Orthopedic Devices Market Size, Trends And Growth Analysis By Type (Trauma Fixation, Spinal Devices, Joint Replacement, Consumables & Disposables, Bone Repair), Application (Spine, Trauma and Extremities, Knee, Hip, Foot and Ankle), End-User (Ambulatory Surgery Centers, Hospitals, Medical Research Center) - Forecast till 2027
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Orthopedic Devices Market Overview
Orthopedic Devices Market is projected to reach USD 58.81 Billion by 2023, which is expected to register a 4.3% CAGR during the forecast period. Rapid growth in the geriatric population sector is the main driver of the orthopedic devices market.
Orthopedic Devices Market Segmental Analysis
By Type
The joint replacement segment is estimated to reach a substantial value. Growing population of elderly and the incidence of osteoporosis and osteoarthritis would boost demand for artificial joint replacement products.
By Application
The hip orthopaedic devices are projected to be the fastest growing segment during the forecast period. As written in the paper, an osteoarthritis flare is more frequent in patients who lack conservative treatment.
By End-Use
The hospitals sector has overshadowed the orthopaedic implant industry. Development of this category can be due to the high rates of admissions to hospital as well as the wide variety of facilities provided at a single location.
Key Players Focus on Mergers and Acquisitions to Expand Market standing
Large corporations have implemented a number of tactics to compete with other companies. These techniques include different types of mergers and acquisitions, joint ventures, alliances and joint ventures. The businesses concentrate on innovation and designing new goods and devices, and marketing them at affordable prices to developing countries.
DePuy Synthes Companies
Globus Medical, Inc.
Medtronic
NuVasive, Inc.
Smith & Nephew plc
Stryker Corporation
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