Global Orthopaedic Devices Markets, 2020-2027: Evolution in the Robotic-Assisted Surgery With Smaller Incision and Post-Operative Care Reduction - Increasing Demand for Minimally Invasive Surgeries
DUBLIN, Jan. 20, 2021 /PRNewswire/ -- The "Orthopaedic Devices Global Market - Forecast To 2027" report has been added to ResearchAndMarkets.com's offering.
The orthopaedic devices global market is expected to reach $53,607.2 million by 2027 growing at a high single digit CAGR.
Over the decade, due to the technological advancements with emerging and innovative technologies used under minimally invasive conditions has led to the rapid development of orthopaedic device. As a result of rapid advances, there is great expansion in the potential therapeutic application for musculoskeletal injuries, deformities and diseases.
The market is primarily driven by the increase in incidence and prevalence of musculoskeletal diseases such as osteoarthritis, osteoporosis, spinal degenerative diseases, spondylitis, lower back pain, herniated spinal discs, and injuries due to trauma and sports activities, increase in the aging population, technological advancement, acquisitions and factors such as product recall, complications associated with implanted devices, lack of skilled and trained professionals to carry out minimally invasive surgery, high cost of the implant, surgery and also stringent regulatory policies for the product approval due to classification of the orthopaedic devices as class II and III devices are hindering the growth of the market.
Among products, the spine segment accounted the largest share in 2020 due to technological advancements in the implants, surgery type and increase in the aged population coupled with rise in number of trauma and sports injuries. The extremities segment anticipated as the fastest growing segment and expected to grow at a CAGR of high single digit CAGR from 2020 to 2027 due to increase in the road accident coupled with sports injuries and rise in the geriatric population.
The extremities by product type are segmented into upper and lower extremities. Among extremities, the upper extremities accounted for the highest revenue in 2020 and the lower extremities segment is the fastest growing segment and is projected to grow at a high single digit CAGR from 2020 to 2027 as the lower extremities consisting of foot, limb, and ankle are more susceptible to injury and fractures in as a result of trauma and sports activities.
The upper extremity products are further segmented into shoulder and other upper extremities. Under upper extremities, the shoulder division accounted for the largest revenue share of the global upper extremities devices revenue in 2020 and is expected to grow at a double digit CAGR of from 2020 to 2027 owing to increased incidence of shoulder dislocation and pain associated as a result of rise in incidence of musculoskeletal diseases, occupational, sports and trauma injuries.
The spine segment by product type is segmented into fusion and non-fusion devices. Among the spine device market, the fusion device contributed for the largest revenue share of in 2020 and the non-fusion device division is expected to grow at a double digit CAGR from 2020 to 2027. As a result of rising awareness and better efficiency of spinal stabilization and retention of spinal movements by non-fusion devices as compared to the fusion-devices.
Further the fusion device market is categorized into cervical devices, thoracolumbar devices and interbody devices. Among the fusion devices, thoracolumbar devices accounted for the largest revenue in 2020 and the interbody devices are expected to grow at a high single digit CAGR from 2020 to 2027 owing to rapid acceptance of spinal interbody arthrodesis and higher efficiency of reconstruction stability.
The non-fusion segment is further classified into artificial disc, dynamic stabilization devices, and annulus repair devices. Among non-fusion devices, the dynamic stabilization device accounted for the largest revenue in 2020 and the artificial discs segment is expected to grow at a double digit CAGR from 2020 to 2027 as the artificial discs aid in the replacement of degenerated discs, movement retention and is the most preferred implant to overcome herniated disc and lower back pain.
The orthobiologics segment is further divided into synthetic graft, demineralized bone matrix, machined bone allograft, and others. Among orthobiologics, the machined bone allografts contributed for the highest revenue in 2020 and the demineralized bone matrix is expected to grow at a mid single digit CAGR from 2020 to 2027 owing to improved osteoconductive and osteoinductivity properties as compared to other grafts.
The global orthopaedic market by surgery type is segmented into open, minimally invasive and robotic-assisted surgery. Among surgery type, the open surgeries accounted for the highest revenue in 2020 and the robotic assisted surgery is anticipated to grow at a high teen CAGR from 2020 to 2027 due to technological advancements in robotics assisted surgery, favourable reimbursement scenarios for robotic-assisted surgeries and precise and accurate placing of implants with minimal damage to the other tissues and bones.
