Orthopedic Devices Market Insights, Revenue and Gross Margin

Orthopedic Devices Market Insights, Revenue and Gross Margin

Apr 6, 2021, 2:09:18 PM Business


Orthopedic Devices Market (By Product: Spinal Devices, Orthopedic Braces and Supports, Arthroscopy Devices, Trauma Fixation and Joint Reconstruction, Orthopedic Prosthetics and Orthopedic Accessories; End User: Orthopedic Clinics, Hospitals and Ambulatory Surgical Centers) - Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 - 2027

Global Orthopedic Devices Market 2020 to 2027

Market Analysis and Insights

The global orthopedic devices market is expected to gain market growth in the forecast period of 2020 to 2027. Precedence Research analyses the market to account by 2027 growing with a CAGR of 2.87% during the forecast period of 2020 to 2027 and predicted to surpass around USD 56.23 billion by 2027. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, market share analysis, and the overall market environment.

Orthopedic devices are intended to inhibit or manage musculoskeletal harms, while straighten fragile limbs or joints. They are employed to substitute missing bone or joints or to offer support to the injured bone. Orthopedic surgeries that integrate robotics are less invasive and provide reproducible precision, subsequent in less hospital stays and quicker recovery times. In Switzerland, La Source clinics tasted a reduction in average hospitalization from 10 to 6 days by means of surgical robots. However, this technology is still costly to obtain, and robust, evidence-based studies are desirable to validate that robotic technology front-runners to improved outcomes.

Orthopedic devices are manufactured with the help of stainless steel and titanium alloys for strength, and plastic coating works as synthetic cartilage. In orthopedics, internal fixation is a surgery that involves incorporation of implants to heal the injured bone. Most general orthopedic medical devices are the pins, rods, screws, and plates that are utilized for fastening of fractured bones while they heal. At present, several biotechnology firms are employing stem cells for orthopedic treatment. For instance, BioTime emphases on stem cell therapies for age-linked degenerative ailments, Bio-Tissue on orthobiological solutions for cartilage flaws and IntelliCellBioSciences on adipose-derived stem cells for orthopedic diseases.

Growth Factors

The global orthopedic devices market is expected to grow at a noteworthy rate during the estimate period on account of the increasing elderly population across the world. Aged people are highly prone to progress bone associated disorders which is estimated to upsurge demand for countless orthopedic devices and implants from this population. Further, escalating frequency of obesity and diabetes, absence of physical activity, poor diet, and intensifying trend of alcohol consumption and smoking are some more factors that can lead injury to bone health. This will offer alluring prospects for orthopedic devices market in the near future.

The number of people undertaking joint replacement surgeries like total knee and hip replacement has augmented gradually and endures to upsurge, owing to a growth in the aging population. The upsurge in the musculoskeletal diagnoses and osteoporosis-related fractures is motivating the demand for orthopedic implants amongst the populace aged 65 years or older. The global orthopedic device market is compelled by the rising government focus on plummeting disease charge burden due to rising incidence of aged population.

Report Highlights

  • Global orthopedic devices market is extremely fragmented. Market companies emphasis on constant product advancements and proposing orthopedic devices at competitive prices, particularly in emerging nations.
  • High pervasiveness of orthopedic conditions along with implementation of progressive treatment procedures is predicted to prosper growth of the market in the U.S.
  • Minimally invasive orthopedic devices that do not need repeat procedures are estimated to lift the quantity of procedures in the established and emergent regions.

Market Segmentation

The global orthopedic devices market has been segmented based on

By Product Type

  • Joint Reconstruction
  • Knee Replacement
  • Revision Knee Replacement Implants
  • Total Knee Replacement Implant
  • Partial Knee Replacement Implant
  • Elbow & Shoulder Replacement
  • Hip Replacement
  • Hip Resurfacing Implant
  • Total Hip Replacement Implant
  • Partial Hip Replacement Implant
  • Revision Hip Replacement Implant
  • Others
  • Orthopedic Prosthetics
  • Upper Extremity Orthopedic Prosthetics
  • Lower Extremity Orthopedic Prosthetics
  • Spinal Devices
  • Spinal Non-fusion Devices
  • Spinal Fusion Devices
  • Trauma Fixation
  • Nails and Rods
  • Metal Plates & Screws
  • Pins/Wires
  • Others
  • Arthroscopy Devices
  • Orthopedic Accessories
  • Removal systems
  • Bone cement
  • Casting system
  • Orthopedic Braces and Supports
  • Upper Extremity Braces and Supports
  • Low Extremity Braces and Supports
  • Others

By End-user

  • Ambulatory Surgical Centers
  • Hospitals
  • Orthopedic Clinics
  • Others

Regional Analysis

The geographical analysis of the global orthopedic devices market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.

The North American market is again segmented into the US, Canada, and Mexico. Coming to the European market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global orthopedic devices market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of Middle East & Africa).

Key Companies & Market Share Insights

Companies financing significantly in robotics include Stryker, Zimmer Biomet, Smith & Nephew, Mazor Robotics, OMNlife Science Inc., Think Surgical, Verb Surgical and Intuitive Surgical. For illustration, Zimmer Biomet incorporated the ROSA robotic device utilized for spine and brain surgeries to its product selection via its acquisition of Medtech. Stryker acquired Mako Surgical Corp. in order to construct total knee and total hip replacement robotic products. Further, Smith & Nephew acquired Blue Belt Holdings for partial knee replacements for a robotic-assisted surgery product.

Some of the noticeable players functioning in the global orthopedic devices market include Smith & Nephew, Stryker, DePuySynthes, Zimmer Biomet, Medtronic Spinal, Arthrex, Inc, and DJO Global among others.

What Our Report Offers:

1. orthopedic devices Market estimates of all the key segments, sub-segments, and the regional markets from 2020 to 2027.

2. Market Trends (Drivers, Restraints, Opportunities, Threats, Challenges, Investment Analysis, and Key Proposals).

3. Market share appraisals for all the local and the global regional segments.

4. Strategic recommendations in orthopedic devices key business sections in light of the market estimations.

5. Competitive analysis detailing the key growth trends and inclinations.

6. Market share and size of all the foremost industry players.

7. Strategic proposals for the new participants.

8. Company profiling with comprehensive approaches and methodologies, financials, and latest technological developments.

Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1027

About Us

Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

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