According to Fairfield Market Research, the Global Market for Orthopedic Devices is Expected to Reach US$ 59,688.8 Mn by 2025 from US$ 44,034.9 Mn in 2020
London, July 06, 2022 (GLOBE NEWSWIRE) — Despite considerable cessation in demand amid the COVID-19, the global orthopedic devices market is expected to pick up in 2021. Up from the market valuation of around US$44 Bn recorded in 2020, sales are projected to observe a healthy outlook between 2021 and 2025. A new study of Fairfield Market Research suggests that the market will gain significantly from the orthopedic procedures regaining their momentum after a major setback in 2020.
Key Highlights
Orthopedic devices market size slated to expand at a CAGR of 6.3% during the periof of forecast
Sports medicine, osteology, and orthobiology represent highly lucrative categories
Smart implants continue to trend
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High Prevalence of Orthopedic Conditions Boosts Market
An increasing number of instances involving road accidents, sports injuries, and traumatic orthopedic injuries predominantly drives demand for orthopedic devices worldwide. An expanding geriatric population, extending life expectancy, and age-associated orthopedic conditions will remain an important factor fostering the performance of orthopedic devices market through the end of forecast period. Cost competitiveness is likely to be the prime area of focus for orthopedic device makers in addition to greater emphasis on devices’ marketing and commoditization, marks the study.
Biodegradable Implants to Remain a Popular Trend
An increasing number of knee and hip procedures is pushing the need for joint reconstruction. Replacement of extremities is also likely to remain a strong push factor for market growth. With material innovations accelerating, orthopedic devices are getting a sustainable makeover. Growing availability, and acceptance of biodegradable implants is expected to be an important stimulant to performance of orthopedic devices market. Smart implants have also been recently emerged as a popular trend, marks the report.
Developing Regional Markets to Set the Stage for Orthopedic Devices Market
North America, with the maximum sales contribution, remains dominant in orthopedic devices market. However, the market is likely to discover greater potential in developing markets across Asia Pacific, and Southeast Asia during the period of assessment. The report highlights a growing role of medical tourism in pushing the attractiveness of Asian markets. While the market is nearing maturity in North America, and Europe, companies are expected to unlock multiple remunerative opportunities in developing regions, says the report.
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Orthopedic Devices Market : Key Market Players
Stryker Corporation, Wright Medical (Stryker), Medtronic (Spine Division), Zimmer Biomet, DePuy Synthes (J&J), Globus Medical, Acumed LLC (Colson Associates, Inc.), and Smith+Nephew
REPORT SCOPE & SEGMENTATION:
REPORT FEATURES | DETAILS |
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End User Coverage | |
Geographical Coverage |
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Report Highlights | Key Market Indicators, Market Estimates and Forecast, Market Dynamics, Orthopedic Disease Indications Epidemiology, COVID-19 Impact Analysis, Competitive Landscape, Company Profiles, Category, Region-wise Trends |
Table of Contents:
1. Executive Summary
1.1. Global Orthopedic Devices Market Outlook, 2017 – 2025 (US$ Million)
1.2. Global Orthopedic Devices Incremental Opportunity, 2020 – 2025 (US$ Million)
1.3. Key Industry Developments
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Market Drivers
2.2.2. Market Restraints
2.2.3. Market Opportunities
2.3. Technological Advancements
2.4. Regulatory Scenario
2.5. Orthopedic Diseases Prevalence
2.6. Number of Orthopedic Procedures
2.7. COVID-19 Impact Analysis
3. Global Orthopedic Devices Market Outlook, 2017 – 2025
3.1. Global Orthopedic Devices Market Outlook, By Product, 2017 – 2025
3.1.1. Key Highlights
3.1.2. Global Orthopedic Devices Market Outlook, by Product, Value (US$ Million), 2017 – 2025
3.1.2.1. Joint Reconstruction
3.1.2.1.1. Knee
3.1.2.1.2. Hip
3.1.2.1.3. Extremities
3.1.2.2. Spine
3.1.2.3. Trauma
3.1.2.4. Sports Medicine
3.1.2.5. Orthobiologics
3.1.2.6. Others
3.1.3. Global Orthopedic Devices Market Share and BPS Analysis, by Product, 2020 and 2025
3.1.4. Global Orthopedic Devices Market Attractiveness Analysis, by Product, 2020 – 2025
3.2. Global Orthopedic Devices Market Outlook, By End User, 2017 – 2025
3.2.1. Key Highlights
3.2.2. Global Orthopedic Devices Market Outlook, by End User, Value (US$ Million), 2017 – 2025
3.2.2.1. Hospitals
3.2.2.2. Specialty Clinics
3.2.2.3. Ambulatory Surgical Centres
3.2.2.4. Others
3.2.3. Global Orthopedic Devices Market Share and BPS Analysis, by End User, 2020 and 2025
3.2.4. Global Orthopedic Devices Market Attractiveness Analysis, by End User, 2020 – 2025
3.3. Global Orthopedic Devices Market Outlook, By Region, 2017 – 2025
3.3.1. Key Highlights
3.3.2. Global Orthopedic Devices Market Outlook, by Region, Value (US$ Million), 2017 – 2025
3.3.2.1. North America
3.3.2.2. Europe
3.3.2.3. Asia Pacific
3.3.2.4. Latin America
3.3.2.5. Middle East & Africa
3.3.3. Global Orthopedic Devices Market Share and BPS Analysis, by Region, 2020 and 2025
3.3.4. Global Orthopedic Devices Market Attractiveness Analysis, by Region, 2020 – 2025
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