Orthopedic devices refer to a variety of structural devices designed to protect, stabilize and correct orthopedic disorders. These devices comprises various implants, fixators which can be used in variety of anatomical locations such as hip, shoulders, elbow, spines and other parts of the body. These devices are used in fractures or trauma and can be surgically implanted or externally fixed through minimally invasive procedures.Transparency Market Research (http://www.transparencymarketresearch.com/), a leading U.S. based market research firm, analyzes the market for orthopedics devices and predicts a compounded annual growth rate of 4.9% for the period 2013 to 2019.
The orthopedic device market over the past few years has emerged as one of the most dynamic industries in medical devices and equipment sector. Various drivers that contributed toan exponential rise in the market comprise of technological advancements such as resorbable and drug coated implants, rapidincrease of age associated diseases such as osteoporosis and osteoarthritis, favorable reimbursement policies,incorporation of CAD/CAM based implant manufacturing and increasing road & sports.Rising demand for low cost devices and minimally invasive surgical techniques is also expected to drive market in growing economies of Asia-Pacific, Latin America and rest of the world.
In 2011, Osteoporosis causes approximately 9 million fractures annually worldwide, of which more than 5 million occur in the Americas and Europe. The lifetime risk for a wrist, hip or vertebral fracture has been estimated to be in the order of 30% to 40% in developed countries which is very close to coronary heart diseases. According to National Joint Registry, UK report approximately 90,842 knee replacement, 2,225 shoulder replacement and 86,448 knee replacement procedures have happened in Europe. According to WHO tens of million people get injured and disabled annually.
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In 2012, knee and hip joint implant and fixation devices accounted for largest market share by revenue. The trend is likely to continue due to increasing demand for total knee arthroplasty and osteoarthritis in the hip joint. Devices for other extremities and foot and ankle is expected to be the fastest growing segment due to increasing instances of ankle arthritis & degenerated joint condition like hammer toes and bunions. Improved implant devices and minimally invasive surgical techniques in total wrist replacement is also likely to boost the growth and demand for other extremities market. Some of the leading companies in orthopedic devices market includes aap Implantate AG, Alphatec Spine Inc., Biomet, Inc., DePuy Synthes, Inc., Globus Medical, Inc. and Integra LifeSciences Corporation etc.
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