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.
Full
Research Report On Orthopedic Devices Market Analysis:
https://www.grandviewresearch.com/industry-analysis/orthopedic-devices-market
https://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.
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Of This Category By Grand View Research At: https://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 Full Press Release of this Report: https://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: https://www.grandviewresearch.com/
