Orthopedic Devices Market size is set to exceed USD 55.0 billion by 2025; according to a new research report by Global Market Insights. Growing geriatric population coupled with increasing prevalence of arthritis and osteoporosis will stimulate the global orthopedic devices market growth. Poor diet intake, lack of physical activity, and changing lifestyle trends should further stimulate the industry growth.
Rising number of road accidents coupled with increasing instances of sports injuries will spur orthopedic implants and devices demand. Growing trend towards adoption of minimally invasive surgical procedures and use of innovative biodegradable implants for medical treatment will fuel business growth.
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Advances in osteology to develop cost effective devices along with technological innovation in robot assisted surgical interventions, implants and 3D printing will boost industry demand over forecast years. Emerging countries should offer lucrative growth opportunities due to increasing elderly population, rising prevalence of bone disorders and adoption of novel technologies over coming years.
However, inflated surgery and devices cost, lack of skilled human resource and presence of non-uniform reimbursement scenario across different regions should restrain industry growth. Low per capita income levels in developing countries and lack of awareness will further limit business expansion.
Joint reconstruction market is forecasted to exceed USD 22.4 billion by 2025. The segment is gaining popularity due to growing unmet need for better and effective solutions for bone related ailments. Technological advances in implants and minimally invasive implant techniques will promote business growth.
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Trauma fixation devices should witness lucrative growth at 3.8% CAGR due to rising geriatric population susceptible to bone disorders and growing instances of road accidents, leading to bone fractures and spinal injuries. However, high devices cost, and expensive nature of surgeries should hamper industry growth over forecast years.
UK orthopedic devices market will expand with a significant CAGR of 2.5% during the forecast period. High growth is due to large geriatric population base and rising prevalence of bone diseases. Increasing economic burden of fractures and other bone related ailments should accelerate orthopedic devices demand over coming years.
Japan orthopedic devices market is expected to exceed USD 2.6 billion by 2025. Rapidly growing geriatric population base and increasing incidence of spine disorders and bone injuries should stimulate business growth. Adoption of advanced technologies and growing patient awareness should also propel industry growth.
Some of the key companies operating in orthopedic devices market include Stryker, Medtronic Spinal, Zimmer Biomet, DJO Global, ConforMIS, NuVasive, MicroPort Scientific Corporation (Wright Medical Group), Globus Medical, Medacta, DePuy Synthes and Smith & Nephew. Industry is primarily driven by strategic acquisitions coupled with new product launches and geographical expansion. Industry participants strive to retain their market position in high profitable areas and high growth verticals by adoption these strategies.
Orthopedic devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2014 to 2025, for the following segments:
Orthopedic devices Market by Product
- Joint reconstruction
- Hip replacement
- Knee replacement
- Ankle replacement
- Shoulder replacement
- Spinal devices
- Trauma fixation devices
- Arthroscopic devices
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia