Orthopedic Devices Market report is prepared on the bases of in-depth market analysis with inputs from key market players and industry experts. It covers several significant aspects, such as market trends, key vendors, growth drivers, obstacles, competitive landscape, regional analysis, and challenges.
The global Orthopedic Devices Market Sizeis set to gain traction from the ever-increasing geriatric population across the world. As per a research published in 2015 by the United Health Foundation, every year, more than 300,000 adults belonging to the age group of 65 years and above are estimated to be hospitalized for hip fractures. Besides, around 30% of seniors fall per year. It is further leading to higher number of orthopedic injuries. Fortune Business Insights™ published this information in a recent study, titled, “Orthopedic Devices Market Size, Share and Industry 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 Surgical 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, thereby exhibiting a CAGR of 4.3% during the forecast period.
Leading Players operating in the Orthopedic Devices Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Smith and Nephew
- Zimmer Biomet
- Medical Devices Business Services, Inc. (Johnson and Johnson)
- NuVasive, Inc.
- Integra LifeSciences
- Wright Medical Group N.V.
- Össur Corporate
- Globus Medical
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Drivers and Restraints-
Rising Prevalence of Musculoskeletal Diseases to Drive Growth
The American Academy of Orthopedic Surgeons, a provider of educational programs for allied health professionals and orthopaedic surgeons, published a report that affirms that every year in the Unites States alone, approximately 6.8 million patients suffering from several orthopedic injuries come to medical attention. It proves that the rising prevalence of orthopedic injuries and musculoskeletal diseases is further resulting in agonizing physical pain and limited mobility. It is expected to propel the orthopedic devices market growth during the forthcoming years. However, the surgical procedure is very expensive in nature. It may hamper the growth of the market.
Increasing Number of Company 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. Accounting to the increasing number or orthopedic surgical procedures across the world, there has been an increase in the demand for the product. This has resulted in a healthy market competition. As a result, companies are looking to adopt strategies such as collaborations and mergers with other businesses in this sector, with the aim of establishing a strong brand presence. In September 2019, Medical Devices Business Services, Inc. announced that it has signed an agreement with JointPoint Inc. for its takeover. Through this the company will gain access to the latter’s exceptional portfolio of surgical software. Increasing number of such large scale acquisitions will emerge in favor of market growth.
Joint Reconstruction Segment to Lead Backed by Increasing Number of Surgical Procedures
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. Out of these, in 2018, the joint reconstruction segment held 35.8% in terms of orthopedic devices market share and is anticipated to lead the market throughout the forecast period. This growth is attributable to the rising number of procedures, namely, extrementies and shoulder reconstructions, hip and knee replacements, and other similar procedures associated with joints. The arthroscopy devices segment is likely to expand at fast pace owing to the increasing emergence of novel products and upsurging cases of soft tissue injuries related to sports.
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Detailed Table of Content:
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
- Executive Summary
- Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
- Key Insights
4.1 Prevalence of Orthopedic Diseases by Key Countries/Region
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/Region
- Global Orthopedic Devices Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast By Type
5.2.1 Joint Reconstruction Devices
5.2.2 Spinal Devices
126.96.36.199 Spinal Fusion Devices
188.8.131.52 Spinal Non- Fusion Devices
5.2.3 Trauma Devices
5.2.4 Arthroscopy Devices
5.2.5 Orthobiologic Devices
5.2.6 Dental Implants
184.108.40.206 Endosteal Implants
220.127.116.11 Superperiosteal Implants
18.104.22.168 Transosteal Implants
5.3. Market Analysis, Insights and Forecast By End User
5.3.2 Orthopedic Clinic
5.3.3 Ambulatory Surgical Centers
5.4. Market Analysis, Insights and Forecast By Region
5.4.1 North America
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
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- Customer research services
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- Value chain analysis
- Potential Orthopedic Devices Market opportunities
- Growth dynamics
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Reasons to Purchase this Report:
- Comprehensive analysis of the Orthopedic Devices Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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