Orthopedics is a branch of medicinal surgery dealing with restoration & preservation of the utilities of the musculoskeletal system. It is concerned with injuries, deformities, and prevention of disorders of skeleton & associated structures for instance tendons and ligaments. Orthopedic devices help in treating orthopedic injuries & deformities such as spinal surgery, joint reconstruction, and trauma fixation. The joint reconstruction products contain devices for elbow, hip, knee, wrist, shoulder, ankle, and fingers. These types of medicinal implants are fabricated with titanium & stainless-steel alloys. The implants are coated by plastic coating and act as an artificial cartilage. The major type of medical implants are pins, rods, plates, and screws used to anchor fractured skeleton while they heal.
According to study, “Global Orthopaedic Devices Market Trends and Drivers, Restraints, and Opportunities 2017-2023” some of the major companies that are currently working in the global orthopaedic devices market are NuVasive, Inc., Zimmer Biomet Holdings, Medtronic PLC, DePuy Synthes Inc., AMEDICA, Microport Scientific Corporation, B. Braun Melsungen AG, Smith & Nephew, Inc., camber Spine technologies, bioventus, Wright Medical Group, Inc., Arthrosurface, Ankita Therapeutics, Aesculap Implant Systems LLC, BBS-Bioactive Bone Substitutes, Baxter, 4WEB Medical, Waldemar LINK, Stryker Corp., Advanced Orthopedics, Alphatec Spine Inc., Donjoy, Inc., Acumed Inc., TriMed Inc., Arthrex Inc., Barkeley Advanced Biomaterial, aap Implantate AG, Medacta, DJO Global, AlloSource, Integra LifeSciences, ConforMIS, Inc., Globus Medical, Inc., Conmed Corporation, Emerge Medical, Flower orthopedics, Exactech, Hip Innovation Technology, Graftys, Internal Fixation Systems, Intelligent Implant Systems, Keramat, ISTO Biologics, Medartis, K2M, MicroPort Scientific,, LDR Holding, Orthofix International, OsteoMed, orthogem, RTI Surgical, Paragon 28, Spinal Analytics & Geometrical Implant, Shoulder Innovation, Vilex, Tyber Medical, XTANT Medical, Virak Orthopedics.
Based on type, the global orthopaedic devices market is segmented into lower extremity devices, upper extremity devices, spine orthopedic devices, orthobiologics (bone growth factors, bone graft substitute and bone cement), arthroscopic devices, and braces & support devices. Spine orthopedic devices include artificial discs, fixation nail/rod, fixation screws, fixation plates and fixation wires. Based on product type, market is alienated into surgical devices and accessories. Surgical devices include guide tubes, distracters, implant holder, drill guide, custom clamps, screw drivers and others. Accessories include consumables, braces and others. Based on application, market is divided into radius orthopaedic devices, dental orthopaedic devices, hip orthopaedic devices, elbow orthopaedic devices, Cranio-Maxillofacial (CMF) orthopaedic devices, knee orthopaedic devices and Sports Injuries, Extremities and Trauma (SET) orthopaedic devices.
The global orthopaedic devices are mainly driven by high adoption of minimally invasive procedures, technological innovations, rising trend of smoking & alcohol consumption, high prevalence of diabetes & obesity, increase in the number of sports & road traffic accidents and growing geriatric population. Apart from the major benefits, some of the market restraints include social & ethical issues, lack of uniform reimbursement landscape, dearth of skilled professionals, high cost of implants and increase in number of product recalls.
The North American region held a major share of the global market owing to rise in awareness about the compensation of several orthopedic devices and high health care expenditure in the U.S. In addition, Asia-Pacific is also expected to drive due to rise in incidence of orthopedic diseases & improving economy in India, China and other countries. In 2018, the global orthopaedic devices market held at US$42.3 billion and it is expected that the market to grow at rapid pace due to higher incidences of osteoarthritis, musculoskeletal & osteoporosis disorders.
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Global Orthopaedic Devices Market
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