Global orthopedic extension devices market is to show CAGR 4% in 2027


Posted July 28, 2020 by adwaitcoherent

: US$ 837.4 million in 2020, Global orthopedic extension devices market is to grow US$ 837.4 in 2027

 
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Description:
Orthopedic extension devices are developed for patient safety and outcomes during surgical procedures. It eases the workflow of the healthcare staff as they don’t need to hold the patient’s legs during the surgery. The devices are independent and can be used as an accessory with the operating tables. These are used in performing surgical procedures such as hip surgery, knee surgery, arm surgery, and other orthopedic surgery.

The global orthopedic extension devices market is estimated to be valued at US$ 837.4 million in 2020 and is expected to exhibit a CAGR of 4.0% over the forecast period (2020-2027).
The increasing cases of injuries and trauma that require surgical procedures are expected to boost the growth of the orthopedic extension devices market

The rising cases of trauma and injuries are expected to drive demand for surgical procedures and boost the growth of the orthopedic extension devices market. For instance, according to World Health Organization’s factsheet of 2018, road accidents cause around 20 to 50 million injuries every year around the world. Road traffic injuries are the leading cause of death among people in the age group of 15 and 29 years, and more than 1.25 million people die each year as a result of road traffic crashes.

The rising number of product launches by market players is expected to bolster the orthopedic extension devices market growth during the forecast period. For instance, in October 2017, Mizuho OSI, introduced the new Levó Head Positioning System for spine procedures at the North American Spine Society 2017, annual meeting held in Florida, U.S.
Orthopedic Extension Devices Market - Regional Analysis

North America held the dominant position in the global orthopedic extension devices market in 2018 owing to the increasing number of surgical procedures and product launches. For instance, according to the Organisation for Economic Co-operation and Development (OECD) stats, the total hip replacement procedures in Canada were around 55,720 and 58,241 in 2016 and 2017 respectively.

Moreover, the increasing number of falls, injuries, road accidents, in addition to facility expansions by key players are expected to drive growth of the orthopedic extension devices market in Asia Pacific during the forecast period. For instance, in February 2020, Smith & Nephew, announced the construction of a manufacturing facility at Batu Kawan Industrial Park, in Penang, Malaysia. It is the company’s first manufacturing facility in South-East Asia which will be supporting orthopedics franchise and medical device manufacturing.

Key Players

Major players operating in the global orthopedic extension devices market are Allen Medical Systems Inc., Alliance Impex, Condor Medicaltechnik, DRE Medical, ImplanTec, IOT- Innovative Orthopedic Technologies, Mediland Enterprise, Merivaara, MIKAI, Mizuho OSI, NUOVA BN, OPT SurgiSystems, Schaerer Medical, Schmitz u. Soehne, Skytron, Smith & Nephew, St. Francis Medical Equipment, TECHNOMED INDIA, and TRUMPF Medizin Systeme GmBH.
Key Takeaways of the Orthopedic Extension Devices Market:

The global orthopedic extension devices market is expected to exhibit a CAGR of 4.0% during the forecast period owing to the increasing number of bone fractures, injuries leading to the surgical procedures. For instance, according to World Health Organization (WHO) factsheet of 2018, each year there are around 37.3 million falls which require medical attention and an estimated 646,000 individuals die from falls every year across the globe.
Among end users, the hospital segment is expected to hold the largest market share due to the increasing prevalence of fractures and orthopedic disorders leading to surgical procedures.
Key players operating in the global orthopedic extension devices market are Allen Medical Systems Inc., Alliance Impex, Condor Medicaltechnik, DRE Medical, ImplanTec, IOT- Innovative Orthopedic Technologies, Mediland Enterprise, Merivaara, MIKAI, Mizuho OSI, NUOVA BN, OPT SurgiSystems, Schaerer Medical, Schmitz u. Soehne, Skytron, Smith & Nephew, St. Francis Medical Equipment, TECHNOMED INDIA, and TRUMPF Medizin Systeme GmBH.
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Last Updated July 28, 2020