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Global Orthopedic Devices Market to Grow at 4.2% CAGR by 2028

Date: January 09, 2023 Ashwin Naphade Ashwin Naphade
Global Orthopedic Devices Market to Grow at 4.2% CAGR by 2028

The report on ‘Global Orthopedic Devices Market’ available with MarketStudyReport, states that global orthopedic devices market is anticipated to expand at a considerable rate of 4.2% CAGR through 2028.

The main factors driving the growth of global orthopedic devices market is the high frequency of orthopedic disorders, such as degenerative bone disease, as well as the expanding aging population, and the rising number of traffic accidents.

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For those unaware, medical equipment known as orthopedics is employed in the diagnosis, treatment, and prevention of musculoskeletal disorders and injuries. These tools support the shattered bone while also helping to repair missing or broken skeleton parts.

The market is segmented on the basis of application scope, product type, surgery type, and end-user scope. Based on application scope, the market is segregated into hip orthopedic devices, spine orthopedic devices, knee orthopedic devices, dental orthopedic devices trauma, and extremities (SET) orthopedic devices, sports injuries, and craniomaxillofacial (CMF) orthopedic devices. Among these, knee orthopedic devices application segment of worldwide orthopedic devices market is anticipated to capture a huge revenue share during the analysis period.

Based on product type, the market is bifurcated into guide tubes, drill guides, implant holders, distracters, custom clamps, screwdrivers, and accessories. In terms of surgery type, the market is split into minimally invasive surgery and open surgery. Minimally invasive surgery segment is anticipated to exhibit a considerable CAGR during the forecast period, owing to the increasing demand.  

On the basis of end-user, the business sphere is divided into orthopedic clinics, hospitals, and others. Among these, the hospital segment is predicted to hold a prominent market share over the analysis period.

Geographically, this marketplace is analyzed into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America stands tall in terms of market share and is poised to record a considerable CAGR through the analysis period, due to high frequency of orthopedic disorders, such as degenerative bone disease, as well as the expanding aging population.

Some of the prominent players that contribute significantly to the global orthopedic devices industry vertical are DePuy Synthes (Johnson & Johnson), Medtronic plc, Stryker Corporation, B.Braun Melsungen AG, NuVasive Inc., Zimmer Biomet Holdings, Orthofix Medical Inc., Globus Medical Inc., Aesculap Inc., Donjoy Inc., and Conmed Corporation.

Questions & Answers: Global orthopedic devices market

Question 1: Which are the major factors driving the global orthopedic devices market growth?

Answer: The main factors driving the growth of global orthopedic devices market is the high frequency of orthopedic disorders, such as degenerative bone disease, as well as the expanding aging population, and the rising number of traffic accidents.

Question 2: How will North America market influence global orthopedic devices market growth?

Answer: Due to high frequency of orthopedic disorders, such as degenerative bone disease, as well as the expanding aging population. The demand for orthopedic devices is propelling in North America, thus making it an influential region for overall market expansion.

Question 3: Which companies define the competitive landscape in global orthopedic devices market?

Answer: Some of the prominent players that contribute significantly to the global orthopedic devices industry vertical are DePuy Synthes (Johnson & Johnson), Medtronic plc, Stryker Corporation, B.Braun Melsungen AG, NuVasive Inc., Zimmer Biomet Holdings, Orthofix Medical Inc., Globus Medical Inc., Aesculap Inc., Donjoy Inc., and Conmed Corporation.

For more details on this report: https://www.marketstudyreport.com/reports/global-orthopedic-devices-market-trends-analysis-and-forecast-2019-2028/

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Ashwin Naphade

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interests also cover the game of cricket (seeing as well as playing) and movies ( a typical bollywood buff).