Orthopedic devices are used in the treatment of fractures, soft-tissue injuries and reconstructive surgery. After fracture reduction, internal, external or intramedullary fixation devices may be used to provide stability and maintain the alignment of bone fragments during the healing process. Furthermore, orthopedic devices are designed to prevent or manage musculoskeletal problems, while orthotics support or straighten weak joints or limbs. Orthopedic medical devices have been extremely successful in restoring mobility, reducing pain and improving the quality of life for millions of individuals each year.
According to centers for disease control and prevention, nearly one in two of American adults develop knee osteoarthritis in at least one knee of their lifetime. Likewise, according to National Joint Registry, In England and Wales there are approximately 160,000 total hip and knee replacement procedures performed each year. Approximately the same number of hip and knee joints are replaced. Ankle replacement is a much less common procedure, but the practice is growing rapidly. However, owing to the rising number of people undergoing joint replacement surgeries, the market for orthopedic device is estimated to propel in near future.
ORTHOPEDIC DEVICES MARKET OUTLOOK
The orthopedics devices market is driven by key factors such as growing elderly population increases the prevalence of orthopedic disorders, increase in demand of minimally invasive surgical procedures and innovation in implant technologies driving growth. In addition, rising number of sports injuries and road accident is also the factors that is raising the growth of the orthopedic devices market globally. However, high cost of implants and lack of patient awareness are some of the factors hampering the orthopedic devices market growth.
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ORTHOPEDIC DEVICES MARKET SEGMENTAL OVERVIEW
The orthopedics devices market is segmented by device and geography
ORTHOPEDIC DEVICES MARKET BY DEVICE
Based on device, the orthopedics device market is segmented into orthobiologics, joint reconstruction, spinal devices, trauma fixation devices, arthroscopic devices, orthopedic accessories and orthopedic braces supports. Furthermore, the orthobiologics is sub segmented into bone allograft, bone graft substitutes, bone growth factors spinal stimulation stem cell therapy and viscosupplementation. Whereas, joint reconstruction is classified into ankle replacement, digits replacement, elbow replacement, hip replacement, knee replacement, shoulder replacement and wrist replacement. Moreover, spinal devices are bifurcated into spinal fusion devices and spinal non-fusion devices. Likewise, trauma fixation devices are further sub-classed into internal fixator devices and external fixator devices. Besides, arthroscopic devices are sub segmented into arthroscopes, arthroscopic hand instrument, fluid management devices, power shaver systems and radiofrequency probe. In addition, orthopedic accessories are bifurcated into bone cement, casting system and removal systems. Further, orthopedic braces supports are classified into upper extremity braces supports and low extremity braces supports.
ORTHOPEDIC DEVICES MARKET BY GEOGRAPHY
The orthopedic devices market report is studied across the key countries of North America, Europe, Asia Pacific and Rest of the World. Owing to the rising awareness of the minimally-invasive procedures for orthopedic surgeries, advancement in healthcare facilities and continuous innovation in the implant technologies, the North America region dominated the orthopedic devices market in 2018. However, Asia-Pacific is anticipated to be the fastest-growing region for the orthopedic devices market, primarily due to the rising geriatric population and increase in awareness about minimally invasive procedures.
ORTHOPEDIC DEVICES MARKET KEY PLAYERS
Some of the major players operating in the orthopedic devices market includes stryker corporation, depuy inc, zimmer holding inc, smith nephew plc, medtronic inc, djo global, integra lifesciences holding corporation, nuvasive inc, globus medical inc, wright medical, aap implantate AG and alphatec spine. Leading companies have invested massive capital in research development and mergers acquisitions activities to develop innovative products in the market.
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