Global Orthopedic Devices Market, By Products (Reconstructive Joint Replacements, Spinal Implants, Trauma and Craniomaxillofacial, Dental Implants, and Orthobiologics), Device Type (Internal Fixation Devices, External Fixation Devices), Biomaterial (Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, Natural Biomaterials, and Others), Procedures (Open Surgery, Minimally Invasive Surgery (MIS)), End Users (Hospitals, Ambulatory Care Center, Specialized Clinics, Orthopedic Centers, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Internal fixation surgery, which entails the placement of devices to cure broken bones, frequently employs orthopedic devices for anchoring fractured bones. Accidents and sports injuries are becoming more common around the world, which is propelling the market forward. The number of orthopedic surgeries is rising, which is hastening the use of orthopedic devices. In addition, technological advancements are increasing the demand for orthopedic equipment.
Data Bridge Market Research analyses that the orthopedic devices market which was USD 4,603.62 million in 2021, would rocket up to USD 7505.26 million by 2029, and is expected to undergo a CAGR of 6.3% during the forecast period 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Orthopedic devices are used to replace or support a missing or damaged bone or joint in a patient's body. The orthopedic devices are intended to cure deformities or fractures, among other things, in order to restore normal skeletal function and stable body posture. The orthopedic devices market has transformed as a result of technological advancements, which has resulted in a shift away from traditional surgical methods and toward the usage of current fixation and prosthetic devices.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Products (Reconstructive Joint Replacements, Spinal Implants, Trauma and Craniomaxillofacial, Dental Implants, and Orthobiologics), Device Type (Internal Fixation Devices, External Fixation Devices), Biomaterial (Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, Natural Biomaterials, and Others), Procedures (Open Surgery, Minimally Invasive Surgery (MIS)), End Users (Hospitals, Ambulatory Care Center, Specialized Clinics, Orthopedic Centers, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Zimmer Biomet (U.S), Smith & Nephew plc (Germany), Medtronic (Ireland), Stryker (U.S), Braun Melsungen AG (Germany), NuVasive, Inc. (U.S), DJO, LLC (U.S), Institut Straumann AG (Switzerland), OSSTEM IMPLANT CO., LTD. (South Korea), Narang Medical Limited (U.S), Globus Medical (U.S), Arthrex, Inc. (U.S), CONMED Corporation (U.S), Integra LifeSciences Corporation (U.S), RTI Surgical (U.S), W. L. Gore & Associates, Inc. (U.S), Corin Group (U.S) and Johnson & Johnson Services, Inc. (U.S)
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Market Opportunities
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Orthopedic Devices Market Dynamics
Drivers
- Rise in the geriatric population
An ageing population and increased prevalence of osteoarthritis and osteoporosis around the world are driving the global market. Furthermore, increased medical tourism and technological improvements have played an important role in the global market's expansion. The orthopedic devices market is being driven by factors such as an increase in the geriatric population, a high risk of osteoporosis and osteoarthritis, as well as an increase in joint replacement and sports accidents around the world. Over the forecast period of 2022 to 2029, fractures and trauma cases are also expected to increase the orthopedic devices market. Furthermore, technical advancements such as 3D printing and smart sensors, both of which have a high product penetration, are boosting market growth.
- Advent of 3D printing technology
This has gained a lot of attraction among medical device manufacturers for making patient-specific implants, prototypes, and biodegradable implants, among other things, propelling the industry forward.
- Significant rise in the number of osteoporosis patients
In the coming years, advances in limiting side effects are projected to generate profitable prospects for the orthopedic business. Obesity and diabetes, for example, have been linked to an increase in the incidence of degenerative joint disease, particularly among the elderly. As more young people engage in sports and fitness activities, the number of accidents associated with these activities rises. This has resulted in a rise in demand for orthopaedic devices all around the world.
Opportunities
In several areas, robotic surgery is becoming more popular. The use of automation in orthopedic implant technologies is allowing for new growth opportunities. Furthermore, the use of robots simplifies the process. Robots are capable of doing more successful surgery than human surgeons. It increases robot adoption in the orthopedic devices market. It is a necessary component that promotes rapid growth. Furthermore, growing research and development is another factor that provides potential for growth. The market's top regional companies are investing millions of dollars in orthopedic implants.
Restraints/Challenges
However, the orthopedic devices market's growth may be hampered by tight government standards for approval of orthopedic implants, as well as the high cost of treatments including orthopedic implant therapy.
