Transparency Market Research is Published new Market Report “Orthopedic Devices Market (Hip, Knee, Spine, Shoulder, Elbow, Foot and Ankle, Craniomaxillofacial and Other Extremities) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," the global orthopedic devices market was valued at USD 29.2 billion in 2012 and is expected to grow at a CAGR of 4.9% from 2013 to 2019, to reach an estimated value of USD 41.2 billion in 2019.
Orthopedic devices are used
to provide or restore stability by placing them within the body's skeleton.
These help in correcting the problems associated with the bone and joints such
as injuries or deformities. Insertion of these orthopedic devices such as joint
implants, internal and external fixators involves surgical procedures which can
be minimally invasive. Growing elderly population combined with the rise in
risk for osteoporosis, osteoarthritis, injuries and obesity, contribute to the
growth of this market particularly in emerging economies of the Middle East,
and the Asian countries such as China and India.Furthermore, technological
advancementssuch asbio-absorbableimplants coupled with increase in the success
rate of these implants and fixators in the emerging market, will serve as an
opportunity for investors to invest in.
The global market for
orthopedic deviceshas been studied from the perspective of widely used various
orthopedic devices and number of procedures for particular anatomical
location.The report provides a detailed analysis of orthopedic devices for hip,
knee, shoulder, elbow, foot and ankle, and other extremities. These are further
segmented into joint implants, internal fixation devices and external fixation
devices. The others extremities segment comprises the market for wrists, digits
and hand. The market has also been estimated for spinal orthopedic devices
which includes cervical and thoracolumbar spinal implants and the internal
fixation devices. Moreover, orthopedic devices for craniomaxillofacial
comprises only of internal fixation devices.
In 2012, knee orthopedic
devices accounted for the largest share by revenue of the total orthopedic
devices market. However, the product recalls caused dueto factors such as implant
loosening, corrosion, wear, and manufacturing errors are expected to have a
major impact on the overall marketrevenue. Thus, the U.S. and European markets
are anticipated to see a decline in growth during the forecast period.The
market for hip orthopedic productsaccounted for the second largest share in
2012. It is estimated that the global market for hip deviceswill grow at a CAGR
of over 5.9% from 2013 to 2019, owing to its high incidence rate of hip
fractures and demand for hip replacement procedures.
The report also provides
market estimations for orthopedic consumables during the forecast period of
2013 to 2019. This market has been segmented as anchors and staples. Anchors
form a major share of the total orthopedic consumables market contributing to
around 80% of the market share in 2012. The overall orthopedic consumables
market is expected to grow to reach a value of USD 457 million by 2019.
Geographically, North America
dominatedthe global market for orthopedic devices in terms of revenue
generation and is expected to maintain its position throughout the forecast
period. The adoption of bio absorbable implants, growing elderly population and
rise in incidences of osteoporosis, osteoarthritis, and obesity in the U.S.,
consequently leading to various types of fractures, is expected to contribute
to the leadership of the North American market. Europe was the second largest
regional market for orthopedic devicesin 2012, owing to the increased demand
for drug eluting stents and infusion pumps. Asia-Pacific is expected to be the
fastest growing region in the global orthopedic devices marketfrom 2013 to
2019.
The global hip and knee
orthopedic devices market is dominated by major players including Depuy
Synthes, Zimmer and Stryker, while the overall spinal devices market is dominated
by Medtronic, Depuy, Styrker and NuVasive.
Browse Orthopedic Devices Market Report
with Full TOC at http://www.transparencymarketresearch.com/orthopedic-devices-market.html
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