The future of the global orthopedic device industry looks attractive with opportunities in public and private hospitals. The global orthopedic device industry is expected to reach an estimated $76.1 billion by 2027 and it is forecast to grow at a CAGR of 4.9% from 2022 to 2027. The major drivers for the growth of this market are the increasing aging population, increasing adoption of advancements in medical technologies, and growing healthcare expenditure and awareness.
Emerging Trends in Orthopedic Device Industry
Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing demand for smart implants, the widening use of nanotechnologies, and the adoption of robotic surgery to increase mechanical performance and accuracy.
The study includes trends and forecast for the orthopedic device market by device type and region as follows:
Answer: The global orthopedic device market is expected to reach an estimated $76.1 billion by 2027.
Q2. What is the growth forecast for orthopedic device market?
Answer: The orthopedic device market is expected to grow at a CAGR of ~4.9% from 2022 to 2027.
Q3. What are the major drivers influencing the growth of the orthopedic device market?
Answer: The major drivers for this market are increasing aging population, increasing adoption of advancements in medical technologies, and growing healthcare expenditure and awareness.
Q4. What are the major device types for orthopedic devices?
Answer: Orthopedic reconstruction, spinal devices, trauma fixation devices, craniomaxillofacial devices, dental implants, soft tissue repair, braces and accessories, and orthobiologics are the major end use for orthopedic devices.
Q5. What are the emerging trends in orthopedic device market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing demand for smart implants, widening use of nanotechnologies, and the adoption of robotic surgery to increase mechanical performance and accuracy.
Q6. Who are the key orthopedic device companies?
Answer: Some of the key orthopedic device companies are as follows:
Answer: The analyst forecasts that orthopedic reconstruction is expected to remain the largest segment by device type over the forecast period. The rise of orthopedic disorders and increasing aging population are the major driving forces that will spur growth for this segment over the forecast period.
Q8. In orthopedic device market, which region is expected to be the largest in the forecast period?
Answer: North America will remain the largest region and Asia Pacific expected to witness the highest growth over the forecast period.
Q9. Do we receive customization in this report?
Answer: Yes, the analyst provides 10% customization without any additional cost.
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the orthopedic device market?
Q.5 What are the business risks and threats to the orthopedic device market?
Q.6 What are the emerging trends in the orthopedic device market and the reasons behind them?
Q.7 What are some changing demands of customers in the orthopedic device market?
Q.8 What are the new developments in the orthopedic device market? Which companies are leading these developments?
Q.9 Who are the major players in the orthopedic device market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the orthopedic device market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the orthopedic device market?
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Emerging Trends in Orthopedic Device Industry
Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing demand for smart implants, the widening use of nanotechnologies, and the adoption of robotic surgery to increase mechanical performance and accuracy.
Orthopedic Device Market by Segment
In this market, orthopedic reconstruction is expected to remain the largest segment by device type. Growth in various segments of the orthopedic device market are given below:The study includes trends and forecast for the orthopedic device market by device type and region as follows:
Orthopedic Device Market by Device Type [Value ($ Million) from 2016-2027]:
- Orthopedic Reconstruction
- Hip
- Knee
- Shoulder
- Others
- Spinal Devices
- Trauma Fixation Devices
- Craniomaxillofacial Devices
- Dental Implants
- Soft Tissue Repair
- Braces and Accessories
- Orthobiologics and Others
Orthopedic Device Market by Region[Value ($ Million) from 2016-2027]:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- United Kingdom
- Spain
- Asia Pacific
- China
- India
- Japan
- The Rest of the World
- Brazil
- UAE
List of Orthopedic Device Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, orthopedic device companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the orthopedic device companies profiled in this report include-- DePuy Synthes
- Zimmer Biomet Holding Inc.
- Stryker Corporation
- Smith and Nephew PLC
- Medtronic
Orthopedic Device Market Insights
- The analyst forecasts that the orthopedic reconstruction, trauma fixation device, and orthobiologics segments are expected to show above average growth during the forecast period due to an increasing geriatric population, the rising prevalence of osteoporosis and osteoarthritis, and the increasing incidence of road accidents.
