IQ4I Publishes a Report on "Orthopedic Devices Global Market - Forecast to 2021"
The global orthopedic devices market is expected to reach $53.3 billion by 2021.
Washington, September 23, 2015 (Newswire.com) - IQ4I’s Report Contains 101 market data tables and 34 figures spread through 335 pages and an exhaustive TOC on “Orthopedic Devices Global Market [TYPE (Anatomical location, Consumables and Trauma fixation); APPLICATION (Total Knee Replacement, Total Hip Replacement, Total Shoulder Replacement, Arthroscopic Surgeries, Spine Surgery, Ankle Replacement and Others); END-USERS (Hospitals & Private Orthopedic Clinics); REGION (North America, Europe, Asia Pacific and Rest of the World)]
The global orthopedic devices market is expected to reach $53.3 billion by 2021. This report analyzes the orthopedic devices market in terms of market revenue ($ million) for all segments. The market analysis is performed by TYPE (Anatomical location, Consumables and Trauma fixation); APPLICATION (Total Knee Replacement, Total Hip Replacement, Total Shoulder Replacement, Arthroscopic Surgeries, Spine Surgery, Ankle Replacement and Others); END-USERS (Hospitals & Private Orthopedic Clinics); REGION (North America, Europe, Asia Pacific and Rest of the World).
Orthopedic implant is a medical device developed to replace a troubled bone. The implant is fabricated using specific alloys and coating is done as it acts as a synthetic cartilage. High prevalence of osteoporosis/osteoarthritis and increase in ageing population, increase in preference for biologic implants, increasing awareness of minimally invasive surgeries, increasing number of outpatient procedures, increase in sports and accident injuries drives orthopedic devices market whereas increasing pricing pressure from buyer and payer, high cost of implants are the factors hampering the market growth. Advancement of technology with its wide application areas shows that orthopedic devices market has vast opportunities in the coming years.
The advancements in the field of robotics, computer navigated surgeries, smart implants, nanotechnology, 3D printings, biologics and tissue engineering have been recognized as the future of orthopedics. Now-a-days customized implant is increasing in the market as patient demands more comfortable product fit for implantation. For instance, ConfirMIS a major company which develops personalized implants for knee such as iTotal G2, iDuo G2 etc.
North America accounted for the largest share in 2014. High investments in healthcare infrastructures and demand for quality services in the market propelled the market growth in this region. However, Asia-pacific region is expected to grow at the highest CAGR during the forecast period due to increased healthcare awareness, improved economic growth and increasing government funds. Significant mergers and acquisitions, collaborations, joint ventures are some of the industry trends that are playing a major role for the market growth.
Major players in orthopedic devices market include DePuy Synthes (U.S.), Zimmer Biomet (U.S.), Stryker (U.S.), Medtronic (Ireland), Smith & Nephew (U.K.), Globus Medical Inc (U.S.), Nuvasive (U.S.), DJO Global (U.S.), Integra Lifesciences (U.S.) and Aesculap (Germany). Depuy Synthes accounts for the major orthopedic market share followed by Zimmer Biomet and Stryker. Medtronic is one of the leading companies in the market producing spine implant whereas Depuy Synthes has a major market share in hip implant.
Reasons for buying this report:
· Market assessment of all segments and sub segments of Orthopedic devices market
· In-depth market sizing analysis of various segments and sub segments of Types, Applications, End-Users and Regional markets
· Regulatory scenario across the globe
· Implant materials & Coating
· Technological advancements
· Upcoming Technologies
· Patent Trends
· Market share analysis of key players
· Knee, Hip, Spine market share analysis of key payers
· Major player profiles and their competitive landscaping