Global Orthopedic Devices Market Size and Share Report, 2018 to 2026
The global orthopedic
device market size is expected to reach USD 47.7 billion by 2026, according to
the study performed by Grand View Research, Inc. It is anticipated to expand at
a CAGR of 3.1% over the forecast period. Major factors driving the market
include high demand for orthopedic surgeries owing to rising incidents of road
accidents and prevalence of orthopedic diseases.
Rise in geriatric population prone to orthopedic
conditions is primarily pushing the demand for orthopedic solutions globally. Effects
of aging such as lowering of bone density and weakening of bones due to
excessive loss of bone mass is prominent in people from 25 to 54 years age
group that become more noticeable after 55 years.
High adoption of minimally invasive surgeries and
increasing number of sports and road traffic accidents are expected to fuel
growth of the orthopedic devices market growth during the forecast period. Arthroscopy, minimally invasive
total joint replacement, and spine surgeries are some of the newly adopted
minimally invasive surgeries.
Stringent procedures of regulatory approvals are
anticipated to hinder market growth in near future. In addition, high cost of
devices and surgeries are some other factors likely to impede the growth.
Further
key findings from the study suggest:
- Knee orthopedic devices captured the largest market share in 2017
attributed to rise in knee surgeries including common knee injuries and
total knee replacements
- North America captured the largest market share in 2017 and is
expected to continue leading over the forecast period. The presence of a
large number of major market players and high adoption of advanced
technologies are the major driving factors.
- Asia Pacific is expected to exhibit a lucrative CAGR during the
forecast period. The presence of a large untapped market and supportive
government regulations are expected to attract attention of the global
market players.
- Some of the major players in the orthopedic devices market include
NuVasive, Inc.; Medtronic PLC; Zimmer-Biomet Holdings; DePuy Synthes;
Stryker; Aesculap Implant Systems, LLC; Donjoy, Inc.; and Conmed
Corporation.
Grand View Research has segmented the global
orthopedic devices market on the basis of application, product, and region:
Orthopedic
Devices Application Outlook (Revenue, USD Million, 2014 - 2026)
- Hip
- Knee
- Spine
- Cranio-Maxillofacial (CMF)
- Dental
- Sports Injuries, Extremities and Trauma (SET)
Orthopedic
Devices Product Outlook (Revenue, USD Million, 2014 - 2026)
- Accessories
- Braces
- Consumables
- Others
- Surgical Devices
- Drill Guide
- Guide Tubes
- Implant Holder
- Custom Clamps
- Distracters
- Screw Drivers
- Others
Orthopedic
Devices Regional Outlook (Revenue, USD Million, 2014 - 2026)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
Access
full research report on global orthopedic devices market:
https://www.grandviewresearch.com/industry-analysis/orthopedic-devices-market
Comments