Orthopedic Devices Market is Poised to Grow Moderately at a CAGR of 4.0% During Forecast Period 2021-2031
250 Pages Orthopedic Devices Market Survey by Fact MR, A Leading Business and Competitive Intelligence Provider
According to Fact MR’s recent market research, sales of Orthopedic Devices to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Orthopedic Devices market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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To offer an in-depth overview, the report provides sales projections for over 20 countries. It also identifies segments exhibiting maximum growth.
Digital Transformation in Healthcare Presenting Opportunities for Orthopedic Devices Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Orthopedic Devices market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Orthopedic Devices market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Orthopedic Devices
The report offers actionable and valuable market insights of Orthopedic Devices. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Orthopedic Devices Market across various industries and regions.
This newly published and insightful report sheds light on Market Insights of Orthopedic Devices, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Orthopedic Devices Market.
Global Orthopedic Devices: Market Segmentation
Fact.MR has studied the global orthopedic devices market with detailed segmentation on the basis of product, end-user, and region.
- 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
- Spinal Devices:
- Spinal Fusion Devices
- Spinal Non-fusion Devices
- Trauma Fixation:
- Metal Plates & Screws
- Nails and Rods
- 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
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- Orthopedic Clinics
- Ambulatory Surgical Centers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than the addressee(s) is unauthorized and prohibited.”
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.
“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.
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.
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Report Benefits & Key Questions Answered
- Orthopedic Devices Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Orthopedic Devices Historical volume analysis: The report provides a comparison of Orthopedic Devices’s historical sales and projected sales performance for 2021-2031.
- Orthopedic Devices Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Orthopedic Devices market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Orthopedic Devices Consumption by demographics: The report investigates consumer behavior affecting Orthopedic Devices demand outlook for the assessment period. Effect of their keenness for digital trends on Orthopedic Devices market is carefully analyzed
- Post COVID consumer spending on Orthopedic Devices: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Orthopedic Devices market growth.
More Valuable Insights on Orthopedic Devices Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Orthopedic Devices, Sales and Demand of Orthopedic Devices, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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