Top 5 trends prevalent in orthopedic devices market over 2018-2024
Date: 2018-06-13   Author: Dhananjay Punekar  Category: #market

Top 5 trends prevalent in orthopedic devices market over 2018-2024

The rising elderly populace susceptible to bone related ailments such as osteoarthritis & osteoporosis will drive the demand for orthopedic devices market. A massive surge in obesity & diabetes, lack of physical activity, and an unhealthy diet consumption will reportedly lead to an increase in the demand for implants and surgical procedures, fueling orthopedic devices industry size over 2017-2024.

Five trends prevalent across orthopedic devices market:

  • U.S. orthopedic devices industry size is likely to exceed USD 25 billion by 2024, owing to acceptance of innovative orthopedic solutions & enhanced healthcare amenities. Increasing research & development activities for launching new products will further impel the regional growth.
  • Joint reconstruction orthopedic devices market share will increase at a CAGR of 3% over 2017-2024. The growth can be attributed to the rising geriatric population, increase in the number of road collisions & sport injuries, and a surge in the cases of osteoporosis & osteoarthritis.
  • Trauma fixation orthopedic devices industry will hit a revenue of USD 7 billion by 2024, subject to escalating demand from developing economies & introduction of new products in comparatively mature markets.
  • Japan orthopedic devices market revenue is set to surpass USD 2 billion by 2024. The regional expansion can be credited to rise in the occurrence of spinal disorders as well as bone injuries. Introduction of new technologies & rising patient awareness may further propel the regional growth.
  • Orthobiologics orthopedic devices industry is anticipated to surpass USD 4 billion by 2024. The development can be attributed to rising product popularity among surgeons for its use as bone grafts as well as substitutes. High occurrence of musculoskeletal disorders and rapidly changing lifestyles will further drive the growth of this segment.

Medtronic plc, Zimmer Biomet, Stryker Corporation, MicroPort Scientific Corporation, and Medacta are some of the reputed firms that reportedly comprise the competitive landscape of orthopedic devices market.

About Author

Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

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