SAN FRANCISCO, June 29, 2016 /PRNewswire/ --
The global orthopedic devices market is
expected to reach USD 43.1 billion by
2024, according to a new report published by Grand View Research,
Inc. Major drivers of the market include the rising demand for
orthopedic surgeries owing to the growth in road accidents and the
prevalence of orthopedic diseases.
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The introduction of new products made of materials, such as
various types of ceramics and polymers, has led to a rise in the
success rates of surgeries. In addition, these products are
available at affordable costs and customizable sizes and shapes. As
a result, the adoption of these advanced products is swiftly
increasing. In addition, the rising geriatric population prone to
orthopedic diseases, such as osteoporosis and arthritis, is
augmenting the growth of the market.
Hip and knee applications together accounted for the largest
market share in 2015. A relatively high rate of hip and knee
replacement surgeries coupled with the constant innovations in the
treatment of hip and knee injuries is contributing towards the
growth of these application segments.
Stringent regulatory approval procedures are the prime factors
restraining the growth of the market. In addition, a high device
cost and expensive surgical costs are some other factors impeding
the market growth.
Browse full research report
with TOC on "Orthopedic
Devices Market Analysis by
Application (Hip, Knee, Spine,
Cranio-Maxillofacial, Dental, and
Sports injuries, Extremities, Trauma
(SET)), by Product Type
(Accessories, Surgical Devices), and
Segment Forecasts To 2024"
at:
http://www.grandviewresearch.com/industry-analysis/orthopedic-devices-market
Further key findings from the
study suggest:
- The knee orthopedic devices segment captured the largest share
of the market in 2015. This was attributed to the factors such as a
high rate of knee surgeries including common knee injuries to total
knee replacements.
- The hip orthopedic devices segment was the second largest
market in 2015. The large portfolio for hip injury management is
expected to result in a significant share in the global
market.
- North America captured the
largest market share of 51.4% in 2015 and is expected to maintain
its dominance over the forecast period. The presence of a large
number of major market players and a high adoption rate of advanced
technologies are the factors driving the growth of the market in
the region.
- The Asia Pacific market is
expected to witness a lucrative CAGR of 8.6% during the forecast
period. The presence of a large untapped market and the
availability of supportive government regulations are expected to
attract the attention of the global players.
- Some major players in the orthopedic devices market include
NuVasive, Inc., Medtronic PLC, Zimmer-Biomet Holdings,
DePuySynthes, Stryker, Aesculap Implant Systems, LLC, Donjoy, Inc.,
and Conmed Corporation
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research report:
http://www.grandviewresearch.com/industry-analysis/orthopedic-devices-market/request
Grand View Research has
segmented the orthopedic devices
market on the basis of
applications, product type and
geography.
- Orthopedic Devices, by Application,
2013 - 2024 (USD Million)
- Hip Orthopedic Devices
- Knee Orthopedic Devices
- Spine Orthopedic Devices
- Craniomaxillofacial Orthopedic Devices
- Dental Orthopedic Devices
- Sports Injuries, Extremities and Trauma(SET) Orthopedic
Devices
- Orthopedic Devices Market, by
Product, 2013 - 2024 (USD
Million)
- Accessories
- Braces
- Consumables
- Others
- Surgical Devices
- Drill Guide
- Guide Tubes
- Implant Holder
- Custom Clamps
- Distracters
- Screw Drivers
- Other
- Orthopedic devices market, by region, 2013 - 2024 (USD Million)
- North America
- U.S. Orthopedic Devices Market by Application Type
- U.S. Orthopedic Devices Market by Product Type
- Canada Orthopedic Devices Market by Application Type
- Canada Orthopedic Devices Market by Product Type
- Europe
- UK Orthopedic Devices Market by Application Type
- UK Orthopedic Devices Market by Product Type
- Germany Orthopedic Devices Market by Application Type
- Germany Orthopedic Devices Market by Product Type
- Asia Pacific
- Japan Orthopedic Devices Market by Application Type
- Japan Orthopedic Devices Market by Product Type
- China Orthopedic Devices Market by Application Type
- China Orthopedic Devices Market by Product Type
- Latin America
- Brazil Orthopedic Devices Market by Application Type
- Brazil Orthopedic Devices Market by Product Type
- Mexico Orthopedic Devices Market by Application Type
- Mexico Orthopedic Devices Market by Product Type
- MEA
- South Africa Orthopedic Devices Market by Application Type
- South Africa Orthopedic Devices Market by Product Type
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company
provides syndicated research reports, customized research reports,
and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant
and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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