• According to Transparency Market Research’s latest report on the global orthopedic devices  market for the historical period 2017–2018 and forecast period 2019–2027, rise in percentage of population requiring orthopedic devices, increase in incidence rates of injuries related to accidents, sports, and adventure, surge in adoption of technologically advanced products are projected to drive the global orthopedic devices market during the forecast period
  • According to the report, the global orthopedic devices  market was valued at US$ 46.2 Bn in 2018 and is anticipated to expand at a CAGR of 4.3% from 2019 to 2027

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Rise in percentage of population requiring orthopedic devices and increase in incidence rates of injuries related to accidents, sports, and adventure: Key Drivers

  • Increase in percentage of elderly and obese populations is likely to propel the adoption rate of orthopedic devices during the forecast period. According to the U.S. Department of Health & Human Product estimates, the U.S. will have about 72.1 million geriatric population by 2030, which is more than twice the number in 2000.
  • Prevalence of osteoarthritis, rheumatoid arthritis, fibromyalgia, juvenile arthritis, and other forms of orthopedic disorders is increasing primarily due to aging population, obesity, and changes in lifestyle. According to CDC, in U.S. by the year 2040, an estimated 78.4 million adults aged 18 years and older will have doctor-diagnosed arthritis, compared with the 54.4 million adults in 2013–2015.
  • Incidence of accidental injuries during sports, driving, and adventure has increased drastically in the last decade. A study published in January 2016 by the National Electronic Injury Surveillance System in the U.S. indicated that every year over 2 million patients visit the U.S. emergency departments for head trauma related injuries. Incidence of accidental injuries and hip fractures has also increased in the last decade.

Surge in adoption of technologically advanced products Boost Market Growth

  • Large number of global manufacturers who have technical expertise and core competencies are undertaking constant efforts to develop and manufacture novel orthopedic products to attract more customers. Rapid adoption rates are observed for technologies such as minimally invasive surgery (MIS), navigation technology, 3D bioprinting and tissue engineering, custom made implants, computer-aided fixation of implants, and development of variable axis screw systems.
  • Several major manufacturers are collaborating and partnering with emerging market entrants having novel product pipeline. For instance, in January 2017, Johnson & Johnson announced collaboration with Aspect Biosystems, a company engaged in 3D-bioprinting and tissue engineering

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Product recalls affecting market adoption rates to Hamper Market

  • Incidences of product recalls due to device inefficiency or manufacturing errors affect the adoption rate of these devices among surgeons and patients, thereby affecting revenue of the manufacturers
  • The global orthopedic devices market has seen various product recalls in the past few years. In April 2017, Zimmer Biomet Holdings, Inc. recalled its class I devices SpF PLUS-Mini and SpF XL IIb Implantable Spinal Fusion Stimulators due to potential release of cytotoxic chemical higher than allowed levels. The company also recalled its Comprehensive Reverse Shoulder in June 2016 owing to high fracture rate.

Global Orthopedic Devices Market: Competitive Landscape

  • This report profiles major players in the global orthopedic devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global orthopedic devices market is highly fragmented, with the presence of a number of international as well as regional players
  • Leading players operating in the global orthopedic devices market are
    • Stryker
    • DePuy Synthes
    • Zimmer Biomet
    • Smith & Nephew
    • Medtronic
    • DJO Global
    • Arthrex, Inc
    • NuVasive, Inc.
    • Globus Medical

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Global Orthopedic Devices Market: Key Developments

Key players in the global orthopedic devices market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global orthopedic devices market. A few expansion strategies adopted by players operating in the global orthopedic devices market are:

  • In March 2018, Smith & Nephew launched Q-FIX CURVED, Q-FIX MINI and SUTUREFIX CURVED All-Suture Anchor systems to expand its Sports Medicine portfolio.
  • In March 2018, Stryker Spine received FDA 510(k) clearance to market Tritanium TL, a 3D-printed curved posterior lumbar interbody fusion cage which is hollow implant comprises solid and porous structures that are simultaneously built with AMagine, Stryker’s proprietary additive manufacturing method.
  • In June 2017, DePuy Synthes acquired Innovative Surgical Solutions, LLC, which operates as Sentio, LLC. Innovative Surgical Solutions is engaged in marketing of nerve localization technology for spine surgery. This acquisition is expected to enhance Johnson & Johnson’s medical devices segment and strengthen DePuy Synthes’ position in the spine market.

The report on the global orthopedic devices market discussed individual strategies, followed by company profiles of manufacturers of orthopedic devices. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global orthopedic devices market.

TMR’s report on the global orthopedic devices market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global orthopedic devices market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global orthopedic devices market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global orthopedic devices market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global orthopedic devices market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global orthopedic devices market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global orthopedic devices market.

The report delves into the competitive landscape of the global orthopedic devices market. Key players operating in the global orthopedic devices market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global orthopedic devices market that have been profiled in this report.

Key Questions Answered in Global Orthopedic Devices Market Report

  • What is the scope of growth of product companies in the global orthopedic devices market?
  • What will be the Y-o-Y growth of the global orthopedic devices market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global orthopedic devices market?
  • Will North America continue to be the most profitable market for orthopedic devices providers?
  • Which factors are anticipated to hamper the growth of the global orthopedic devices market during the forecast period?
  • Which are the leading companies in the global orthopedic devices market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global orthopedic devices market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global orthopedic devices market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the orthopedic devices market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the orthopedic devices market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global orthopedic devices market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global orthopedic devices market more reliably and accurately.

Regional Segmentation of Orthopedic Devices Market

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Global Orthopedic Devices Market - Segmentation

Product

Joint reconstruction

Spinal devices

Orthopedic braces and supports

Trauma fixation

Orthopedic accessories

Orthopedic prosthetics

Arthroscopy devices

Others

End-user

Hospitals

Orthopedic clinics

Ambulatory surgical centers

Others

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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Orthopedic Devices Market

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