Orthopedic devices market size – USD 47.89 billion in 2019
VANCOUER, BC, CANADA, April 28, 2022 /EINPresswire.com/ — The Global orthopedic devices market The report presents comprehensive information covering relevant data for businesses and investors for the period 2020-2027. The report studies the historical data of the Orthopedic Devices market and offers valuable insights into the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimate of the Orthopedic Devices market based on the recent technological and research advancements.
The global orthopedic devices market is expected to reach USD 65.29 billion by 2027, according to a new report from Emergen Research. The demand for braces is propelled by factors such as increasing incidence of osteoporosis, musculoskeletal disorders, technological advancements, increasing prevalence of sports injuries, growing geriatric population and increasing the prevalence of obesity. Braces are equipped for the treatment of musculoskeletal conditions by removing the hip, knee, spine, cranio-maxillofacial (CMF) bone. These also offer treatment for broken bones and muscles, stifling the recovery cycle. Orthopedic devices are designed to gain rigidity and resilience with titanium or stainless steel alloys.
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The increase in the elderly population is a major factor driving the growth of the market, due to the increasing frequency of hip fractures in the elderly. Adults over the age of 65 are assumed to be hospitalized each year for hip fractures, as published by the United Health Foundation. About 30% of the elderly fell last year, which led to an increase in the number of orthopedic accidents, which increases the demand for orthopedic equipment at a substantial rate.
Major players operating in the market are CONMED Corporation, Medtronic PLC, Zimmer-Biomet Holdings Inc., Smith & Nephew PLC, Aesculap Implant Systems LLC, Stryker Corporation, Donjoy Inc., DePuy Synthes, NuVasive Inc., and B. Braun Melsungen AG . , among others.
Orthopedic devices market size – USD 47.89 billion in 2019, Orthopedic devices market growth – CAGR of 3.9%.
The global orthopedic devices market is expected to reach USD 65.29 billion by 2027, according to a new report from Emergen Research.
The knee application held the largest market share in the orthopedic devices market. The North America region knee application is the major market shareholder and held around 32.2% of the market in 2019, owing to the growing number of knee surgeries, coupled with the high demand for technologies that facilitate rapid treatment .
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Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its negative economic impact in the latter part of the report. Coronavirus outbreak has brought about drastic changes in the current Orthopedic Devices Market business landscape, limiting growth opportunities for various manufacturers and buyers over the coming years. Apart from speculating on the post-COVID-19 scenario of the market, the report discusses its current situation.
Some key highlights of the report:
On the basis of product, accessories accounted for a revenue of USD 19.88 billion in 2019 and is expected to increase with a CAGR of 4.0% during the forecast period owing to the reduction in model prices. older due to the rapid speed of innovation and improvements to generate market opportunities.
Arthroscopic devices are expected to grow with a CAGR of 4.7% over the forecast period owing to the increase in sports-related soft tissue injuries and increasing new product launches.
The Asia-Pacific region is expected to witness the fastest growth rate during the forecast period. Factors such as a large patient base and growing healthcare spending in the region are balancing business growth in Asia Pacific. Furthermore, the growing purchasing power of the masses in developing economies, namely India and China, provides a huge opportunity to expand the market.
Segments covered in the report:
Emergen Research has segmented the global orthopedic devices market based on product, type, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Type Outlook (Revenue, USD Billion; 2017-2027)
Joint reconstruction devices
Application Outlook (Revenue, USD Billion; 2017-2027)
Sports Medicine, Extremities and Traumatology (SET)
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Geographic segment covered in the report:
Orthopedic Devices market provides information about the market area, which is sub-divided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country and sub-region over the estimated period.
North America (USA and Canada)
Europe (UK, Germany, France and Rest of Europe)
Asia-Pacific (China, Japan, India and the rest of the Asia-Pacific region)
Latin America (Brazil, Mexico and Rest of Latin America)
Middle East and Africa (GCC and Rest of Middle East and Africa)
Why Should You Buy This Orthopedic Devices Market Report?
The study document dissects the total market potential of major regions along with strengths, opportunities and challenges, restraints and dangers.
Identifying high-improvement locations, the study inspects open entries, keeping an eye out for accomplices.
It examines each submarket in terms of a unique improvement design and its contribution to the market.
It reviews recent developments, such as breakthroughs, business strategies, new product launches, and acquisitions.
It deliberately profiles the major players in the market and thoroughly studies their strategies for advancement.
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