Current Business Affairs Global Orthopedic Devices Market 2018

Global Orthopedic Devices Market Trends, Analysis, and Forecast To
2025
Market Definition:
The global orthopedic devices market size was valued at USD 30.4 Billion in 2016 and is expected to reach USD 43.6
Billion in 2025, growing at a CAGR of over4% over the forecast period. An orthopedic implant is a medical device utilized
over a missing bone or joint to provide support to the damaged bone. Stainless steel and titanium alloys are used for the
strength of devices and a plastic coating acts as an artificial cartilage. Increasing prevalence of osteoporosis, growing
geriatric population base with developing technological advancements are expected to major drivers behind the
industry growth over the forecast period.
Increasing efficiency of devices and persistent innovation in the design of equipment, growing prevalence of diabetes
and obesity and rising trend of alcohol consumption and smoking are projected to propel the market growth over the
forecast period. Novel designs for customized implants based on individual patient’s needs, various tracking devices and
real time feedback providing smart implants with microprocessors are further expected to create niche segment for
these technologies. Furthermore, gene therapy, 3D printing, tissue engineering, robot-assisted surgical procedures and
smart implants have the efficiency to provide preventive and not curative measures which is also anticipated to boost
the development of cost-effective devices in the industry.
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Market Analysis with Latest Growth Factors:
Demand for various orthopedic implants and devices are expected to increase owing to increasing base of ageing
population suffering from various bone disorders. Since, a sizeable chunk of the population is over sixty years of age and
as per WHO, population of this age group is expected to reach 2 billion by 2050. Additionally, increasing incidence of
orthopedic surgery relatively aware consumers is also driving the growth of the global orthopedic devices market.
Furthermore, new innovation in the field of osteology is also projected to boost the market growth for the development
of cost-effective devices. Increasing incidences of sports injuries and road accidents and the growing demand for
minimally invasive surgical procedures is anticipated to positively impact the global industry revenue. However, low
affordability of expensive surgeries, steep implant costs and dearth of skilled professionals are constraining the
orthopedic market growth. Additionally, less expenditure on healthcare in developing countries and obscure
reimbursement policies will also hamper the adoption of advanced orthopedic devices over the coming years.
Major Key Players: