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(Medical-NewsWire.com, December 24, 2019 ) Market Overview
The Global Orthopaedic Devices Market was valued at USD YY million in 2018 and is forecasted to reach USD YY million by 2026, with a CAGR of YY% during the forecast period (2019-2026).
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Increasing rates of accidents per year, growing prevalence of orthopedic disorders are majorly driving the global Orthopaedic Devices Market. However, the high cost of the devices is holding back the growth of the market.
The global market is segmented based on Device Type and Fixation Type. By device type, the market is classified into Craniomaxillofacial, Foot and ankle, Joint Replacement, Spine, Trauma & Extremities, and Others. The joint replacement segment is leading the global market with a market share of around 40%, followed by the Spine and extremities segment.
By the Fixation type, the market is classified by Internal, External, Intramedullary fixation devices, and others. Complexity in using the methods in various body parts is increasing the demand for customized orthopedic devices, thereby driving the global market of this segment.
The report segments the geographies by regions, which include North America, South America, Europe, Asia Pacific, and RoW.
North America is taking the largest share of the market with over 85% contribution from the US, followed by the Asia Pacific and Europe. Growing technology, an increasing number of geriatric population, high-income levels of the people, is mandating the lead of this region in the global market.
Growing income levels of the population, modernization of healthcare infrastructure, mainly in China and India is driving the growth in the Asia Pacific region.
The scope of this report
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
The report profiles the following companies, which include Stryker Corp., Johnson & Johnson, Zimmer Biomet, Smith & Nephew, Medtronic Spinal, DJO Global, Integra Lifesciences, NuVasive Inc., Globus Medical, Wright Medical, and Vilex.
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