The global orthopedic devices market size is estimated to be over USD 51.25 billion by 2025. Increasing prevalence of orthopedic diseases coupled with rising geriatric population which are susceptible to various orthopedic disorders such as musculoskeletal disorder propel the demand for orthopedic devices. In addiiton, rising incidence of diabetes, osteoarthritis, osteoporosis and obesity also boost the demand for orthopedic devices market globally. The global orthopedic devices market is expected to grow at a CAGR of 4.4% during the forecast period from 2018 to 2025.
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The market players are introducing new and innovative orthopedic devices to match the growing demnad among the patient population. Introduction of technologically advanced orthopedic devices reduces the cost of the devices compared to the earlier or old version of the devices. Thus, key players are constantly upgrading their products in order to expand and enhance their market reach. In addition, favorable reimbursement policies for orthopedic devices also support the increase in uptake of the orthopedic devices globally.
The global orthopedic devices market is segmented by devices. The devices segment is categorized as orthobiologics, joint reconstruction, spinal devices, trauma fixation devices, arthroscopic devices, orthopedic accessories, orthopedic braces and support system. The orthobiologics segment is further classified as bone graft substitutes, bone allograft, stem cell therapy, bone growth factors & spinal stimulation, and viscossupplementation. The joint reconstruction devices segment includes various devices such as ankle replacement, digits replacement, elbow replacement, hip replacement, knee replacement, and shoulder replacement. The spinal devices segment includes spinal fusion devices, and spinal non-fusion devices. The trauma fixation devices is classified as internal fixator devices, and external fixator devices.
The arthroscopic devices segment market is further categorized as arthroscopes, arthroscopic hand instrument, fluid management devices, power saver devices, radiofrequency probe, and drill guide. The orthopedic accessories segment market is further categorized as bone cement, casting system and removal system. The orthopedic braces and support system segment market is classified as spinal orthosis, ankle braces & supports, knee braces & supports, wrist braces, and upper extrimity braces. The regional market of global orthopedic devices is segmented as North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Russia, Rest of Europe), Asia Pacific (China, Japan, India, Korea, Southeast Asia and Rest of Asia-Pacific) and South America, Middle-Eats & Africa (Brazil, Egypt, Saudi Arabia, South Africa, Nigeria, and Rest of the World). In 2017, North America dominated the global orthopedic devices market and is expected to retain its dominance during the forecast period from 2019-2025.
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DePuy Synthes, Stryker Corporation, Zimmer Biomet, Smith & Nephew, Medtronic, Conmed Corporation, NuVasive, Inc. are come of the prominent players operating in the global orthopedic devices market. The key players are focusing on expanding their product portfolio with the introduction of new and innovative technologically advanced devices.
Geographically, in 2017 North America dominated the global orthopedic devices market. The dominance of the region was majorly due to increasing awareness among the patient population for orthopedic injuries, rising disposable income, and presence of prominent players in the region. Owing to the above mentioned factors North America is expected to retain its dominance during the forecast period from 2019-2025.
Table of Content:
Chapter 1 Executive Summary
Chapter 2 Research Methodology
Chapter 3 Market Outlook
Chapter 4 Orthopedic Devices Market, by Type
Chapter 5 Orthopedic Devices Market, by Region
Chapter 6 Company Profiles
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