The global orthopedic devices market is set to gain traction from the ever-increasing geriatric population across the world. As per a research published in 2015 by the United Health Foundation, every year, more than 300,000 adults belonging to the age group of 65 years and above are estimated to be hospitalized for hip fractures. Besides, around 30% of seniors fall per year. It is further leading to higher number of orthopedic injuries. Fortune Business Insights™ published this information in a recent study, titled, “Orthopedic Devices Market Size, Share & Industry Analysis, By Type (Joint Reconstruction Devices, Spinal Devices, Trauma Devices, Dental Implants, Orthobiologic Devices, Arthroscopy Devices, and Others), By End User (Hospitals, Orthopedic Clinic, Ambulatory Surgical Centers, and Others), and Regional Forecast, 2019-2026.” The study further mentions that the orthopedic devices market size stood at USD 51.33 billion in 2018 and is projected to reach USD 71.67 billion by 2026, thereby exhibiting a CAGR of 4.3% during the forecast period.
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Fortune Business Insights™ presents a list of all the companies operating in the orthopedic medical devices market. They are as follows:
- Smith & Nephew
- Zimmer Biomet
- Medical Devices Business Services, Inc. (Johnson & Johnson)
- NuVasive, Inc.
- Integra LifeSciences
- Wright Medical Group N.V.
- Össur Corporate
- Globus Medical
- Other prominent players
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This Report Answers the Following Questions:
- What are the orthopedic medical devices market trends?
- How many opportunities and challenges would the market come across in the near future?
- What are the growth drivers and barriers that the market is likely to face?
- How many segments are present in the market?
- Which companies would generate the highest share during the forecast period?
- Which region is set to remain dominant?
Drivers & Restraints-
Rising Prevalence of Musculoskeletal Diseases to Drive Growth
The American Academy of Orthopedic Surgeons, a provider of educational programs for allied health professionals and orthopaedic surgeons, published a report that affirms that every year in the Unites States alone, approximately 6.8 million patients suffering from several orthopedic injuries come to medical attention. It proves that the rising prevalence of orthopedic injuries and musculoskeletal diseases is further resulting in agonizing physical pain and limited mobility. It is expected to propel the orthopedic devices market growth during the forthcoming years. However, the surgical procedure is very expensive in nature. It may hamper the growth of the market.