The global orthopedic implants market size is forecasted to reach $64 billion by 2026, according to a Fortune Business Insights report.
Three things to know:
1. The rising geriatric population will drive global demand for orthopedic surgery.
2. The United States Census Bureau reported that the global population in 2012 was 7 billion, with 562 million people, or 8 percent, aged 65 or older. This number increased by 55 million to 8.5 percent of the global population in 2015.
3. The USCB predicts the global geriatric population to double to 1.6 billion by 2050 due to a decrease in fertility rates and lengthening lifespans. This will widen the base of the orthopedic implants market, particularly the joint reconstruction sector.