India Orthopedic Devices Market outlook to 2028

India Orthopedic Devices Market Overview

The India Orthopedic Devices Market was valued at USD 1.53 billion in 2023. This growth is largely driven by the rising prevalence of orthopedic conditions, an aging population, and increased awareness of advanced treatments. Technological advancements and the growing adoption of minimally invasive surgical procedures have further fueled market expansion.

The major players in the Indian orthopedic devices market include Johnson & Johnson, Stryker Corporation, Zimmer Biomet, Medtronic, and Smith & Nephew. These companies dominate the market through extensive product portfolios and continuous innovation. They offer a wide range of orthopedic devices, including joint replacement systems, trauma fixation devices, and spinal implants.

Stryker Corporation has expanded its product portfolio with the introduction of the Tritanium spinal implant system in India in early 2024. This new system utilizes advanced titanium technology designed to enhance spinal fusion and improve patient recovery outcomes. The launch aligns with Stryker's commitment to innovation and reflects its strategic focus on the growing spinal implants market.

Major metropolitan areas such as Mumbai, Delhi, and Bangalore dominate the Indian orthopaedic devices market due to their advanced healthcare infrastructure and higher concentration of specialized orthopaedic clinics and hospitals. These cities also have a higher patient base due to urbanization and increased health awareness, driving demand for advanced orthopaedic solutions.

India Orthopedic Devices Market Segmentation

By Product Type: The India Orthopedic Devices Market is segmented by product type into joint replacement devices, trauma fixation devices, spinal implants, and other devices. In 2023, joint replacement devices commanded the largest share of the market. This dominance is attributed to the growing prevalence of arthritis and significant advancements in implant technologies, including hip and knee implants, which are preferred for their proven effectiveness in restoring mobility and enhancing the quality of life.

By End- User: The India Orthopedic Devices Market is segmented by end-user into hospitals, orthopedic clinics, and ambulatory surgical centers (ASCs). In 2023, hospitals held a dominant share due to their comprehensive facilities and the availability of advanced surgical technologies. This segment's preference is driven by hospitals' ability to offer a wide range of orthopedic procedures and manage complex cases effectively.

By Region: The Indian orthopedic devices market is segmented by region into North India, South India, East India, and West India. In 2023, North India dominated the market share, driven by its high population density and well-developed healthcare infrastructure, with major cities like Delhi and Chandigarh housing numerous orthopedic clinics and hospitals. South India follows closely, supported by its strong healthcare facilities in cities such as Bangalore and Chennai, which also contribute significantly to the market.

India Orthopedic Devices Market Competitive Landscape

Company

Establishment Year
Headquarters
Johnson & Johnson
1886
New Brunswick, USA
Stryker Corporation
1941
Kalamazoo, USA
Zimmer Biomet
1927
Warsaw, USA
Medtronic
1949
Minneapolis, USA
Smith & Nephew
1856
London, UK

Zimmer Biomet: On October 30, 2024, Zimmer Biomet outlined its strategic priorities for the period from 2024 to 2027 during its Investor Day. The company aims for a mid-single-digit percentage revenue growth and a significant increase in free cash flow. CEO Ivan Tornos highlighted a commitment to enhancing operational profitability and delivering customer-centric solutions, particularly in the orthopedic sector, which could influence their market presence in India.

Medtronic: In May 2023, Medtronic announced a significant investment of USD 3,000 crore (around USD 350 million) to expand its Engineering & Innovation Center (MEIC) in Hyderabad. This expansion is part of Medtronic's global R&D-led innovation strategy and aims to enhance its capabilities in developing advanced healthcare technologies, particularly in areas such as robotics, imaging, navigation, surgical technologies, and implantable devices. The investment builds on an initial USD 160 million investment made in 2020 and is expected to increase the workforce at MEIC from over USD 800 to more than USD 1,500 employees over the next five year.

India Orthopedic Devices Market Analysis

India Orthopedic Devices Market Growth Drivers

Increasing Prevalence of Orthopedic Conditions: The rising prevalence of orthopedic conditions, such as arthritis and osteoporosis, is a significant growth driver for the Indian orthopedic devices market. According to the National Osteoporosis Foundation, USD 50 million Indians are affected by osteoporosis, a condition that increases the demand for orthopedic implants and devices. In addition, the Ministry of Health and Family Welfare reports that arthritis cases are expected to rise by 20% annually, further driving the demand for joint replacement and trauma fixation devices.

Expansion of Healthcare Infrastructure: The Indian government has indeed been focusing on increasing its healthcare budget. The budget allocated USD 90,658.63 crore (around USD 10.93 billion), which indeed marks an increase from the USD 80,517.62 crore allocated in the revised estimates for the previous fiscal year (2023-2024). This represents a 12.59% increase in funding compared to the previous year.

Growing Awareness of Advanced Orthopedic Treatments: Increasing awareness among the Indian population about advanced orthopedic treatments is contributing to market growth. Public health campaigns and educational programs about joint health and orthopedic care, supported by government initiatives, are driving more people to seek advanced treatments. For instance, the Indian governments Healthy Bones campaign aims to educate USD 10 million people by 2025 about bone health, thus increasing the adoption of orthopedic devices and treatments.

India Orthopedic Devices Market Challenges

High Cost of Advanced Orthopedic Devices: The high cost of advanced orthopedic devices remains a significant challenge. Many patients in India face financial constraints, which limits their access to cutting-edge orthopedic solution, knee replacement surgery can cost between INR 1.5 lakh to INR 4 lakh (USD 1,800 to USD 4,800), which is prohibitive for a large segment of the population. This cost barrier hinders widespread adoption of advanced orthopedic devices, affecting market growth.

Limited Access to Rural Areas: Access to orthopedic care in rural India is a significant challenge, with the majority of the population living in rural areas spread across 649,481 villages covered by 725 districts. The lack of orthopedic facilities and healthcare infrastructure in these regions results in inadequate access to orthopedic treatments and devices for rural residents, thereby limiting market growth in these areas.

India Orthopedic Devices Market Government Initiatives

Ayushman Bharat Scheme: The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (PMJAY) aims to provide health insurance coverage to over 500 million individuals, particularly targeting economically weaker sections. As of 2024, it is projected that the scheme will facilitate around 100 million orthopedic procedures, significantly enhancing access to necessary surgeries and devices. The scheme offers a maximum coverage of INR 5 lakh per family per year for secondary and tertiary care hospitalization, which includes a wide range of orthopedic treatments.

National Health Mission (NHM): In 2023, The Ministry was allocated 89,155 crore, which indeed reflects an increase from the revised estimate of 86,175 crore for the previous year (2022-23). The NHM aims to enhance patient care and accessibility through its various programs, which include initiatives targeting maternal and child health, as well as the strengthening of healthcare infrastructure.

India Orthopedic Devices Market Outlook

The outlook for the Indian orthopedic devices market by 2028 is influenced by several key growth drivers, including advancements in orthopedic technology and increased healthcare investments. These factors are expected to contribute to substantial market expansion over the next five years.

Future Trends:

Expansion of Robotic Surgery: By 2028, the use of robotic-assisted surgeries is projected to become more widespread in India, with an anticipated increase in adoption rates. The growth will be supported by technological advancements and government initiatives aimed at improving surgical precision and patient outcomes. The market for robotic systems is expected to grow significantly, driven by their benefits in orthopedic procedures.

Development of Smart Implants: By 2028, the development and adoption of smart orthopedic implants are expected to gain momentum. These implants, equipped with sensors to monitor bone health and provide real-time data, will become increasingly prevalent due to their potential to improve patient outcomes and reduce the need for follow-up procedures.
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