Global Orthopedic Device Market 2018-2022 with DePuy Synthes, DJO Global, Medtronic, Strykar, Smith & Nephew & Zimmer Biomet Dominating the $44 Billion Market

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Jan 03, 2018, 06:00 ET

DUBLIN, Jan. 3, 2018 /PRNewswire/ --

The "Global Orthopedic Device Market 2018-2022" report has been added to Research and Markets' offering.

The global orthopedic device market will register a revenue of more than USD 44 billion by 2022.

Global Orthopedic Device Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

According to the report, one driver in the market is continuous advancements in technology. Orthopedic devices have been witnessing a drastic advancement in past three decades through product innovation. The rapid advancement in technology was due to the extensive R&D activities led by the key manufacturers and thereby contributing largely toward the market growth. The key advancement witnessed recently are robotic-assisted smart surgery for hip, knee, shoulder, and spine-related implants. Apart from these, surgeons emphasis more on MIS owing to the high accuracy, precision, and better patient outcomes. The MIS for orthopedic implants has reduced the total cost and minimized the time for recovery.

A large number of key orthopedic implants manufacturers are increasingly focusing on research and developmental activities, which has resulted in the introduction of innovative products and advancements in orthopedic devices. The recent major advancements involve the development of robotic-assisted smart surgery for the spine, knee, shoulder, and hip-related implants. Several specialists and surgeons are recommending the adoption of minimally invasive (MI) surgery since these surgeries are highly accurate, precise, and result in enhanced patient outputs.

One trend in the market is M&A deals. Although key players such as DePuy Synthes, Zimmer Biomet, Strykar, Smith & Nephew, and Medtronic are having a significant presence in the market, thry are facing tough competition from other emerging players and affecting the organic growth of these companies. Owing to these reasons players such asDePuy Synthes, Strykar, and Zimmer Biomet are changing their market strategies and focused on M&As to increase their presence in the market.

Further, the report states that one challenge in the market is rising product recalls. Orthopedic devices are susceptible to manufacturing errors. Regulatory agencies evaluate all medical devices for potential risk by conducting health hazard evaluation. With respect to this, many orthopedic devices and implants have been recalled from the market due to their risk factor.

Between 2002 and 2013, consumer's union reported 578 recalls alone from six key global key players of the global orthopedic devices market. The biggest recall was reported by the Stryker with 231 recalls and followed by DuPuy Synthes with 150 recalls. By the time the adversities of the recall were noticed, tens of thousands of people have already received the problematic devices.

Key vendors

DePuy Synthes
DJO Global
Medtronic
Strykar
Smith & Nephew
Zimmer Biomet

Other prominent vendors

4WEB Medical
Acumed
Advanced orthopaedics
Aesculap Implant Systems
AlloSource
Alphatec Spine
AMEDICA
Anika Therapeutics
Arthrex
Bioventus
Bone therapeutics
camber Spine technologies
ConforMIS
CONMED
Exactech
Flower orthopedics, Graftys
Hip Innovation Technology
Integra LifeSciences
Intelligent Implant Systems
Internal Fixation Systems
ISTO Biologics
K2M
Keramat
LDR Holding
Medartis
MicroPort Scientific
Nextremity Solutions
NovaBone
NuTech Medical
Spinal Analytics & Geometrical Implant
Tyber Medical
Vilex
Virak Orthopedics
XTANT Medical

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation By Application

Part 09: Market Segmentation By Product

Part 10: Customer Landscape

Part 11: Market Segmentation By End-Users

Part 12: Regional Landscape

Part 13: Decision Framework

Part 14: Drivers And Challenges

Part 15: Market Trends

Part 16: Vendor Landscape

Part 17: Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/jvw8jz/global_orthopedic?w=5

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