Asia Pacific Orthopedic Device reached a revenue of more than 7 Bn USD in 2018. Will the market continue this growth trajectory in Asia Pacific?:- Ken Research

1. Increasing Sedentary Lifestyle in Asian Countries

Survey Findings for Top Health Concerns of Workers in Asia- Pacific, 2016

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With rising life expectancy, increasingly sedentary lifestyles and surge in incidence of obesity, Asia pacific is witnessing a resultant rise in Orthopedic problems as natural consequence.

In Asia-Pacific Workforce, nine out of 10 workers (85%) spend at least six hours a day sitting at their desk, with five out of 10 eating lunch at their work desk two to five times per week. Indonesia had the highest number of workers eating at their desks with 71% eating lunch at their desk two to five times per week in 2016.

The 2016 survey also revealed that majority of Asia-Pacific's workforce (83%) exercise less than three times per week, with six out of 10 getting less than 30 minutes of physical activity a day at their workplace. This situation is of greater concern in Hong Kong, where 66.0% of the local workforce engages in physical activities once a week or less, with seven out of 10 workers getting less than 30 minutes of physical activity a day thus, a significantly worrying trend in a market that has been recording rising obesity rates in recent years.

2. Increasing geriatric population in the Asia Pacific Region

Geriatric Population and Growth Rate in Major Asian Countries Including Australia, China, India and Japan, 2015-2018

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The proportion of aged people is expected to increase in Asia with Japan and Korea aging faster than other Asian nations. Laos will remain the youngest nation in Asia. In accordance with the Asia pacific News Network, Asia pacific region is on track to have the oldest population in the world in next few decades. Japan has the largest population of elderly people at approximately 27% of the entire globe, as of 2018. It is projected that the elderly population in the country in next decade will grow by 37.3% by the year ending 2030. Korea is growing old faster than any other country. The aging population is projected to grow from 18.5% to 31.4% by 2030. The country for the first time has more elder people than younger people. It reached the cusp of becoming an older society much before its neighbours. Thailand is the third rapidly aging country in Asia. Thailand's population is projected to grow by 26.9% by 2030, which means one out of four Thais will be a senior citizen. As the elderly population grows, need for Orthopedic knee, hip, shoulder, ankle surgery increases.

3. Innovative Products and Procedures in Orthopedic Device Market Due to Increase in R&D Technology

Reduced procedure time seems to be one of the primary requirements from patients as well as healthcare professionals. Growing demand for Orthopedic procedures from geriatric population makes it essential for advanced and highly accurate products. Advanced technology makes these devices simple, user-friendly, and accurate. Rise in R&D and investments in collaborations for enhanced product portfolio can be expected in the near future.

In 2012, Hong Kong acquired the first Robotic Interactive Orthopedic (RIO) system in Asia pacific from MAKO Surgical Corporation (acquired by Stryker Corp.). The RIO system is mainly used for partial knee replacement surgeries, but can potentially be used for hip, ligament, and spinal surgeries as well. The RIO system enables the surgeon to hold and guide the robotic arm during the surgery, rather than operate it remotely on a console. Not only can surgeons perform more difficult surgeries with the RIO system, but also physicians with less experience can perform these surgeries with same ease and convenience.

For more insights on the market intelligence, refer to the link below:-

https://www.kenresearch.com/healthcare/medical-devices/asia-pacific-orthopedic-device-market/303061-91.html

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Ken Research is a Market Research and Consulting Firm, based out of India, Indonesia and UAE. Since 2011, we have been assisting clients globally with our Syndicate and Bespoke Market Research and Advisory Services.

This release was published on openPR.