The orthopedic devices market will expand with the rise in global geriatric population, escalating prevalence of arthritis and osteoporosis, and consistently rising demand for minimally invasive surgeries.
The orthopedic devices market will expand with the rise in global geriatric population, escalating prevalence of arthritis and osteoporosis, and consistently rising demand for minimally invasive surgeries. The surge in sports injuries and increased number of road accidents generate substantial demand for orthopedic treatments for several bone-related injuries.
Increasing incidences of injuries caused by road accidents and sports injuries generate tremendous demand for orthopedic solutions. According to a Global Market Insight, Inc., report, global orthopedic devices market size is likely to surpass US$53 billion by 2025. Mentioned below are some factors driving industry outlook.
Applications in joint reconstruction surgeries
The growing prevalence of bone related infirmities is expected to steer the joint reconstruction market towards lucrative growth in the coming years. Advancements in technological medical procedures such as minimally invasive implants have witnessed substantial demand from joint reconstruction surgeries. Smart implants with microprocessors for instant data transfer, customized implants, and other innovative products in the orthopedic devices market, portrays a wide range of orthopedic solutions and treatments available to cater to the rising number of orthopedic patients.
Contrastingly, orthopedic solutions market expansion could get hampered by the lack of uniform medical reimbursement policies and the scarcity of highly skilled medical professionals. Also, factors such as low per capita income in developing countries, stringent FDA regulations, biocompatibility issues, and high cost associated with orthopedic surgeries might inversely impact the market progression.
Advanced procedures for degenerative disc disorders
The introduction of technology-driven medical innovations such as robot-assisted surgeries, smart implants, and 3D printing will enable enhanced complex surgical procedures. Also, the lack of physical activity, poor diet intake, and a growing trend of erratic lifestyle causing various bone conditions will boost the high adoption of orthopedic devices.
The existence of the latest medical procedures such as tissue engineering and gene therapy techniques provide significant growth opportunities to orthopedic devices developers. The surging number of road accidents and sports injuries will generate tremendous demand for trauma fixation procedures. The spinal devices market growth shall be driven by the rising incidences of degenerative disc-related disorders, especially in the elderly population.
To access sample pages of this report titled, “Orthopedic Devices Market Size By Product (Joint Reconstruction {Hip Replacement, Knee Replacement, Ankle Replacement, Shoulder Replacement}, Spinal Devices, Trauma Fixation Devices, Orthobiologics, Arthroscopic Devices), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
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Minimally invasive surgeries in developed nations
The U.S. orthopedic devices market is anticipated to experience exponential growth on account of an increase in demand for minimally invasive surgery and incorporation of advanced technology in medical science. There is a jump in the regional geriatric population base, escalating prevalence of osteoporosis, musculoskeletal disorders, and arthritis.
The U.K. held the largest revenue share in Europe orthopedic devices industry owing to the existence of a large elderly population base and prevalence of bone-related disorders in the region. Developed regions witness higher healthcare spending as well as the availability of the latest medical devices, bolstering the access to various treatments.
Orthopedic devices demand in India and China will be augmented by the surge in occurrences of spine-related diseases and accelerating geriatric population. Also, developing healthcare infrastructure and the awareness about advanced healthcare treatment will provide a sustainable market environment for the product manufactures.
Leading companies providing orthopedic devices worldwide include Integra Lifesciences, DJO Global, Zimmer Biomet, NuVasive, ConforMIS, Globus Medical, DePuy Synthes, Medacta, Waldemar Link, Smith, and Nephew, Conmed, Alphatec Spine, Stryker, and Medtronic Spinal. These companies are focusing on new product development and geographical expansion. Strategic mergers and acquisitions will aid these firms to consolidate their position in the highly competitive global market.
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