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(MoneyNewsWire.Net, October 10, 2017 ) The Global Orthopedic Devices Market was worth $38.28 billion in 2016 and estimated to be growing at a CAGR of 5.12%, to reach $49.14 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.
Browse market data tables and in-depth TOC of the Global Orthopedic Devices Market to 2021 @ http://www.marketdataforecast.com/market-reports/global-orthopedic-devices-market-1461/
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.
The growth of the Global Orthopedic Devices Market 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 market.
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The Global Orthopedic Devices market is segmented based on Anatomical location and Type of Consumables. The market 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 market 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 market under this segment with a global share of around 75%.
Global Orthopedic Devices Market Geographical Analysis
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
North America accounted for the largest share in the global Orthopedic Devices market in 2015, with the United States spending nearly 20% of its GDP on health. Europe is the second largest market 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.
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Global Orthopedic Devices Market Leaders' Analysis
• Medtronic
• Stryker
• Zimmer Inc.
• DePuy
• Synthes
• Smith & Nephew
• Biomet
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