Global Orthopedic Devices Industry Size to touch .14 billion by 2021
Posted by MDFtrends on October 6th, 2017
According to the report Global Orthopedic Devices Industry, published by Market Data Forecast, The Industry was worth .28 billion in 2016 and estimated to be growing at a CAGR of 5.12%, to reach .14 billion by 2021.
An orthopedic device is utilized to assist or substitute the missing bone or joint. It aids in rebuilding or reinforcing the damaged configuration.
In order to acquire a biocompatible tool, several properties of musco-skeletal tissues such as tendon, bone, ligament, and cartilage need to be properly comprehended. The materials utilized in the devices must be compatible with the body in order to prevent rejection. This data helps us in creating materials and plans that are explicitly custom-made for each type of tissue defect.
Browse industry data tables and in-depth TOC of the Orthopedic Devices Industry to 2021 @ http://www.marketdataforecast.com/market-reports/global-orthopedic-devices-market-1461/
The growth of the Global Orthopedic Devices Industry is mainly driven by factors such as rise in geriatric population, growing frequency of osteoarthritis and osteoporosis, and rise in sports injuries and road accidents. However, factors such as costly procedures & equipment, recurrent product recalls, and unfavorable economic conditions are hindering the growth of the industry.
The Global Orthopedic Devices industry is segmented based on Anatomical location and Type of Consumables. The industry for Orthopedic Devices, on the basis of Anatomical location is segmented into Knee, Shoulder, Foot and Ankle, Hip, Spine, Elbow, Craniomaxillofacial, and Others. The knee segment is the largest segment, by Anatomical location, whereas the in geriatric populace, increase in frequency of hip fractures, and mounting demand for hip replacement Hip segment is projected to be the fastest growing segment. This is due to various factors such as rise surgeries. On the basis of Type of Consumables, the global Orthopedic Devices industry is segmented into Orthopedic staples and Orthopedic suture anchors. Orthopedic suture anchors are further segmented into resorbable suture anchors and metallic suture anchors. The Orthopedic suture anchors segment dominates the industry under this segment with a global share of around 75%.
Free sample of the report is available @ http://www.marketdataforecast.com/market-reports/global-orthopedic-devices-market-1461/request-sample
The industry has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America accounted for the largest share in the global Orthopedic Devices industry in 2015, with the United States spending nearly 20% of its GDP on health. Europe is the second largest industry and is boosted by the rising demand for infusion pumps and drug-eluding stents. However, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to reasons such as growing geriatric populace and rising frequency of obesity and bone-related ailments.
The industry is categorized by the existence of diversified international and national companies, where the global players lead the industry and are predicted to grow exponentially by securing regional or local companies. The major companies dominating the global Orthopedic Devices industry are Medtronic, Stryker, Zimmer Inc., DePuy, Synthes, Smith & Nephew, and Biome
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