Orthopedic Devices Market Analysis, Trends, Growth, Size, Share and Forecast 2022 To 2030
Market Highlights
The global Orthopedic Devices Market has been evaluated as
steadily growing market and it is expected that the market will continue to
grow similarly in the near future. Increasing prevalence of osteoporosis,
increasing cases of accidents, and increasing aging population are key driving
forces for global orthopedic devices market. Technological advancement, new
treatment methods, and changing medical sector are also major factors for
market growth. Increasing funding for research and new product development is
leading the market growth.
The Orthopedic Devices Market was around US$ 43.8 billion in
2016 and is expected to reach US$ 58.8 billion which is projected to grow at a
CAGR of 10.4% by 2030.
Taste the market data and market information presented
through more than 86 market data tables and 64 figures spread over 129 numbers
of pages of the project report. Avail the in-depth table of content TOC &
market synopsis on “Global Orthopedic devices Market – Trends & Forecast,
2017-2023”
Major Players in Orthopedic Devices Market:
There are plenty of large and small Orthopedic Devices
Market Players which operate in companies DePuy Synthes Companies (US), Globus
Medical, Inc. (US), Medtronic (Republic of Ireland), NuVasive, Inc. (US), Smith
& Nephew plc. (UK), Stryker Corporation (US), and Zimmer Inc. (US)
Segmentation:
Global Orthopedic
Devices Market Insights has been segmented
·
on the basis of type which comprise
Trauma Fixation, Spinal Devices, Joint Replacement, Consumables &
Disposables, Bone Repair, and Others.
·
On the basis of application, it is
segmented into, Spine, Trauma and extremities, Knee, Hip, Foot and ankle, and
others.
·
On the basis of end user, it is segmented
into, Ambulatory surgery centers, Hospitals, and medical research center.
Orthopedic devices is one of the steadily growing segments
of medical devices. Most of the major brands are increasing their product
portfolio related to orthopedic segment. Major players are investing huge money
in R&D and new product development that leading competition in this market.
Top brands are holding about 60% market share of global orthopedic devices
market while other medium or small players are focusing on sub segments and
capturing small market share. Major
companies are adopting a specific strategy to enter and create unique space in
this market. The different strategies include, product launch, agreement and
collaboration, partnership and expansion, joint venture and strategic alliance
etc. Most of the key players expanding their business in developing region like
Asia-Pacific. All the players are trying to grab major market share that makes
this market more competitive.
Regional Analysis:
Considering the global scenario of the Orthopedic
Devices Market Outlook, North America is largest market for orthopedic
devices. In 2016, Europe was holding major market share in global orthopedic
devices market the countries like Germany, France and UK are holding major
stake in this market. The Asia-Pacific (APAC) region is witnessing fastest
growth of orthopedic devices market. While Middle East and Africa orthopedic
devices market is growing steadily and expected to grow at lower than global
average during the forecast period.
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