Orthopedic Devices Market Size, Industry Share, Segmentation, Growth and Opportunity Forecast to 2028
The Orthopedic Devices market report is prepared based on an in-depth market analysis with inputs from key market players and industry experts. It covers several important aspects, such as market trends, major vendors, growth drivers, barriers, competitive landscape, regional analysis, and challenges.
The size of the global orthopedic devices market is poised to gain momentum owing to the steadily increasing geriatric population across the globe. According to a study published in 2015 by the United Health Foundation, every year more than 300,000 adults in the age group of 65 and over are hospitalized for hip fractures. In addition, about 30% of seniors fall each year. This further leads to a higher number of orthopedic injuries. Fortune Business Insights™ released this information in a recent study titled, “Orthopedic Devices Market Size, Industry Share, and Analysis, By Type (Joint Reconstruction Devices, Spinal Devices, Trauma Devices, Dental Implants, Orthobiologic Devices, arthroscopy devices and others), by end user (hospitals, orthopedic clinic, ambulatory surgery centers and others) and regional forecast, 2019-2026. The study further mentions that the Orthopedic Devices market size stood at USD 51.33 Billion in 2018 and is projected to reach USD 71.67 Billion by 2026, growing at a CAGR of 4.3% during of the forecast period.
The major players operating in the orthopedic devices market are:
Major players are involved in mergers and acquisitions to strengthen their position in the market. Due to increasing competition, frequent innovations take place in the market. Some of the companies operating the industry are:
- Smith and nephew
- Zimmer Biomet
- Medical Device Company Services, Inc. (Johnson and Johnson)
- NuVasive, Inc.
- Integra LifeSciences
- Wright Medical Group S.A.
- Ossur Company
- Globus Medical
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Drivers and Constraints-
Increased prevalence of musculoskeletal diseases to stimulate growth
The American Academy of Orthopedic Surgeons, a provider of educational programs for allied health professionals and orthopedic surgeons, released a report that claims that each year in the United States alone, approximately 6.8 million patients with multiple orthopedic injuries seek medical attention. doctor. This proves that the increasing prevalence of orthopedic injuries and musculoskeletal diseases further leads to excruciating physical pain and limited mobility. It is expected to propel the growth of the orthopedic devices market over the coming years. However, the surgical intervention is very costly in nature. This can hamper the growth of the market.
An increasing number of corporate mergers will emerge in favor of market growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Considering the increasing number of orthopedic surgeries across the world, the demand for the product has increased. This has resulted in healthy competition in the marketplace. As a result, companies seek to adopt strategies such as collaborations and mergers with other companies in this industry, in an effort to establish a strong brand presence. In September 2019, Medical Devices Business Services, Inc. announced that it had signed an agreement with JointPoint Inc. for its acquisition. Through this, the company will have access to the latter’s outstanding surgical software portfolio. An increasing number of such large-scale acquisitions will emerge in favor of market growth.
Directed joint reconstruction segment supported by an increasing number of surgeries
Based on type, the market is grouped into joint reconstruction devices, dental implants, trauma devices, spinal devices, orthobiologic devices, arthroscopy devices, trauma devices, and others. Among these, in 2018, the joint reconstruction segment held 35.8% in terms of orthopedic devices market share and is expected to dominate the market throughout the forecast period. This growth is attributable to the increasing number of procedures, namely extremity and shoulder reconstructions, hip and knee replacements and other similar joint-related procedures. The arthroscopy devices segment is expected to grow rapidly owing to the increasing emergence of new products and the rise in cases of sports-related soft tissue injuries.
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Detailed Table of Contents:
1.1. Search scope
1.2. Market segmentation
1.3. Research Methodology
1.4. Definitions and assumptions
- Market dynamics
3.1. Market factors
3.2. Market constraints
3.3. Market opportunities
- key ideas
4.1 Prevalence of Orthopedic Diseases by Key Countries/Regions
4.2 Key Industry Developments Mergers, Acquisitions, Partnerships and New Product Launch
4.3 Overview of new product launches
4.4 Regulatory and Reimbursement Scenario by Key Countries/Regions
- Global Orthopedic Devices Market Analysis, Outlook and Forecast, 2015-2026
5.1. Main results/summary
5.2. Market Analysis, Outlook and Forecasts By type
5.2.1 Joint reconstruction devices
5.2.2 Vertebral apparatus
126.96.36.199 Spinal fusion devices
188.8.131.52 Spinal devices without fusion
5.2.3 Trauma devices
5.2.4 Arthroscopy devices
5.2.5 Orthobiological devices
5.2.6 Dental implants
184.108.40.206 Endosseous implants
220.127.116.11 Superperiosteal implants
18.104.22.168 Transosseous implants
5.3. Market Analysis, Outlook and Forecasts Per end user
5.3.2 Orthopedic Clinic
5.3.3 Ambulatory surgery centers
5.4. Market Analysis, Outlook and Forecasts By region
5.4.1 North America
5.4.4 Latin America
5.4.5 Middle East and Africa
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Purpose of the report:
- Extensive product offerings
- Customer research service
- Robust research methodology
- Full reports
- Latest technological developments
- Value chain analysis
- Potential opportunities in the orthopedic devices market
- Growth dynamics
- Quality assurance
- After-sales support
- Regular report updates
Reasons to buy this report:
- Comprehensive analysis of the Orthopedic Devices Market growth drivers, barriers, opportunities, and other related challenges.
- Tracks developments, such as new product launches, agreements, mergers and acquisitions, geographic expansions and joint ventures.
- Identifies market constraints and drivers.
- Identifies all possible segments present in the market to help organizations plan their strategic activities.
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