Orthopedic Devices Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Orthopedic Devices Market

Industry / Sector Trends

Orthopedic Devices Market size was valued at USD 42.7 billion in 2018 and is expected to witness approximately 3.7% CAGR from 2019 to 2025.
 

 U.S. Orthopedic Devices Market Size, By Product, 2018 & 2025, (USD Million)

 

Growing geriatric population base is highly susceptible for developing bone related diseases such as osteoporosis and osteoarthritis. As per WHO, the global population over 60 years is expected to reach 2 billion by 2050. Increasing base of elderly population will create significant demand for various orthopedic implants and devices.
 

Increasing prevalence of diabetes and obesity, lack of physical activity, poor diet intake and rising trend of smoking and alcohol consumption will fuel the market demand over the forecast years. New innovations in the field of osteology should boost the development of cost-effective devices.  Technological advances in 3D printing, robot-assisted surgical procedures, and smart implants will represent high impact driving factors for the global industry revenue.
 

Increasing incidence of road accidents and sports injuries, and spurring demand for minimally invasive surgical procedures should stimulate global market growth. Availability of innovative materials and biodegradable implants for medical interventions will augment demand.
 

Rising cost burden of expensive surgeries, high cost of implants, and dearth of skilled professionals may hinder business growth. Lack of uniform reimbursement landscape in developed countries and low per capita healthcare expenditure in developing nations will hamper adoption of advanced devices over the coming years.
 

Market Segmentation, Outlook & Regional Insights: Orthopedic Devices Market

 Orthopedic Devices Market, By Product

China Orthopedic Devices Market Size, By Product, 2018 (USD Million)

 

Joint reconstruction devices market is estimated to reach USD 22.4 billion by 2025. Increasing geriatric population, rising prevalence of osteoporosis and osteoarthritis and soaring incidence of road accidents and sport injuries will drive demand for artificial joint reconstruction devices.
 

Spinal devices business will expand at 3.8% CAGR between 2019 and 2025 due to rising prevalence of degenerative disc diseases among the aged population, coupled with the novel products development for spinal disorders treatment. Most of the industry participants are exploring related business segments to broaden their product offerings and commercially exploit the lucrative market.

 

Orthopedic Devices Market, By Region

Europe Orthopedic Devices Market Size, By Country, 2025 (USD Million)

 

U.S. market will reach USD 28.4 billion by 2025. Increasing adoption of advanced orthopedic solutions and improved healthcare infrastructure will stimulate business growth. Rising R&D support to develop innovative products should also augment industry expansion.
 

Germany market size will show rapid growth of 2.5% CAGR throughout the forecast period. The presence of sophisticated healthcare infrastructure, adoption of advanced healthcare technologies and accelerated research in the field of orthobiologics and arthroscopic devices should fuel industry growth.
 

Key Players, Recent Developments & Sector Viewpoints: Orthopedic Devices Market


Some of the key players operating in the orthopedic devices industry space include Stryker, Medtronic, Zimmer Biomet, DJO Global, ConforMIS, NuVasive, MicroPort Scientific Corporation (Wright Medical Group), Globus Medical, Medacta, DePuy Synthes and Smith & Nephew. Acquisitions, collaborations, partnerships, new product launches and geographic expansion are the most commonly adopted business strategies by orthopedic devices industry participants. For instance, in January 2016, Smith and Nephew announced the acquisition of Blue Belt Holdings Ltd. It provides robotic assistance in partial knee replacement. This acquisition intends to accelerate growth in this area of surgery and expand the NAVIO platform into total knee, bi-cruciate retaining knee and revision knee implants.
 

Orthopedic Devices Industry Viewpoint

 

 

The roots of orthopedic devices can be traced back to the time of World War I, when it was initiated as a department to heal injured and crippled soldiers. With extensive R&D activities and various developments, currently, orthopedic devices market is a multi-billion-dollar industry with steady growth in both developing and developed nations. The global market is driven by the growing government focus on reducing disease cost burden owing to growing prevalence of elderly population. Rising prevalence of osteoporosis and arthritis should drive tremendous growth in the future. Emerging economies are poised to witness higher growth than the developed ones, mainly because of increasing adoption of in developing nations and market maturity in the developed countries

Key Insights Covered: Exhaustive Orthopedic Devices Market
1.  Market size (sales, revenue and growth rate) of Orthopedic Devices industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Orthopedic Devices industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Orthopedic Devices industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Orthopedic Devices industry.

Research Methodology: Orthopedic Devices Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.