Orthopedic Devices Market trends research and projections
Category: #health  By Rahul Varpe  Date: 2020-04-21
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Orthopedic Devices Market trends research and projections

Orthopedic Devices Market is set to exceed USD 53 billion by 2024 according to this new research report. Increasing geriatric population, growing prevalence of arthritis and osteoporosis, and rising demand for minimally invasive surgeries should fuel industry growth over the forecast timeframe. Advancements in technology such as in 3D printing, smart implants, and robot-assisted surgeries will further stimulate industry growth.

Rising number of road accidents along with increasing sports related injuries will enhance the business growth. Moreover, poor diet intake, lack of physical activity and adversely changing lifestyle will also help in driving the orthopedic devices market.

Orthopedic devices market growth may be hindered by the dearth of skilled professionals and lack of uniform reimbursement scenario. Also, the high cost of surgeries, strict FDA regulations and biocompatibility issues, and low per capita expenditure in emerging countries will impede the business growth.

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Joint reconstruction market should grow at lucrative rate due to increasing unmet needs of bone related infirmities. Advancement in technology such as minimally invasive implants will fuel the business of joint reconstruction.

Trauma fixation will foresee substantial rise during the forecast period due to prevalence of road accidents and sports related injuries. Increasing occurrence of degenerative disc related disorders in elderly population will fuel the spinal devices market.

U.S. orthopedic devices market should fuel at a significant rate over the forecast period owing to increase in the elderly population base, rising prevalence of arthritis, osteoporosis and musculoskeletal disorders, technological advancements, and rising demand for minimally invasive surgery. UK accounted for largest European revenue share due to the dominance of bone related disorders and presence of large number of elderly population.

Rising geriatric population base and increasing occurrence of spine related disorders will boost the orthopedic devices market in China and India. Availability of advanced healthcare treatment and growing awareness amongst the patients will spur the regional growth.

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The technological advancements in orthopedic devices market such as customized implants, smart implants with microprocessors for instantaneous data transmission, and other following products will propel business. Moreover, gene therapy techniques and tissue engineering are going to add potential benefits to the industry.

Major industry players operating in orthopedic devices market are Medtronic Spinal, Stryker, Zimmer Biomet, DJO Global, ConforMIS, NuVasive, Globus Medical, MicroPort Scientific (Wright medical group), Medacta, DePuy Synthes, Smith and Nephew, Waldemar Link, Artherex, Conmed, Alphatec Spine, Trimed, Implantate and Integra Lifesciences. The key strategies followed by these companies are new product launches and geographical expansion. Strategic acquisitions and mergers will help industry players to preserve their position in highly competitive market.



About Author

Rahul Varpe

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Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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