Global Orthopedic Devices Market Insights:
The global orthopedic devices market is poised to grow moderately at a CAGR of 4.0% during the forecast period (2020-2026). This growth trajectory is attributed to the prevalence of a wide range of orthopedic disorders such as osteoarthritis, rheumatoid arthritis, fibromyalgia and juvenile arthritis. This is attributed to the prevalence of an aging population, lifestyle changes and obesity.
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Increase in incidence rates of injuries related to accidents, sports and adventure activities is also anticipated to burgeon market prospects for orthopedic devices in the forecast period. Increase in the number of injuries and accidents have led to bone disorders such as joint pains, joint instability, bone loss and infection. The American Academy of Orthopedic Surgeons (AAOS) revealed that nearly a quarter of sports injuries were related to lower extremities such as foot and ankle.
Global Orthopedic Devices Market: Technological Insights:
Globally, there has been a surge in the adoption of technologically enhanced orthopedic devices in recent years. A large number of global manufacturers with technical expertise and core competencies are making consistent efforts to manufacture novel orthopedic products to attract more customers. Some examples of these are orthopedic medical devices and orthopedic fixation devices. Improved biomaterial based implants offering high strength and low wear are witnessing an exponential increase in demand across developed and developing nations.
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Some key technological advancements in orthopedic devices include titanium fiber plates, stemless shoulder implants, 3D- printing and minimally invasive surgeries. These advancements are based on affordability, ease of utility and novelty. Several major manufactures have been collaborating with emerging market entrants with novel pipeline products in their portfolio. In 2017, Johnson and Johnson collaborated with Aspect Biosystems, a company engaged in 3D-bioprinting and tissue engineering to launch new and advanced orthopedic devices.
Global Orthopedic Devices Market: Product Insights:
The joint reconstruction segment is anticipated to capture a majority of the global orthopedic devices market share, amounting to nearly 1/3rd. The spinal devices segment is not far behind, capturing exactly a quarter of the global orthopedic devices market throughout the forecast period.
The presence of a large patient pool requiring knee, elbow and shoulder replacement surgeries and growing investment in research and development by key market players are important growth levers for the joint reconstruction segment. Growth in the spinal devices segment is attributed to an increase in minimally invasive and interbody fusion procedures, surge in usage of synthetic cages and addition of pedicle screws as fixation devices.
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The Orthopedic Devices Market research answers important questions, including the following:
- Why Orthopedic Devices Market players are focusing on the business expansion in region?
- Which regulatory authorities have granted approval to the application of Orthopedic Devices Market
- What are the pros and cons of the Orthopedic Devices Market the environment?
- Why players are targeting the production of segment?
- What are the strategies implemented by emerging players in the global Orthopedic Devices Market?
The Orthopedic Devices Market report serves the readers with the following data:
- In-depth analysis of supply-side and demand-side trends.
- Direct and indirect impacts of the growth of relevant markets on the Orthopedic Devices
- Importance of segment in various regions.
- Accurate Y-o-Y growth of the global Orthopedic Devices
- Consumption trends among individuals across the globe.
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