MARKET OVERVIEW
Orthopedic devices are the equipment used for preventing and treating deformities and injuries of the musculoskeletal system in a human body. Some of the standard orthopedic devices used are splints, bandages, prostheses, and special apparatus. With an increase in orthopedic disorders, the market for orthopedic devices has witnessed significant growth in recent years.
MARKET SCOPE
The "Global Orthopedic Devices Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the orthopedic devices market with detailed market segmentation by type, application, end user, and geography. The report provides key statistics on the market status of the leading orthopedic devices market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- ?Based on type, the global orthopedic devices market is segmented into joint reconstruction, spinal devices, trauma fixation, orthopedic prosthetics, arthroscopy devices, orthopedic braces and supports, orthopedic accessories, and other products.?Based on application, the global orthopedic devices market is segmented into spine orthopedics, knee orthopedics, hip orthopedics, craniomaxillofacial orthopedics, dental orthopedics, and sports injuries, extremities and trauma (SET) orthopedics.?Based on end user, the market is bifurcated into hospitals, orthopedic clinics, ambulatory surgical centers, and other end users.
MARKET DYNAMICS
Drivers:
- ?Rising geriatric population susceptible to orthopedic disorders such as, osteoporosis?Increase in the orthopedic procedures?Reimbursements offered by government bodies
Restraints
- ? High cost associated with procedures involving orthopedic implants treatment? Stringent government policies
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The orthopedic devices market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the orthopedic devices market in these regions.
IMPACT OF COVID-19 ON ORTHOPEDIC DEVICES MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
The sudden outbreak of the pandemic COVID-19 and the postponement of orthopedic surgeries as only emergency medical services are provided in healthcare institutes, which created a massive impact on the orthopedic surgeries and devices industry, which will be challenging to overcome in coming years.
MARKET PLAYERS
The report covers key developments in the orthopedic devices market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from orthopedic devices market are anticipated to lucrative growth opportunities in the future with the rising demand for orthopedic devices in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the orthopedic devices market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ? DePuy Synthes? Zimmer Biomet? Stryker? Smith & Nephew? DJO Global? Arthrex, Inc.? Medtronic? CONMED Corporation? Wright Medical Group N.V? Integra LifeSciences
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.