According to the report Middle East and Africa Orthopedic Devices Market, published by Market Data Forecast, The Market was worth $2.66 billion in 2016 and estimated to be growing at a CAGR of 4.61%, to reach $3.34 billion by 2021.
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An orthopedic device is used to assist or substitute the missing bone or joint. It aids in rebuilding or reinforcing the damaged configuration.
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In order to fabricate a biocompatible tool, several properties of musco-skeletal tissues such as tendon, bone, ligament, and cartilage need to be properly comprehended. The materials utilized in the devices must be adjustable to the body in order to prevent rejection.
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The growth of the Middle East and Africa Orthopedic Devices Market is mainly driven by factors such as rise in geriatric population, growing frequency of osteoarthritis and osteoporosis, and rise in sports injuries and road accidents. However, factors such as costly procedures & equipment, recurrent product recalls, and unfavorable economic conditions are hindering the growth of the market in this region.
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Middle East and Africa Orthopedic Devices Market: Segmentation
- Foot and Ankle
- Y-o-Y Growth Analysis, By Anatomical location
- Market Attractiveness Analysis, By Anatomical location
- Market Share Analysis, By Anatomical location
Type of Consumables
- Orthopedic staples
- Orthopedic suture anchors
- o Resorbable suture anchors
- o Metallic suture anchors
- Y-o-Y Growth Analysis, By Type of Consumables
- Market Attractiveness Analysis, By Type of Consumables
- Market Share Analysis, By Type of Consumables
The market has been geographically segmented into Middle-East and Africa. In terms of market share, South Africa leads the market in this region.
Other significant markets in this region include UAE, Israel and Nigeria. Trade in medical devices and equipment is vital to the region's growth with all markets reliant on imports.
Reasons to access Middle East and Africa Orthopedic Devices Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
The market is categorized by the existence of diversified international and national companies, where the global players lead the market and are predicted to grow exponentially by securing regional or local companies. The major companies dominating the Orthopedic Devices market in this region are Medtronic, Stryker, Zimmer Inc., DePuy, Synthes, Smith & Nephew, and Biomet.
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