Orthopedic Devices Market Report Overview
The report provides an analysis of both the current and future conditions in the Orthopedic Devices market, delivering valuable insights and the latest information across essential segments. Within the context of the Orthopedic Devices market, the study covers crucial research areas like revenue generation, sales, and overall income. In order to offer a thorough evaluation, the report presents two distinct scenarios that encompass the entire range of the Orthopedic Devices market, including the projected Orthopedic Devices sales during the forecast period.
Orthopedic Devices Market was valued at USD 60.84 Billion in 2022, and it is expected to reach USD 95.79 Billion by 2029, exhibiting a CAGR of 6.7 % during the forecast period (2023-2029)
Orthopedic Devices Market Report Scope and Research Methodology
The primary goal of the Orthopedic Devices market report is to offer a comprehensive analysis using clear and straightforward language. The study encompasses all the prominent companies and key aspects within the Orthopedic Devices market, evaluating various measures like volume, share, growth, and strategies. This research not only assists established businesses in refining their operational plans but also provides future entrants with strategic recommendations. MMR's research undertakes a thorough exploration of the Orthopedic Devices market, highlighting the foremost global companies based on metrics such as volume, share, strategies, and growth. The report further supplies strategies applicable to both existing industry participants and prospective Orthopedic Devices market entrants. Moreover, the global report for the Orthopedic Devices market presents a meticulous breakdown of regional share distribution, accompanied by an examination of growth drivers in those specific regions.
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Orthopedic Devices Market Regional Insights
North America dominated the global orthopedic device market in 2022, with a revenue share of more than 46%. High demand for modern healthcare services is likely to boost the regional market, owing to the presence of well-developed healthcare infrastructure, industry heavyweights, and reimbursement coverage. The region's orthopaedic surgery volume is being fueled by an ever-increasing target patient population as a result of ageing and increased vehicle accidents. The increasing frequency of orthopaedic disorders, along with the use of improved treatment technologies, is expected to drive market expansion in the United States.
Europe is the second-largest market due to a rise in operations, increased knowledge of technologically sophisticated orthopaedic equipment, and an increase in healthcare expenditure by the region's population. However, Asia Pacific is expected to grow at a faster rate during the forecast period. Factors such as a big patient pool and rising healthcare spending in the region are complementing Asia Pacific market expansion. Furthermore, the rising purchasing power of the public in emerging nations such as India and China will affect market growth.
Orthopedic Devices Market Segmentation
by Devices Type
Joint Reconstruction Devices
Knee
Hip
Extremities
Spinal Devices
Spinal Fusion Devices
Spinal Non-Fusion Devices
Trauma Devices
Arthroscopy Devices
Orthobiologic Devices
Others
the market is segmented into joint reconstruction devices, spinal devices, trauma devices, arthroscopy devices, orthobiologics, and others. In 2019, the joint reconstruction category had the lion's share of the market. The segment is expanding because to an increase in surgeries such as knee and hip replacements, shoulder and extremity reconstructions, and other musculoskeletal procedures involving these joints. The arthroscopy devices (sports medicine/soft tissue repair) sector is expected to develop at a substantial rate during the forecast period, owing to an increase in sports-related soft tissue injuries and the increased launch of innovative products in this field.
by End-User
Hospitals
Orthopedic Clinic
Ambulatory Surgical Centers
Others
Hospitals is estimated to be a dominating end user segment during the forecast period. Orthopedic devices are mostly used in hospitals because they are surgically implanted. Hospitals treat a high number of patients who have suffered orthopaedic injuries. Aside from therapy, effective reimbursement policies given by hospitals are a crucial element contributing to the increasing proportion of patients being treated in hospitals. However, growing the use of minimally invasive treatments is expected to result in a preference for outpatient surgical centres.
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Orthopedic Devices Market Key Players
1. Johnson & Johnson
2. Medtronic
3. Smith & Nephew Plc.
4. Aap Implantate Ag
5. Aesculap Inc.
6. Alphatec Spine
7. Amedica Corporation
8. Apatech Ltd.
9. Arthrocare Corporation
10. Biomet Inc.
11. Conmed Corporation
12. Depuy Inc.
13. Donjoy Inc.
14. Exatech Inc.
15. Globus Medical Inc.
16. Integra Lifesciences Holding Corporation
17. Medtronic Inc.
18. Nuvasive Inc.
19. Stryker Corporation
20. Synthes Inc.
21. Zimmer Holding Inc.
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Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2021)
- Past Pricing and price curve by region (2017 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments and their sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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