Market Analysis

Orthopedics is the investigation of the musculoskeletal framework including the spine, bones, joints, tendons, ligaments, muscles and nerves. An orthopaedist or orthopaedic specialist is a specialist that works in the aversion, determination, and treatment including surgery of the musculoskeletal framework. Overall hip and knee orthopaedic surgical Implant markets are ready to accomplish huge development with the maturing of the populace.

Add up to hip substitution surgery has developed significantly finished the years as advances in innovation have made it conceivable to enhance surgical procedures. 325,000 individuals had added up to hip substitution surgery in 2015 in the United States. PC helped add up to hip substitution surgery is one of the most recent unrests in all-out hip substitution.

Statistical surveying investigator predicts the worldwide orthopaedic gadget market to develop relentlessly at a CAGR of around 4% by 2020. Factors, for example, the expanding maturing populace and the increased rate of orthopaedic infections, for example, joint pain, bursitis, fibromyalgia, hip torment, knee torment, injury, and osteoporosis, are expected to reinforce the prospects for development in this market amid the anticipated period.

Market Report of Orthopedics

The medical science of Arthroplasty deals the musculoskeletal system including the spine, bones, joints, ligaments, tendons, muscles, and nerves. Orthopaedical (doctor/surgeon) that specializes in the prevention, diagnosis, and treatment including surgery of the musculoskeletal system. A famous forte in the field of Orthopedics is Sports: Complementary Approaches. In spite of the fact that wounds amid sports are unavoidable, there are many societies/Associations worldwide have focused on the significance of preventing sports injuries to prolong the career of athletes.

As per 2016-2020 market research: Technikon market research analysts have estimated the spine orthopaedic devices segment to account for a market share of more than 27% by the end of 2020. Factors like the rising incidence of spinal disorders and the growing preference for minimally invasive spinal surgeries are the major factors that fuel the demand for spine-related devices during the forecast period.

The current market Forecasts (2016-2021) is anticipating that Global Orthopedics Devices Market will reach $55.60 billion by 2021 developing at a CAGR of around 5.7% from 2016 to 2021. An orthopaedic device is utilized to help or restore the missing bone or joint. It helps in re-establishing the capacity by supplanting or fortifying the harmed structure. Keeping in mind the end goal to build up a biocompatible device, various properties of musco-skeletal tissues such as bone, cartilage, ligament and tendon need to be properly understood. The material used in the devices should be adaptable to the body in order to avoid rejection. The Upcoming of Orthopedics Medical Devices to 2021 – it will grow to $22.5 billion (€20.9 billion) by 2021, with a year-on-year growth of 9.1%. Demand for Orthopedics medical devices will grow over 2021 as clinically viable and cost-effective results are established.

Europe Orthopedics Devices Market

Orthopedics Devices Market size was over USD 39 billion in 2016 and is forecast to witness more than 3% CAGR from 2017 to 2024.

The growing geriatric population base is highly susceptible to 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 the elderly population will create significant demand for various orthopaedic implants and devices.

Increasing prevalence of diabetes and obesity, lack of physical activity, poor dietary intake and rising trend of smoking and alcohol consumption will fuel orthopaedic devices market demand over the forecast years. New innovations in the field of osteology should boost the development of cost-effective devices.  Technological advances in Oral, Inhalation, and Transdermal patches, Ocular, Nasal, and Topical Implants will represent high impact driving factors for the global industry revenue.

USA & Canada Orthopedics Devices Market

The U.S. orthopaedic extremity device market will grow at a moderate rate to reach a total value of more than $4.2 billion by 2016, according to a report recently released by the Millennium Research Group.

The global orthopaedic devices market was valued at USD 29.7 billion in 2015. The growing prevalence of orthopaedic conditions, such as degenerative bone disease and rising number of road accidents are the major factors driving the market growth. In addition, obesity and sedentary lifestyles resulting in the early onset of musculoskeletal conditions are expected to boost the market growth during the forecast period.

Technavio’s market research analyst predicts the global orthopaedic device market to grow steadily at a CAGR of around 4% by 2020. Factors such as the increasing aging population and the augmented incidence of orthopaedic diseases, such as arthritis, bursitis, fibromyalgia, hip pain, knee pain, trauma, and osteoporosis, are anticipated to bolster the prospects for growth in this market during the predicted period.

Asia Pacific Orthopedics Device Market:

The Asia Pacific orthopaedic devices market is expected to exhibit the fastest growth during the forecast period. China and India are together expected to account for the largest geriatric population pool across the world. As a result, the demand for orthopaedic surgeries in China and India is expected to grow tremendously in the near future. In addition, the booming medical tourism industry in the region owing to the availability of advanced healthcare treatments at a cheaper cost is expected to attract the target patient population to Asia Pacific. Therefore, Asia Pacific is anticipated to reach USD 7.5 billion in 2024.

The Asia-Pacific Orthopedics Devices Market was worth $9.22 billion in 2016 and estimated to be growing at a CAGR of 5.52%, to reach $12.07 billion by 2021. People who are troubled with chronic wounds, which take significant amount of time to heal and are expensive to treat have received a much-needed relief in the form of Orthopedics Devices.

Orthopedics Top Device Companies:

The United States Orthopedics market is slated to reach $4.2 billion in the next three years, according to a report by the Millennium Research Group. While the industry has faced some challenges like metal-on-metal hip implants, the overall Orthopedics industry has been growing at a rapid pace. Orthopedics products include devices for ankles, feet, shoulders, elbows, wrists, and hands. In total, the annual growth rate of the Orthopedics market is forecasted to be 3.4%.

Despite some issues with its joint products, J&J dominates the Orthopedics industry. By 2018, analysts predict that the company will command more than one-fourth of the total market.

Market segmentation

Joint replacements and spinal implants are the two major types of orthopaedic devices. Joint replacement devices can be further categorized based on anatomical location into the knee, hip, shoulder, spine, extremities, and trauma. Knee orthopaedic devices dominate the US Orthopedics device market followed by hip orthopaedic devices due to increasing demand in hip replacement surgeries, fractures, and an aging population.        

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