Global (China, EU,Japan,India) Orthopedic Devices Market 2016: Volume, Share,Growth, Analysis and Forecast to 2021

Orthopedic Devices Global Market

Orthopedic device can be defined as medical device used to replace the damaged or misplaced bone in order to improve the function of skeleton and reduce pain due to problems associated with injury/defect. The implants are basically made out of stainless steel and titanium alloys for more durability and strength whereas now novel biomaterials like ceramics, glass and polymers are used. Revolution in the field of medical science has led to the rapid development of orthopedic devices that are invented to effectively treat orthopedic injuries and diseases like osteoporosis and osteoarthritis. These device implantation procedures require highly specialized surgeons.

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Insisting innovative product designs, drift towards cost effective solutions, increase in number of outpatient procedures and adoption of advanced technologies drives the market growth whereas, high cost of implants, reimbursement issues are the major factors that restrain the market growth. The emergence of small players with highly innovative products and their designs are also creating an opportunity in the global orthopedic device market to experience a high growth rate. While the market faces major challenges due to subject of finances, geographies and technology opportunities.

The drastic advancements in the field of robotics, computer navigated surgeries, smart implants, nanotechnology, 3D printings, biologics and tissue engineering have been recognized as the future of orthopedics. Now-a-days customized implant is increasing in the market as patient demands more comfortable product fit for implantation. For instance, ConfirMIS is one the major company which develops personalized implants for knee such as iTotal G2, iDuo G2 etc.

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Zimmer Biomet, Stryker, Smith and Nephew, Medtronic, Nuvasive, Depuy Synthes, Orthosensor, Integra Lifescience, Globus Medical, B.Braun and DJO global are some of the companies that play a major role in manufacturing orthopedic devices. Depuy Synthes accounts for the major orthopedic market share followed by Zimmer Biomet and Stryker. Medtronic is one of the leading companies in the market producing which produces spine implant whereas Depuy Synthes has a major market share in hip and knee implant.

Based on geography, orthopedic devices market is divided into North America, Europe, Asia-Pacific and Rest of the world. A matured region such as North America commanded with the largest market revenue. High investments in healthcare infrastructures and demand for quality services in the market propelled the market growth in this region. However, Asia-pacific region is expected to grow at the highest CAGR during the forecast period due to increased healthcare awareness, improved economic growth and increasing government funds. Significant mergers and acquisitions, collaborations, joint ventures are some of the industry trends that are playing a major role for the market growth.

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TABLE OF CONTENTS

1    EXECUTIVE SUMMARY    18

2    INTRODUCTION    21

2.1    KEY TAKE AWAYS    21

2.2    REPORT DESCRIPTION    22

2.3    MARKETS COVERED    23

2.4    STAKEHOLDERS    25

2.5    RESEARCH METHODOLOGY    25

2.5.1    MARKET SIZE ESTIMATION    27

2.5.2    MARKET BREAKDOWN AND DATA TRIANGULATION    29

2.5.3    SECONDARY SOURCES    30

2.5.4    PRIMARY SOURCES    30

2.5.5    KEY DATA POINTS FROM SECONDARY SOURCES    31

2.5.6    KEY DATA POINTS FROM PRIMARY SOURCES    32

2.5.7    ASSUMPTIONS    33

3    MARKET ANALYSIS    34

3.1    INTRODUCTION    34

3.2    MARKET SEGMENTATION    35

3.3    FACTORS INFLUENCING MARKET    37

3.3.1    DRIVERS AND OPPORTUNITIES    38

3.3.1.1    High prevalence of osteoporosis or osteoarthritis and increase in ageing

population    38

3.3.1.2    Increasing demand for minimally invasive surgeries    38

3.3.1.3    Increasing number of outpatient procedure    39

3.3.1.4    Increase in accidents and sports injuries    39

3.3.1.5    High preference for orthopedic implants    40

3.3.1.6    Development of robotics    41

3.3.1.7    Identifying lightweight implants with new materials    41

3.3.2    RESTRAINTS AND THREATS    42

3.3.2.1    High cost of implants    42

3.3.2.2    Increasing pricing pressure from buyer and payer    43

3.3.2.3    Impact of medical device excise tax    43

3.3.2.4    Product recalls due to manufacturing errors    44

3.3.3    BURNING ISSUE    44

3.3.3.1    Lack of skilled orthopedic surgeon    44

3.3.3.2    Change in reimbursement scenario    44

3.3.4    CHALLENGES    45

3.3.4.1    High cost of sophisticated manufacturing equipment    45

3.3.5    WINNING IMPERATIVES    45

3.3.5.1    Innovation in biologics    45

Continued….

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Posted by Vivian Dsena on Thursday December 22 2016, 5:02 AM EDT. All trademarks acknowledged. Filed under Uncategorized. Comments and Trackbacks closed. Follow responses: RSS 2.0