Orthopedic Devices Market to Grow at a Surprising Growth of USD 7505.26 Million by 2029, Size, Share, Trends, Growth Factors, Segmentation and Opportunity Assessment
Data Bridge Market Research analyses that the orthopedic devices market which was USD 4,603.62 million in 2021, would rocket up to USD 7505.26 million by 2029, and is expected to undergo a CAGR of 6.3% during the forecast period 2022 to 2029.
NEW YORK, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research completed a qualitative study titled "Orthopedic Devices Market" with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. Orthopedic Devices market research analysis and data lend a hand to businesses for the planning of strategies related to investment, revenue generation, production, product launches, costing, inventory, purchasing, and marketing. Precious market insights with the new skills, latest tools, and innovative programs can be achieved via this business report which helps them accomplish business goals. This winning market report performs a comprehensive analysis of profiles of key market players that give a competitive landscape to businesses. A team of skilled analysts, statisticians, research experts, enthusiastic forecasters, and economists work meticulously to structure such a great Orthopedic Devices market research report for businesses.
Data Bridge Market Research analyses that the orthopedic devices market which was USD 4,603.62 million in 2021, would rocket up to USD 7505.26 million by 2029, and is expected to undergo a CAGR of 6.3% during the forecast period 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Orthopedic devices are used to replace or support a missing or damaged bone or joint in a patient's body. The orthopedic devices are intended to cure deformities or fractures, among other things, in order to restore normal skeletal function and stable body posture. The orthopedic devices market has transformed as a result of technological advancements, which have resulted in a shift away from traditional surgical methods and toward the usage of current fixation and prosthetic devices.
Internal fixation surgery, which entails the placement of devices to cure broken bones, frequently employs orthopedic devices for anchoring fractured bones. Accidents and sports injuries are becoming more common around the world, which is propelling the market forward. The number of orthopedic surgeries is rising, which is hastening the use of orthopedic devices. In addition, technological advancements are increasing the demand for orthopedic equipment.
Fundamental Aim of Orthopedic Devices Market Report
In the Orthopedic Devices market, every company has goals, but this report focuses on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.
Factors influencing the Orthopedic Devices Market Size and growth rate.
Major alterations to the Orthopedic Devices Market in the near future.
Notable Market rivals around the world.
The Orthopedic Devices Market's Future Scope and Product Outlook
Future-promising emerging markets.
The Market Presents Difficult Challenges and Threats.
Sales data and profiles of the world's leading Orthopedic Devices manufacturers
The Orthopedic Devices Market is Dominated by Firms Such as
Zimmer Biomet (U.S)
Smith & Nephew plc (Germany)
Braun Melsungen AG (Germany)
NuVasive, Inc. (U.S)
DJO, LLC (U.S)
Institut Straumann AG (Switzerland)
OSSTEM IMPLANT CO., LTD. (South Korea)
Narang Medical Limited (U.S)
Globus Medical (U.S)
Arthrex, Inc. (U.S)
CONMED Corporation (U.S)
Integra LifeSciences Corporation (U.S)
RTI Surgical (U.S)
W. L. Gore & Associates, Inc. (U.S)
Corin Group (U.S)
Johnson & Johnson Services, Inc. (U.S)
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Medtronic announced in October 2020 that their Adaptix Interbody System, the first guided titanium implant with Titan nanoLOCK Surface Technology, would be available in the United States. The company's new product has enhanced its credibility and demand in the market, resulting in greater revenue in the region.
Smith & Nephew plc stated in September 2020 that it had introduced its REDAPT System for revision total hip arthroplasty (rTHA) in the Chinese market. The company's new product has raised its sales and demand in the Asia-Pacific area.
Opportunities for Key Players:
In several areas, robotic surgery is becoming more popular. The use of automation in orthopedic implant technologies is allowing for new growth opportunities. Furthermore, the use of robots simplifies the process. Robots are capable of doing more successful surgery than human surgeons. It increases robot adoption in the orthopedic devices market. It is a necessary component that promotes rapid growth. Furthermore, growing research and development is another factor that provides potential for growth. The market's top regional companies are investing millions of dollars in orthopedic implants.
Key Market Segments Covered in Orthopedic Devices Industry Research
Reconstructive Joint Replacements
Knee Replacement Implants
Upper Extremity Reconstruction
Lower Extremity Reconstruction
Spinal Fusion Implants
Cervical Fixation Devices
Interbody Fusion Devices
Vertebral Compression Fracture (VCF) Devices
Balloon Kyphoplasty Devices
Motion Preservation Devices/Non-Fusion Devices
Dynamic Stabilization Devices
Artificial Disc Replacement Devices
Annulus Repair Devices
Nuclear Disc Prostheses
Root Form Dental Implants
Plate Form Dental Implants
Demineralized Bone Matrix (DBM)
Synthetic Bone Substitutes
Wrist and Shoulder
Ambulatory Signal Centers
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Key Growth Drivers:
A rise in the geriatric population
An ageing population and increased prevalence of osteoarthritis and osteoporosis around the world are driving the global market. Furthermore, increased medical tourism and technological improvements have played an important role in the global market's expansion. The orthopedic devices market is being driven by factors such as an increase in the geriatric population, a high risk of osteoporosis and osteoarthritis, as well as an increase in joint replacement and sports accidents around the world. Over the forecast period of 2022 to 2029, fractures and trauma cases are also expected to increase the orthopedic devices market. Furthermore, technical advancements such as 3D printing and smart sensors, both of which have a high product penetration, are boosting market growth.
