Global Orthopedic Devices Market size was valued at USD 43.8 billion in 2016 and estimated to reach USD 58.81 billion with expanding at a CAGR of 4.3% By 2023 says Market Research Future (MRFR). North America is leading the global orthopedic devices industry with 40% market share followed by Europe with market value USD 19.46 billion till 2023. Asia Pacific orthopedic devices market size to exhibit a CAGR of 6.2% By 2023. Global orthopedic devices market share is expected to witness significant growth due to rising prevalence of osteoporosis, product development and exponential growth in emerging economies.
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Market Key Players:
Top Key players in the global orthopedic devices market include
• DePuy Synthes Companies (USA)
• Globus Medical Inc. (USA)
• Medtronic (Republic of Ireland)
• NuVasive, Inc. (USA)
• Smith & Nephew PLC. (UK)
• Stryker Corporation (USA)
• Zimmer Inc. (USA)
Segmentation:
The global orthopedic devices market segmented by
• Application
• End-users
• Type
By application, the global orthopedic devices market has been segmented into
• Foot & ankle
• Hip
• Knee
• Spine
• Trauma & extremities
By end-users, the global orthopedic devices market has been segmented into
• ambulatory surgery centers
• hospitals
• medical research center
By type, the orthopedic devices market has been segmented into
• Bone repair
• Consumables & disposables
• Joint replacement
• Spinal devices
• Trauma fixation
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Regional Insights:
A geographical outlining of the global orthopedic devices market covers
• North America
• Asia Pacific
• Europe
• Middle East & Africa (MEA)
The USA holds the largest orthopedic devices market share when it comes to generating revenue for the North American market.
Europe will be the second largest regional orthopedic devices market share by 2023 with USD 19,467.6 million. is projected to grow rapidly owing to rising number of unhealthy patients, growing demand for medical facilities, availability of advanced medical facilities and changing lifestyles of consumers
Asia Pacific orthopedic devices market size is expected to grow at a CAGR of 6.2% over the forecast period. Asia Pacific orthopedic devices market to be driven by the rise in technological progress, high density of population, development of infrastructure and growing demand for better medical facilities.
The MEA orthopedic devices market share is smaller than other and is anticipated to grow at a steady pace. Reasons for the limited orthopedic devices market growth include lack of poor orthopedic devices facilities, technical knowledge, and underdeveloped healthcare sector.
Market Dynamics
Brows More Healthcare Related Research Reports:
• Middle East and Africa Orthotic Devices Market Research Report- Forecast To 2023
• Global Orthopedic Trauma Devices Market – Forecast to 2022
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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