Global Implant & Prosthesis Fastener Market, By Type (Stainless Steel, Titanium, Bioabsorbable, and Others), By Application (Dental, Spinal, Orthopedic, and Facial), By End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 14.5 Billion in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focused on adopting growth strategies such as partnership and acquisition, and increasing fractures in bones, joints, etc. are expected to fuel the global implant & prosthesis fastener market during the forecast period. For instance, in July 2022, Envista, a dental products company, announced an extension and expansion of its commercial partnership with dentalcorp, a Canada-based network of dental practices. Envista will supply Nobel Biocare dental implant products, services, and training to the more than 500 clinics that operate under the wing of Canada’s dental support organization (DSO), dentalcorp. The dental giant said that the agreement expanded its existing partnership with the DSO and more than 1,500 dentalcorp-affiliated dentists will have access to Nobel Biocare’s extensive implant portfolio and training program.
Global Implant & Prosthesis Fastener Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global implant & prosthesis fastener market. The spread of coronavirus is negatively impacting the global implant & prosthesis fastener market as many surgeries such as spine surgeries, dental surgeries, etc., were cancelled or postponed due to the COVID-19 pandemic. For instance, in January 2021, according to an article published by the FMC, the communications company operating in the U.K. dental sector, patients with symptoms of a COVID-19 infection were prohibited from entering the implant clinic, which led to the postponement or cancellation of dental implant surgeries.
Global Implant & Prosthesis Fastener Market: Key Developments
In May 2022, DePuy Synthes, the orthopedics company of Johnson & Johnson Services, Inc., a manufacturer of healthcare products and provider of related services for the consumer, pharmaceutical, and medical devices markets, announced that the INHANCE Shoulder System had received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for use in reverse total shoulder arthroplasty procedures.
In October 2020, Colson Medical, Inc., a developer, manufacturer, and distributor of a wide range of innovative medical devices worldwide, announced the collaboration of Acumed LLC., a medical device manufacturer company, and OsteoMed, a supplier of premium medical device surgical products. The combined organization will be structured into Business Units (BU) which will be responsible for global sales, marketing, and research and development in implants and prosthetics.
On July 20, 2023, Neoss AG, a pioneer in dental implant solutions, announced a partnership with Osstell AB, a global organization that manufactures and markets instruments that assess the stability of dental implants. This dynamic collaboration marks a significant milestone in the dental industry, uniting the strengths of the two organizations to develop innovative products that will improve patient care worldwide.
In March 2021, IMPLANET, a medical technology company specializing in vertebral and knee-surgery implants, announced that it had finalized the agreement to acquire Orthopaedic & Spine Development (“OSD”), under suspensive conditions, which specializes in developing, manufacturing and marketing implants for spine surgery.
Browse 32 Market Data Tables and 26 Figures spread through 220 Pages and in-depth TOC on “Global Implant & Prosthesis Fastener Market”- Forecast to 2030, Global Implant & Prosthesis Fastener Market, By Type (Stainless Steel, Titanium, Bioabsorbable, and Others), By Application (Dental, Spinal, Orthopedic, and Facial), By End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Implant & Prosthesis Fastener Market:
- The global implant & prosthesis fastener market is expected to exhibit a CAGR of 5.4% during the forecast period, and this is attributed to increasing product launches by the market’s key players. For instance, in September 2021, IMPLANET, a medical technology company specializing in vertebral and knee-surgery implants, announced the product launch of its knee prosthesis in order to devote itself to its Spine business. This divestment would involve the entire Madison TM business relating to the design and marketing of implants for knee prosthesis surgery. To facilitate the operation and ensure the continuity of regulatory obligations, this operation will also be the subject of a contract covering a transition period during which the products will be manufactured by Implanet and distributed exclusively by Service Exports Reporting Form (SERF).
- Among End User, the hospitals segment is expected to dominate in the global implant & prosthesis fastener market over the forecast period, and this growth is attributed to the number of people with musculoskeletal disorders is rising globally, and there are more traffic accidents that result in fractures and hospitals are using more cutting-edge technologies. For instance, in June 2022, according to an article published by the Research Gate, in India, approximately 1.5 million people live with spinal cord injury (SCI). Approximately 20,000 new cases of SCI are added every year and 60-70% of them are illiterate, poor villagers.
- Among Types, the titanium segment is expected to hold a dominant position in the global implant & prosthesis fastener market during the forecast period, and this growth is attributed to its biocompatibility, low cost, and capability of inducing little or no deleterious effect on the surrounding tissue. For instance, in September 2021, Centinel Spine, LLC, a global medical device company, announced the launch of Angled Endplate implants for the prodisc L lumbar total disc replacement system. These new endplates have been designed to shift the lordotic angle of the implant to the inferior endplate, expanding the options available to surgeons to better address the varied lumbar anatomy and pathology of patients.
- Major players operating in the global implant & prosthesis fastener market include Johnson & Johnson Services, Inc., OSSTEM IMPLANT CO., LTD., Stryker, Zimmer Biomet, Nobel Biocare Services AG, Institut Straumann AG, Dentsply Sirona, Smith+Nephew, Acumed LLC, OsteoMed, B. Braun SE, and Dentium USA.