Key Topics Covered:
1 Executive Summary
2 Introduction
3 Market Analysis
3.1 Introduction
3.2 Market Segmentation
3.3 Factors Influencing Market
3.3.1 Drivers and Opportunities
3.3.1.1 High Prevalence and Incidence of Orthopaedic Disorders and An Increase in the Aging Population
3.3.1.2 Increase in Accidents and Sports Injuries
3.3.1.3 Increasing Demand for Minimally Invasive Surgeries
3.3.1.4 Technological Advancements
3.3.1.5 Acquisition and Collaborations as a Part of the Growth Strategy
3.3.2 Restraints and Threats
3.3.2.1 Product Recalls Due to Manufacturing Errors
3.3.2.2 Lack of Skilled Orthopaedic Surgeon
3.3.2.3 Adverse Events and Complications With the Implantations of Orthopaedic Devices
3.3.2.4 High Cost of Orthopaedic Implants and Surgery
3.3.2.5 Stringent Regulatory Policies
3.4 Regulatory Affairs
3.4.1 International Organization for Standardization
3.4.1.1 Iso 9001: 2015 Quality Management System
3.4.1.2 Iso 13485 Medical Devices
3.4.1.3 Iso /Ts 16782: 2016 Clinical Laboratory Testing
3.4.1.4 Iso 10993 Biological Evaluation of Medical Devices
3.4.2 The U.S.
3.4.3 Canada
3.4.4 Europe
3.4.5 Japan
3.4.6 China
3.4.7 India
3.5 Technological Advancements
3.5.1 Introduction
3.5.2 3D Printing and Development of Patient-Specific Implants
3.5.3 Implant Materials and Coatings
3.5.4 Smart Implants
3.5.5 Evolution in the Robotic-Assisted Surgery With Smaller Incision and Post-Operative Care Reduction
3.6 Implant Materials and Coatings
3.6.1 Metals
3.6.2 Ceramics and Bioglass
3.6.3 Polymer
3.7 Porter's Five Force Analysis
3.8 Supply Chain Analysis
3.9 Reimbursement Scenario
3.10 Patent Scenario
3.11 Funding Scenario
3.12 Market Share Analysis by Major Players
3.13 Orthopaedic Devices Number of Procedures by Region
3.14 Orthopaedic Devices Company Comparison Table by Revenue, Product, Material, and Application
4 Orthopaedic Devices Global Market, by Product
4.1 Introduction
4.2 Knee
4.3 Hip
4.4 Extremities
4.4.1 Upper Extremities
4.4.1.1 Shoulder
4.4.1.2 Other Upper Extremities
4.4.2 Lower Extremities
4.5 Spine
4.5.1 Fusion Devices
4.5.1.1 Cervical Devices
4.5.1.2 Thoracolumbar Devices
4.5.1.3 Interbody Devices
4.5.2 Non-Fusion
4.5.2.1 Artificial Discs
4.5.2.2 Dynamic Stabilization Devices
4.5.2.3 Annulus Repair Devices
4.6 Craniomaxillofacial
4.7 Trauma
4.8 Sports Medicine
4.9 Orthobiologics
4.9.1 Synthetics
4.9.2 Demineralized Bone Matrix
4.9.3 Machined Bone Allograft
4.9.4 Other Orthobiologics
5 Orthopaedic Global Market, by Surgery Type
5.1 Introduction
5.2 Open Surgery
5.3 Minimally Invasive Surgery
5.4 Robotic Assisted Surgery
6 Orthopaedic Devices Global Market, by End-Users
6.1 Introduction
6.2 Hospitals
6.3 Ambulatory Surgical Centers
6.4 Orthopaedic Clinics
7 Regional Analysis
7.1 Introduction
8 Competitive Landscape
8.1 Introduction
8.2 Product Launch
8.3 Product Approval
8.4 Acquisition
8.5 Agreements
8.6 Other Developments
9 Major Companies
9.1 Arthrex Inc
9.1.1 Overview
9.1.2 Financials
9.1.3 Product Portfolio
9.1.4 Key Developments
9.1.5 Business Strategy
9.1.6 SWOT Analysis
9.2 B. Braun Melsungen AG
9.3 Colfax Corporation (Djo, LLC)
9.4 Globus Medical, Inc.
9.5 Johnson & Johnson (Depuy Synthes)
9.6 Medtronic Public Limited Company
9.7 Nuvasive Inc.
9.8 Smith & Nephew plc
9.9 Stryker Corporation
9.10 Zimmer Biomet Holdings, Inc
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