What is Global Orthopaedic Devices Market?
The Global Orthopaedic Devices Market is a vast and dynamic sector that encompasses a wide range of medical devices designed to assist in the diagnosis, treatment, rehabilitation, and prevention of disorders and injuries of the musculoskeletal system. This includes conditions affecting the bones, joints, ligaments, tendons, muscles, and nerves. The market is driven by several factors such as the increasing prevalence of orthopaedic conditions like osteoporosis and arthritis, growing geriatric population, technological advancements, and the rising demand for minimally invasive surgical procedures. The market is also influenced by the increasing awareness about the availability of innovative orthopaedic devices and the growing healthcare expenditure in emerging economies. However, the high cost of these devices and stringent regulatory approval processes pose challenges to the market growth.
Drill Guide, Guide Tubes, Implant Holder, Custom Clamps, Screw Drivers, Others in the Global Orthopaedic Devices Market:
The Global Orthopaedic Devices Market is segmented into various types of devices including Drill Guide, Guide Tubes, Implant Holder, Custom Clamps, Screw Drivers, among others. Drill Guides are used to guide the drill bit during bone drilling procedures. Guide Tubes are used to guide the insertion of screws or other devices into the bone. Implant Holders are used to hold the implant in place during surgery. Custom Clamps are used to secure the implant to the bone. Screw Drivers are used to drive screws into the bone. Each of these devices plays a crucial role in orthopaedic surgeries and procedures, contributing to the overall growth of the market.
Hip, Knee, Spine, Dental, Craniomaxillofacial, Extremities, Other in the Global Orthopaedic Devices Market:
The usage of Global Orthopaedic Devices Market is widespread in various areas including Hip, Knee, Spine, Dental, Craniomaxillofacial, Extremities, among others. Hip and knee replacements are common procedures that require orthopaedic devices. Spinal devices are used in procedures to correct spinal deformities and treat conditions like spinal stenosis and disc herniation. Dental implants are also a part of the orthopaedic devices market. Craniomaxillofacial devices are used in surgeries involving the facial bones and skull. Devices for extremities are used in hand and foot surgeries. The wide range of applications of these devices in various orthopaedic procedures contributes to the growth of the market.
Global Orthopaedic Devices Market Outlook:
Based on our research, the global market for medical devices, which includes orthopaedic devices, is projected to reach a value of US$ 603 billion by the year 2023. This represents a significant growth from the current market size, driven by various factors such as technological advancements, increasing prevalence of orthopaedic conditions, and growing healthcare expenditure. The market is expected to grow at a compound annual growth rate (CAGR) of 5% over the next six years. This growth trajectory indicates a promising future for the Global Orthopaedic Devices Market.
| Report Metric | Details |
| Report Name | Orthopaedic Devices Market |
| Accounted market size in year | US$ 603 billion |
| CAGR | 5% |
| Base Year | year |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | NuVasive, Inc., Medtronic PLC, Zimmer-Biomet Holdings, DePuy Synthes Companies, Stryker Corporation, Aesculap Implant Systems, Inc., Donjoy, Inc., Conmed Corporation |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
