Orthopedic Devices Market: Size, Growth, Regional Analysis, And Market Analysis

Orthopedic Device

The term orthopedic device refers to a piece of specialized equipment used to rectify abnormalities or preserve and restore the function of the human skeletal system, its articulations, and related components. An orthopedic device is not a hot tub or spa.


Market Growth:

The Orthopedic Devices Market was worth USD 40.6 billion in 2020, and it is expected to increase at a CAGR of more than 5% between 2021 and 2027. Internal fixation surgery, which entails the placement of implants to cure broken bones, frequently employs orthopedic devices for anchoring fractured bones.


Accidents and sports injuries are becoming more common around the world, which is propelling the market forward. The number of orthopedic surgeries is increasing, which is hastening the use of orthopedic devices. In addition, technological advancements are increasing the demand for orthopedic equipment.


Continuous technological advancements in orthopedic devices and design and efficiency breakthroughs have aided the industry's use and convenience. Patient-specific, personalised implants and 3D printed implants have been launched to the Orthopedic Devices Market due to extensive research and development in the equipment used for hip, spinal, and knee replacement. In business operations, novel automation technologies combined with robotics are being introduced, further assisting in delivering high-quality products. Furthermore, robotics in orthopedic surgery is less intrusive and provides excellent precision, allowing for shorter hospital stays and faster recovery.


The emergence of novel medications and therapies that allow patients to forego surgical procedures has hampered the orthopedic device business. For example, patients can avoid surgical procedures for medical problems like arthritis, tendonitis, and others because of developments in tissue engineering, stem-cell therapy, and other treatment options like platelet-rich plasma (PRP) injections. This has harmed demand for orthopedic devices, as an increasing number of people have turned to alternate treatment options to avoid the risks and problems of orthopedic surgeries.


Regional Analysis:

North America dominated the worldwide Orthopedic Devices Market in 2020, accounting for 44 per cent of the market. The second-largest area, Asia Pacific, accounted for 23% of the worldwide orthopedic devices market. In the global orthopedic devices market, Africa was the smallest region.


Key Players:

AAP Implantate AG, Aesculap, Inc., Arthrex, Inc., ArthroCare Corporation, Biomet, Inc., Conmed Corporation, DePuy Synthes, Inc., OSSIO, Globus Medical, Inc., NuVasive, Inc., Conventus Orthopedics, DJO Global, Inc., and the Breg, Inc are the major key players of orthopedic devices market.

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