Published Date : Feb 08, 2016
ALBANY, New York, Feb 08, 2016: The global market for orthopedic devices is examined in great detail in a recent market research report added to the vast market research portfolio of MarketResearchReports.biz. The report, titled “Global Orthopedic Devices Market 2016-2020,” states that the market will expand at a moderate 4% CAGR between 2016 and 2020. Factors such as the rising geriatric population around the globe and rising prevalence of orthopedic diseases such as osteoporosis, arthritis, fibromyalgia, bursitis, and chronic knee pain and hip pain are projected to bolster the future growth prospects of the global orthopedic devices market over the report’s forecast period.
The report states that the market will also benefit from recent technological developments in the field of medical devices. The rising popularity of advanced orthopedic devices such as bioabsorbable implants and a number of titanium-based products owing to their several advantages, including high mechanical performance, strength, rigidity and fracture toughness, is expected to strengthen the future growth prospects of the market.
The report segments the global orthopedic devices market on the basis of two criteria: application and geography.
On the basis of application, the market has been segmented into trauma and extremities, spine, hip, knee, and foot and ankle. Of these, the segment of spine orthopedic devices is expected to lead the market, accounting for over 27% of the global market by the end of the report’s forecast period. Factors such as the rising preference for minimally invasive surgeries and rising incidence of spine-related diseases will fuel the demand for spine orthopedic devices over the report’s forecast period.
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On the basis of geography, the market has been segmented into APAC, the Americas, and EMEA. Of these, the market for orthopedic devices in the regional segment of the Americas held a 61% share in the global orthopedic devices market in 2015 and is projected to expand at a 4% CAGR over the report’s forecast period. Factors such as the rising geriatric population in this region, launch of innovative new products, and the rising number of orthopedic disorders will favor the growth of the orthopedic devices market in this region.
The report also presents a detailed competitive landscape reports of the global orthopedic market with the help of detailed business profiles of key market vendors, recent developments, and other details. The report states that the global market for orthopedic devices is fragmented and contains a large number of small-, medium-, and large-sized companies. The market is expected to experience favorable development owing to a rise in innovative marketing activities and launch of new products by key market vendors.
Some of the key companies operating in the global orthopedic devices market are Medtronic, DePuy Synthes, Zimmer-Biomet, Stryker, and Smith & Nephew. Other prominent vendors in the market include Bonovo Orthopedics, AAP Implantate, Arthrex, Elite Surgical, Acumed, Exactech, Integra LifeSciences, ConforMIS, Aesculap Implant Systems, NuVasive, K2M, Arthrosurface, and Lima corporate.
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