Orthopaedic Devices Market Insights, Trends, and Key Players 2024-2031

Report Overview
Orthopaedic Devices Market is expected to grow at a CAGR of 5.3% during the forecast period 2024-2031

Orthopedic devices serve various functions, including replacing missing joints or bones and providing support to damaged bones. These devices are typically constructed using strong materials such as titanium alloys and stainless steel to ensure durability. Additionally, plastic coatings are often used to mimic the function of natural cartilage.

Internal fixation is a common surgical procedure in orthopedics that involves the insertion of implants to repair damaged bones. These implants, which may include screws, plates, rods, or nails, are used to stabilize fractured bones and promote proper healing. Internal fixation techniques help restore the structural integrity of the bone and facilitate the recovery process for patients with orthopedic injuries or conditions.

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Industry Dynamics

The orthopedic devices market is poised for growth, driven by an increasing number of large joint reconstruction surgeries, particularly total knee and hip replacements. This trend is primarily attributed to the rising elderly population, as joint replacement surgeries are commonly performed to address age-related musculoskeletal issues and osteoporosis-related fractures.

According to a report by Arthritis Research UK titled "The State of Musculoskeletal Health 2018," an estimated 17.8 million people in the United Kingdom were living with musculoskeletal conditions, representing approximately 28.9% of the total population. These statistics underscore the increasing prevalence of orthopedic conditions and the subsequent demand for orthopedic implants.

Furthermore, the pattern and prevalence of orthopedic problems vary regionally due to environmental, racial, and geographic factors. For example, the World Health Organization (WHO) reported excessive musculoskeletal conditions in the East Mediterranean and African regions in 2017.

Continuous technological advancements in orthopedic devices, along with innovations in design and efficiency, have enhanced the usability and convenience of these devices in the industry. These advancements contribute to the increasing adoption of orthopedic implants and devices worldwide, further driving market growth in the forecast period.

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Industry Segmentation

By Device Type
Hip Orthopedic Devices
Joint Reconstruction
Knee Orthopedic Devices
Spine Orthopedic Devices
Trauma Fixation Devices
Dental Orthopedic Devices
Other

By Fixation Type
Internal
External
Intramedullary fixation devices
Others

By End User
Orthopaedic Clinics
Hospitals


Industry Key Players
Major players are B. Braun Melsungen AG, AGIS Network Inc., Amedica Corp., Arthrex Inc., Boston Scientific Corporation, Integra LifeSciences Corporation, Johnson & Johnson, Medtronic PLC, Smith & Nephew PLC, Stryker Corporation.

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