Global Orthopedic Device
Market Report
2024
Global Orthopedic Device market size was USD 35.80 Billion in 2022 and it is forecasted to reach USD 52.71 Billion by 2030. Orthopedic Device Industry's Compound Annual Growth Rate will be 4.3% from 2023 to 2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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Global Orthopedic Device market size was USD 35.80 Billion in 2022 and it is forecasted to reach USD 52.71 Billion by 2030. Orthopedic Device Industry's Compound Annual Growth Rate will be 4.3% from 2023 to 2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Orthopedic Device Market Sales Revenue 2022 | $ 35.8 Billion |
Global Orthopedic Device Market Sales Revenue 2030 | $ 52.71 Billion |
Global Orthopedic Device Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.3% |
Market Split by Product |
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Market Split by Application |
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Market Split by Site |
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Market Split by End User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Orthopedic Device Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Orthopedic devices are designed to cure skeletal abnormalities and restore normal skeletal function by either replacing or strengthening the affected component. Orthopedic devices are used to support broken bones, restore lost joints, and replace missing joints. For strength, the implants are comprised of stainless steel, and titanium alloys, while the plastic coating serves as synthetic cartilage. Orthopedic surgery called internal fixation employs implants to heal broken bones. Rods, pins, plates, and screws are the most frequent orthopedic medical devices to support broken bones while recovering. Instruments that are utilized with implants include drivers, inserters, and surgical tools.
Age-related bone conditions such as osteoarthritis, osteomalacia, and rickets are more joint disorders in geriatric patients, which is expected to drive market growth. In the past several years, there has been a viewable growth in the number of elderly patients seeking joint replacement surgery. According to the Global Arthritis Network, 350 million people worldwide have arthritis. Osteoarthritis causes about 25 out of every 1,000 persons to need orthopedic surgery. The World Health Organization (WHO) estimates that by 2050, there will be 2 billion people worldwide who are 60 years of age.
One of the main challenges limiting the growth of the orthopedic devices market is the high cost of orthopedic equipment. Due to their high cost, these devices may become less popular in low-income countries. Costly joint restoration devices and implant accessories further restrict the market growth. Additionally, several governments worldwide are putting various programs in place to reduce the cost of these devices, which are intended to help market participants overcome these obstacles.
The COVID-19 pandemic has negatively impacted the market growth because elective treatments were postponed, there was little demand, and there were minimal sales. Businesses also had operating difficulties as a result of supply chain outages, company closures, travel restrictions, staff quarantines or illnesses, stay-at-home policies, and other prolonged interruptions. Several regulatory agencies issued guidance to help safely restart elective procedures once the frequency of COVID-19 has decreased. The American Hospital Association, American College of Surgeons, American Society of Anaesthesiologists (ASA), and Association of Perioperative Registered Nurses are a few organizations that have issued guidelines in this regard. The target population is expected to grow, elective procedures will resume, and there will be a backlog of planned surgeries, therefore a gradual market recovery is predicted over the next few years.
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4WEB Medical introduced a broad selection of hyperlordotic lateral implants. With the help of 4WEB's Lumbar Spine Plating Solution, the implants enable more affordable treatment alternatives and lessen the need for more extensive posterior corrective surgeries.
Spire Orthopedic Partners announced collaborations with Orthopaedic Surgical Associates and Middlesex Orthopedic Surgeons. Both are outstanding surgical facilities committed to providing complete orthopedic and spine care.
Stryker launched the Insignia Hip stem, used for total hip stem arthroplasty and hemiarthroplasty processes, at the American Academy of Orthopedic Surgeons Annual Meeting.
Top Companies Market Share in Orthopedic Device Industry: (In no particular order of Rank)
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The region that will expand the fastest is predicted to be Asia Pacific. China and India are predicted to have the largest populations of old people worldwide. It is therefore expected that these countries' demand will grow shortly. Additionally, because cutting-edge medical treatments are readily available and reasonably priced in the booming medical tourism sector, more patients from the target patient category are projected to travel there. Compared to other countries, Japan has more implant manufacturers and spends more on healthcare. Furthermore, it is projected that the widespread use of new technology will support regional market expansion.
