From 2023 to 2033, the market for orthopedic devices is anticipated to grow at a CAGR of 4%. The market is currently estimated to be worth US$ 45 billion, and by the end of 2033, it is predicted to be worth US$ 67 billion.
The market for joint reconstruction devices is primarily being driven by an increase in joint replacement and pain management operations, as well as a rise in the prevalence of joint discomfort and injured joints among the senior population.
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Why are Sales of Orthopedic Devices Surging Worldwide?
The sales of orthopedic devices are surging worldwide due to the growing prevalence of musculoskeletal disorders, an aging global population, and advances in technology. Musculoskeletal disorders, such as osteoarthritis, are currently the leading cause of disability worldwide, and their prevalence is expected to increase as the population ages. At the same time, technological advancements have made orthopedic devices more durable, effective, and affordable, leading to increased demand. Furthermore, the number of orthopedic procedures has risen sharply, as more people are opting for minimally invasive procedures that require orthopedic devices.
Key Companies Profiled
- Zimmer Biomet
- Stryker Corporation
- Smith & Nephew
- DJO Global, Inc.
- Exactech, Inc.
- Medtronic PLC
- DePuy Synthes
- Conmed Corporation
- Donjoy, Inc.
- NuVasive, Inc.
The Orthopedic Devices Market research offers a thorough analysis of the business models, important market dynamics, including the drivers, restraints, trends, and opportunities, key business models, and respective market shares of some of the leading key players in the market. Along with an in-depth analysis of the major driving factors, the detailed research provides market data regarding revenues, segment-specific data, regional data, and territorial data. Providing unique information about the market’s anticipated growth from 2023 to 2033 is the primary goal of the Orthopedic Devices Market report.
Osteoporosis and osteoarthritis are becoming more common in the elderly population. Joint reconstruction, spinal devices, trauma fixation, orthopedic prosthetics, arthroscopy devices, orthopedic braces & support, and orthopaedic accessories are the different product categories of the market. Devices for joint reconstruction hold a 50% market share worldwide.
During treatments to replace or repair joint bones, joint reconstruction devices are used. The prevalence of a sizable patient population in need of knee, elbow, and shoulder replacement surgeries and rising R&D spending by significant market participants are the primary factors driving the uptake of joint reconstruction devices.
Key Segments of Orthopedic Devices Industry Research
- By Product :
- Joint Reconstruction:
- Hip Replacement
- Total Hip Replacement Implants
- Partial Hip Replacement Implants
- Hip Resurfacing Implants
- Revision Hip Replacement Implants
- Knee Replacement:
- Total Knee Replacement Implants
- Partial Knee Replacement Implants
- Revision Knee Replacement Implants
- Elbow & Shoulder Replacement
- Others
- Hip Replacement
- Spinal Devices
- Spinal Fusion Devices
- Spinal Non-fusion Devices
- Trauma Fixation
- Metal Plates & Screws
- Pins/Wires
- Nails and Rods
- Others
- Orthopedic Prosthetics
- Lower Extremity Orthopedic Prosthetics
- Upper Extremity Orthopedic Prosthetics
- Arthroscopy Devices
- Orthopedic Braces & Supports
- Upper Extremity Braces and Supports
- Low Extremity Braces and Supports
- Orthopedic Accessories
- Bone Cement
- Casting Systems
- Removal Systems
- Others
- Joint Reconstruction:
- By End User :
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
