Global Orthopedic Devices Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

Global Orthopedic Devices Market Overview

This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

Orthopedic devices are medical devices that help individuals in restoring mobility, body posture, and are extensively used in treatment of deformities in skeletal function. Orthopedic devices are primarily used to treat individuals with a view to improve overall quality of life. These devices function by replacing or reinforcing the damaged body parts.

Increasing incidence of osteoarthritis, osteoporosis and musculoskeletal disorders is a major factor driving growth of the global orthopedic devices market. In addition, technological advancements in orthopedic devices and increasing incidence of sport injuries are other major factors expected to boost growth of the global orthopedic devices market over the forecast period.

However, high cost of treatment is a major factor restraining growth of the global orthopedic devices market. Additionally, long term safety concerns of orthopedic devices, especially metal implants is another major factor expected to hamper growth of the global orthopedic devices market over the forecast period.

Currently, North America's market accounts for the highest share in the global orthopedic devices market in revenue terms, owing to growing awareness about medical implants in the region. The market in Europe accounted for second-highest revenue share in the global orthopedic devices market, due to high healthcare expenditure by governments of countries, and high disposable income, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively.

The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing number of patients suffering from accidents, presence of a large geriatric population, and rise in government initiatives for the improvement of healthcare facilities in the region. Moreover, the markets in Latin America and Middle East & Africa are expected to witness moderate growth over the forecast period. Also, revenue from the market in Middle East & Africa is projected to register a CAGR of X.X% over the forecast period.

Global orthopedic devices market segmentation:

By product:

• Surgical Devices
  • Drill Guide
  • Guide Tubes
  • Implant Holder
  • Custom Clamps
  • Others (Distracters and Screw Drivers)
• Accessories
  • Braces
  • Consumables

By application:

• Hip
• Knee
• Spine
• Craniomaxillofacial
• Dental
• Sports Injuries, Extremities, and Trauma (SET)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa