The global orthopedics market is changing at a fast pace and is expected to register significant modifications in the next few years. Advancements in the underlying technological framework of the orthopedics industry and improvements in the healthcare infrastructure across the world are two of the leading factors responsible for the growth of the global orthopedics industry. Many of the giants operating in the global orthopedics industry are predicted to adopt new business practices in order to incorporate technological advancements into their operations and thus maintain their dominance. Among the companies operating in the global orthopedics industry, Johnson & Johnson is predicted to maintain its dominance till 2020.
Key companies operating in the orthopedics industry are considering signing merging agreements with the new entrants. The mergers and acquisitions are expected to change the competitive atmosphere in the global market in the years to come. This will give rise to new technologies, devices, and ideas for new product development. Thus, the global orthopedics industry is predicted to benefit from mergers, the favorable regulatory conditions in many regions, and the rising funding from the governments of many nations.
BRIC countries, namely India, China, Brazil, and Russia, are anticipated to be the future for key orthopedic companies. Enhancements in arthroscopic hip surgery and the invention of arthroplasty are predicted to overcome the issues related to orthopedics such as surgical complications and product defects.
The rising medical tourism is also expected to benefit the global orthopedics market. People now often choose travel to other countries where orthopedic treatments are available at much cheaper rates than their home country. The flow of medical tourism is mainly one-way, with consumers in developed countries seeking low-cost treatment options in the flourishing healthcare sector in emerging regions such as Asia Pacific.
Younger people have become the primary market for various medical treatments, and the field of orthopedics is not an exception. In addition to the steady demand for orthopedic treatments and implants from the geriatric demographic, there has been a significant increase in the number of people aged below 40 years undergoing joint replacement operations.
The field of orthopedics includes trauma fixation devices, orthotics, orthodontics, orthopedic devices, digital orthodontics, orthopedic prosthetics, soft tissue repair devices, internal trauma fixation devices, prosthetic limbs, orthopedic orthotics, interlocking intramedullary nails, metal orthopedic nails, orthopedic biomaterials, and many other segments.
Even though the global orthopedics industry is growing at a fast pace, it is expected to be hampered by a few factors. Orthopedic companies are depending more on third-party manufacturers, which is a risk for local markets. Consistently changing regulatory norms and the consequent difficulty in getting FDA approvals have made it difficult for new entrants to enter the mainstream. However, the introduction of advanced technologies such as customizable implants and 3D printing have propelled the global market for orthopedics.
To know more about the global market, browse through the freshly prepared reports available at QYResearchReports.com. Apart from the global orthopedics industry, you can browse through fresh reports on various other markets. For a competitive analysis, the report’s authors have analyzed various players operating across different geographical locations.