ALBANY, N.Y, Aug. 3, 2020 /PRNewswire/ -- Escalating jobs related to sedentary work, increasing cases of alcohol consumers and smokers across the globe, and the heightening percentage of the geriatric population are significant factors that may draw a silver lining of growth across the horizon of orthopedic devices market.
In addition, the presence of diseases and disorders like fibromyalgia, juvenile arthritis, rheumatoid arthritis, osteoarthritis, and others may serve as good growth generators for the orthopedic devices market between 2019 and 2027.
Taking into consideration the aforementioned points, the analysts at Transparency Market Research (TMR) predict the global orthopedic devices market to expand at a CAGR of 4.3% during the forecast period of 2019-2027. The global orthopedic devices market was valued at US$ 46.2 bn in 2018.
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The constant revamping of healthcare setups by numerous hospitals across the globe and the growing support of the government in developing a cutting-edge and technologically upgraded health infrastructure for the citizens may assure a good growth rate for the global orthopedic devices market across the forecast period.
Orthopedic Devices Market: Major Revelations
- Joint reconstruction segment acquired the leading share in 2018 and is prophesied to continue the same trend of growth throughout the forecast period of 2019-2027
- In 2018, the hospitalization segment dominated the end-user segment and may observe moderate growth between 2019 and 2027
- Orthopedic clinics are prognosticated to record the highest CAGR during the forecast period
- North America had a lion's share in growth contribution and may continue to contribute significantly throughout the forecast period of 2019-2027
Explore 270 pages of in-depth research, incisive insights, and detailed country-level projections. Analyze and discover the latest developments in the Orthopedic Devices Market (Product - Joint Reconstruction (Hip Replacement, Knee Replacement, Elbow & Shoulder Replacement), Spinal Devices (Spinal Fusion Devices, Spinal Non-fusion Devices), Trauma Fixation, Orthopedic Prosthetics, Arthroscopy Devices, Orthopedic Braces and Supports, Orthopedic Accessories (Bone cement, Casting system, Removal systems); End use - Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 – 2027 at https://www.transparencymarketresearch.com/report-toc/1781
Orthopedic Devices Market: Growth Boosters
The technological advancements across diverse orthopedic devices and expansive demand for minimally invasive surgeries may bring good growth for the orthopedic devices market between 2019 and 2027.
- Enhanced biomaterial-based implants offering high strength may play a vital role in increasing the growth rate of orthopedic devices market
- Use of robots in surgeries, implant-related improvements, and 3D printing may bring great growth opportunities for the orthopedic devices market during the forecast period of 2019-2027
- Sport-related injuries are at an all-time high and the use of orthopedic devices for swift recovery may gain traction
- Orthopedic devices with improved precision and efficacy may assist greatly in the growth of the orthopedic devices market across the forecast period
- The escalating demand from surgeons for cutting-edge orthopedic devices may aid the orthopedic devices market in gaining a sizeable growth rate
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Orthopedic Devices Market: From Competitive Angle
The orthopedic devices market has numerous players that play an important role in the expansion of growth rate. Heavy investments in research and development activities are helping the manufacturers in the orthopedic devices market to explore untapped opportunities. In addition, activities like mergers, acquisitions, joint ventures, collaborations, and partnerships help the players in the orthopedic devices market garner influence and establish their foothold. This factor eventually helps the orthopedic devices market to gain growth.
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Key participants in the orthopedic devices market are DePuySynthes, Globus Medical, Zimmer Biomet, DJO Global, Smith & Nephew, Arthrex, Inc., NuVasive, Inc., and Medtronic.
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Global Orthopedic Devices Market: Segmentation
- Joint reconstruction
- Spinal devices
- Orthopedic braces and supports
- Trauma fixation
- Orthopedic accessories
- Orthopedic prosthetics
- Arthroscopy devices
- Orthopedic clinics
- Ambulatory surgical centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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