The analysts forecast global orthopedic device market will register a revenue of more than USD 44 billion by 2022. One trend in the market is M&A deals.
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Although key players such as DePuy Synthes, Zimmer Biomet, Strykar, Smith & Nephew, and Medtronic are having a significant presence in the market, thry are facing tough competition from other emerging players and affecting the organic growth of these companies. Owing to these reasons players such asDePuy Synthes, Strykar, and Zimmer Biomet are changing their market strategies and focused on M&As to increase their presence in the market.
According to the orthopedic device market report, one driver in the market is continuous advancements in technology. Orthopedic devices have been witnessing a drastic advancement in past three decades through product innovation.
The rapid advancement in technology was due to the extensive R&D activities led by the key manufacturers and thereby contributing largely toward the market growth. The key advancement witnessed recently are robotic-assisted smart surgery for hip, knee, shoulder, and spine-related implants.
Apart from these, surgeons emphasis more on MIS owing to the high accuracy, precision, and better patient outcomes. The MIS for orthopedic implants has reduced the total cost and minimized the time for recovery.
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Further, the orthopedic device market report states that one challenge in the market is rising product recalls. Orthopedic devices are susceptible to manufacturing errors.
Regulatory agencies evaluate all medical devices for potential risk by conducting health hazard evaluation. With respect to this, many orthopedic devices and implants have been recalled from the market due to their risk factor.
Between 2002 and 2013, consumer’s union reported 578 recalls alone from six key global key players of the global orthopedic devices market. The biggest recall was reported by the Stryker with 231 recalls and followed by DuPuy Synthes with 150 recalls.
By the time the adversities of the recall were noticed, tens of thousands of people have already received the problematic devices.
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Major key players provided in the global orthopedic device market: DePuy Synthes, DJO Global, Medtronic, Strykar, Smith & Nephew, Zimmer Biomet, 4WEB Medical, aap Implantate, Acumed, Advanced orthopedics, Aesculap Implant Systems, AlloSource, Alphatec Spine, AMEDICA, Anika Therapeutics, Arthrex, Arthrosurface, Baxter, BBS-Bioactive Bone Substitutes, Barkeley Advanced Biomaterial, Bioretec, bioventus, Bone therapeutics, camber Spine technologies, ConforMIS, CONMED, Corin, DGIMED Ortho, Emerge Medical, Exactech, Flower orthopedics, Graftys, Hip Innovation Technology, Integra LifeSciences, Intelligent Implant Systems, Internal Fixation Systems, ISTO Biologics, K2M, Keramat, LDR Holding, Medartis, MicroPort Scientific, Nextremity Solutions, NovaBone, NuTech Medical, NuVasive, Orthofix International, orthogem, OsteoMed, Paragon 28, RTI Surgical, SHOULDER INNOVATIONS, Spinal Analytics & Geometrical Implant, Tyber Medical, Vilex, Virak Orthopedics, and XTANT Medical.
Complete report on Orthopedic Device Market spread across 175 pages, analyzing 56 major companies and providing 110 data exhibits now available at www.reportsnreports.com/reports/12…t-2018-2022.html.
Major Points from List of Exhibits:
Exhibit 1: Parent Market
Exhibit 2: Global Medical Devices Market
Exhibit 3: Market Characteristics
Exhibit 4: Market Segments
Exhibit 5: Market Definition: Inclusions and Exclusions Checklist
Exhibit 6: Global Orthopedic Devices Market Size 2017
Exhibit 7: Validation Techniques Employed For Market Sizing 2017
Exhibit 8: Global Orthopedic Devices Market 2017-2022 ($ Billions)
Exhibit 9: Global Orthopedic Devices Market: Year-Over-Year Growth 2018-2022 (%)
Exhibit 10: Five Forces Analysis 2017
Exhibit 11: Five Forces Analysis 2022
Exhibit 12: Bargaining Power of Buyers
Exhibit 13: Bargaining Power of Suppliers
Exhibit 14: Threat of New Entrants
Exhibit 15: Threat of Substitutes
Exhibit 16: Threat of Rivalry
Exhibit 17: Market Condition: Five Forces 2017
Exhibit 18: Global Orthopedic Devices Market Share By Application 2017-2022 (%)
Exhibit 19: Comparison By Application
Exhibit 20: Global Spine Devices Market 2017-2022 ($ Billions)