Global $11.72 Billion Orthopaedic Devices Markets, 2023: Technological Advancements & Increase Usage of Orthopedic Biomaterials

8/28/2017, 10:46 AM (Source: GlobeNewswire)

Dublin, Aug. 28, 2017 (GLOBE NEWSWIRE) -- The "Global Orthopaedic Devices Market Trends and Drivers, Restraints, and Opportunities 2017-2023" report has been added to Research and Markets' offering.

The Orthopedic Devices Market revenue in APAC is expected to reach $11.72 billion by 2023, growing at a CAGR of 7.38% during the forecast period 2017-2023.

Factors, such as the increased prevalence of orthopedic diseases, the presence of a large pool of patients, and an increase in the awareness about treatment for complex orthopedic issues, drive the market growth. The increase in government spending in healthcare, infrastructure, research centers, and establishing of manufacturing facilities by major vendors in the Global Orthopedic Devices Market are also influencing the high growth rate of the market.

The Global Orthopedic Devices Market is dominated by the spine implants segment due to the presence of advanced fusion and non-fusion procedures performed with orthobiologics and the availability of clinical data regarding the safety and efficacy of the devices. This enables surgeons to adopt devices for treatment of various spine-related disorders as these surgeries contribute 60% of the total orthopedic procedures. Therefore, opportunities for growth in the emerging economies of Latin America and APAC are vast. The increasing adoption of MI surgeries in treating orthopedic disorders, particularly in the elderly population, and the growing availability of devices in the Global Orthopedic Devices Market also contribute to the growth of the market.

The ageing population in addition to increasing life expectancy is a primary driver for all the medical industry segments. The US has the largest aging population with people aged above 65 years totaling up to 46 million, in Europe about 19% of the people were aged above 65 years, and 26.7% of the people were aged above 65 years in Japan, in 2016. These three markets have a major bearing, as all the key vendors are present in these regions accounting for about 80%-85% of the Global Orthopedic Devices Market. However, only 12.84% of the world population accounts for the 954 million people who live in these geographic regions as of 2016. The growth prospects and opportunities for orthopedic devices exist outside these markets as most of the emerging and underdeveloped regions require musculoskeletal care.

The regions covered in the report Global Orthopedic Devices Market are North America, Europe, Asia Pacific, and RoW. North America is the leading region for the growth of the Orthopedic Devices Market followed by Europe. There has been a significant increase in the number of individuals undergoing treatment for various orthopedic procedures in the US.

Europe accounted for the second largest share of the market with chronic pain being one of the major complications of the orthopedic disorder cases. In 2015, the public spending on healthcare in Europe amounted to 18% of the overall government expenditure. The expenditure on chronic pain care with orthopedic devices is directly reimbursed to hospitals within the NHS. Clinical evidence of orthopedic devices compared to other treatment, such as drug therapy, is expected to increase during the forecast period.

Currently, the Global Orthopedic Devices Market is dominated by the spine implants segment having the maximum number of procedures and sales of spinal implants in the market. Vendors are investing huge amounts in R&D to develop new innovative products with newer applications, thus focusing to offer novel devices. Most of the vendors in the Global Orthopedic Devices Market expand their business by M&A, partnership, and trade shows.

Prominent players, such as Zimmer Biomet, DePuy Synthes, Stryker, Medtronic, and Smith & Nephew, along with other universities and orthopedic research centers are coming up with new orthopedic products in the market, which are expected to grow tremendously during the forecast period. Significant investments in R&D and increased awareness about complex orthopedic procedures are expected to boost the market growth.

Key Topics Covered:

1 Industry Outlook
1.1 Industry Overview
1.2 Definition: Orthopedics
1.3 Healthcare Spending in the US
1.4 Third-party Reimbursement
1.5 Emerging Global Markets
1.6 Musculoskeletal disorders
1.6.1 Knee Implants
1.6.2 Hip Implants
1.6.3 Ankle & Foot Implants
1.6.4 Shoulder Implants
1.6.5 Spine Implants
1.6.6 Trauma Fixation Devices
1.6.7 Sports Medicine Devices
1.6.8 Orthobiologics
1.7 Industry Trends
1.8 PEST Analysis

2 Report Outline

3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 Related Markets

4 Market Outlook
4.1 Overview
4.2 Importance of Orthopedic Devices
4.3 Porter 5(Five) Forces
Market Characteristics
4.4 Evolution
4.5 DRO - Global Orthopedic Devices Market Dynamics
4.5.1 Drivers Rise in the prevalence of orthopedic disorders Rising number of road accidents Increasing popularity of MI orthopedic surgeries Rise in elderly population Increase in number of outpatient procedure
4.5.2 Opportunities Technological advancements Increase usage of orthopedic biomaterials Increase healthcare spending Increase in mergers & acquisitions
4.5.3 Restraints Complications and risk associated with orthopedic procedures Product recall High cost of orthopedic procedures Stringent regulatory framework and labeling requirement Lack of reimbursement policies Intense competition among vendors
4.5.4 DRO - Impact Analysis
4.5.5 Key Stakeholders

5 Types: Market Size and Analysis
5.1 Overview
5.2 Knee Implants
5.2.1 Overview
5.2.2 Total Knee Replacement
5.2.3 Partial Knee Replacement
5.2.4 Revision Knee Implant
5.3 Hip Implants
5.3.1 Overview
5.3.2 Total Hip Replacement Implant
5.3.3 Partial Hip Replacement Implant
5.3.4 Revision Hip Replacement Implant
5.3.5 Hip resurfacing
5.4 Foot and Ankle Devices
5.4.1 Overview
5.4.2 Implants
5.4.3 Support Devices
5.5 Upper extremities (Shoulder, Elbow, Wrist, and Fingers)
5.5.1 Overview
5.5.2 Total Shoulder Replacement
5.5.3 Stemmed Hemiarthroplasty
5.5.4 Resurfacing Hemiarthroplasty
5.5.5 Reverse Total Shoulder Replacement
5.6 Spine Implants
5.6.1 Overview
5.6.2 Spinal Fusion Implants
5.6.3 Spinal Non-fusion Implants
5.7 Trauma Fixation Devices
5.7.1 Overview
5.7.2 Internal Fixation
5.7.3 External Fixation
5.8 Sports Medicine
5.8.1 Overview
5.9 Orthobiologics
5.9.1 Overview

6 End User: Market Size and Analysis
6.1 Overview
6.2 Hospitals
6.3 Ambulatory Care
6.3.1 ASCs in the Americas US Canada Mexico
6.3.2 ASCs in the EMEA Region France UK Israel Africa
6.3.3 ASCs in the APAC Region Australia India China
6.4 Trauma Centers

7 Regions: Market Size and Analysis
7.1 Overview
7.2 North America
7.3 Europe
7.4 APAC
7.5 Rest of the World
7.5.1 Market Overview

8 Competitive Landscape

9 Vendor Profiles
9.1 Johnson & Johnson (DePuy Synthes, Inc.)
9.2 Medtronic PLC
9.3 Stryker Corp.
9.4 Smith & Nephew, Inc.
9.5 Zimmer Biomet Holdings, Inc.

10 Companies to Watch For
10.1 Arthrex, Inc
10.2 NuVasive.
10.3 K2M
10.4 SeaSpine Holdings Corp.
10.5 Orthofix Intenational N.V.

11 Other prominent vendors

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