Orthopedic Devices Market | 2021 Size, Growth, Share, Cap, Regional Analysis With Global Industry Forecast To 2027. The global orthopedic devices market size is projected to reach USD 68.51 billion by the end of 2027. The increasing investments in product R&D will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Orthopedic Devices Market Size, Share & COVID-19 Impact Analysis, By Type (Joint Reconstruction Devices, Spinal Devices, Trauma Devices, Orthobiologic Devices, Arthroscopy Devices, and Others), By End User (Hospitals, Orthopedic Clinic, Ambulatory Surgical Centers, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 53.44 billion and will exhibit a CAGR of 6.6% during the forecast period, 2020-2027.
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Key Players Operating in The Orthopedic Devices Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Stryker (Kalamazoo, U.S.)
- Johnson & Johnson Services, Inc. (New Jersey, U.S)
- Zimmer Biomet (Warsaw, U.S.)
- Smith & Nephew (Hertfordshire, U.S.)
- Medtronic (Dublin, Ireland)
- NuVasive, Inc. (California Inc.)
- Arthrex Inc. (Florida, U.S.)
- Globus Medical (Pennsylvania, U.S.)
- Össur Corporate (Reykjavik, Iceland)
- Integra LifeSciences (New Jersey, U.S.)
- Other prominent players
COVID-19 Pandemic to Delay Orthopedic Surgical Procedures
The recent coronavirus outbreak has had a negative impact on several industrial sectors across the world. Accounting to the rapid spread of the disease, governments in several countries have implemented strict measures to control the virus. These measures have had a drastic impact on medium and small scale businesses and evidently, only larger businesses have been able to sustain the negative traits of the pandemic. The delays in elective surgical procedures will restrict the growth of the orthopedic devices market in the coming months. Having said that, the efforts taken to unlock lockdowns and restore normality will bring relief to the companies in this sector.
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market. Furthermore, the report offers a detailed analysis and information as per Pharmaceuticals Market Growth Analysis by manufacturers, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.
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Joint Reconstruction Segment to Lead Backed by Increasing Number of Surgical Procedures
Based on type, the market is grouped into joint reconstruction devices, dental implants, trauma devices, spinal devices, orthobiologic devices, arthroscopy devices, trauma devices, and others. Out of these, in 2018, the joint reconstruction segment held 35.8% in terms of orthopedic devices market share and is anticipated to lead the market throughout the forecast period. This growth is attributable to the rising number of procedures, namely, extrementies and shoulder reconstructions, hip and knee replacements, and other similar procedures associated with joints. The arthroscopy devices segment is likely to expand at fast pace owing to the increasing emergence of novel products and upsurging cases of soft tissue injuries related to sports
High Purchasing Power of the Masses to Favor Growth in Asia Pacific
Geographically, the market is fragmented into Latin America, Asia Pacific, the Middle East and Africa, North America, and Europe. Amongst these, North America procured USD 23.86 billion orthopedic medical devices market revenue in 2018. This growth is attributable to the presence of adequate reimbursement policies, as well as surging incidence of orthopedic surgeries. Apart from these, availability of state-of-the-art treatment options and rising awareness among the patient pool regarding the presence of these advanced devices would contribute to the market growth.
Europe, on the other hand, is set to generate the second-largest market share in the coming years on account of the rising healthcare expenditure and increasing awareness campaigns about unique products. Asia Pacific would showcase a considerable CAGR because of the growing patient pool and increasing purchasing power of the masses in the developing nations, such as China and India.
