North America orthopedic devices market size to exceed USD 29.2 billion by 2027
The recent report on ‘North America Orthopedic Devices Market’ outlines the growth catalyzing variables as well as the determinants that are likely to obstruct industry development over the projected timeframe 2021-2027.
Pune, India, April 07, 2022 (GLOBE NEWSWIRE) — According to MarketStudyReport, North America orthopedic devices market size is expected to display impressive growth trends and exceed USD 29.2 billion value by the year-end of 2027.
The study explores the geographical scope by listing the regions that contribute to the business outlook during the analysis period. It also demonstrates the key strategies and models, such as PESTEL and Porter’s Five Forces, that will enable the industry players to optimize their earnings and get a better understanding about the attractiveness of the market.
Moreover, it highlights major investment opportunities for stakeholders by identifying key developments in the business environment such as new product launches and mergers & acquisitions.
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High incidence of orthopedic surgeries, growing geriatric population, and rising prevalence of bone disorders are factors driving the market growth.
Furthermore, technological advancements such as minimally invasive surgeries, 3D models for a deeper understanding of the health condition, and implants that increase the lifespan of the injured section will further accelerate industry development in the forthcoming years.
Despite the positive outlook, strict FDA regulations, as well as the high costs of such devices, and rare cases of post-surgery complications might hamper the growth of the business sphere to some extent.
Segmental Analysis:
Based on product type, the joint reconstruction segment of North America orthopedic devices industry is anticipated to grow at 4.4% CAGR through 2027, owing to the soaring occurrence of osteoporosis in elderly population, combined with new therapies resulting in reduced stiffness and high comfort provided by the devices.
Furthermore, the spinal devices segment garnered a 19% market share in the year 2020 and is projected to grow substantially during the study period due to the benefits offered by these implants such as strengthened spine, deformity correction, vertebrae fusion, and various others.
Regional analysis:
As per expert researchers, Canada market is poised to grow at 4.8% CAGR during the predicted timeline on account of the increased number of people diagnosed with orthopedic ailments, massive government spending on new & improved devices for treatments, coupled with a better healthcare system with availability of expert medical professionals.
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Competitive dashboard:
Major players in North America orthopedic devices industry include Alphatec Holdings, Inc., NuVasive, Smith & Nephew plc, Zimmer Biomet Holdings, Inc., AAP Implantate AG, Arthrex, Inc., Stryker Corporations, TriMed, Inc., Medacta International, Inc., and DJO Global among others.
North America Orthopedic Devices Market, By Product Type (Revenue, USD Million, 2016-2027)
- Joint Reconstruction Devices
- Ankle Replacement
- Shoulder Replacement
- Knee Replacement
- Hip Replacement
- Others
- Trauma Fixation Devices
- Arthroscopic Devices
- Spinal Devices
- Orthobiologics
- Others
North America Orthopedic Devices Market, Regional Analysis (Revenue, USD Million, 2016-2027)
- Canada
- U.S.
North America Orthopedic Devices Market, Competitive Dashboard (Revenue, USD Million, 2016-2027)
- Alphatec Holdings, Inc.
- NuVasive
- Smith & Nephew plc
- Zimmer Biomet Holdings, Inc.
- AAP Implantate AG
- Medtronic plc
- ConforMIS, Inc.
- Integra LifeSciences Corporations
- Microport Scientific Corporation
- B. Braun Melsungen AG
- Globus Medical, Inc.
- Waldemar Link GmbH & Co. KG
- CONMED Corporation
- Arthrex, Inc.
- Stryker Corporations
- TriMed, Inc.
- Medacta International, Inc.
- DJO Global
Table of Content:
Chapter 1 Methodology
1.1 Methodology
1.2 Market definition
1.3 Forecast parameters
1.4 Data sources
1.4.1 Secondary
1.4.1.1 Paid sources
1.4.1.2 Unpaid sources
1.4.2 Primary
Chapter 2 Executive Summary
2.1 North America orthopedic devices industry 3600 synopsis, 2016 – 2027
2.1.1 Country trends
2.1.2 Product trends
Chapter 3 North America Orthopedic Devices Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.4 Analysis of COVID-19 impact on the industry
3.5 Porter’s analysis
3.6 Competitive landscape, 2020
3.7 PEST analysis
Chapter 4 North America Orthopedic Devices Market, By Product
4.1 Market trends
4.2 Joint reconstruction devices
4.2.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.2.2 Hip replacement
4.2.2.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.2.3 Knee replacement
4.2.3.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.2.4 Ankle replacement
4.2.4.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.2.5 Shoulder replacement
4.2.5.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.2.6 Others
4.2.6.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.3 Spinal devices
4.3.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.4 Trauma fixation devices
4.4.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.5 Orthobiologics
4.5.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.6 Arthroscopic devices
4.6.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
4.7 Others
4.7.1 Market estimate and forecast, by country, 2016 – 2027 (USD Million)
Chapter 5 North America Orthopedic Devices Market, By Country
Related Report:
Orthopedic Devices Market size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
The orthopedic devices market is anticipated to witness significant growth by 2027 owing to growing penetration of orthopedic devices across the healthcare vertical, improving focus towards setting up a well-developed healthcare infrastructure, and growing adoption of stem cell and tissue engineering technologies. Orthopedic devices are specifically designed to manage or prevent musculoskeletal problems, whereas orthotics support or straighten weak limbs or joints. Just like other branches of medicine, notable technological advances have considerably shaped the orthopedics field in recent years. Numerous advances have arisen in the surgical management of degenerative joint disease. For instance, orthopedic surgeons could now replace a diseased joint with an effective prosthetic device. From a regional frame of reference, in 2020, the orthopedic devices market in Middle East & Africa was valued at above $906 million. The region is poised to grow at a CAGR of 6.6% over the assessment time period. The growing awareness regarding orthopedic devices coupled with surgeries across the countries in the region will drive the regional market growth.
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