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Technavio’s market research analyst predicts the global orthopedic device market to grow steadily at a CAGR of around 4% by 2020. Factors such as the increasing aging population and the augmented incidence of orthopedic diseases, such as arthritis, bursitis, fibromyalgia, hip pain, knee pain, trauma, and osteoporosis, are anticipated to bolster the prospects for growth in this market during the predicted period.
Recent technological advancement pertaining to medical technology is the key driver for the growth of this market. Bioabsorbable implants and titanium-based orthopedic devices are examples of technologically advanced products, which help to diminish the complications associated with the use of bioabsorbable materials. The ability of such implants to offer advantages like rigidity, strength, fracture toughness, and increased mechanical performance is a key factor that fosters its adoption during the predicted period.
Technavio market research analysts have estimated the spine orthopedic devices segment to account for a market share of more than 27% by the end of 2020. Factors like the rising incidence of spinal disorders and the growing preference for minimally invasive spinal surgeries are the major factors that fuel the demand for spine-related devices during the forecast period.
The Americas accounted for more than 61% of the total market share in 2015 and is expected to grow at a CAGR of around 4% during the forecast period. Eminent factors, such as the rise in aging population, increasing number of orthopedic disorder patients, and the launch of new products, are envisaged to foster market growth in this region during the predicted period.
The global orthopedic device market is fragmented due to the presence of large, medium, and small sized vendors. This market is likely to experience rapid growth and development owing to the launch of new products and marketing activities by key industry participants.
The leading vendors in the market are -
Other prominent vendors in this market are AAP Implantate, Acumed, Aesculap Implant Systems, Arthrex, Arthrosurface, Alphatec Spine, Bonovo Orthopedics, ConforMIS, Corin, Elite Surgical, Ellipse Technologies, EUROS FRANCE, Exactech, FH ORTHOPEDICS, Globus Medical, K2M, Integra LifeSciences, Lima corporate, Medartis, Medacta, Microport Medical, NuVasive, Ortosintese, Orthopaedic Implant Company, Orthofix International, Osteomed, PETER BREHM, Surgival, Tornier, Tyber Medical, and Zavation
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Global spine orthopedic devices market
PART 08: Global trauma and extremities orthopedic devices market
PART 09: Global knee orthopedic devices market
PART 10: Global hip orthopedic devices market
PART 11: Global foot and ankle orthopedic devices market
PART 12: Geographical segmentation
PART 13: Market drivers
PART 14: Impact of drivers
PART 15: Market challenges
PART 16: Impact of drivers and challenges
PART 17: Market trends
PART 18: Vendor landscape
PART 19: Appendix
PART 20: Explore Technavio
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