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Orthopedic Devices Market 2024 Global Analysis of Key Players – Medtronic, Stryker, Zimmer Biomet, ConforMIS, DJO Global, MicroPort Scientific Corporation, NuVasive, Medacta, Globus Medical, Smith & Nephew, and DePuy Synthes

08-17-2018 11:07 AM CET | Health & Medicine

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Orthopedic Devices Industry, Orthopedic Devices Market share, Orthopedic Devices Sales

Orthopedic Devices Industry, Orthopedic Devices Market share, Orthopedic Devices Sales

This global Orthopedic Devices market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Orthopedic Devices Market size is set to exceed USD 53 billion by 2024; according to a new research report.

Global orthopedic devices market will witness a growing demand in the ensuing years with the rise in the geriatric population and the increasing desire among people of all ages to remain functional despite suffering from perpetually debilitating bone disorders. Growing geriatric population coupled with increasing prevalence of arthritis and osteoporosis will stimulate the global orthopedic devices market growth. Poor diet intake, lack of physical activity, and changing lifestyle trends should further fuel demand.

Rising number of road accidents coupled with increasing instances of sports injuries will spur orthopedic implants and devices demand. Growing trend towards adoption of minimally invasive surgical procedures and use of innovative biodegradable implants for medical treatment will fuel business growth.

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Some of the companies operating in the orthopedic devices market include Medtronic, Stryker, Zimmer Biomet, ConforMIS, DJO Global, MicroPort Scientific Corporation, NuVasive, Medacta, Globus Medical, Smith & Nephew, and DePuy Synthes. The industry is primarily driven by strategic acquisitions coupled with new product launches and geographical expansion. Industry participants strive to retain their market position in high profitable areas and high growth verticals by adoption these strategies.

Advances in osteology to develop cost effective devices along with technological innovation in robot assisted surgical interventions, implants and 3D printing will boost the orthopedic devices market size over the forecast years. Emerging countries should offer lucrative growth opportunities due to increasing elderly population, rising prevalence of bone disorders and adoption of novel technologies over coming years.

Inflated surgery and devices cost, lack of skilled human resource and presence of non-uniform reimbursement scenario across different regions should restrain industry growth. Low per capita income levels in developing countries and lack of awareness will further limit business expansion.

The joint reconstruction devices industry has gained popularity due to growing unmet need for better and effective solutions for bone related ailments. Technological advances in implants and minimally invasive implant techniques will promote business growth.

Trauma fixation devices should witness lucrative growth due to rising geriatric population susceptible to bone disorders and growing instances of road accidents, leading to bone fractures and spinal injuries. However, high devices cost and expensive nature of surgeries may hamper industry growth over forecast years.

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Orthobiologics is set to exceed USD 4 billion by 2024, owing to its rising demand among surgeons as a bone grafts and substitutes. Growing geriatric population, increasing prevalence of musculoskeletal disorders, changing lifestyle and availability of innovative products will trigger industry growth.

U.S. orthopedic devices market was valued at over USD 20 billion in 2016 and is anticipated to witness significant growth over the coming years. Rising prevalence of osteoporosis, osteoarthritis, and musculoskeletal disorders, growing geriatric population, adoption of advanced technologies and presence of sophisticated healthcare infrastructure should boost orthopedic devices industry growth.

UK orthopedic devices market accounted for more than 15% of Europe revenue share, owing to huge geriatric population base and rising prevalence of bone diseases. Increasing economic burden of fractures and other bone related ailments should accelerate growth.

Japan orthopedic devices market held over 40% of regional revenue share with the target market size set to exceed USD 2 billion by 2024. Rapidly growing geriatric population base and increasing incidence of spine disorders and bone injuries should stimulate business growth. Adoption of advanced technologies and growing patient awareness will also propel industry growth.

Mexico orthopedic devices market size was valued over USD 300 million in 2016. Increasing prevalence of osteoporosis, growing number of accidents, increasing economic burden of bone ailments, and improvement in healthcare infrastructure should stimulate industry growth.

The World Health Organization estimates that by 2050 over 2 billion people around the world will be aged over 60 years, gradually manifesting the beginning of bone weaknesses and diseases. In consequence, this would lead to a significant surge in orthopedic devices market share in the forthcoming years. While the masses look to leading more active lives, athletes have specifically emerged has major contributors toward this industry, given the higher incidence of sport injuries that require advanced device implants for athletes to get back in action.

Outside of the scope rising interest in being active, eating disorders are also on the rise, and the combination of a poor lifestyle coupled with problems like obesity has led to a significant section of the global population carrying too much weight. The wear and tear and the extra weight has led to a high incidence of joint damage, arthritis, and other bone-related disorders. For instance, current estimations in the U.S. show that osteoporosis and low bone mass has become a major concern in the country as nearly 44 million men and women under the age of 50 are afflicted with such disorders and the figure is expected to exceed 61 million by 2020. Estimates also point out that by 2020, annual orthopedic surgeries are expected to reach 6.6 million, clearly indicating a commendable growth for the orthopedic devices market.

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Orthopedic devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

Orthopedic Devices Market By Product

Joint Reconstruction

Hip Replacement

Knee Replacement

Ankle Replacement

Shoulder Replacement

Spinal Devices

Trauma Fixation Devices

Orthobiologics

Arthroscopic Devices

Others

Table of content:

Chapter 3. Orthopedic Devices Industry Insights       

3.1 Industry segmentation   

3.2 Industry size & forecast, 2013 - 2024      

3.3 Industry ecosystem analysis

3.3.1 Distribution channel analysis       

3.4 Industry impact forces   

3.4.1 Growth Drivers    

3.4.1.1 Growing geriatric population base

3.4.1.2 Rising incidence of orthopedic diseases

3.4.1.3 Technological advances and product innovation

3.4.1.4 Soaring orthopedic surgery rates in developed regions

3.4.2 Industry pitfalls & challenges       

3.4.2.1 Product recalls

3.4.2.2 High orthopedic devices cost

3.4.2.3 Prohibitive cost of orthopedic surgeries

3.4.2.4 Stringent FDA regulation and biocompatibility issues

3.4.2.5 Post-surgery complications

3.5 Growth potential analysis

3.5.1 By Product

3.6 Epidemiology analysis

3.6.1 U. S

3.6.2 Europe   

3.7 Regulatory landscape   

3.7.1 U.S.       

3.7.2 Europe   

3.8 Reimbursement scenario

3.8.1 U. S

3.8.2 Europe

3.9  Porter's analysis

3.10 PESTEL analysis        

3.11 Company market share analysis, 2016

3.11.1. Business overview

3.11.2. Revenue analysis

3.11.3. Product landscape

3.11.4. Strategy dashboard

For details about this report: https://www.marketstudyreport.com/reports/orthopedic-devices-market

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