Advent of 3D printing technology
This has gained a lot of attraction among medical device manufacturers for making patient-specific implants, prototypes, and biodegradable implants, among other things, propelling the industry forward.
Significant rise in the number of osteoporosis patients
In the coming years, advances in limiting side effects are projected to generate profitable prospects for the orthopedic business. Obesity and diabetes, for example, have been linked to an increase in the incidence of degenerative joint disease, particularly among the elderly. As more young people engage in sports and fitness activities, the number of accidents associated with these activities rises. This has resulted in a rise in demand for orthopaedic devices all around the world.
Orthopedic Devices Market Regional Analysis/Insights:
The countries covered in the orthopedic devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is predicted to dominate the market due to an ageing population and an increase in incidences of orthopaedic disorders, while the presence of important companies in the area will fuel market expansion.
Asia Pacific is likely to grow at the fastest rate due to developing economies such as China and India, while government initiatives on research and development projects and investment in enhancing healthcare infrastructure will drive market expansion from 2022 to 2029.
This Market Intelligence Report Analyses Some of the Most Crucial Concerns:
How will the major segments of this international market develop over the next few years?
Who are the major players that will dominate the market in the future?
When it comes to this industry, who are the top suppliers and producers?
How have the most successful companies in the industry planned for future growth and expansion?
In what sectors might we expect to see the greatest increase in demand over the coming years?
How many distinct subsets of buyers make up this market?
Which regional powerhouse do you foresee as becoming the largest player in the international market?
Does a new coronavirus pandemic have any consequences?
In what ways are established actors stymied by the entry of newcomers, and how may they be overcome?
Table of Contents:
Global Orthopedic Devices Market: Regulations
Global Orthopedic Devices Market, By Product
Global Orthopedic Devices Market, By Type
Global Orthopedic Devices Market, By Biomaterial
Global Orthopedic Devices Market, By End User
Global Orthopedic Devices Market, By Region
Global Orthopedic Devices Market: Company Landscape
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Elbow Replacement Orthopedic Devices Market, By Product Type (Partial Elbow Replacement, Total Elbow Replacement), End User (Hospitals, Clinics, Orthopedic Centers), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-elbow-replacement-orthopedic-devices-market
Small Bone and Joint Orthopedic Devices Market, By Product Type (Shoulder Reconstruction Devices, Elbow Repair Devices, Fracture Fixation and Replacement Systems, Foot and Ankle, External Fixation Devices, Plate and Screws, Joint Prosthesis, Others), Application (Foot, Hand), End User (Hospitals, Clinics, ASCs), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-small-bone-and-joint-orthopedic-devices-market
Wrist Replacement Orthopedic Devices Market, By End-User (Hospitals And Clinics, Diagnostic Laboratories, Others), Type of Expenditure (Public, Private), Product (Instruments/Equipment, Disposables), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) https://www.databridgemarketresearch.com/reports/global-wrist-replacement-orthopedic-devices-market
Orthopedic Prosthetics Market, By Product Type (Upper Extremity, Prosthetics, Lower Extremity Prosthetics, Liners, Sockets and Modular Components), Technology Type (Conventional, Electric Powered and Hybrid Prosthetics), End User Type (Hospitals, Prosthetic Clinics, Rehabilitation Centers, and Others) https://www.databridgemarketresearch.com/reports/global-orthopedic-prosthetics-market
Orthopedic Joint Reconstruction Market, By Product Type (Demineralized Bone Matrix, Allograft, Bone Morphogenetic Protein, Viscosupplementation Products, Synthetic Bone Substitutes, Others), Joint Type (Knee, Hip, Shoulder, Ankle, Other), Procedure (Total, Partial, Others), Technique (Joint Replacement, Implants, Bone Graft, Osteotomy, Arthroscopy, Resurfacing, Arthrodesis), Biomaterial (Metallic, Polymeric, Ceramic, Natural), End-User (Hospitals and Ambulatory Centers, Research and Academic Institute) https://www.databridgemarketresearch.com/reports/global-orthopedic-joint-reconstruction-market
Orthopedic Implants Market, By Product Type (Reconstructive Joint Replacements, Spinal Implants, Dental Implants, Orthobiologics, Trauma and Craniomaxillofacial Implants, Others), Biomaterial (Ceramics Biomaterials, Metallic Biomaterials, Polymeric Biomaterials, Natural Biomaterials Constipation), Procedure (Open Surgery, Minimally Invasive Surgery (MIS), Others), Device Type (Internal Fixation Devices, External Fixation Devices), Application (Neck Fracture, Spine Fracture, Hip Replacement, Shoulder Replacement, Others), End User (Hospitals, Orthopedic Clinics, Home Cares, Others) https://www.databridgemarketresearch.com/reports/global-orthopedic-implants-market
Orthopedic Trauma Devices Market, By Product Type (Internal Fixators, External Fixators), Material (Non-Absorbable, Bio- Absorbable, Metallic Fixators), End- Users (Hospitals, Orthopedic And Trauma Centers, Ambulatory Surgical Centers), Application (Hip Orthopedic, Joint Reconstruction, Knee Orthopedic, Spine Orthopedic, Trauma Fixation, Craniomaxillofacial Orthopedic, Dental Orthopedic, Others), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa) https://www.databridgemarketresearch.com/reports/global-orthopedic-trauma-devices-market
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