The global orthopedic devices market for the historical period 2017–2018 and forecast period 2019–2027, rise in percentage of population requiring orthopedic devices, increase in incidence rates of injuries related to accidents, sports, and adventure, surge in adoption of technologically advanced products are projected to drive the global orthopedic devices market during the forecast period
According to the report, the global orthopedic devices market was valued at US$ 46.1 Bn in 2018 and is anticipated to expand at a CAGR of 4.3% from 2019 to 2030
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Rise in percentage of population requiring orthopedic devices and increase in incidence rates of injuries related to accidents, sports, and adventure: Key Drivers
Increase in percentage of elderly and obese populations is likely to propel the adoption rate of orthopedic devices during the forecast period. According to the U.S. Department of Health & Human Product estimates, the U.S. will have about 72.1 million geriatric population by 2030, which is more than twice the number in 2000.
Prevalence of osteoarthritis, rheumatoid arthritis, fibromyalgia, juvenile arthritis, and other forms of orthopedic disorders is increasing primarily due to aging population, obesity, and changes in lifestyle. According to CDC, in U.S. by the year 2040, an estimated 78.4 million adults aged 18 years and older will have doctor-diagnosed arthritis, compared with the 54.4 million adults in 2013–2015.
Incidence of accidental injuries during sports, driving, and adventure has increased drastically in the last decade. A study published in January 2016 by the National Electronic Injury Surveillance System in the U.S. indicated that every year over 2 million patients visit the U.S. emergency departments for head trauma related injuries. Incidence of accidental injuries and hip fractures has also increased in the last decade.
Surge in adoption of technologically advanced products Boost Market Growth
Large number of global manufacturers who have technical expertise and core competencies are undertaking constant efforts to develop and manufacture novel orthopedic products to attract more customers. Rapid adoption rates are observed for technologies such as minimally invasive surgery (MIS), navigation technology, 3D bioprinting and tissue engineering, custom made implants, computer-aided fixation of implants, and development of variable axis screw systems.
Several major manufacturers are collaborating and partnering with emerging market entrants having novel product pipeline. For instance, in January 2017, Johnson & Johnson announced collaboration with Aspect Biosystems, a company engaged in 3D-bioprinting and tissue engineering
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Product recalls affecting market adoption rates to Hamper Market
Incidences of product recalls due to device inefficiency or manufacturing errors affect the adoption rate of these devices among surgeons and patients, thereby affecting revenue of the manufacturers
The global orthopedic devices market has seen various product recalls in the past few years. In April 2017, Zimmer Biomet Holdings, Inc. recalled its class I devices SpF PLUS-Mini and SpF XL IIb Implantable Spinal Fusion Stimulators due to potential release of cytotoxic chemical higher than allowed levels. The company also recalled its Comprehensive Reverse Shoulder in June 2016 owing to high fracture rate.
Global Orthopedic Devices Market: Competitive Landscape
This report profiles major players in the global orthopedic devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global orthopedic devices market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global orthopedic devices market are
- DePuy Synthes
- Zimmer Biomet
- Smith & Nephew
- DJO Global
- Arthrex, Inc
- NuVasive, Inc.
- Globus Medical
Global Orthopedic Devices Market: Key Developments
Key players in the global orthopedic devices market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global orthopedic devices market. A few expansion strategies adopted by players operating in the global orthopedic devices market are:
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In March 2018, Smith & Nephew launched Q-FIX CURVED, Q-FIX MINI and SUTUREFIX CURVED All-Suture Anchor systems to expand its Sports Medicine portfolio.
In March 2018, Stryker Spine received FDA 510(k) clearance to market Tritanium TL, a 3D-printed curved posterior lumbar interbody fusion cage which is hollow implant comprises solid and porous structures that are simultaneously built with AMagine, Stryker’s proprietary additive manufacturing method.
In June 2017, DePuy Synthes acquired Innovative Surgical Solutions, LLC, which operates as Sentio, LLC. Innovative Surgical Solutions is engaged in marketing of nerve localization technology for spine surgery. This acquisition is expected to enhance Johnson & Johnson’s medical devices segment and strengthen DePuy Synthes’ position in the spine market.
The report on the global orthopedic devices market discussed individual strategies, followed by company profiles of manufacturers of orthopedic devices. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global orthopedic devices market.
Key Questions Answered in Global Orthopedic Devices Market Report
- What is the scope of growth of product companies in the global orthopedic devices market?
- What will be the Y-o-Y growth of the global orthopedic devices market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global orthopedic devices market?
- Will North America continue to be the most profitable market for orthopedic devices providers?
- Which factors are anticipated to hamper the growth of the global orthopedic devices market during the forecast period?
- Which are the leading companies in the global orthopedic devices market?
Global Orthopedic Devices Market – Segmentation
- Joint reconstruction
- Spinal devices
- Orthopedic braces and supports
- Trauma fixation
- Orthopedic accessories
- Orthopedic prosthetics
- Arthroscopy devices
- Orthopedic clinics
- Ambulatory surgical centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Orthopedic Devices Market
4. Market Overview
4.1.1. Type Definition
4.1.2. Industry Evolution / Developments
4.3. Market Dynamics
4.4. Global Orthopedic Devices Market Analysis and Forecast, 2017–2027
4.4.1. Market Revenue Projections (US$ Mn)
5. Key Insights
5.1. Price Comparison Analysis (2017)
5.2. Key Potential Customers
5.3. Key Success factor of 3 players
5.4. Key Industry Developments (Mergers & Acquisitions, Funding, Business Expansion, etc.)
5.5. Key product/brand Analysis
5.6. Technological Advancements
5.7. Regulatory Scenario by Region/globally
6. Global Orthopedic Devices Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.1.1. Key Findings / Developments
6.2. Global Orthopedic Devices Market Value Forecast, by Product, 2017–2027
6.2.1. Joint reconstruction
18.104.22.168. Hip replacement
22.214.171.124.1. Total hip replacement implant
126.96.36.199.2. Partial hip replacement implant
188.8.131.52.3. Hip resurfacing implant
184.108.40.206.4. Revision hip replacement implant
220.127.116.11. Knee replacement
18.104.22.168.1. Total knee replacement implant
22.214.171.124.2. Partial knee replacement implant
126.96.36.199.3. Revision knee replacement implant
188.8.131.52. Elbow & shoulder replacement
6.2.2. Spinal devices
184.108.40.206. Spinal fusion devices
220.127.116.11. Spinal non fusion devices
6.2.3. Orthopedic braces and supports
18.104.22.168. Lower extremity
22.214.171.124. Upper extremity
6.2.4. Trauma fixation
126.96.36.199. Metal plates & screw
188.8.131.52. Nails & rods
6.2.5. Orthopedic accessories
184.108.40.206. Bone cement
220.127.116.11. Casting system
18.104.22.168. Removal system
6.2.6. Orthopedic prosthetics
22.214.171.124. Lower extremity
126.96.36.199. Upper extremity
6.2.7. Arthroscopy devices
6.3. Global Orthopedic Devices Market Attractiveness, by Product
7. Global Orthopedic Devices Market Analysis and Forecast, by End-user
7.1. Introduction & Definition
7.1.1. Key Findings / Developments
7.2. Global Orthopedic Devices Market Value Forecast, by End-user, 2017–2027
7.2.2. Orthopedic clinics
7.2.3. Ambulatory surgical centers
7.3. Global Orthopedic Devices Market Attractiveness, by Category
8. Global Orthopedic Devices Market Analysis and Forecast, by Region
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