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New Research on Orthopedic Products Market: Studying Influencing Factors and top Companies in the Market

Press Release   •   Jan 29, 2018 06:57 EST

The market for global orthopedic devices was valued at around USD 47.8 billion in 2015 and is expected to reach USD 59.5 billion by 2022, growing at a CAGR of around 3.3% during the forecast period of 2016 to 2022. Major segments in orthopedic devices market include joint reconstruction (hip, knee and extremities), spine, trauma, orthobiologics, arthroscopy/soft tissue repair, and others. The orthopedic device market appear to remain the main player in the global medtech sales, which is expected to reach around USD 480 billion by 2020. Anything that is concerned with muscles, ligaments and joints is considered orthopedic. Disorders are ailments, injuries or diseases that cause knee problems, whiplash, dislocated shoulder, torn cartilages, foot pain and fibromyalgia. These are only a few of the known orthopedic disorders. There are as many treatments for orthopedic disorders as there are problems and injuries in the muscles, ligaments and joints. Orthopedic treatments and devices have helped restore a normal lifestyle for millions of patients globally.

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The increasing incidence of sports injuries, osteoarthritis, osteoporosis, and obesity, combined with the ever-increasing aging population globally is the key growth drivers of the global orthopedic products market. Along with these factors, increasing availability of emerging technologies like 3D printing, robotics, and customizable implants further expected to propel the market in the coming years. Some of the key technologies in the orthopedics market could play a major role in the shaping of the market in the next few years. Robotics and computer navigated surgeries continue to gain momentum as robotic and advanced computer technologies are used in knee and joint replacement surgeries, as well as cartilage repair procedures. Customized orthopedic implants are also increasing in the market as the demand for patient-specific implantation rises. Major companies like Stryker, Zimmer Biomet, Medtronic, and others are now involved in the manufacturing of personalized orthopedic devices and implants.

Geographically, North America is the leading contributor to the market and is expected to retain its position during the forecast period due to the presence of large number of orthopedic patients and rise in base of aging population. However, Asia-Pacific market is expected to grow at a faster rate during the forecast period. This is predominantly due to increased healthcare awareness, improved economic growth, joint ventures and some significant mergers and acquisitions and increased government funding.

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Companies profiled:

  • Zimmer Biomet
  • DePuy Synthes
  • Stryker Corporation
  • Smith & Nephew plc
  • Medtronic
  • Wright Medical Group N.V.
  • Arthrex Inc.
  • Sanofi S.A.
  • NuVasive, Inc.
  • Integra lifesciences, etc.