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Orthopedic Devices Market

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Orthopedic Devices Market

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. ORTHOPEDIC DEVICES MARKET ANALYSIS Orthopedic Devices Market, By Product Type (Hip Orthopedic Devices, Knee Orthopedic Devices, Spine  Orthopedic Devices, Shoulder  Orthopedic Devices, Elbow  Orthopedic Devices, Foot and Ankle Orthopedic Devices, CMF  Orthopedic Devices Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  3. Statistics: • The global orthopedic devices market is estimated to account for US$ 60,052.8 Mn in terms of value by the end of 2027. • Drivers • Increasing prevalence of osteoarthritis is expected to propel growth of the global orthopedic devices market over the forecast period. For instance, according to the study ‘Osteoarthritis in Europe: Impact on health status, work productivity and use of pharmacotherapies in five European countries’ that examined the impact of peripheral joint osteoarthritis across five European countries, UK (43.6%), France, (25.6%), Germany, (15.2%), Spain, (8.4%), and Italy (7.1%) recorded high prevalence of peripheral joint osteoarthritis, with majority of cases aging 55-74 years. • Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the World Health Organization, geriatric population is expected to reach 2 billion by 2050, up from 900 million in 2015

  4. Figure 1: Global Orthopedic Devices Market Share (%) Value, By Region, 2019

  5. Market Restraints • Issues with fittings and some side effects of wearing splints are expected to hinder growth of the market. Prefabricated stack splint and the dorsal aluminum splint may not fit well and often lead to skin irritation. • Moreover, high cost associated with fiber material is also expected to limit growth of the market. For instance, the cost of high quality braces can be around US$ 900. 

  6. Market Opportunities • Adoption of wireless technology is expected to offer lucrative growth opportunities for players in the global orthopedic devices market. For instance, in August 2019, Intellirod Spine launched iLink, a Bluetooth-enabled sensor module that can be attached to any brace, orthotic or prosthetic to measure wearing compliance, upright posture time and mobility daily through a free smartphone app. • Moreover, transparency around the cost of orthopedic devices is also expected to aid in growth of the market. For instance, in January 2020, Breg, Inc. released a new software release focused on improving transparency around the cost of durable medical equipment products such as knee braces, shoulder slings, splints, boots and crutches at the time of dispensement.

  7. Figure 2: Global Orthopedic Devices Market Value (US$ Bn), 2016 – 2027

  8. Market Trends • Increasing prevalence of obesity is boosting growth of the market. For instance, the study, ‘Rising incidence of obesity in Saudi residents. A threatening challenge for the surgeons’, published in the International Journal of Health Sciences, in January 2018, reported obesity in 42% of the study population with low physical activity levels and unhealthy dietary habits. • Major players in the market are focused on R&D of new devices. For instance, in June 2018, Breg, Inc. hosted a co-creation workshop on bracing solutions with orthopedic surgeons and administrators.

  9. Competitive Landscape • Major players operating in the global orthopedic devices market include, aapImplantate AG, Aesculap, Inc., Arthrex, Inc., ArthroCare Corporation, Biomet, Inc., Conmed Corporation, DePuy Synthes, Inc., OSSIO, Globus Medical, Inc., NuVasive, Inc., Conventus Orthopaedics, DJO Global, Inc., and Breg, Inc. • Global Orthopedic Devices Market: Key Developments • Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in May 2020, Conventus Orthopaedics acquired Flower Orthopedics, a developer of single-use, sterile-packaged implant and instrument kits.

  10. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference: https://www.coherentmarketinsights.com/market-insight/orthopedic-devices-market-3946

  11. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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