The latest research report is dubbed as the first document encompassing the latest information about the Orthopedics Devices Market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Orthopedics Devices Market. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
The global orthopedics devices Market is expected to reach USD 65.29 Billion by 2027, according to a new report by Emergen Research. The demand for orthopedics devices is propelled by factors such as the rising occurrence of osteoporosis, musculoskeletal conditions, technological advancements, growing prevalence of sports accidents, increasing geriatric population, and increased obesity prevalence. Orthopedic devices are equipped for the treatment of musculoskeletal conditions by removing the hip, knee, spine, cranio-maxillofacial (CMF) bone. These also offer treatment for broken bones and muscles, smothering the recovery cycle. Orthopedic devices are designed to gain rigidity and resilience with the titanium or stainless steel alloys.
A rise in the population of elderly people is a major factor driving the growth of the market, owing to the growing occurrence of hip fractures in the elderly. Adults aged more than 65 years are assumed to be hospitalized each year for hip fractures, as published by the United Health Foundation. Approximately 30 percent of seniors are dropping last year, resulting in a rise in the number of orthopedic accidents, which increases the demand for orthopedic equipment at a substantial pace.
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Some Key Highlights from the Report
- Based on the product, accessories accounted for a revenue of USD 19.88 billion in 2019 and believed to rise with a CAGR of 4.0% in the forecast period due to reduced prices of older models are expected because of the rapid speed of innovation and improvements to generate market opportunities.
- The arthroscopic devices are expected to grow with a CAGR of 4.7% in the forecasted period due to increased sports-related soft tissue injuries and the growing launch of new products.
- The knee application held the largest market share of the Orthopedics Devices Market. The knee application of the North America region is the major shareholder of the market and held around 32.2% of the market in the year 2019, owing to the growing amount of knee surgery, coupled with the strong demand for technologies that facilitate rapid remedy.
The latest report is the most recent study that offers 360° coverage of the Orthopedics Devices industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Orthopedics Devices market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Segmental Analysis
The global Orthopedics Devices market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Orthopedics Devices sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
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Emergen Research has segmented the global Orthopedics Devices Market on the basis of product, type, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Surgical Devices
- Accessories
- Others
Type Outlook (Revenue, USD Billion; 2017-2027)
- Joint Reconstruction Devices
- Spinal Devices
- Trauma Devices
- Arthroscopy Devices
- Dental Implants
- Orthobiologics
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Hip
- Knee
- Spine
- Cranio-Maxillofacial (CMF)
- Dental
- Sports Medical, Extremities, and Trauma (SET)
This section of the report offers valuable insights into the geographical segmentation of the Orthopedics Devices market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
Regional Outlook (Revenue, USD Billion; 2017-2027)
North America
- S.
- Canada
Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
Latin America
- Brazil
- Rest of LATAM
MEA
- Saudi Arabia
- UAE
- Rest of MEA
Competitive Terrain:
The Global Orthopedics Devices Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
The leading market contenders listed in the report are as follows:
CONMED Corporation, Medtronic PLC, Zimmer-Biomet Holdings Inc., Smith Nephew PLC, Aesculap Implant Systems LLC, Stryker Corporation, Donjoy Inc., DePuy Synthes, NuVasive Inc., and B. Braun Melsungen AG, among others.
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Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Orthopedics Devices market.
- The report marks the notable developments that have recently taken place in the Orthopedics Devices industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Orthopedics Devices market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
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Key questions addressed in the report:
- Who are the leading players dominating the global Orthopedics Devices Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Orthopedics Devices in this industry vertical?
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