Global Orthopedic Devices Market Revenue 2019 | Remarkable Growth Factors with Industry Size & Share, New Innovations of Leading Players & Forecast till 2024
Orthopedic Devices Market Status and Trend Report 2019-2024 offers a comprehensive analysis on Orthopedic Devices industry, standing on the readersâ perspective, delivering detailed market data and penetrating insights.
The “Orthopedic Devices Market” 2019 provides an in-depth analysis of all market dynamics including drivers and restraints, and trends and opportunities. Important factors supporting growth across various is also provided. The impact of prevailing regulatory scenario on both regional and worldwide Orthopedic Devices market is provided in detail in the report. Industry Research offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Orthopedic Devices market is based on company profiles and their efforts on increasing product value and production.
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Some of The Major Key Players of Orthopedic Devices Market Are:
- DePuy Synthes Companies
- DJO Global Inc.
- Globus Medical Inc.
- Integra LifeSciences
- Medtronic Spinal
- NuVasive Inc.
- Smith and Nephew PLC
- Stryker Corporation
- Wright Medical Group NV
- Zimmer Biomet
Scope of the Report:
- Orthopedic devices are used to replace missing joint or bone or to give support to the damaged bone. The devices are fabricated by using titanium alloys and stainless steel for strength, and plastic coating acts as artificial cartilage. Internal fixation is a surgery in orthopedics, which involves implementation of implants, in order to repair the damaged bone. Most common orthopedic medical devices are the rods, pins, plates, and screws, which are used for anchoring of fractured bones while they heal.
- The orthopedic devices market is expected to witness a CAGR of 7.2% during the forecast period. North America has been dominating the orthopedic devices market, and the region is expected to maintain its dominance throughout the forecast period.
- – The number of people undergoing joint replacement surgeries, such as total hip and knee replacement, has increased steadily and continues to increase, due to an increase in the aging population. The rise in the osteoporosis-related fractures and musculoskeletal diagnoses are driving the demand for orthopedic implants among the population aged 65 years or older.
- – According to the Arthritis Research, UK published a report on “The State of Musculoskeletal Health 2018”, it is estimated that 17.8 million people live with a musculoskeletal condition in the United Kingdom, which is around 28.9% of the total population. Therefore, statistics show that the number of orthopedic surgeries is increasing, which leads to an increase in the demand for orthopedic implants.
- – The other driving factors include an increasing number of large joint reconstruction surgeries, growing elderly population, increase in the prevalence of orthopedic disorders, and development of bioabsorbable and titanium implants. However, factors, such as stringent regulatory reforms, hamper the growth of the mar
- Drivers: (Developing regions and growing markets)
- Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
- Opportunities: (Regional, Growth Rate, Competitive, Consumption)
The report provides key statistics on the market status of the Orthopedic Devices Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Orthopedic Devices .
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Key questions answered in the report include:
- What will the market size and the growth rate be in 2024?
- What are the key factors driving the global Orthopedic Devices market?
- What are the key market trends impacting the growth of the global Orthopedic Devices market?
- What are the challenges to market growth?
- Who are the key vendors in the global Orthopedic Devices market?
- What are the market opportunities and threats faced by the vendors in the global Orthopedic Devices market?
- Trending factors influencing the market shares of the relevant regions.
- What are the key outcomes of the five forces analysis of the global Orthopedic Devices market?
Key Market Trends:
The Join Reconstruction Segment is Anticipated to Grow at High CAGR During the Forecast Period
The global orthopedic devices market is segmented by application and geography. The application segment is further segmented into hip orthopedic devices, joint reconstruction, knee orthopedic devices, spine orthopedic devices, trauma fixation devices, craniomaxillofacial orthopedic devices, dental orthopedic devices, and other applications. The joint reconstruction segment is anticipated to grow at a high CAGR, owing to the rise in geriatric population, growing prevalence of osteoarthritis and osteoporosis, and rise in the incidence of sports injuries and road accidents. Additionally, technological advancements have significantly influenced the joint reconstruction devices segment of the market studied.
Spinal devices are also expected to witness a steady growth rate during the forecast period, owing to the introduction of new technologies and products and rise in prevalence of spine-related disorders. The trauma fixation orthopedic devices are also anticipated to witness substantial revenue by the end of 2024.
Asia-Pacific is Anticipated to Grow with the Fastest CAGR During the Forecast Period
North America is expected to dominate the market, due to the increasing awareness of the minimally-invasive procedures for orthopedic surgeries, continuous innovation in the implant technologies, and advanced healthcare facilities. A high adoption rate of advanced technologies are also the factors driving the growth of the market in this region.
The demand for orthopedic surgeries in China and India is also expected to grow tremendously in the near future. India and China are anticipated to account the largest market share in the Asia-Pacific region, owing to the high increase in the geriatric population pool. Moreover, increasing medical tourism, due to the availability of cost-efficient and advanced healthcare treatment options, compared to the other geographical regions, and increasing adoption of novel technologies are bolstering the growth of orthopedic devices market in the Asia-Pacific region. Increase in the RandD expenditures on novel technologies and growing economic conditions in countries, like Brazil, are likely to enhance the market growth for orthopedic devices in the Latin America region.
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Study objectives of Orthopedic Devices Market Report:
- To provide a detailed analysis of the market structure along with the forecast of various segments and sub-segments of the Orthopedic Devices market
- To provide insights into factors influencing and affecting market growth
- To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
- To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
- To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
- To provide economic factors, technology trends, and market trends that influence the global Orthopedic Devices market
Detailed TOC of Orthopedic Devices Market Report 2019-2024:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Number of Large Joint Reconstruction Surgeries
4.2.2 Growing Elderly Population Increases the Prevalence of Orthopedic Disorders
4.2.3 Development of Bioabsorbable and Titanium Implants
4.2.4 Rising Demand for Orthopedic Implants
4.3 Market Restraints
4.3.1 Alternative Procedures, such as Tissue Engineering and Development of New Drugs
4.3.2 Stringent Regulatory Reforms
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Application
5.1.1 Hip Orthopedic Devices
5.1.2 Joint Reconstruction
5.1.3 Knee Orthopedic Devices
5.1.4 Spine Orthopedic Devices
5.1.5 Trauma Fixation Devices
5.1.6 Craniomaxillofacial Orthopedic Devices
5.1.7 Dental Orthopedic Devices
5.1.8 Other Applications
5.2.1 North America
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.2.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.2.5 South America
188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 DePuy Synthes Companies
6.1.2 DJO Global Inc.
6.1.3 Globus Medical Inc.
6.1.4 Integra LifeSciences
6.1.5 Medtronic Spinal
6.1.6 NuVasive Inc.
6.1.7 Smith and Nephew PLC
6.1.8 Stryker Corporation
6.1.9 Wright Medical Group NV
6.1.10 Zimmer Biomet
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Name: Ajay More
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