Orthopedic Devices Market Identifies the Key Drivers of Growth, Demand and Challenges of the Key Industry Players
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In orthopedic devices, generally metal alloys are used due to their properties such as rigidity, fracture toughness, corrosion resistance, long fatigue life, stiffness, and biocompatibility. Whereas, polymers are used as articulating surfaces of joint replacements and as a cementing material between implant surfaces and bone. Polyether ether ketone (PEEK) implants are generally used for spinal implants as it has advantages such as high mechanical strength.
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Orthopedic devices are surgically implanted or externally attached through simple persistent procedures. The devices are categorized as joint implants, internal fixation and external fixation devices. The orthopedic devices are used for various anatomical locations such as hip, knee, shoulder, spinal, elbow, foot and ankle orthopedic devices. Further, the orthopedic devices market can be categorized as knee orthopedic joint implants, knee orthopedic internal fixation devices, knee orthopedic external fixation devices, elbow orthopedic joint implants, elbow orthopedic internal fixation devices, elbow orthopedic external fixation devices, spinal orthopedic joint implants, spinal orthopedic internal fixation devices, shoulder orthopedic joint implants, shoulder orthopedic internal fixation devices and shoulder orthopedic external fixation devices.
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In Asia-Pacific, demand for minimally invasive surgeries and anatomy specific implants are one of the major opportunities for the orthopedic devices market. Some of the factors driving the growth of orthopedic devices market are rise in geriatric population and obesity, prevalence of osteoporosis and osteoarthritis, and road and sports injuries. Emerging technologies such as bio-absorbable implants and minimal invasive procedures are also supporting the orthopedic devices market to grow at a significant rate. Whereas, continuous product recalls, economic crises, generic orthopedic products and political reforms are some of the factors creating hindrances in the overall growth of orthopedic devices market.
Some of the major companies operating in the orthopedic devices market are Zimmer Holdings Inc., Medtronic Inc., Wright Medical Technology Inc., Orthofix Holdings Inc., NuVasive Inc., TriMed Inc., Stryker Corporation, Smith & Nephew PLC, Small Bone Innovations Inc., Solana Surgical LLC, DePuy Synthes Inc. Integra LifeSciences, Aesculap, Inc., and ArthroCare Corporation.
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