Orthopaedic devices are intended to stabilize the body posture, treat the deformities and restore the normal skeletal function either by replacing or reinforcing the damaged part. The global orthopaedic devices market has evolved from conventional surgical procedures to the use of modern prosthetic and fixation devices. These innovations coupled with modern diagnostic techniques have significantly reduced the need of complex surgical procedures. The market is still looking more advanced, fully automated and economic orthopaedic devices. The major factors driving the market are; higher incidences of osteoarthritis, osteoporosis and musculoskeletal disorders, higher incidence of sports injuries, technological innovations, rising old age population and increased prevalence of obesity. However, the high cost of treatment and some of the long term safety concerns associated with the use of metal implants, are likely to restrict the market growth.
The global orthopaedic devices market is segmented on the basis of type, and geography. According to type, the market is segmented into, Upper Extremity Devices, Lower Extremity Devices, Spine Orthopedic Devices, Arthroscopic Devices, Orthobiologics and Braces & Support Devices. The Upper Extremity Devices market is further segmented into shoulder, elbow, radius and others. Similarly, the Lower Extremity Devices market segmented into Hip, Knee, Foot Ankle and Others. Further, Spine Orthopedic Devices market is segmented into Artificial Discs, Fixation Screws, Fixation Nail/Rod, Fixation Plates and Fixation Wires. Geographically, the market is segmented across four regions namely North America, Europe, Asia Pacific, and LAMEA.
Mergers, acquisitions, and new product launches are few strategies adopted by top key players. Recently, Wright Medical Group, Inc. and Tornier N.V. have entered into a merger agreement to strengthen their upper and lower extremity product portfolio and broaden the global reach. Similarly, Tecomet Inc. acquired Symmetry Medical, creating one of the largest contract manufacturer in the world, with 18 facilities across 5 countries. In Feb 2015, Medtronic received an expanded indication approval for VERTEX Reconstruction System, an orthopaedic spinal device. The companies profiled in this report include, Medtronic plc, Stryker Corporation, Zimmer Holdings Inc., Smith & Nephew plc, Biomet, Inc., Wright Medical Group, Inc., NuVasive, Inc., Globus Medical, Inc. and Arthrex Inc.
KEY MARKET BENEFITS
Comprehensive analysis of factors that drive and restrict the growth of the global orthopaedic devices market is provided
The market estimations are made in the report by conducting high-end analysis of the key market segments for the period of 2014-2020, which would enable the stakeholders to capitalize on prevailing market opportunities
Exhaustive analysis of the global orthopaedic devices market by type helps in understanding the types of devices that are currently used along with the variants that would gain prominence in future
SWOT analysis enables to study the internal environment of the leading companies for strategy formulation
Region-wise orthopaedic devices market conditions are comprehensively analysed in the report
Competitive intelligence highlights the business practises followed by leading market players across the geographies
KEY MARKET SEGMENT:
The global orthopaedic devices market is segmented below: