Research Report On Orthopedic Devices Global Market – Forecast To 2021
About 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 - 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.
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These device implantation procedures require highly specialized surgeons.
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.
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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Few points from 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
3.4 REGULATORY AFFAIRS 46
3.4.1 U.S. 46
3.4.2 EUROPE 47
3.4.3 CHINA 48
3.4.4 INDIA 48
3.4.5 JAPAN 49
3.5 REIMBURSEMENT SCENARIO 49
3.6 IMPLANT MATERIALS & COATINGS 50
3.6.1 METALS 51
3.6.2 CERAMICS 52
3.6.3 BIO-GLASS 52
3.6.4 POLYMER 53
3.6.5 MEDICAL COATINGS 53
3.7 PATENT TRENDS 54
3.7.1 TECHNOLOGICAL ADVANCEMENTS 56
3.7.1.1 Minimally invasive surgery (MIS) 56
3.7.1.2 Computer navigated and robotic surgery 57
3.7.1.3 3D printing/additive manufacturing 57
3.7.1.4 Biologics and tissue engineering 58
3.7.1.5 Smart implants 59
3.7.1.6 Nanotechnology 59
3.8 UPCOMING TECHNOLOGIES 59
3.9 CUSTOM IMPLANTS 67
3.10 PORTER’S FIVE FORCE ANALYSIS 70
3.10.1 THREAT OF NEW ENTRANTS 71
3.10.2 THREAT OF SUBSTITUTES 71
3.10.3 BARGAINING POWER OF SUPPLIERS 71
3.10.4 BARGAINING POWER OF BUYERS 71
3.10.5 RIVALRY AMONG EXISTING COMPETITORS 72
3.11 MARKET SHARE ANALYSIS BY MAJOR PLAYERS 73
3.11.1 KNEE MARKET SHARE ANALYSIS 75
3.11.2 HIP MARKET SHARE ANALYSIS 77
3.11.3 SPINE MARKET SHARE ANALYSIS 79...Continued...
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on Friday March 31 2017, 9:15 AM EST.
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