Categories
Pharmaceutical

Demand for Joint Reconstruction Is Set to Expand Modestly, Registering a Moderate CAGR of 4.0% By 2026

The global demand for orthopedic devices is set to expand modestly, registering a moderate CAGR of 4.0% throughout the forecast period (2020-2026).

A rapidly expanding geriatric population pool as well as increasing incidence rates of accidents and sports injuries are major factors contributing to the growth of the global orthopedic devices market. Moreover, technological advancements such as minimally invasive surgeries, artificial intelligence, 3D-bioprinting and tissue engineering, custom-made implants and development of variable axis screw systems are anticipated to provide a significant boost to the market.

However, the coronavirus pandemic is anticipated to limit growth prospects, with patients delaying elective surgical procedures in favor of treatment for COVID-19 infected patients. However, with social distancing measures being relaxed, the market is expected to witness a gradual resurgence, attributed to the restoration of production and manufacturing capacities of key industrial players, thus ameliorating the demand-supply gap.

For More Insights Into The Market, Request a Sample of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=4780

“Rising emphasis on technological innovations is anticipated to accelerate the growth of the global orthopedic devices market. Key manufacturers are exploiting this knowledge to develop new pipeline products,” infers a Fact.MR analyst.

global orthopedic devices market 02

Global Orthopedic Devices Market: Segmentation

Product

  • Joint Reconstruction:
    • Hip Replacement:
    • Total Hip Replacement Implant
    • Partial Hip Replacement Implant
    • Hip Resurfacing Implant
    • Revision Hip Replacement Implant
  • Knee Replacement:
    • Total Knee Replacement Implant
    • Partial Knee Replacement Implant
    • Revision Knee Replacement Implant
    • Elbow & Shoulder Replacement
    • Others
  • 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 and Support:
    • Upper Extremity Braces and Support
    • Low Extremity Braces and Support
  • Orthopedic Accessories:
    • Bone Cement
    • Casting System
    • Removal Systems
  • Others

End-User

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers
  • Others

Share Your Requirements & Get Customized Reports – https://www.factmr.com/connectus/sample?flag=RC&rep_id=4780

Key Takeaways of Global Orthopedic Devices Market Study:

  • By product, the joint reconstruction segment shall dominate the market, acquiring a market share exceeding 30%. This is followed by the spinal devices segment, capturing 1/4th of the global orthopedic devices market. A large patient pool awaiting joint replacements and technological advancements in neurological surgeries are key growth drivers.
  • By end-user, orthopedic clinics are expected to gain significant traction. The segment is poised to expand 1.3x in the forecast period. However, the hospitals segment shall continue its dominance, capturing nearly half of the global orthopedic devices market.
  • By region, North America is expected to dominate the global orthopedic devices market, while Asia-Pacific shall expand the fastest. Growth in demand for orthopedic surgeries has attracted key market players to establish their businesses in North America while rising per capita healthcare expenditure is stimulating market growth in Asia-Pacific.

Access Research Methodology Prepared By Experts – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4780

Following Questions Answers Covered in the Report are:

  • How will the global Orthopedic Devices Market perform during the forecast period? What will be the market size in terms of value and volume?
  • Which segment will drive the global Orthopedic Devices Market? Which regional market will show extensive growth in the future? What are the reasons?
  • How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
  • What are the key strategies adopted by players to sustain themselves in the global Orthopedic Devices Market?
  • How will these strategies influence the market growth and competition?

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
  • EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
  • CIS & Russia
  • Japan
  • Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
  • Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)

Get More Insights –https://www.biospace.com/article/increasing-r-and-d-and-improved-healthcare-spending-are-key-factors-pushing-development-of-waldenstrom-macroglobulinemia-market-growth-states-fact-mr/

The Report Covers Exhaustive Analysis On:

  • Market Segments
  • Market Dynamics
  • Market Size & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Robust Product Portfolio, Key to Market Players’ Strong Presence:

The global orthopedic devices market is consolidated, dominated by the following top four players: Zimmer Biomet, Johnson & Johnson, Stryker and Smith & Nephew. Collectively, these companies account for nearly 55% of the market share. Therefore, the degree of competition from new entrants is quite low. Innovations in 3D printing and personalization implants technology are anticipated to fuel the growth of emerging players in the hip implants sub-segment. Important players in the hip implants segment include Smith & Nephew, DJO Global, Inc., Wright Medical Group N.V., and Exactech, Inc.

In 2017, Zimmer Biomet Holdings dominated the hip implants sub-segment, with a strong brand image and robust product portfolio. Its products included the Taperloc Hip System, the Arcos Modular Hip System and the G7 Acetabular System. Likewise, Stryker has a robust product portfolio, offering devices in the craniomaxillofacial, foot & ankle, joint replacement, spine and trauma & extremities segments. Its brands are Allograft Bio Implants, Delta, Advanced Midface Distractor and MEDPOR TITAN 3D Orbital Floor to name a few.

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Corporate Headquarter:
Unit No: AU-01-H Gold Tower (AU),
Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Visit Our Website: https://www.factmr.com

Leave a Reply

Your email address will not be published. Required fields are marked *