Orthopedic Devices Market – Recent Developments & Growth Opportunities 2020-2025
Category: #healthcare  By Ronak Bora  Date: 2021-03-16
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Orthopedic Devices Market – Recent Developments & Growth Opportunities 2020-2025

The orthopedic devices market is expected to record prominent growth over the forecast period on the bank of rising geriatric population across the world. In recent years, there has been a major increase in the aging population globally. In fact, as per the WHO (World Health Organization) estimates, presently 125 million people across the world are aged 80 years or older. Moreover, the global population aged 60 years and older is expected to reach 2 billion by 2050, up from 900 million in 2015.

The growing prevalence of bone related infirmities is expected to steer the joint reconstruction market towards lucrative growth in the coming years. Advancements in technological medical procedures such as minimally invasive implants have witnessed substantial demand from joint reconstruction surgeries. Smart implants with microprocessors for instant data transfer, customized implants, and other innovative products in the orthopedic devices market, portrays a wide range of orthopedic solutions and treatments available to cater to the rising number of orthopedic patients.

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This demographic is prone to several disorders like arthritis, osteoporosis, and musculoskeletal primarily due to a decreased bone strength. This has led to an increase in the demand for orthopedic treatments across the world, predominantly creating lucrative growth opportunities for the orthopedic devices market over the forecast period.

In recent years, there has been an increase in the adoption of cutting-edge orthopedic medical devices across the globe. Technological advancements such as 3D printing devices, gene therapy techniques, and customized implants have been gaining prominence in the orthopedic devices industry. Citing an instance to highlight the same, Johnson & Johnson announced a partnership with Aspect Biosystems for 3D printing of knee tissue in a bid to transform the healthcare industry with 3D printing technologies. Aided by innovations like above, the orthopedic devices market is poised to record lucrative growth over the forecast period.

The U.S. orthopedic devices market is anticipated to experience exponential growth on account of an increase in demand for minimally invasive surgery and incorporation of advanced technology in medical science. There is a jump in the regional geriatric population base, escalating prevalence of osteoporosis, musculoskeletal disorders, and arthritis.

Leading companies providing orthopedic devices worldwide include Integra Lifesciences, DJO Global, Zimmer Biomet, NuVasive, ConforMIS, Globus Medical, DePuy Synthes, Medacta, Waldemar Link, Smith and Nephew, Conmed, Alphatec Spine, Stryker, and Medtronic Spinal. These companies are focusing on new product development and geographical expansion. Strategic mergers and acquisitions will aid these firms to consolidate their position in the highly competitive global market.

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Chapter 4. Orthopedic Devices Market, By Product

4.1. Key segment trends

4.2. Joint reconstruction

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.    Hip replacement

4.2.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.3. Knee replacement

4.2.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.4. Ankle replacement

4.2.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.5. Shoulder replacement

4.2.6.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Spinal devices

4.3.1.    Market size, by region, 2014 – 2025 (USD Million)

4.4. Trauma fixation

4.4.1.    Market size, by region, 2014 – 2025 (USD Million)

4.5. Orthobiologics

4.5.1. Market size, by region, 2014 – 2025 (USD Million)

4.6. Arthroscopic devices

 

Charts & Figures

FIG. 1    Industry segmentation

FIG. 2    Global orthopedic devices market size, 2014 – 2025 (USD Million)

FIG. 3    Growth potential analysis, by product

FIG. 4    Business model, Zimmer Biomet

FIG. 5    Business model, Smith & Nephew

FIG. 6    Business model, Stryker

FIG. 7    Porter’s analysis

FIG. 8    Strategy dashboard

FIG. 9    PESTEL analysis

 

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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