The
global Orthopedic Device Market size
is expected to reach USD 47.7 billion by 2026, according to the study performed
by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.1% over
the forecast period. Major factors driving the market include high demand for
orthopedic surgeries owing to rising incidents of road accidents and prevalence
of orthopedic diseases.
Rise
in geriatric population prone to orthopedic conditions is primarily pushing the
demand for orthopedic solutions globally. Effects of aging such as lowering of
bone density and weakening of bones due to excessive loss of bone mass is
prominent in people from 25 to 54 years age group that become more noticeable
after 55 years.
High
adoption of minimally invasive surgeries and increasing number of sports and
road traffic accidents are expected to fuel growth of the orthopedic devices
market growth during the forecast period. Arthroscopy, minimally invasive total
joint replacement, and spine surgeries are some of the newly adopted minimally
invasive surgeries.
Stringent
procedures of regulatory approvals are anticipated to hinder market growth in
near future. In addition, high cost of devices and surgeries are some other
factors likely to impede the growth.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/orthopedic-devices-market
https://www.grandviewresearch.com/industry-analysis/orthopedic-devices-market
Further key findings from the study suggest:
- Knee
orthopedic devices captured the largest market share in 2017 attributed to
rise in knee surgeries including common knee injuries and total knee
replacements
- North America
captured the largest market share in 2017 and is expected to continue
leading over the forecast period. The presence of a large number of major
market players and high adoption of advanced technologies are the major
driving factors
- Asia Pacific
is expected to exhibit a lucrative CAGR during the forecast period. The
presence of a large untapped market and supportive government regulations
are expected to attract attention of the global market players
- Some of the
major players in the orthopedic devices market include NuVasive, Inc.;
Medtronic PLC; Zimmer-Biomet Holdings; DePuy Synthes; Stryker; Aesculap
Implant Systems, LLC; Donjoy, Inc.; and Conmed Corporation.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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