Orthopedic Devices Industry Is Expected To Reach A Size Of U...| MENAFN.COM

Tuesday, 21 March 2023 02:22 GMT

Orthopedic Devices Industry Is Expected To Reach A Size Of US$ 67 Billion By The End Of 2033

(MENAFN- Ameliorate Digital Consultancy) The global orthopedic devices market is estimated to evolve at a CAGR of 4% from 2023 to 2033. At present, the market is valued at US$ 45 billion and is thus expected to reach a size of US$ 67 billion by the end of 2033.

Increasing joint replacement and pain management procedures, as well as a rise in the prevalence of joint pain and damaged joints among the elderly population, are major factors driving the demand for joint reconstruction devices.

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The demand for orthopedic devices is projected to increase substantially over the forecast period due to the increasing prevalence of musculoskeletal disorders, technological advancements in the field of orthopedic devices and a growing population of elderly people. Additionally, the rising awareness of orthopedic procedures and growing disposable incomes of people in developing countries are also expected to boost the demand for orthopedic devices. Moreover, the increasing focus of major players on the development of advanced orthopedic devices and the growing popularity of minimally invasive treatments are expected to further drive the market growth.

In-depth Analysis on Competition Analysis:

The report sheds light on leading manufacturers of Orthopedic Devices, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering Orthopedic Devices has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

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Key Companies

  • Johnson Controls International Plc.
  • Honeywell International Inc.
  • Napco Security Technologies Inc.
  • Nittan Co. Ltd.
  • Siemens AG
  • Halma Plc.
  • United Technologies Corp.
  • Robert Bosch GmbH
  • Eaton Corporation

Global Orthopedic Devices Market Regional Insights

The North American orthopedic devices market is poised to register the maximum market share, amounting to nearly half and expanding at a CAGR of 3.9% . Asia-Pacific is anticipated to gain significant traction, with a projected CAGR of 4.4% and a market share exceeding 1/5th . The North American market is anticipated to reach a value of US$ 31 Bn while the Asia-Pacific market shall be valued at US$ 13 Bn by 2026-end.

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Orthopedic Devices Market Segmentations:

  • By 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
  • By End-User :
    • Hospitals
    • Orthopedic Clinics
    • Ambulatory Surgical Centers
    • Others
  • By Region :
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)


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