Orthopedic Devices Market Size, Share Business Outlook, Growth Opportunities, Trends and Forecasts

0
576

Market Summery

The global orthopedic devices market size is expected to reach a strong 6.5% CAGR over the forecast period from 2023 to 2032, according to the latest research report from Market Research Future (MRFR).

The primary drivers of the global orthopedic devices market include increasing demand for technological advancements in orthopedic devices, rising prevalence of conditions necessitating their use (such as osteoporosis), and expanding market opportunities in developing nations. According to the National Osteoporosis Foundation, around 10 million individuals in the United States suffer from osteoporosis, with an additional 44 million having low bone density, putting them at higher risk for osteoporosis and related bone disorders. Growing awareness about these conditions and the effectiveness of orthopedic devices in addressing associated issues are expected to significantly propel market growth in the forecast period.

Competitive Analysis:

Global Orthopedic Devices Companies include

  • DePuy Synthes Companies,
  • Medtronic,
  • Smith & Nephew plc,
  • Zimmer Inc.,
  • Stryker Corporation,
  • NuVasive Inc., and
  • Globus Medical Inc.

Industry Updates and Opportunities:

Strong technological advancement is also likely to further the cause of the global orthopedic devices market over the forecast period. Technological advancement in the global orthopedic devices market mainly focuses on making the devices lighter and more easily wearable, apart from bringing about innovations that help manufacture the devices at a cheaper price. 3D printing is likely to become more popular in the global orthopedic devices market over the forecast period, as it allows for precise manufacturing at relatively cheap costs.

As the healthcare industry continues to evolve, the orthopedic devices market remains at the forefront of innovation, driven by the growing demand for advanced orthopedic instruments and implants. These devices play a crucial role in enhancing patient outcomes, facilitating surgical procedures, and improving the quality of life for individuals suffering from musculoskeletal disorders. With a focus on precision, durability, and efficiency, orthopedic instruments and implants have become indispensable tools for orthopedic surgeons worldwide.

Segmentation: The orthopedic devices market worldwide is categorized by type, application, end use, and region. Regarding type, the market comprises spinal devices, bone repair solutions, joint replacements, trauma fixation products, consumables and disposables, along with other miscellaneous items. In terms of application, the market encompasses spine treatments, knee interventions, foot and ankle procedures, hip replacements, trauma and extremity care, and various other applications. Regarding end use, the market serves hospitals, ambulatory surgery centers, and medical research facilities, with hospitals projected to maintain dominance in revenue generation.

Regional Analysis: North America commands the largest market share, representing 39.6% in 2016, driven by the increasing prevalence of osteoporosis and related conditions. The region's robust technological infrastructure, particularly in 3D printing, further propels market growth, with numerous leading 3D printing manufacturers situated there. Europe stands as another significant market, expected to witness substantial growth due to rising osteoporosis cases, with an estimated valuation of USD 19,467.6 million by 2023. Asia Pacific is poised for the swiftest expansion, driven by escalating demand for advanced orthopedic solutions, especially for spinal and bone-related issues, projected to achieve a robust 6.2% CAGR over the forecast period.

Related Reports-

North America Plant Growth Regulators

Europe Behavioral Health Services

europe palliative care

remote patient monitoring devices

software as a medical device

Top of Form

For more information, Please Visit us @ Market Research Future

Реклама
Поиск
Реклама
Категории
Больше
Политика
online lottery booking in india
online lottery booking in india Rama Lottery is India's leading online lottery platform. 100%...
От Rama Lottery 2024-08-06 05:57:21 0 159
Животные
Calcium Formate Market Supply-Demand, Growing Trends, Top Manufactures, Regional Forecast Analysis 2030
Calcium Formate Market Overview The report analyzed by Maximize Market Research,...
От Geeta Narwade 2023-12-21 12:33:36 0 1K
Искусство
Military Tank Containers Market Size Analysis, Segmentation Analysis, Data Overview By 2027
Market Overview: The Military Tank Containers Market Size is expected to grow over the CAGR of...
От Mira Ray 2023-05-26 10:59:03 0 874
Бизнес
Hard Seltzers market size, share and forecast to 2030.
Hard seltzers have taken the beverage industry by storm in recent years. These alcoholic...
От Ritu Patel 2024-06-14 08:56:23 0 337
Бизнес
Education and Learning Analytics Expanding Rapidly during Forecast Period
Education and Learning Analytics Market: Strategic Insights, Key Players, and Forecasts...
От Sakshi Sasane 2024-11-08 08:29:13 0 0