August 10th, 2022 Coherent Market Insights Releases
Surgical devices that manipulate bone and cartilage are called osteochondral implants. These devices are hand-held and used to manipulate the implant and bone during orthopedic surgery. Some of these instruments are awl, benter, drill brace, and burr. These instruments are designed to mimic other devices used in orthopedic surgery. Some examples of orthopedic devices include osteochondral implants, bone screws, hammers, and retractors.
Orthopedic devices are majorly used in fractures, trauma and for correcting bone deformities. Joint implants are basically used for treating deformities in knee, pectoral and pelvic girdle.
The global orthopedic devices market is estimated to account for US$ 60,052.8 Mn in terms of value by the end of 2019.
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Global Orthopedic Devices Market: Drivers
According to the National High School Sports-Related Injury Surveillance Study 2017-2018, 1,367,490 cases of sport-related were recorded in high schools in the U.S. Such rising number of sport-related injuries is projected to propel growth of the global orthopedic devices market over the forecast period.
Global Orthopedic Devices Market: Opportunities
Development and launch of next generation orthopedic devices is projected to offer lucrative growth opportunities for players in the global orthopedic devices market. For instance, in February 2019, Breg, Inc. launched Breg Quantum OA, a next generation unloader knee brace for mild to severe osteoarthritis.
Global Orthopedic Devices Market: Restraints
Product recalls is a key factor that is expected to hinder growth of the market. For instance, in March 2020, NuVasive, Inc. issued recall of its Magec System Model X rods for patients with early onset scoliosis.
The global orthopedic devices market was valued at US$ 40,772.0 Mn in 2019 and is forecast to reach a value of US$ 60,052.8 Mn by 2027 at a CAGR of 5.0% between 2020 and 2027. Increasing number of sport-related injuries is expected to propel growth of the global orthopedic devices market over the forecast period
Hip Orthopedic Devices segment held dominant position in the global orthopedic devices market in 2019, accounting for 31.2% share in terms of value, followed by Knee Orthopedic Devices Market and Spine, respectively. Development and launch of next generation orthopedic devices is expected to drive the growth of the market during the forecast period.
Growing number of road accidents is accelerating growth of the market. For instance, according to the Ministry of Road Transport and Highways, Government of India, in 2018, the number of road accidents increased by 0.46% compared to 2017.
The market is experiencing use of 3D technology in development of orthopedic devices. For instance, in April 2020, the research ‘Patient-specific 3D-printed Splint for Mallet Finger Injury,’ published in the International Journal of Bioprinting’, in April 2020, reported use of an Ultimaker 2 Extended+ 3D printer to fabricate splint for mallet finger injury.
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Global Orthopedic Devices Market: Competitive Landscape
Major players operating in the global orthopedic devices market include, aap Implantate AG, Aesculap, Inc., Arthrex, Inc., ArthroCare Corporation, Biomet, Inc., Conmed Corporation, DePuy Synthes, Inc., OSSIO, Globus Medical, Inc., NuVasive, Inc., Conventus Orthopaedics, DJO Global, Inc., and Breg, Inc.
Global Orthopedic Devices Market: Key Developments
January 2019: OSSIO, an orthopedic fixation company, announced that its OSSIOfiber Bone Pin Family received 510(k) market clearance from the U.S. Food and Drug Administration (FDA) for the treatment of forefoot conditions.
November 2018: DJO Global, Inc., a provider of orthopedic technologies, partnered with SirenMD, a workplace collaboration platform, to become the exclusive sales representative for SirenMD’s sports team market
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Chapter 1 Industry Overview 1.1 Definition 1.2 Assumptions 1.3 Research Scope 1.4 Market Analysis by Regions 1.5 Orthopedic Devices Market Size Analysis from 2022 to 2028 11.6 COVID-19 Outbreak: Orthopedic Devices Industry Impact
Chapter 2 Global Orthopedic Devices Competition by Types, Applications, and Top Regions and Countries 2.1 Global Orthopedic Devices (Volume and Value) by Type 2.3 Global Orthopedic Devices (Volume and Value) by Regions
Chapter 3 Production Market Analysis 3.1 Global Production Market Analysis 3.2 Regional Production Market Analysis
Chapter 4 Global Orthopedic Devices Sales, Consumption, Export, Import by Regions (2017-2022) Chapter 5 North America Orthopedic Devices Market Analysis Chapter 6 East Asia Orthopedic Devices Market Analysis Chapter 7 Europe Orthopedic Devices Market Analysis Chapter 8 South Asia Orthopedic Devices Market Analysis Chapter 9 Southeast Asia Orthopedic Devices Market Analysis Chapter 10 Middle East Orthopedic Devices Market Analysis Chapter 11 Africa Orthopedic Devices Market Analysis Chapter 12 Oceania Orthopedic Devices Market Analysis Chapter 13 South America Orthopedic Devices Market Analysis Chapter 14 Company Profiles and Key Figures in Orthopedic Devices Business Chapter 15 Global Orthopedic Devices Market Forecast (2022-2028) Chapter 16 Conclusions Research Methodology
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