocam Medical

Access Press Release of Orthopedic Contract Manufacturing Market @ https://www.grandviewresearch.com/press-release/global-orthopedic-contract-manufacturing-market 

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