Asia-Pacific Orthopedic Devices Industry by Anatomical location (Knee, Shoulder, Foot and Ankle, Hip, Spine, Elbow, Craniomaxillofacial, and Others), by Type of Consumables (Orthopedic staples, Orthopedic suture anchors - (Resorbable suture anchors and Metallic suture anchors)) and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
According to the report Asia Pacific Orthopedic Devices Industry, published by Market Data Forecast, TheIndustry 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 Orthopedic Devices.
Orthopedic Devices Industry provides feasible and user-friendly products to the afflicted patients. In order to acquire a biocompatible tool, several properties of musco-skeletal tissues such as tendon, bone, ligament, and cartilage need to be properly understood.
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 Asia Pacific Orthopedic Devices Industry is mainly due to growing prevalence of orthopedic conditions, rising number of road accidents, continuous innovation in the implants technology, and increasing awareness of minimally invasive procedures. However, factors such as costly procedures & equipment, recurrent product recalls, and stringent regulatory approval procedures are restraining the growth of the Industry in this region.
The Asia Pacific Orthopedic Devices Industry is segmented based on Anatomical location and Type of Consumables. The Industry for Orthopedic Devices, on the basis of Anatomical location is segmented into Knee, Shoulder, Foot and Ankle, Hip, Spine, Elbow, Craniomaxillofacial, and Others.
The knee segment is the largest segment, by Anatomical location, whereas the Hip segment is projected to be the fastest growing segment. This is due to various factors such as rise in geriatric populace, increase in frequency of hip fractures, and mounting demand for hip replacement surgeries.
On the basis of type of Consumables, the Orthopedic Devices Industry is segmented into Orthopedic staples and Orthopedic suture anchors. Orthopedic suture anchors are further segmented into resorbable suture anchors and metallic suture anchors.
The Orthopedic suture anchors segment dominates the Industry under this segment with a share of around 75%.
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The Asia Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. China leads the Orthopedic Devices Industry in this region.
The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to reasons such as rising aging population, increasing medical tourism in Asia Pacific countries, and favourable regulatory policies for the modernization of healthcare infrastructure.
The Industry is categorized by the existence of diversified international and national companies, where the global players lead the Industry and are predicted to grow exponentially by securing regional or local companies. The major companies dominating the Orthopedic Devices Industry in this region are Medtronic, Stryker, Zimmer Inc., DePuy, Synthes, Smith & Nephew, and Biomet.
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Key Points from Table of Contents
- Executive Summary
- Key Inferences
- New Developments
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
Asia Pacific Orthopedic Devices Industry: Segmentation
- Anatomical location
- o Knee
- o Shoulder
- o Foot and Ankle
- o Hip
- o Spine
- o Elbow
- o Craniomaxillofacial
- o Others
- Type of Consumables
- o Orthopedic staples
- o Orthopedic suture anchors
- South Korea
- PESTLE analysis
- Porter’s Five analysis
Industry Leaders' Analysis
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