The global orthopedic
devices market size
is expected to reach USD 43.1 billion by 2024, according to a study by Grand
View Research, Inc. It is anticipated to expand at a CAGR of 4.4% over the
forecast period. Major market drivers include rising demand for orthopedic
surgeries owing to rise in road accidents and high prevalence of orthopedic
ailments.
Growth in geriatric population prone to
orthopedic conditions is primarily pushing demand for orthopedic solutions
globally. Effects of aging, such as diminishing bone density and weakening
bones due to excessive loss of bone mass, make their presence felt from 35
years of age and become more prominent after 55 years.
High adoption of minimally invasive
surgeries and increasing number of sport-related injuries and road accidents
are expected to fuel demand for orthopedic devices during the forecast period.
Arthroscopy, minimally invasive total joint replacement, and spine surgeries
are some of the newly adopted minimally invasive surgeries driving the market.
On the down side, stringent regulatory approval procedures are key factors
restraining market growth. In addition, high cost of these devices and surgical
procedures threaten the growth of the market.
Access Research Report
of Orthopedic Devices Market@: www.grandviewresearch.com/industry-analysis/orthopedic-devices-market
Further
key findings from the study suggest:
· The knee surgery segment captured the
largest revenue share in 2016 accredited to rising knee surgeries, ranging from
common knee injuries to total knee replacements
· The hip surgery segment captured second
largest revenue share in 2016, fueled by availability of a wide range of
treatment products
· North America is expected to maintain its
dominance throughout the forecast period. Presence of a large number of major
players and high adoption of advanced technologies are regional growth drivers
· Asia Pacific is expected to exhibit a
lucrative CAGR during the forecast period. Presence of untapped opportunities,
coupled with supportive government regulations, is expected to attract global
players
· Some of the major market players are
NuVasive, Inc.; Medtronic PLC; Zimmer-Biomet Holdings; DePuy Synthes Companies;
Stryker Corporation; Aesculap Implant Systems, Inc.; Donjoy, Inc.; and Conmed
Corporation.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the
global orthopedic devices market on the basis of application, product, and region:
Orthopedic Devices Application Outlook
(Revenue, USD Million, 2014 - 2024)
·
Hip Orthopedic Devices
·
Knee Orthopedic Devices
·
Spine Orthopedic Devices
·
Craniomaxillofacial Orthopedic Devices
·
Dental Orthopedic Devices
·
Sports Injuries, Extremities and Trauma
(SET) Orthopedic Devices
Orthopedic Devices Product Outlook
(Revenue, USD Million, 2014 - 2024)
·
Accessories
o
Braces
o
Consumables
o
Others
·
Surgical Devices
o
Drill Guide
o
Guide Tubes
o
Implant Holder
o
Custom Clamps
o
Distracters
o
Screw Drivers
o
Others
Orthopedic Devices Regional Outlook
(Revenue, USD Million, 2014 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
Japan
o
China
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
South Africa
Access Press Release of
Orthopedic Devices Market@: www.grandviewresearch.com/press-release/global-orthopedic-devices-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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