Detailed Table of Content:
1 Orthopedic Devices Market Overview
1.1 Orthopedic Devices Product Overview
1.2 Orthopedic Devices Market Segment by Type
1.3 Global Orthopedic Devices Market Size by Type (2015-2027)
1.3.1 Global Orthopedic Devices Market Size Overview by Type (2015-2027)
1.3.2 Global Orthopedic Devices Historic Market Size Review by Type (2015-2021)
188.8.131.52 Global Orthopedic Devices Sales Market Share Breakdown by Type (2015-2027)
184.108.40.206 Global Orthopedic Devices Market Share Breakdown by Type (2015-2027)
220.127.116.11 Global Orthopedic Devices Average Selling Price (ASP) by Type (2015-2027)
1.3.3 Global Orthopedic Devices Market Size Forecast by Type (2021-2027)
18.104.22.168 Global Orthopedic Devices Sales Market Share Breakdown by Application (2021-2027)
22.214.171.124 Global Orthopedic Devices Revenue Market Share Breakdown by Application (2021-2027)
126.96.36.199 Global Orthopedic Devices Average Selling Price (ASP) by Application (2021-2027)
1.4 Key Regions Market Size Segment by Type (2015-2021)
1.4.1 North America Orthopedic Devices Sales Breakdown by Type (2015-2027)
1.4.2 Europe Orthopedic Devices Sales Breakdown by Type (2015-2027)
1.4.3 Asia-Pacific Orthopedic Devices Sales Breakdown by Type (2015-2027)
1.4.4 Latin America Orthopedic Devices Sales Breakdown by Type (2015-2027)
1.4.5 Middle East and Africa Orthopedic Devices Sales Breakdown by Type (2015-2027)
2 Global Orthopedic Devices Market Competition by Company
2.1 Global Top Players by Orthopedic Devices Sales (2015-2021)
2.2 Global Top Players by Orthopedic Devices Revenue (2015-2021)
2.3 Global Top Players Orthopedic Devices Average Selling Price (ASP) (2015-2021)
2.4 Global Top Company Orthopedic Devices Manufacturing Base Distribution, Sales Area, Product Type
2.5 Orthopedic Devices Market Competitive Situation and Trends
2.5.1 Orthopedic Devices Market Growth Rate (2015-2021)
2.5.2 Global 5 and 10 Largest Company by Orthopedic Devices Sales and Revenue in 2019
2.6 Global Top Company by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Orthopedic Devices as of 2019)
2.7 Date of Key Company Enter into Orthopedic Devices Market
2.8 Key Company Orthopedic Devices Product Offered
2.9 Mergers and Acquisitions, Expansion
3 Global Orthopedic Devices Status and Outlook by Region (2015-2027)
3.1 Global Orthopedic Devices Market Size and CAGR by Region: 2015 VS 2021 VS 2027
3.2 Global Orthopedic Devices Market Size Market Share by Region (2015-2021)
3.2.1 Global Orthopedic Devices Sales Market Share by Region (2015-2021)
3.2.2 Global Orthopedic Devices Revenue Market Share by Region (2015-2021)
3.2.3 Global Orthopedic Devices Sales, Revenue, Price and Gross Margin (2015-2021)
3.3 Global Orthopedic Devices Market Size Market Share by Region (2021-2027)
3.3.1 Global Orthopedic Devices Sales Market Share by Region (2021-2027)
3.3.2 Global Orthopedic Devices Revenue Market Share by Region (2021-2027)
3.3.3 Global Orthopedic Devices Sales, Revenue, Price and Gross Margin (2021-2027)
3.4 North America Orthopedic Devices Market Size By Growth (2015-2027)
3.4.1 North America Orthopedic Devices Revenue By Growth (2015-2027)
3.4.2 North America Orthopedic Devices Sales By Growth (2015-2027)
3.5 Asia-Pacific Orthopedic Devices Market Size By Growth (2015-2027)
3.5.1 Asia-Pacific Orthopedic Devices Revenue By Growth (2015-2027)
3.5.2 Asia-Pacific Orthopedic Devices Sales By Growth (2015-2027)
3.6 Europe Orthopedic Devices Market Size By Growth (2015-2027)
3.6.1 Europe Orthopedic Devices Revenue By Growth (2015-2027)
3.6.2 Europe Orthopedic Devices Sales By Growth (2015-2027)
3.7 Latin America Orthopedic Devices Market Size By Growth (2015-2027
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Reasons to Purchase this Report:
- Comprehensive analysis of the Orthopedic Devices Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Orthopedic Devices Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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