OCEAN VIEW, Del., Aug. 17, 2017 /PRNewswire-iReach/ -- The Industry
Growth report "Orthopedic Devices Market By Product
(Joint Reconstruction, Spinal Devices, Trauma Fixation Devices,
Orthobiologics, Arthroscopic Devices), Industry Analysis Report,
Regional Outlook (U.S., Canada,
Germany, UK, Italy, France, Spain, Poland, Russia, China, India,
Japan, Australia, South
Korea, Taiwan, Argentina, Brazil, Mexico, South
Africa, Saudi Arabia,
Qatar, Egypt, UAE), Application Potential,
Competitive Market Share & Forecast, 2017 - 2024" by Global
Market Insights, Inc. forecast Orthopedic Devices Market is
expected to exceed $53 billion by
2024.
Breakthroughs in osteology which has resulted in development of
cost-effective equipment coupled with rise in sports injuries will
impel orthopedic devices market growth. The new inventions in 3D
printing technology and robot assisted surgeries will also generate
lucrative avenues for the orthopedic devices industry in the years
to come. The geriatric population base which is highly susceptible
to bone diseases such as arthritis, osteoporosis, etc. will
substantially drive the demand for these devices. As per the WHO,
the worldwide population above 60 years of age will reach 2 billion
by 2050. With this escalating trend, the orthopedic devices market
is certain to witness a strong growth chart ahead.
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Rising preference for minimally invasive surgical procedures and
massive usage of novel biodegradable implants for medical treatment
will contribute substantially towards orthopedic devices market
share in future. Obesity, sedentary lifestyle, irregular diet, and
high consumption of alcohol will further add to the growing
popularity of the orthopedic devices. The orthopedic devices
industry is foreseen to witness remarkable growth in developing
nations as compared to developed nations, owing to large-scale
acceptance of the devices in the emerging economies plus market
saturation in developed economies.
Taking into consideration the regional trends, UK orthopedic
devices industry, which contributed more than 15% of Europe industry revenue in 2016, will exhibit
an appreciable surge over the next few years. Rising frequency of
bone disorders among the increasing elderly population is predicted
to spur the revenue.
Browse key industry insights spread across 135 pages with 48
market data tables & 8 figures & charts from the report,
"Orthopedic Devices Market" in detail along with the table
of contents:
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Trauma fixation devices should witness lucrative growth due to
rising geriatric population susceptible to bone disorders and
growing instances of road accidents, leading to bone fractures and
spinal injuries. However, high devices cost and expensive nature of
surgeries may hamper industry growth over forecast years.
Orthobiologics is set to exceed USD 4
billion by 2024, owing to its rising demand among surgeons
as a bone grafts and substitutes. Growing geriatric population,
increasing prevalence of musculoskeletal disorders, changing
lifestyle and availability of innovative products will trigger
industry growth.
U.S. orthopedic devices market was valued at over
USD 20 billion in 2016 and is
anticipated to witness significant growth over the coming years.
Rising prevalence of osteoporosis, osteoarthritis, and
musculoskeletal disorders, growing geriatric population, adoption
of advanced technologies and presence of sophisticated healthcare
infrastructure should boost orthopedic devices industry growth.
UK orthopedic devices market accounted for more than 15% of
Europe revenue share, owing to
huge geriatric population base and rising prevalence of bone
diseases. Increasing economic burden of fractures and other bone
related ailments should accelerate growth.
Japan orthopedic devices market
held over 40% of regional revenue share with the target market size
set to exceed USD 2 billion by 2024.
Rapidly growing geriatric population base and increasing incidence
of spine disorders and bone injuries should stimulate business
growth. Adoption of advanced technologies and growing patient
awareness will also propel industry growth.
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Mexico orthopedic devices
market size was valued over USD 300
million in 2016. Increasing prevalence of osteoporosis,
growing number of accidents, increasing economic burden of bone
ailments, and improvement in healthcare infrastructure should
stimulate industry growth.
Some of the companies operating in the orthopedic devices market
include Medtronic, Stryker, Zimmer Biomet, ConforMIS, DJO Global,
MicroPort Scientific Corporation, NuVasive, Medacta, Globus
Medical, Smith & Nephew, and DePuy Synthes. The industry is
primarily driven by strategic acquisitions coupled with new product
launches and geographical expansion. Industry participants strive
to retain their market position in high profitable areas and high
growth verticals by adoption these strategies.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research
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research reports along with growth consulting services. Our
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with penetrative insights and actionable market data specially
designed and presented to aid strategic decision making. These
exhaustive reports are designed via a proprietary research
methodology and are available for key industries such as chemicals,
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