Orthopaedic Devices Market to Surpass 53.83 Billion by 2030 Drives Due to the Rising Disorders
SkyQuest projects that the orthopaedic devices market will attain a USD 53.83 billion value by 2030, with a CAGR of 3.1% over the forecast period (2023-2030). The surge in musculoskeletal ailments propels the global orthopaedic devices market. Increasing incidences of fractures, arthritis, and osteoporosis drive the demand for innovative devices, fostering market expansion while underlining the need for advanced medical solutions.
Westford, USA, Aug. 10, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the escalating patient population afflicted by orthopaedic conditions fuels the growth of the global orthopedic devices market. As the number of individuals seeking treatment for musculoskeletal disorders rises, there is a corresponding demand for a diverse range of orthopaedic devices to cater to various medical needs.
Browse in-depth TOC on the “Orthopedic Devices Market.”
● Pages – 157
● Tables – 61
● Figures – 75
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Advancements in technology and medical innovation act as pivotal drivers across industries. By continually pushing the boundaries of what’s possible, these advancements catalyze growth, improve efficiency, and enhance the overall quality of products, services, and experiences.
Prominent Players in the Orthopedic Devices Market
- Johnson & Johnson
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- Medtronic
- Smith & Nephew plc
- Arthrex Inc.
- DePuy Synthes Companies
- Globus Medical Inc.
- DJO Global
- Conmed Corporation
- Wright Medical Group N.V.
- NuVasive Inc.
- B. Braun Melsungen AG
- Integra Lifesciences Holdings Corporation
- Össur hf.
- Acumed LLC
- Lima Corporate
- Waldemar Link GmbH & Co. KG
- RTI Surgical, Inc.
- Medline Industries, Inc.
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The accessories Segment is Expected to Grow the Market Due to their indispensable role in enhancing device functionality and patient comfort.
Accessories exhibit burgeoning growth in the global orthopaedic devices market due to their indispensable role in enhancing device functionality and patient comfort. Braces supports, and orthotic accessories are witnessing rising demand as they complement orthopaedic treatments, catering to a broader spectrum of patient needs and fostering market expansion.
North America emerges as a dominant force in the global orthopaedic devices market. With advanced healthcare infrastructure, a growing elderly population, and extensive R&D activities, the region commands a significant market share. Its robust medical innovation, coupled with high awareness, propels North America’s leadership role in the orthopaedic devices sector.
Surgical devices Segment is Expected to Grow the Market Due to their critical role in various procedures.
Surgical devices assert dominance in the global orthopaedic devices market due to their critical role in various procedures. From joint replacements to spinal surgeries, these devices offer precision, aiding surgeons in achieving successful outcomes. This pivotal segment drives market growth by addressing diverse orthopaedic healthcare needs.
Regional markets in the Asia-Pacific region expect a rapidly growing player in the global orthopaedic market. Driven by increasing healthcare investments, rising disposable incomes, and a surging ageing population, the region witnesses heightened demand for orthopaedic devices. This dynamic landscape positions Asia-Pacific as a pivotal contributor to market expansion.
A comprehensive analysis of the major players in the orthopaedic devices market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Orthopedic Devices Market
- In October 2022, ZimVie launched the Virage navigation system for the posterior cervical application. The Zimmer Biomet dental and spine spinoff designed Virage as an occipital-cervical-thoracic (OCT) spinal fixation system.
- In July 2022, Enovis launched a wearable augmented reality (AR) device for orthopaedic surgeries, which are controlled by doctors for aligning implants with precision.
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Key Questions Answered in Orthopedic Devices Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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