Luton, Bedfordshire, United Kingdom, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Orthopedic Devices Market.
The global orthopedic devices market size is expected to grow at a CAGR of over 5% between 2022 and 2029. The market was estimated at USD 39.54 Billion in 2020 to USD 50.48 Billion.
Orthopedic devices are intended to stabilize posture by treating deformities and restore normal skeletal function by replacing or reinforcing damaged parts. Moreover, the combination of these innovations and modern diagnostic techniques has greatly reduced the need for complex surgical procedures in orthopedics.
The market growth is attributed to the high incidence of orthopedic diseases such as degenerative bone disease, as well as the aging population and increasing traffic accidents. Moreover, the early emergence of musculoskeletal disorders, mainly caused by sedentary lifestyle and obesity, is expected to spur market growth.
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North America is a developed nation with modern infrastructure, rising urbanization, well-equipped technologies, and an increase in medical facilities. They have captured the largest share in the global orthopedic device market around the world with a good success rate.
Breg, Inc. Overview: In June 2018, Breg, Inc. hosted a co-creation workshop on bracing solutions with orthopedic surgeons and administrators.
Smith & Nephew Overview: Smith & Nephew acquired Brain lab’s orthopedic joint reconstruction business. This acquisition is expected to boost the development and adoption of digital technologies to enhance efficiency and outcomes during surgeries, which may positively impact the market’s growth.
Medtronic Overview: Medtronic announced the launch of the titanium spinal implant, Adaptix Interbody System, a navigated titanium implant with Titan nanoLOCK surface technology, a blend of surface textures on the macro, micro, and nano levels, in the United States.
Regional outlook- In 2021, North America grabbed most of the market share in the orthopedic devices market and still has the largest market share worldwide.
North America is a developed nation with modern infrastructure, rising urbanization, well-equipped technologies, and an increase in medical facilities. They have captured the largest share in the global orthopedic device market around the world with a good success rate. Asia Pacific regions include the two most world’s populated countries, China and India and according to the demographic study, by 50 years, it is estimated that 1 out of 4 people would be above the age of 60. Old people are easily prone to bone diseases like osteoarthritis and likely breakage of bone due to falling and slipping.
Orthopedic Devices Market - Growing competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of Orthopedic Devices Market. Orthopedic Devices Market - Latest Advancement and Analysis
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Orthopedic Devices Market Key Insights
Orthopedic Devices Market Report Introduction
Orthopedic Devices Market Research Methodology
Orthopedic Devices Market Executive Summary
Orthopedic Devices Market Data Triangulation
Orthopedic Devices Market Bottom-Up Approach
Orthopedic Devices Market by Product Benchmarking
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