Orthopedic Devices Market, is forecast to reach a value of US$ 60,052.8 Mn by 2027 at a CAGR of 5.0% between 2020 and 2027


Posted July 14, 2020 by ShrutiCMI

Increase in incidence of orthopedic injuries or diseases such as osteoporosis, traumatic fractures, osteoarthritis, and rheumatoid arthritis along with surge in aging population worldwide drive the global orthopedic devices market.

 
Key Trends:
Key trends in the market include the increasing surgeries like implants, Trauma fixation are basically medical device used to replace the damaged or misplaced bone in order to improve the function of skeleton and reduce pain due to problems associated with injury/defect.
As the coronavirus(COVID-19) spreads its wings, some of the medical procedures have been delayed by hospitals.Besides patients have postponed their surgeries to prevent probability of infection.So, the orthopedic device demand would experience downfall.
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Increasing prevalence of obesity is the key reason to grow Orthopedic Devices market.According to R&D reported obesity in 42% of the population due low physical activity levels and unhealthy dietary habits.

Key Market Takeaways:
•Based on geography,orthopedic devices market is divided into North America, Europe, AsiaPacific and Rest of the world. A matured region such as North America ordered with the largest market revenue.Moreover,Asia-pacific regions are also expected to grow at the highest CAGR during the forecast period due to increased healthcare awareness,improved economic growth and increasing cases.

•High investments in healthcare infrastructures and demand for quality services drive in the market growth in this region.North America held dominant position in the global orthopedic devices market in 2019, accounting for 39.4% share in terms of value, followed by Europe and Asia Pacific, respectively

Key players operating in market are:
- Depuy Synthes (Johnson & Johnson)
- Smith & Nephew, Plc.
- Stryker Corporation
- Integra Lifesciences Corporation
- Medtronic, Plc.
- Djo Global, Inc.
- Globus Medical
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Market Segmentation:
Product Type:Hip Orthopedic Devices, Knee Orthopedic Devices, Spine Orthopedic Devices, Shoulder Orthopedic Devices, Elbow Orthopedic Devices,Foot and Ankle Orthopedic Devices, CMF Orthopedic Devices,Others
By Surgery indication:Total Knee Replacement,Total Hip Replacement,Total Shoulder Replacement,Arthroscopic Surgery,Spine Surgery,Ankle Replacement
Geographical area covered:North America,Latin America,Europe,Asia Pacific,Middle East,Africa
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Last Updated July 14, 2020