The Global Orthopedic Devices Market is expected to grow at a CAGR of 5.69% during the forecast period 2017 2023 to aggregate $60.87 billion by 2023
Factors, such as a rise in Orthopedic disorders, increased geriatric population, increased adoption of minimally invasive and roboticsassisted orthosurgical procedures, emergence of 3D printing technology, increased market awareness and campaigns and increase in healthcare spending drives the market growth during the forecast period.
According to Industry Research Place, the adoption of Orthopedic devices and the emergence of 3D printing technology will increase the Global Orthopedic Devices Market growth in the coming years. Hip implants, knee implants, spine implants, trauma fixation devices, extremities, and advanced orthosurgical navigation systems have shown superior efficacy and high success rates in treating various Orthopedic disorders. Cosmetic enhancements have become a common trend in the modern society. Breast implants help to regain and enhance an individuals appearance and maintain the body structure. These factors will increase the adoption of Orthopedic products and fuel the Global Orthopedic Devices Market growth. Despite advances and launch of new innovative products, a significant unmet need still exists in the lowincome countries as they do not have access to basic surgical care. However, the government is taking initiatives to improve the healthcare standards and companies are creating awareness programs to offer effective treatment especially in the emerging markets.
Orthopedic implants are available in different shapes and sizes in the market, and can be further customized as per individual needs. The advancement in orthobiologics has allowed both patients and physicians to use biologics to fill the space and heal the bone with high accuracy and safety. The growing need for imageguided surgical equipment and costeffective technologies, which represent an opportunity in making the complex Orthopedic surgeries easy and more accessible to surgeons, also drive the market growth. The growing demand for roboticassisted MI surgeries for treating various Orthopedic disorders has increased the adoption rates.
Products, such as CORAIL hip system, Kyphon Balloon kyphoplasty, ATTUNE knee system, ARCH ODL spacer, Mako Roboticarm assisted surgery devices, ReUnion RSA, VariAx plating systems, A3 Fusion nail, NeuroMend (biologics), are branded products that have shown best results and are at high demand in the Global Orthopedic Devices Market. According to Industry Research Place, the Global Orthopedic Devices Market is expected to grow at a CAGR of 5.69% during the forecast period 2017 2023 to touch an aggregate of $60.87 billion by 2023.
The Global Orthopedic Devices Market is analyzed based on three segments, namely product types, endusers, and geographical regions. The product type covers spine implants, knee implants, hip implants, sports medicine, trauma fixation devices, upper extremities (shoulder, elbow, wrists, and fingers), lower extremities (foot & ankle devices), and orthobiologics. Spine implants dominated the market with 31% of the total Orthopedic market share followed by knee implants with 17%. The lower extremities segment is the fastest growing segment with a CAGR of 8.5%. High cost, product recalls, and complications and risk associated with different Orthopedic procedures represent the major challenges to the market.
Regions covered in the report Global Orthopedic Devices market are North America, Europe, Asia Pacific, and Rest of the World (ROW). In North America, the US and Canada are set to be the leading countries. Europe is set to be the second leading region as it held more than 23% of the market share in 2016. Germany is one of the leading countries in Europe in terms of revenue followed by France. In Asia Pacific, India and China are the most attractive countries for the players as it holds huge business opportunities. RoW is set to be an emerging market in the next 5 6 years. According to the American Academy of Orthopedic Surgeons estimates, about 90% of the individuals who undergo total knee replacement surgery would experience drastic reduction of knee pain.
?Orthopedic device manufacturers are under pricing pressure and the Global Orthopedic Devices Market is growing at a moderate pace due to the implementation of valuebased pricing scheme for large joint reconstruction procedures. However, factors, such as the rise in prevalence of Orthopedic disorders and the increasing adoption of MI surgeries, will drive the market and maintain a sustainable growth during the forecast period. Further, the emergence of 3D printing, computeraided surgery, and roboticassisted surgeries will boost the market growth with an aim to enhancing precision, accuracy, and improving patient outcome.
Further, the report aims to cover the below points:
Provides an indepth analysis of the key business opportunities in the various countries and verticals
Provides complete details about the various types of Orthopedic devices
Provides complete details of trending top 16 Orthopedic devices
Provides complete details about the analysis of top 15 players
Provides industry outlook including current and future market trends, drivers, restraints, and emerging technologies
This report analyses the global market for Orthopaedic Devices. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
Global Orthopaedic Devices Market COVID-19 impact Analysis
This report highlights the impact of the Covid-19 pandemic on Global Orthopaedic Devices Market. By combining data from a range of industry sources, as well as predictive modeling and market trend analysis, we provide an evidence-based set of projections that will allow organizations to plan their strategies more effectively. The report gives in depth analysis of short term and long term impacts of epidemic on the industry.
The COVID 19 impact assessment of Global Orthopaedic Devices Market is divided into following sections:
Section1: Pre Lockdown
This part of the report looks at how market changed throughout early 2020, as the spread of COVID-19 intensified on different geographies.
Section2: During Lockdown
This part of the report collects data across the sector to know how people have responded to lockdown. It analyses the impact of the epidemic on the workforce in the industry and disruption in various regions and countries
Section3: Post Lockdown
This part of the report project what sector recovery could look like and summarizes ways in which the business landscape could shift.
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Global Orthopaedic Devices Market Table of Contents
Chapter 1: Introduction
Chapter 2: Summary and Highlights
Chapter 3: Market Overview
Chapter 4: Impact of COVID 19
Chapter 5 Global Market for Orthopaedic Devices
Chapter 6: Market Breakdown by Segment
Chapter 7: Market Breakdown by Region
Chapter 8: Industry Trends
Chapter 9: Company Profiles
Chapter 10: Appendix
An overview of the Global Orthopaedic Devices Market
In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
Global Orthopaedic Devices Market revenue data historic and forecast analysis (2015 to 2026)
Characterization and quantification of the market segments for Orthopaedic Devices Market
Market share analysis of key market participants and their competitive landscape
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Important Questions Answered by Global Orthopaedic Devices Market Report
What is the impact of COVID 19 epidemic on the Global Orthopaedic Devices Market?
Which is mostly affected region, country?
Which is the current largest and fastest-growing region?
What is the market size and growth rate of the Global Orthopaedic Devices Market?
What are current factors affecting the growth of market?
What are Key trends and opportunity areas?
Within Orthopaedic Devices Market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
What are the major strategies adopted by leading market companies?
What are company challenges and essential success factors by market segment?
How company offerings and supply chain capabilities are shifting to meet emerging market needs?
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