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Global Orthopedics Devices Market to Reach $61 Billion by 2023

Global Orthopedics Devices Market to Reach $61 Billion by 2023

According to a research report by BIS Research, titled ‘Global Orthopedics Devices Market -Analysis and Forecast (2017-2023)', the global orthopedics devices market is expected to reach $61 billion by 2023. A growing geriatric population and increasing demand for non-invasive treatments are boosting the market growth. The knee segment leads the market in terms of revenue. The hip segment is growing at a CAGR of 6.1%, due to an increase in the number of hip fractures.

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An orthopedics device is used for various disorders related to joints, ligaments, muscles, nerves, and tendons as well as other musculoskeletal diseases or injuries such as arthritis, osteoarthritis, joint pain, tendinitis, and tenosynovitis. It is used to support or replace the missing bone or joint. It helps in restoring the function by replacing or reinforcing the damaged structure. Orthopedics devices are used for the treatment of musculoskeletal diseases or injuries.

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Technological innovations across the various segments of the orthopedics industry have propelled the market growth.

The orthopedics devices market broadly focuses on joint reconstruction and replacement, spinal surgery and rehabilitation, trauma or fixation, arthroscopy, Orthopedics soft goods, braces and supports and ortho-biologicals. The major product groups are artificial joints, spinal implants, devices for fracture repair (mainly intramedullary nails, plates, and screws), ortho-biologics, and devices or equipment for arthroscopy.

BIS Research Analysis: bisresearch.com/industry-report/gl…-market-2022.html

The growing awareness regarding the availability of innovative products among patients is pushing hospitals to constantly upgrade the devices and services they offer. In addition to this, the reimbursement coverage of Orthopedics treatments has further fuelled the adoption of Orthopedics surgeries. All the above-mentioned factors are positively impacting the market growth.

North America dominates the market for Orthopedics devices because of the prevalence of obesity and osteoarthritis and higher value per device in the region. The Asia Pacific market is expected to witness significant growth due to increasing population density and expanding healthcare markets. The global Orthopedics devices market offers tremendous opportunity for manufacturers by creating new and sustained export options for companies which will result in the removal of market barriers and help firms to capture a large share of the market.

Few Companies Mentioned in the report:

• United Orthopedics Corporation

• Integra LifeSciences Corporation

• NuVasive Inc

• LifeNet Health Inc

• Arthrex Inc

• Johnson & Johnson

• Smith & Nephew plc

• Wright Medical Group N.V.

• STRYKER CORPORATION

• Globus Medical Inc

• Zimmer Biomet Holdings Inc

• RTI Surgical Inc

• Kinetic Medical

• Orthofix Holdings Inc

• AlloSource

Key questions answered in the report:

• What are the major market drivers, challenges and opportunities in the global orthopedic devices market and their case studies?

• How did the orthopedic devices market evolve and what is its scope in the future?

• What is the market share of the leading segments and sub-segments of the global orthopedic devices market in 2016 and 2023?

• How will each segment of the global orthopedic devices market grow over during the forecast period and the revenue generated by each of the segments by the end of 2023?

• Who are the leading players in the global orthopedic devices market and their respective market share?

• What are the influencing factors that may affect the market share of the key players?

• How will the industry evolve during the forecast period between 2017 and 2023?

• What are the key developmental strategies implemented by the key players to stand out in this market?

• Which is the geographical location contributing to the highest sales of global orthopedic devices?

• What are the recent technological trends in global orthopedic devices market?

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