Orthopaedic Devices Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023

Veröffentlicht von: precision business insights
Veröffentlicht am: 14.02.2018 08:21
Rubrik: Gesundheit & Medizin

(Presseportal openBroadcast) - Orthopaedic Devices Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023


Orthopaedic device is a medical device which is used to replace missing joint or bone or to give support to the damaged bone. The device is fabricated by using titanium alloys and stainless steel for strength and plastic coating acts as artificial cartilage. Internal fixation is a surgery in orthopaedics which involves implementation of implants in order to repair the damaged bone. Most common orthopaedic medical devices are rods, pins, plates and screws which are used for anchoring of fractured bones while they heal.

Rising geriatric population is major driving factor of the orthopaedic devices market due to they are highly prone to bone and muscle related disorders like osteoarthritis and osteoporosis. According to WHO, by 2050, global population above 60 years have estimated to reach 2Mn, rising prevalence rate of obesity and diabetes, sedentary life style due to poor physical activity, diet styles and growing trend of consumption of alcohol and smoking, innovations osteology field, growing incidence of accidents and injuries related to sports, are expected to fuel the growth of orthopaedic devices market. Increasing cost burden of the surgeries, high cost of implants, lack of skilled professionals, low reimbursement policies are hampering the growth of the orthopaedic devices market.

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Orthopaedic devices market is segmented on basis of application, product, consumables, end users and geographical regions.

Based on application, the orthopaedic devices market is segmented

• Cranio Maxillofacial (CMF)
• Knee
• Hip
• Shoulder
• Elbow
• Spine
• Foot and ankle
• Others

Based on product, the orthopaedic devices market is segmented

• Spinal devices
• Joint reconstruction
• Ortho biologics
• Arthroscopic devices
• Trauma fixation devices

Based on the consumables, the orthopaedic devices market is segmented

• Orthopaedic staples
• Orthopaedic suture anchors

Based on the end user, the orthopaedic devices market is segmented

• Hospitals
• Orthopaedic clinics
• Medical centres
• Research centres

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The presently available pain management treatments are not capable of successfully restoring the body parts due to unavailability of efficient surgical tools which results in huge investments in R&D to introduce new and efficient devices for treatment of pain management. In 2015, According to the Rheumatoid arthritis support network, rheumatoid arthritis (RA) is affecting about 1.3Mn Americans and about 1% of total world population. Manufacturers are focused on huge investments of R&D and innovative product launches. Despite of the restraints, emerging markets in developing countries and introduction of biologics for the treatment of foot and ankle disorders are expected to offer lucrative opportunities for the manufacturers in the market.

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Orthopaedic Devices Market is segmented as North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America. North America is the leading market owing to rise in demand for the advanced healthcare services due to availability of well-established healthcare infrastructure and favourable reimbursement policies. National Health Interview Survey (NHIS) estimates states that, about 22.7% of adult population in U.S. were diagnosed with the arthritis every year, significantly high prevalence among women is 23.9% and men is 18.6%. Asia Pacific is anticipated to show tremendous growth due to increased sophisticated healthcare infrastructure, and increased medical tourism in emerging nations. China and India have high growth of geriatric population pool across the globe, growing medical tourism, availability of advanced healthcare treatments at a cheaper cost.

Some of the players in orthopaedic devices market are Medtronic (U.S.), Stryker (U.S.), Zimmer Biomet (U.S.), ConforMIS (U.S.), DJO Global (U.S.), NuVasive (U.S.), Globus Medical (U.S.), MicroPort Orthopaedics, Inc(Wright Medical Group) (U.S.) Medacta (Switzerland), Smith & Nephew ( UK) and DePuy Synthes (U.S.)

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