The current report Scope analyzes Orthopedic Device Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Orthopedic Device Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Orthopedic Device Industry growth. Orthopedic Device market has been segmented with the help of its Product, Application Site, and others. Orthopedic Device market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on product, the orthopedic devices market is segmented into orthopedic fixation devices, orthopedic replacement devices, orthopedic prosthetics, orthopedic braces and support products, spinal implants, arthroscopy instruments, ortho biologics, and bone graft substitutes. The spinal implants segment accounted for the largest share of the market, in 2022. This can be due to the rising cases of road traffic accidents leading to spinal cord injuries, the number of spinal fusion surgeries, the increasing number of players offering advanced spinal implants, and the emergence of new Ortho biologics, which are anticipated to drive segment growth.
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Based on application, the market is divided into fracture treatment, rheumatoid arthritis, ligament injuries, neurological disorders, diabetes foot disease, spinal fusion, fixation, and decompression. Most old age people are at higher risk of fractures such as hip and spine fractures. The increase in the prevalence of bone fractures in the elderly population and the growing number of adults as well as children participating in sports-related activities, the development of Ortho biologics for fast healing of fractures as well as an increasing number of market players offering a wide range of orthopedic devices for the fracture treatment are likely to support the growth of the segment.
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Orthopedic Device market report 2024 Edition by contacting our team.
Based on site, the orthopedic devices market is divided into knee and thigh, foot and ankle, hip and pelvic, arm and elbow, spine, hand and wrist, shoulder, and craniomaxillofacial. The hand and wrist segment account for the largest share of the market due to the rising cases of fractures, growing participation in sports leading to hand fractures, and growth rate in old age people with osteoarthritis which leads to bone fractures and change in diet and lifestyle like junk food with a minimal level of calcium contents boosts the growth of the segment.
The market for orthopedic equipment has been divided into hospitals, surgical centers, orthopedic clinics, ambulatory and trauma care facilities, and home care settings based on end users. This can be attributed to an increasing patient population, a rise in the figures of trauma patients admitted to hospitals, orthopedic surgeries performed in hospitals, a rise in government investments to upgrade hospital healthcare infrastructure, and rising collaborations and partnerships between orthopedic hospitals to increase patient access to orthopedic care.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Orthopedic Device Market is witnessing significant growth in the near future.
In 2023, the Orthopaedic Fixation Devices segment accounted for noticeable share of global Orthopedic Device Market and is projected to experience significant growth in the near future.
The Fracture Treatment segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Medtronic , Stryker Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Product | Orthopaedic Fixation Devices, Orthopedic Replacement Devices, Orthopaedic Prosthetics, Orthopedic Braces, Spinal Implants, Arthroscopy Instruments, Ortho Biologics, Bone Graft Substitutes |
Application | Fracture Treatment, Rheumatoid Arthritis, Ligament Injuries, Neurological Disorders, Diabetes Foot Diseases, Spinal Fusion, Fixation and Decompression |
Site | Hand and Wrist, Hip and Pelvis, Knee and Thigh, Spine, Shoulder, Arm and Elbow, Foot and Uncle, Cranio-Maxillofacial |
End User | Hospitals, Surgical Centres, Orthopedic Clinics, Ambulatory and Trauma Care Centre, Home Care Setting |
List of Competitors | Medtronic, Zimmer-Biomet Holdings Inc., Stryker Corporation, Donjoy Inc., NuVasive Inc., Johnson & Johnson, Enovis, Orthofix Medical Inc, RCH Orthopaedics, DePuy Synthes, Acumed LLC, MicroPort Scientific Corporation, Aesculap Implant Systems, B. Braun |
This chapter will help you gain GLOBAL Market Analysis of Orthopedic Device. Further deep in this chapter, you will be able to review Global Orthopedic Device Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Orthopedic Device Market Trends North America Orthopedic Device Technological Road Map North America Orthopedic Device Market Drivers North America Orthopedic Device Market Restraints North America Orthopedic Device Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Site Analysis 2019 -2031
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Chapter 13 Market Split by End User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Orthopedic Device market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Orthopaedic Fixation Devices have a significant impact on Orthopedic Device market? |
What are the key factors affecting the Orthopaedic Fixation Devices and Orthopedic Replacement Devices of Orthopedic Device Market? |
What is the CAGR/Growth Rate of Fracture Treatment during the forecast period? |
By type, which segment accounted for largest share of the global Orthopedic Device Market? |
Which region is expected to dominate the global Orthopedic Device Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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