According to industry experts, global Orthopedic Devices Market Size is anticipated to record 4.2% CAGR during the forecast period.
The expanding ageing population and the rising number of traffic accidents as well as rising incidences of orthopedic disorders, which also includes degenerative bone disease are the major growth stimulants for global orthopedic devices market.
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For the unversed, orthopedic device is a medical equipment, which is employed in the treatment, diagnosis, and prevention of musculoskeletal disorders and injuries. This tool supports the fractured bone while also assisting in the repairing of missing or broken skeleton parts.
Based on application spectrum, the industry is divided into dental orthopedic devices, craniomaxillofacial (CMF) orthopedic devices, spine orthopedic devices, trauma, sports injuries, extremities (SET) orthopedic devices, hip orthopedic devices, and knee orthopedic devices. Among these, the knee orthopedic devices segment is estimated to capture a massive market share during the anticipated period.
In terms of product category, global orthopedic devices market is diverged into guide tubes, distracters, screw drivers, custom clamps, implant holder, drill guide, and accessories.
By surgery type, the industry is catalogued into minimally invasive surgery and open surgery. Out of which, the minimally invasive surgery segment is predicted to expand significantly during the analysis timeframe, owing to growing demand for the same.
Speaking of end-user, the market is classified into hospitals, orthopedic clinics, and others. Amongst these, the hospital division is expected to capture a major chunk of share over the upcoming years.
Regionally, the latest trends are studied across Western Europe (UK, Benelux, France, Spain, Nordic, Germany, Italy, rest of Western Europe), Asia Pacific (Australia, South Korea, China, ASEAN, India, Japan, Rest of APAC), Middle East & Africa (GCC, Turkey, South Africa, Rest of MEA), Latin America (Mexico, Brazil, Rest of Latin America), Eastern Europe (Poland, Russia, rest of Eastern Europe), and North America (U.S. and Canada). Among these, North America region is poised to expand significantly over the forecast duration.
Moving to competitive approach, DonJoy Inc, Conmed Corporation, Aesculap, Inc., Orthofix Medical Inc., Globus Medical, Inc., Zimmer Biomet, B. Braun Melsungen AG, NuVasive Inc., Stryker Corporation, DePuy Synthes, and Medtronic plc are the leading players in global orthopedic devices idnsutry.
Questions and Answers: Global Orthopedic Devices Market
Q1. What are the growth determinants for global orthopedic devices market?
Answer: The expanding ageing population and the rising number of traffic accidents as well as rising incidences of orthopedic disorders, which also includes degenerative bone disease are the major growth stimulants for global orthopedic devices market.
Q2. Which surgery type category is slated to contribute significantly to worldwide orthopedic devices market earnings?
Answer: The minimally invasive surgery segment is predicted to expand significantly during the analysis timeframe, owing to growing demand for minimally invasive surgeries.
Q3. Which are the key players in global orthopedic devices market?
Answer: DonJoy Inc, CONMED Corporation, Aesculap, Inc., Orthofix Medical Inc., Globus Medical, Inc., Zimmer Biomet, B. Braun Melsungen AG, NuVasive Inc., Stryker Corporation, DePuy Synthes, and Medtronic plc are the leading players in global orthopedic devices market.
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