PUBLISHER: Value Market Research | PRODUCT CODE: 1547484
PUBLISHER: Value Market Research | PRODUCT CODE: 1547484
The global demand for Orthopedic Devices Market is presumed to reach the market size of nearly USD 99.97 Billion by 2032 from USD 65.17 Billion in 2023 with a CAGR of 4.87% under the study period 2024-2032.
Orthopedic devices are special equipment used for correcting musculoskeletal deformities, managing musculoskeletal problems of joints, and treating chronic bone infections. Orthopedic devices need to be attached to the body. They support fractured bone, stabilize body posture, and restores skeletal functions. These devices are widely used in internal fixation surgery requiring implants. Splints, rods, plates, pins, screws, spacers, bandages, cages, special apparatus, and prostheses are some commonly used orthopedic devices. Such devices are manufactured by combining titanium alloys and stainless steel for enhanced strength, and the outer layer of the device- made of plastic, serves the purpose of artificial cartilage.
The key factors that drive the orthopedic device market are the increasing incidence of musculoskeletal diseases, osteoporosis, and traumatic injuries related to sports and accidents. Other factors contributing to orthopedic device market growth are the increasing geriatric population suffering from orthopedic diseases and technological innovations in this field. Growing preference for minimally invasive surgeries will accelerate the demand for orthopedic devices. Furthermore, increasing number of orthopedic surgeries by using different types of orthopedic implants is expected to boost demand for orthopedic devices. However, high cost and postoperative risks and complications associated with orthopedic devices, availability of treatment alternatives, and development of advanced drugs may hinder orthopedic devices market growth.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Orthopedic Devices. The growth and trends of Orthopedic Devices industry provide a holistic approach to this study.
This section of the Orthopedic Devices market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Orthopedic Devices market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Orthopedic Devices market include Medtronic, Stryker, Zimmer Biomet, DePuy Synthes, Smith+Nephew, Aesculap Inc.- A B. Braun Company, Conmed Corporation, NuVasive Inc. (Mergerd With Globus Medical), Enovis (Formerly Known As DJO). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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