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.
Browse full research report on 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.
Browse more reports of this category
by Grand View Research: 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
- Braces
- Consumables
- Others
- Surgical
Devices
- Drill Guide
- Guide Tubes
- Implant
Holder
- Custom
Clamps
- Distracters
- Screw
Drivers
- Others
Orthopedic
Devices Regional Outlook (Revenue, USD Million, 2014 - 2024)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
- South Africa
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
No comments:
Post a Comment