Screws are crucial for the stability of most screw-plate fixation devices, and they are frequently associated with failure owing to pull-out caused by poor screw purchase or bone loss. Plates provide anatomic fracture reduction with open procedures as well as stability for early muscle-tendon unit and joint function, but they must be safeguarded from premature weight-bearing. The possibility of bone refracture following plate removal, stress protection, osteoporosis beneath a plate, plate irritation, and, in rare circumstances, an immunologic reaction are all disadvantages of plate fixation.
This orthopedic devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the orthopedic devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Orthopedic Devices Market
This was predicted to have a detrimental influence on the need for orthopedic sessions, which are often performed in outpatient settings. The emergence of COVID-19 has had an influence on the market, as hospital and health-care services have been severely constrained by governments around the world in response to societal unrest. Furthermore, the COVID-19 outbreak has impacted the worldwide economy and has had a considerable influence on regular hospital care for non-COVID-19 patients in hospitals all over the world. Due to the closure of many hospitals and clinics, the demand for digital bone devices is expected to decline in the near future.
Recent Development
Medtronic announced in October 2020 that their Adaptix Interbody System, the first guided titanium implant with Titan nanoLOCK Surface Technology, would be available in the United States. The company's new product has enhanced its credibility and demand in the market, resulting in greater revenue in the region.
Smith & Nephew plc stated in September 2020 that it had introduced its REDAPT System for revision total hip arthroplasty (rTHA) in the Chinese market. The company's new product has raised its sales and demand in the Asia-Pacific area.
Global Orthopedic Devices Market Scope
The orthopedic devices market is segmented on the basis of product, type, biomaterial and end- user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Reconstructive Joint Replacements
- Knee Replacement Implants
- Hip Replacement Implants
- Extremities
- Upper Extremity Reconstruction
- Elbow
- Shoulder
- Hand Wrist
- Lower Extremity Reconstruction
- Upper
- Lower
- Spinal Implants
- Spinal Fusion Implants
- Thoracolumbar Devices
- Cervical Fixation Devices
- Interbody Fusion Devices
- Vertebral Compression Fracture (VCF) Devices
- Balloon Kyphoplasty Devices
- Vertebroplasty Devices
- Motion Preservation Devices/Non-Fusion Devices
- Dynamic Stabilization Devices
- Artificial Disc Replacement Devices
- Annulus Repair Devices
- Nuclear Disc Prostheses
- Dental Implants
- Root Form Dental Implants
- Plate Form Dental Implants
- Trauma
- Orthobiologics
- Demineralized Bone Matrix (DBM)
- Allograft
- Bone Morphogenetic Protein (BMP)
- Viscosupplementation Products
- Synthetic Bone Substitutes
- Others
- Others
Type
- Knee
- Hip
- Wrist and Shoulder
- Dental
- Spine
- Ankle
- Others
Biomaterial
- Metallic Biomaterials
- Stainless Steel
- Titanium Alloy
- Cobalt Alloy
- Others
- Ceramic Biomaterials
- Polymers Biomaterials
- Others
End-User
- Hospitals
- Orthopedic Clinics
- Ambulatory Signal Centers
- Others
Orthopedic Devices Market Regional Analysis/Insights
The orthopedic devices market is analysed and market size insights and trends are provided by country, product, type, biomaterial and end-user as referenced above.
The countries covered in the orthopedic devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is predicted to dominate the market due to an ageing population and an increase in incidences of orthopaedic disorders, while the presence of important companies in the area will fuel market expansion.
Asia Pacific is likely to grow at the fastest rate due to developing economies such as China and India, while government initiatives on research and development projects and investment in enhancing healthcare infrastructure will drive market expansion from 2022 to 2029.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The orthopedic devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for orthopedic devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the orthopedic devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Orthopedic Devices Market Share Analysis
The orthopedic devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to orthopedic devices market.
Some of the major players operating in the orthopedic devices market are:
- Zimmer Biomet (U.S)
- Smith & Nephew plc (Germany)
- Medtronic (Ireland)
- Stryker (U.S)
- Braun Melsungen AG (Germany)
- NuVasive, Inc. (U.S)
- DJO, LLC (U.S)
- Institut Straumann AG (Switzerland)
- OSSTEM IMPLANT CO., LTD. (South Korea)
- Narang Medical Limited (U.S)
- Globus Medical (U.S)
- Arthrex, Inc. (U.S)
- CONMED Corporation (U.S)
- Integra LifeSciences Corporation (U.S)
- RTI Surgical (U.S)
- W. L. Gore & Associates, Inc. (U.S)
- Corin Group (U.S)
- Johnson & Johnson Services, Inc. (U.S)
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