The Global Orthopedic Devices Market Report is a compilation of comprehensive research studies of various aspects of the Orthopedic Devices Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Orthopedic Devices market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Orthopedic Devices market and how they will evolve in the years to come.
Request a PDF sample copy of this report at @ https://www.absolutemarketsinsights.com/request_sample.php?id=220
Global orthopedic devices market was valued at US$ 42,670.0 million in 2022 and is estimated to reach US$ 58,400.0 million by 2030, growing at a CAGR of 3.55% over the forecast period.. Stryker Corporation, DePuy Synthes, Zimmer Biomet, Smith & Nephew, Medtronic Spinal, Becton Dickinson, and Company, Integra Lifesciences, DJO Global, NuVasive Inc., Globus Medical, Wright Medical, Orthofix, ConMed Corporation, and ConforMIS. New product launches, merger and acquisition, geographical expansion
Globally, high prevalence of bone degenerative diseases such as osteoporosis and arthritis among elderly people and rising injuries road accidents and adventure sports are the major factors for the orthopedic devices market growth. Elderly population being are more susceptible to incur musculoskeletal disorders due to sedentary lifestyle and obesity represent a large patient base of various orthopedic devices.
Technological advancements such as robot assisted surgeries, development in 3D printing technology, and innovations in the orthobiologics are the other prominent factors supporting market growth. Recently, two big players invested heavily to have early mover advantage. Stryker Corporation spent more than US$ 1.7 billion to develop its Mako Robotic Arm Surgical System to perform knee and hip replacement surgeries. Medtronic acquired Israel based Mazor Robotics, a global leader in robot assisted surgery systems, in December 2018. With this acquisition, Medtronic started offering integrated approach towards surgical planning.
Orthopedic surgeons also making use of 3D printing technology to create reconstructions/models of the bone defects. With this technology turnaround time could be decreased to six weeks, as compared to six-month lead time, resulting in more and more demand for orthopedic surgeries.
Moreover, rising agreements in the orthobiologics industry are also creating a favorable environment for the orthopedic devices industry propagation. For instance, recently in July, 2019, Bioventus LLC and MTF Biologics announced to develop placental tissue product to treat musculoskeletal disorders. The agreement will initially focus on knee osteoarthritis.
However, the chances of infection and high probability of revision surgeries proves to be major hurdles in market expansion path. Low insurance penetration rate and poor reimbursement scenario in the developing nations on some of the devices hinder their adoption, and thus market growth.
Joint reconstruction, spinal devices, trauma fixation, orthobiologics, arthroscopic devices are the few major products used as orthopedic devices. Joint reconstruction devices market held largest share in 2018, and it is projected to grow with robust rate over the forecast timeframe. The growth is majorly driven by growing cases of osteoporosis and osteoporosis. Moreover, technological advancements in knee implant and surgical procedure coupled with quick discharge after surgical in ambulatory surgical centers will propel knee replacement market growth.
Globally, North America orthopedic devices market held largest market share and is estimated to dominate the industry over the forecast period. Presence of quality driven companies and healthcare will result in market expansion across the region. However, Mexico orthopedic devices market will restrain faster market evolution across the continent. On the other side, U.S. orthopedic devices market, being most lucrative, hold great promise over the forecast period. Introduction and adoption of most advance orthopedic devices, tools and surgical procedure will drive industry growth. High average household income and access to healthcare are the major reasons behind rising demand for the orthopedic devices.
Asia Pacific orthopedic devices market is forecast to grow rapidly owing to the presence of huge geriatric population across the region. India orthopedic devices market is one the most potential marketplace owing to improving healthcare system, per capita healthcare expenditure, disposable income and technological advancements. Indian market is not only driven by domestic growth, but also by orthopedic medical tourism. Lately, there has been rapid uptick in medical tourism in India and China due to low cost healthcare offered by these countries. With the burgeoning cost of orthopedic surgeries in the developed countries, India and China have become hubs for the medical tourism, resulting in industry growth in both respective regions.
The report provides both, qualitative and quantitative research of orthopedic devices market, it also provides penetrative insights into the rational scenario and favored development methods adopted by key contenders. The report also offers extensive research on the key players in the market and detailed insights into the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by major players are also recognized and analyzed in the report. For each company, the report recognizes its headquarter, competitors, product/service type, application and specification, pricing, and gross margin.
Purchase the latest in-depth Market Report @ https://www.absolutemarketsinsights.com/checkout?id=220
Global Orthopedic Devices Market:
- By Product
- Joint reconstruction
- Hip replacement
- Knee replacement
- Ankle replacement
- Shoulder replacement
- Others
- Spinal devices
- Trauma fixation
- Orthobiologics
- Arthroscopic devices
- Others
- Joint reconstruction
- By Geography
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Argentina
- Brazil
- Rest of Latin America
- North America
Besides target market information, Absolute Markets Insights also provides information about your competitor, your customers, products etc. A few techniques we use are:
- Customer analysis
- Competitor analysis
- Risk analysis
- Product research
- Advertising research
- E-mail survey and many more…
- Market Research Methodology
We define the research problem: The step defining the research problem exists of two main steps:
- Formulating the problem
- Establishing research objectives
- Selecting and Establishing Research Design
The step selecting and establishing research design consists of three main steps:
- Select the research design
- Identify information types and sources
- Determine and design research instrument
About Us:
Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization. From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.
Contact Us:
Contact Name: Shreyas Tanna
Company: Absolute Markets Insights
Email Id: sales@absolutemarketsinsights.com
Phone: IN +91-7400-24-24-24, US +1-510-420-1213
Website: www.absolutemarketsinsights.com
