Market Analysis: Global Orthopedic Devices Market
The Global Orthopedic Devices Market accounted to USD 14.5 billion in 2016 growing at a CAGR of 10.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Market Definition: Global Orthopedic Devices Market
Orthopedic devices are used for the restoration of joint movements and skeletal structure in numerous types of abnormal growth of bones, fractures, trauma, soft tissue damage, or other deformities. These devices are surgically implanted or superficially attached through minimally invasive procedures. The need and demand for orthopedic procedures is anticipated to increase due to the growing elderly population and obesity across the globe.
Major market drivers and restraints: Global Orthopedic Devices Market
- Technological advancements
- Increasing Geriatric Population
- Lack in established clinical records and strict regulations
- Higher treatment costs
- Shortage Of Skilled Professionals
Market Segmentation: Global Orthopedic Devices Market
By product the global orthopedic devices market is segmented into accessories, and surgical devices.
Accessories are further sub-segmented into braces, consumables, and others.
Surgical devices are further sub-segmented into drill guide, guide tubes, implant holder, custom clamps, distracters, and screw drivers.
On the basis of devices the global orthopedic devices market is segmented into hip orthopedic devices, knee orthopedic devices, spine orthopedic devices, craniomaxillofacial orthopedic devices, dental orthopedic devices, sports injuries, extremities and trauma orthopedic devices.
On the basis of end-users the global orthopedic devices market is segmented into hospitals, ambulatory centers, home care settings, and others.
On the basis of geography, global orthopedic devices market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
Competitive Analysis: Global Orthopedic Devices Market
The global orthopedic devices market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of orthopedic devices market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors: Global Orthopedic Devices Market
Some of the major players operating in global orthopedic devices market are Zimmer Biomet, Wright Medical Group N.V., APATECH LTD., ArthroCare Corporation, Medtronic, Touch Bionics Inc. and Touch Bionics Limited, Johnson & Johnson Services, Inc., Stryker, NuVasive, Inc., Smith & Nephew, Integra LifeSciences Corporation, Globus Medical Inc., Exactech, Inc., DJO Global, Inc., CONMED Corporation, Amedica Corporation, Alphatec Spine, Inc., and MicroPort Scientific Corporation, B. Braun Medical Inc., aap Implantate AG, Solana Surgical LLC among others.
Research Methodology: Global Orthopedic Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or drop down your inquiry.
Demand Side Primary Contributors: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.