ORTHOPEDIC DEVICES MARKET ANALYSIS

Orthopedic Devices MarketSize and Trends

Statistics:

The global orthopedic devices market is estimated to account for US$ 60,052.8 Mn in terms of value by the end of 2027.

Statistics:

North America held dominant position in the global orthopedic devices market in 2019, accounting for 39.4% share in terms of value, followed by Europe and Asia Pacific, respectively

Figure 1: Global Orthopedic Devices Market Share (%) Value, By Region, 2019

Statistics:

The global orthopedic devices market was valued at US$ 40,772.0 Mn in 2019 and is forecast to reach a value of US$ 60,052.8 Mn by 2027 at a CAGR of 5.0% between 2020 and 2027.

Figure 2: Global Orthopedic Devices Market Value (US$ Bn), 2016 – 2027

Market Trends/Key Takeaways

Increasing prevalence of obesity is boosting growth of the market. For instance, the study, ‘Rising incidence of obesity in Saudi residents. A threatening challenge for the surgeons’, published in the International Journal of Health Sciences, in January 2018, reported obesity in 42% of the study population with low physical activity levels and unhealthy dietary habits.

Major players in the market are focused on R&D of new devices. For instance, in June 2018, Breg, Inc. hosted a co-creation workshop on bracing solutions with orthopedic surgeons and administrators