Orthopedic equipment is a medical device used to stabilize the body posture or help to replace a missing bone or joint by treating the deformity and restoring normal function. The equipment is designed for surgical and non-surgical procedures associated with musculoskeletal trauma, sports injuries, etc. These are also used to provide support to the damaged bones.
MARKET SCOPE
The "Global Orthopedic Equipment Market Analysis to 2028" is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the orthopedic equipment market with detailed market segmentation by product, application, and geography. The report provides key statistics on the market status of the leading orthopedic equipment market players and offers key trends and opportunities in the market.MARKET SEGMENTATION
- Based on product, the global orthopedic equipment market is segmented into drill guide, guide tubes, implant holder, custom clamps, distracters and screw drivers.
- Based on application, the market is segmented into hip orthopedic devices, knee orthopedic devices, spine orthopedic devices, dental orthopedic devices, trauma orthopedic devices and other applications.
MARKET DYNAMICS
Drivers:
- Increase in incidences of orthopedic diseases such as rheumatoid arthritis.
- Growing geriatric population across the globe.
- Growing number of joint reconstruction surgeries.
- Rapid technological advancement.
- Increased R&D activities.
Restraints:
- High costs associated with orthopedic procedures.
- The stringent government approval process.
- Lack of skilled surgeons.
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 equipment 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 market during 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 equipment market in these regions.
IMPACT OF COVID-19 ON ORTHOPEDIC EQUIPMENT 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, UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. The pandemic outbreak influenced the market due to worldwide lockdown; there was a reduced number of road accidents and associated injuries. In healthcare facilities, the orthopedic procedures were also canceled and resulted in stepping down approach to restrict infection transmission. All the focus was shifted towards COVID-19 patients, which affected the orthopedic equipment market growth. Moreover, business shutdowns, lack of workforce, and trade disruptions further had a negative impact on the market. However, after the upliftment of imposed restrictive measures, the market may witness growth in the forecast period.
MARKET PLAYERS
The report covers key developments in the orthopedic equipment 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 market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from orthopedic equipment market are anticipated to have lucrative growth opportunities in the future with the rising demand for orthopedic equipment in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the orthopedic equipment 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.
- Arthrex, Inc.
- DJO Global, Inc.
- Medtronic Plc.
- CONMED Corporation
- B. Braun Melsungen AG
- Smith & Nephew Plc.
- Stryker Corporation
- Zimmer Biomet Holdings, Inc.
- DePuy Synthes
- NuVasive
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.