Orthopaedic Devices Market Size and Growth Rate:

“The Global Orthopaedic Devices Market was valued at US$ 35.9 Bn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to rising geriatric population with orthopedic disorders coupled with increasing demand for orthopedic implants”

Orthopaedic Devices Market Growth Drivers and Restraints:

The global orthopaedic devices market was valued at US$ 35.9 Bn in 2018 and growing at a CAGR of 3.6% over the forecast period owing to increasing prevalence of degenerative bone disorders coupled with growing number road accidents each year. For instance, around 1.25 million people die in road accidents every year, additionally 20-50 million people are injured or disabled. The increasing number of accidents every year is the major factor driving the growth of the market over the forecast years. Furthermore, increasing number of surgical procedures and rising chronic diseases along with increasing demand for innovative therapies and advancements in technology are expected to drive the growth of the market. However, lack of skilled professional, unfavorable reimbursement policies and high cost of implants are anticipated to restrain the growth of the market.

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Spinal devices segment accounted for higher revenue share

Based on product, global orthopaedic devices market is segmented into spinal devices, joint reconstruction, ortho biologics, arthroscopic devices, and trauma fixation devices. Spinal devices segment accounted for the largest market share in 2018 and is expected to grow with highest CAGR over the forecast period owing to launch of novel technology based products and increase in the occurrence of spine-related disorders. The trauma fixation devices are also expected to eyewitness considerable revenue share by the end of 2025.
North America holds leading position in Global Orthopaedic Devices Market

PBI’s global orthopaedic devices market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to presence of large number of market players in the region coupled with introduction of novel technologies into the market. The increasing prevalence of orthopedic disorders is the major factor driving the growth of the market. Asia Pacific is expected to growth with significant CAGR over the forecast years owing to growing elderly population in China and India and growing medical tourism which the important parameter that drives the growth of the market.
Recent Developments in the Global In Orthopaedic Devices Market

 In September 2019, Zimmer Biomet Holdings has announced FDA 510 (K) clearance for the Persona Revision Knee System for revision knee replacement procedures
 In October 2018, Zimmer Biomet and Apple announced the launch of joint replacement app that will connect knee and hip replacement patients to surgical teams and follow them through the episode of care
 In 2017, Zimmer Biomet Holdings, Inc. launched Persona Partial Knee System, a personalized and anatomically designed knee implant systems.

Key player’s profiles in the report are Medtronic (U.S.), Stryker (U.S.), Zimmer Biomet (U.S.), ConforMIS (U.S.), DJO Global (U.S.), NuVasive (U.S.), Globus Medical (U.S.), MicroPort Orthopaedics, Inc (Wright Medical Group) (U.S.) Medacta (Switzerland), Smith & Nephew ( UK) and DePuy Synthes (U.S.).

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Detailed Segmentation of Orthopaedic Devices Market:

By Application
o Cranio Maxillofacial (CMF)
o Knee
o Hip
o Shoulder
o Elbow
o Spine
o Foot and ankle
o Others

By Product
o Spinal devices
o Joint reconstruction
o Ortho biologics
o Arthroscopic devices
o Trauma fixation devices

By Consumables
o Orthopaedic staples
o Orthopaedic suture anchors

By End User
o Hospitals
o Orthopaedic clinics
o Medical centers
o Research Centers

Geography

o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)

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