Global Orthopedic Devices Market: Technical Advancement to Present Huge Opportunity for Market Players

Published By : 25 Jan 2016 | Published By : QYRESEARCH

The global orthopedic devices market has gained significant momentum over the previous few years. The rising prevalence of osteoarthritis and osteoporosis, triggered by the augmenting geriatric population, is the main factor behind this immense growth of the worldwide orthopedic devices market. The increasing incidence of obesity has also boosted the demand for these devices to a great extent. The growing awareness regarding minimally invasive procedures is also helping to drive up demand for these products.

The global orthopedic devices market is teeming with opportunities at present. Here are the top 5 trends in this market, which are expected to shape its future.

  • Technical advancements, specifically in the field of bioabsorbable implants, and the raised success rate of these fixators and implants in the emerging economies is likely to produce a huge opportunity for orthopedic devices manufacturers.
  • The orthopedic knee devices segment witnessed the highest demand in the overall orthopedic device market in 2012. However, product recalls on account of implant loosening, wear, corrosion, production errors, and various other factors are projected to impact the market revenue of this market segment negatively in the near future.
  • The orthopedic hip devices segment held the second position in the overall orthopedic device market in 2012 on the basis of the revenue generated. Analysts expect this segment to expand at a healthy growth rate in the coming years, owing to the increasing incidence of hip fractures, propelling the need for hip replacement procedures.
  • North America has been leading the global market for orthopedic devices over the last few years and is projected to retain this position in the near future. The increasing geriatric population base and rising incidence of obesity in the U.S. are the key driving force behind the remarkable growth of the North America orthopedic devices market.

Nuvasive Inc., Zimmer Biomet Holdings Inc., Integra Lifesciences Corp., Depuy Synthes, Medtronic Plc, Stryker Corp., Smith & Nephew Plc., B.Braun Melsungen AG Djo Global Inc., and Globus Medical are some of the major orthopedic devices manufacturers and are working on producing innovative as well as technically advanced devices.

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