- Within the global orthopedic device industry, orthopedic reconstruction is expected to remain the largest segment by device type over the forecast period. The rise of orthopedic disorders and increasing aging population are the major driving forces that will spur growth for this segment over the forecast period.
- North America is expected to remain the largest region due to increasing awareness of minimally invasive procedures for orthopedic surgeries, continuous innovation in implant technologies, and advanced healthcare facilities.
- APAC is expected to witness the highest growth rate over the forecast period due to increasing road accidents, advancement in treatment technologies, and increasing awareness of healthcare options.
Features of the Orthopedic Device Market
- Market Size Estimates: Orthopedic device market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
- Segmentation Analysis: Orthopedic device market size by various segments, such as device type use.
- Regional Analysis: Orthopedic device market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different device types and regions for orthopedic device market.
- Strategic Analysis: This includes M&A and competitive landscape for the orthopedic device market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQS
Q1. What is the orthopedic device market size?Answer: The global orthopedic device market is expected to reach an estimated $76.1 billion by 2027.
Q2. What is the growth forecast for orthopedic device market?
Answer: The orthopedic device market is expected to grow at a CAGR of ~4.9% from 2022 to 2027.
Q3. What are the major drivers influencing the growth of the orthopedic device market?
Answer: The major drivers for this market are increasing aging population, increasing adoption of advancements in medical technologies, and growing healthcare expenditure and awareness.
Q4. What are the major device types for orthopedic devices?
Answer: Orthopedic reconstruction, spinal devices, trauma fixation devices, craniomaxillofacial devices, dental implants, soft tissue repair, braces and accessories, and orthobiologics are the major end use for orthopedic devices.
Q5. What are the emerging trends in orthopedic device market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing demand for smart implants, widening use of nanotechnologies, and the adoption of robotic surgery to increase mechanical performance and accuracy.
Q6. Who are the key orthopedic device companies?
Answer: Some of the key orthopedic device companies are as follows:
- DePuy Synthes
- Zimmer Biomet Holding Inc.
- Stryker Corporation
- Smith and Nephew PLC
- Medtronic
Answer: The analyst forecasts that orthopedic reconstruction is expected to remain the largest segment by device type over the forecast period. The rise of orthopedic disorders and increasing aging population are the major driving forces that will spur growth for this segment over the forecast period.
Q8. In orthopedic device market, which region is expected to be the largest in the forecast period?
Answer: North America will remain the largest region and Asia Pacific expected to witness the highest growth over the forecast period.
Q9. Do we receive customization in this report?
Answer: Yes, the analyst provides 10% customization without any additional cost.
This report answers the following 11 key questions
Q.1 What are some of the most promising potential, high-growth opportunities for the orthopedic device market by device type (orthopedic reconstruction (hip, knee, shoulder, and others), spinal devices, trauma fixation devices, craniomaxillofacial devices, dental implants, soft tissue repair, braces and accessories, orthobiologics, and others) and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the orthopedic device market?
Q.5 What are the business risks and threats to the orthopedic device market?
Q.6 What are the emerging trends in the orthopedic device market and the reasons behind them?
Q.7 What are some changing demands of customers in the orthopedic device market?
Q.8 What are the new developments in the orthopedic device market? Which companies are leading these developments?
Q.9 Who are the major players in the orthopedic device market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the orthopedic device market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the orthopedic device market?
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Market Background and Classifications
3. Market Trends and Forecast Analysis from 2016 to 2027
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Cost Structure Analysis
7. Growth Opportunities and Strategic Analysis
8. Company Profiles of Leading Players
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Johnson and Johnson (DePuy Synthes)
- Stryker Corporation
- Medtronic
- Zimmer Biomet Holding Inc.
- Smith & Nephew PLC
- Globus Medical Inc.
- DJO Global Inc.
- Arthrex Inc.
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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