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Orthopedic Devices Market Study, Competitive Strategies, Key Manufacturers, New Project Investment and Forecast 2024

Orthopedic Devices Market is the process of conveying a good quality service to customers. focuses on identifying hidden needs or requirements of customers. Report defines the scope of the Orthopedic Devices market, identifying potential of the Orthopedic Devices markets and determining optimal pricing for the market, it encouraging potential customers to purchase, and finding the best distribution methods for delivering to customers.

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Market Overview:

  • The orthopedic devices market is expected to witness a CAGR of 7.2% during the forecast period. North America has been dominating the orthopedic devices market, and the region is expected to maintain its dominance throughout the forecast period.
  • – The number of people undergoing joint replacement surgeries, such as total hip and knee replacement, has increased steadily and continues to increase, due to an increase in the aging population. The rise in the osteoporosis-related fractures and musculoskeletal diagnoses are driving the demand for orthopedic implants among the population aged 65 years or older.
  • – According to the Arthritis Research, UK published a report on “The State of Musculoskeletal Health 2018”, it is estimated that 17.8 million people live with a musculoskeletal condition in the United Kingdom, which is around 28.9% of the total population. Therefore, statistics show that the number of orthopedic surgeries is increasing, which leads to an increase in the demand for orthopedic implants.
  • – The other driving factors include an increasing number of large joint reconstruction surgeries, growing elderly population, increase in the prevalence of orthopedic disorders, and development of bioabsorbable and titanium implants. However, factors, such as stringent regulatory reforms, hamper the growth of the mar

    Key Market Trends:

    The Join Reconstruction Segment is Anticipated to Grow at High CAGR During the Forecast Period

    The global orthopedic devices market is segmented by application and geography. The application segment is further segmented into hip orthopedic devices, joint reconstruction, knee orthopedic devices, spine orthopedic devices, trauma fixation devices, craniomaxillofacial orthopedic devices, dental orthopedic devices, and other applications. The joint reconstruction segment is anticipated to grow at a high CAGR, owing to the rise in geriatric population, growing prevalence of osteoarthritis and osteoporosis, and rise in the incidence of sports injuries and road accidents. Additionally, technological advancements have significantly influenced the joint reconstruction devices segment of the market studied.

    Spinal devices are also expected to witness a steady growth rate during the forecast period, owing to the introduction of new technologies and products and rise in prevalence of spine-related disorders. The trauma fixation orthopedic devices are also anticipated to witness substantial revenue by the end of 2024.

    Asia-Pacific is Anticipated to Grow with the Fastest CAGR During the Forecast Period

    North America is expected to dominate the market, due to the increasing awareness of the minimally-invasive procedures for orthopedic surgeries, continuous innovation in the implant technologies, and advanced healthcare facilities. A high adoption rate of advanced technologies are also the factors driving the growth of the market in this region.

    The demand for orthopedic surgeries in China and is also expected to grow tremendously in the near future. and China are anticipated to account the largest market share in the Asia-Pacific region, owing to the high increase in the geriatric population pool. Moreover, increasing medical tourism, due to the availability of cost-efficient and advanced healthcare treatment options, compared to the other geographical regions, and increasing adoption of novel technologies are bolstering the growth of orthopedic devices market in the Asia-Pacific region. Increase in the R&D expenditures on novel technologies and growing economic conditions in countries, like Brazil, are likely to enhance the market growth for orthopedic devices in the Latin America region.

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    Major Key Players are as Follows

  • DePuy Synthes Companies
  • DJO Global Inc.
  • Globus Medical Inc.
  • Integra LifeSciences
  • Medtronic Spinal
  • NuVasive Inc.
  • Smith & Nephew PLC
  • Stryker Corporation
  • Wright Medical Group NV
  • Zimmer Biomet

    Scope of the Report:

  • Orthopedic devices are used to replace missing joint or bone or to give support to the damaged bone. The devices are fabricated by using titanium alloys and stainless steel for strength, and plastic coating acts as artificial cartilage. Internal fixation is a surgery in orthopedics, which involves implementation of implants, in order to repair the damaged bone. Most common orthopedic medical devices are the rods, pins, plates, and screws, which are used for anchoring of fractured bones while they heal.

    Geographical Regions:

    – United States – Canada – Mexico – Germany – United Kingdom – France – Italy – Spain – China – Japan – – Australia – South Korea – GCC – South Africa – Brazil – Argentina.

    Topics such as sales and sales revenue overview, production market share by product type, capacity and production overview, import, export, and consumption are covered under the development trend section of the Orthopedic Devices market report.

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    Reasons to Purchase Orthopedic Devices Market Report Covered:

    • The report examines how Orthopedic Devices market will develop in the future.
    • Studying various views of the Orthopedic Devices market with the help of Porter’s five forces analysis.
    • Analyzing the product type that is probable to control the market and regions that are likely to witness the fastest development during the forecast period
    • Identify the new developments, Orthopedic Devices market shares and strategies employed by the key market players.
    • Competitive landscape including the market share of major players along with the key strategies accepted for growth in the past five years
    • Complete company profiles covering the product offerings, key financial information, current developments, SWOT analysis and strategies employed by the major Orthopedic Devices market players

    Detailed TOC of Orthopedic Devices Market – Growth, Trends, and Forecast (2019 – 2024)

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Increasing Number of Large Joint Reconstruction Surgeries
    4.2.2 Growing Elderly Population Increases the Prevalence of Orthopedic Disorders
    4.2.3 Development of Bioabsorbable and Titanium Implants
    4.2.4 Rising Demand for Orthopedic Implants
    4.3 Market Restraints
    4.3.1 Alternative Procedures, such as Tissue Engineering and Development of New Drugs
    4.3.2 Stringent Regulatory Reforms
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Application
    5.1.1 Hip Orthopedic Devices
    5.1.2 Joint Reconstruction
    5.1.3 Knee Orthopedic Devices
    5.1.4 Spine Orthopedic Devices
    5.1.5 Trauma Fixation Devices
    5.1.6 Craniomaxillofacial Orthopedic Devices
    5.1.7 Dental Orthopedic Devices
    5.1.8 Other Applications
    5.2 Geography
    5.2.1 North America
    5.2.1.1 US
    5.2.1.2 Canada
    5.2.1.3 Mexico
    5.2.2
    5.2.2.1 Germany
    5.2.2.2 UK
    5.2.2.3 France
    5.2.2.4 Italy
    5.2.2.5 Spain
    5.2.2.6 Rest of
    5.2.3 Asia-Pacific
    5.2.3.1 China
    5.2.3.2 Japan
    5.2.3.3
    5.2.3.4 Australia
    5.2.3.5 South Korea
    5.2.3.6 Rest of Asia-Pacific
    5.2.4 Middle East & Africa
    5.2.4.1 GCC
    5.2.4.2 South Africa
    5.2.4.3 Rest of Middle East & Africa
    5.2.5 South America
    5.2.5.1 Brazil
    5.2.5.2 Argentina
    5.2.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 DePuy Synthes Companies
    6.1.2 DJO Global Inc.
    6.1.3 Globus Medical Inc.
    6.1.4 Integra LifeSciences
    6.1.5 Medtronic Spinal
    6.1.6 NuVasive Inc.
    6.1.7 Smith & Nephew PLC
    6.1.8 Stryker Corporation
    6.1.9 Wright Medical Group NV
    6.1.10 Zimmer Biomet

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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    Contact Info:

    Name: Ajay More

    Email: [email protected] 

    Organization: Absolute Reports

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