About Orthopedic Devices
Orthopedic Device is a piece of equipment that is used for preventing and treating deformities and injuries of the musculoskeletal system in man. Orthopedic devices comprise of prostheses, bandages, splints and special apparatus. Orthopedic devices are designed to prevent or manage musculoskeletal problems. Orthopedic fixation devices are used in the treatment of, soft-tissue injuries, reconstructive surgery and fractures. After reduction of fracture, internal, external fixation devices are used to provide constancy and maintain the placement of bone fragments during the healing process.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Due to increasing global competition, innovation is crucial for the growth and survival of medical device manufacturers. The manufacturers are creating new ideas and technologies must comply with safety, reliability and performance. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Orthopedic Devices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Stryker Corp. (United States), DePuy Synthes (United States), Zimmer Biomet (United States), Smith & Nephew (United Kingdom), Medtronic Spinal (United States), DJO Global (United States), Integra Lifesciences (United States), NuVasive Inc. (United States), Wright Medical (United States), J & J Medical Device Company (United States), B. Braun Melsungen (Germany) and JRI Orthopaedics (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Globus Medical (United States).
Segmentation Overview
AMA Research has segmented the market of Global Orthopedic Devices market by Type (Fixing Device [Internal and External], Relieving Devices, Corrective Devices, Compression-Distraction Devices and Others), Application (Back Supports and Braces, Foot and Ankle Supports, Cervical Collars, Knee and Elbow Braces, Hip Replacement, Dental Orthopedic Devices and Others) and Region.
On the basis of geography, the market of Orthopedic Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Metal Used, the sub-segment i.e. Stainless Steel will boost the Orthopedic Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Hospitals will boost the Orthopedic Devices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Awareness Regarding Availability of Innovative Products
Market Growth Drivers:
Increasing Number of People Undergoing Joint Replacement Surgeries and Increasing Use of Biodegradable Implants in Trauma Orthopedic Surgeries
Challenges:
Design, Development and Manufacturing of Orthopedic Devices Are Complex
Restraints:
Manufacturing of Orthopedic Devices is Time-Consuming and Cost Intensive Processes
Opportunities:
High Demand for Devices That Support Immediate Cure
Market Leaders and their expansionary development strategies
On April 25, 2019- Stryker, announced that it has completed the acquisition of Arrinex, Inc., a medical device company headquartered in Menlo Park, California, that has developed ClariFix, a novel cryoablation technology for the treatment of chronic rhinitis.
On January 30, 2019- DePuy Synthes has launched the Femoral Neck System, an innovative new implant solution for the repair of femoral neck fractures. The Femoral Neck System is designed to address the need for improved treatment options for these types of fractures by combining stable fixation in a compact design with a minimally invasive approach, with the intent to reduce complications associated with current devices on the market.
According to the FDA’s 21 CFR Part 803 Medical Device Reporting (MDR), if a device may have caused or contributed to a death or serious injury, the incident must be reported to the FDA.
Key Target Audience
Manufacturers of Orthopedic Devices, Suppliers of Orthopedic Devices, Wholesalers, Distributors and Retailers of Orthopedic Devices, Healthcare Industry, Research Organization and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.