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Orthopedic Devices Market

Global Orthopedic Devices Market Size, Share, Development, Growth and Demand Forecast to 2023

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Report Code: LS10053
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Orthopedics is a branch of medicine that is concerned with the prevention of disorders, deformities or injuries of the skeleton and associated structures such as tendons and ligaments. Orthopedic devices are used to implant and restore the skeletal structure and joint movement after the disorders such as fractures, abnormal growth of bones, soft tissue damage and other deformities. Orthopedic devices had been used effectively in reducing pain, restoring mobility and improving quality of life of the consumers across the globe. Before implanting an orthopedic device into patient’s body, doctors check x-ray and scan report of patient to diagnose the disorders. Doctors implant orthopedic devices that are well suited for the patient’s body, as most of the devices have to remain in the body for the remaining life of patient.

In orthopedic devices, generally metal alloys are used due to their properties such as rigidity, fracture toughness, corrosion resistance, long fatigue life, stiffness, and biocompatibility. Whereas, polymers are used as articulating surfaces of joint replacements and as a cementing material between implant surfaces and bone. Polyether ether ketone (PEEK) implants are generally used for spinal implants as it has advantages such as high mechanical strength.

The various devise types available in the global orthopedic devices market are joint reconstruction, orthobiologics, trauma fixation devices, spinal devices, orthopedic accessories, orthopedic braces, and arthroscopic devices.

Orthopedic devices are surgically implanted or externally attached through simple persistent procedures. The devices are categorized as joint implants, internal fixation and external fixation devices. The orthopedic devices are used for various anatomical locations such as hip, knee, shoulder, spinal, elbow, foot and ankle orthopedic devices. Further, the orthopedic devices market can be categorized as knee orthopedic joint implants, knee orthopedic internal fixation devices, knee orthopedic external fixation devices, elbow orthopedic joint implants, elbow orthopedic internal fixation devices, elbow orthopedic external fixation devices, spinal orthopedic joint implants, spinal orthopedic internal fixation devices, shoulder orthopedic joint implants, shoulder orthopedic internal fixation devices and shoulder orthopedic external fixation devices.

In Asia-Pacific, demand for minimally invasive surgeries and anatomy specific implants are one of the major opportunities for the orthopedic devices market. Some of the factors driving the growth of orthopedic devices market are rise in geriatric population and obesity, prevalence of osteoporosis and osteoarthritis, and road and sports injuries. Emerging technologies such as bio-absorbable implants and minimal invasive procedures are also supporting the orthopedic devices market to grow at a significant rate. Whereas, continuous product recalls, economic crises, generic orthopedic products and political reforms are some of the factors creating hindrances in the overall growth of orthopedic devices market.

North America dominates the global orthopedic devices market, attributed to high per capita expenditure on the healthcare services in the region. Asia-Pacific is the fastest growing market for orthopedic devices owing to the large population, increasing incidence of lifestyle diseases and development of modern healthcare service industry in the region.

Some of the major companies operating in the orthopedic devices market are Zimmer Holdings Inc., Medtronic Inc., Wright Medical Technology Inc., Orthofix Holdings Inc., NuVasive Inc., TriMed Inc., Stryker Corporation, Smith & Nephew PLC, Small Bone Innovations Inc., Solana Surgical LLC, DePuy Synthes Inc. Integra LifeSciences, Aesculap, Inc., and ArthroCare Corporation.

Report Coverage

  • Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
  • Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
  • Uncovers potential demands in the market
  • Porter analysis identifies competitive forces within the market
  • Provides information on the historical and current market size and the future potential of the market
  • Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
  • Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger acquisitions
  • Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.

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