Orthopedic Devices Market

Orthopedic Devices Market

Global Industry Analysis (2017 - 2020) - Growth Trends and Market Forecast (2021 - 2025)

Published Date: Jan 2021 | Format: | No. of Pages: 190

Industry: Medical Devices | Author Name: Amol

COVID-19 Only Marginally Affects Orthopedic Devices Market

High prevalence of orthopedic disease indications and ageing population, increasing obesity and active lifestyle trends in younger demographics are driving the demand for orthopedic procedures in a sustained manner. Fairfield Market Research indicates that the global orthopedics devices market is anticipated to rise at steady pace of 6.3% CAGR during the period of 2021-2025, despite being hard-hit by the COVID-19 pandemic. It is all set to reach US$59,688.8 Mn by 2025 from US$44,034.9 Mn in 2020.

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The COVID-19 outbreak has caused a severe decline in elective orthopedic interventions globally. It is estimated that over 6.3 million elective procedures stood cancelled during the 12-week peak COVID-19 period. Industry experts sense slow market recovery and see some sort of restoration to pre-COVID levels by 2022 and thereafter both of which will positively impact the global orthopedic devices market.

Orthopedic Devices Market to Benefit From High Incidence of Musculoskeletal Conditions and Better Diagnostics

Rising musculoskeletal diagnoses and high prevalence of osteoporosis fractures are boosting the number of orthopedic procedures worldwide. According to the World Health Organization estimates, about 20%–33% of people across the globe live with a painful musculoskeletal condition.

The International Osteoporosis Foundation states that there were an estimated 9 million osteoporosis fracture cases in 2000. Out of these, 1.6 million were at the hip, 1.7 million were at the forearm and 1.4 million were clinical vertebral fractures. More than half, about 51%, of these are in Europe and Americas while the remainder were noted in the Western Pacific region and Southeast Asia.

Precision and Risk-reducing Technological Advancements Fuel Patient Acceptance of Implants

Noteworthy technological advancements impacting orthopedic surgical interventions are autonomous surgical robots, 3D printed surgical planning models & instruments and augmented reality assisted surgeries. The orthopedic devices market is witnessing continuous improvements in recent years, which has clearly led to high acceptance of implants.

Zebra Medical Vision was acquired by DePuy Synthese (J&J) to develop and commercialize 3D imaging technology for orthopedic surgery in 2019. In February 2020, Globus Medical announced its first procedure using HEDRON IA implant, a 3D printed integrated ALIF spacer that leverages anchors or screws for vertebral body fixation. This technology offers smaller incisions and less exposure to potential complications during implanting procedure. Thus, technological advances are transforming orthopedic interventions as the promise of precision and risk-free procedures builds patient confidence.

Joint Reconstruction Emerges as Largest Product Category While Sports Medicine and Orthobiologics Promise High Growth

According to the report, joint reconstruction products comprised of hip, knee and extremities held a lion’s share in 2020. Hip, knee and extremities replacement procedures have been higher in number than any other orthopedic intervention in the world. Centers for Disease Control and Prevention (CDC) estimates that joint arthroplasty (TJAs) performed in the U.S. are expected to quadruple by 2030. Presently, the number stands that 1 million annually.

Sports medicine is one of the most promising product segments followed by orthobiologics. Both these categories are anticipated to outpace other orthopedic device categories in terms of growth rate by 2025. Growing sports injuries and active lifestyle trends are driving the market growth for sports medicine devices. Women participation in sports have seen significant upsurge in recent years. The International Olympic Committee statistics show that number of women athletes at the Olympic Games is approaching 50% of all participants. Thus, the overall increase in number of athletes across the globe has given the orthopedic devices market a new avenue.

Asia Pacific Grows at Highest Growth Rate with Promising Medical Tourism Industry

North America is the leading region in the global telemedicine market in 2020 due to high prevalence of orthopedic disease population and more number of sports injuries. U.S. has 32.5 million – 32.8 million cases of osteoarthritis. As per National Safety Council analysis of the U.S. Consumer Product Safety Commission NEISS data, in 2019, more than 3.3 million sports related injuries were treated in hospital emergency departments.

Asia Pacific is expected to register a highest growth among all regions during the forecast period on account of growing trauma injuries. WHO estimated that injuries were responsible for 87,583 of DALYs (Disability Adjusted Life Years) per 100,000 people in Southeast Asia in 2012; far more than the 38,903 of DALYs per 100,000 people in high-income countries.  Medical tourism growth is also causing an upsurge in orthopedic devices utilization in Asia Pacific region. Medical tourism has been enabling orthopedic procedures through affordable developed medical technology. Asian countries such as India provide health care services at a cost 20% lower than in the U.S. while in Thailand, the cost is 30% lesser.

Deep Pocket Players to Dominate Orthopedic Devices Market with Big Ticket Acquisitions

Hefty investments have been made by big tech giants in last few years to grow organically and inorganically in the global orthopedic devices market. Stryker’s acquisition of Wright Medical is one giant leap, setting a trend for others to follow. Stryker Corporation has become a market leader with US$4.7 billion Wright Medical acquisition deal.

Top 15 players capture more than 65% of the global orthopedic devices market. Few of the key players in the market are Acumed LLC (Colson Associates, Inc.), Arthrex, Inc., Aesculap, Inc. (B. Braun company), CONMED Corporation, DePuy Synthes (J&J), DJO, LLC (Colfax Corporation), Exactech, Inc., Globus Medical, Medtronic (Spine Division), NuVasive, Inc., Orthofix Medical Inc., Össur, Smith+Nephew, Stryker Corporation, Wright Medical (Stryker), and Zimmer Biomet.

1. Executive Summary
     1.1. Global Orthopedic Devices Market Outlook, 2017 - 2025 (US$ Million)
     1.2. Global Orthopedic Devices Incremental Opportunity, 2020 - 2025 (US$ Million)
     1.3. Key Industry Developments

2. Market Overview
     2.1. Market Definitions and Segmentations
     2.2. Market Dynamics
          2.2.1. Market Drivers
          2.2.2. Market Restraints
          2.2.3. Market Opportunities
     2.3. Technological Advancements
     2.4. Regulatory Scenario
     2.5. Orthopedic Diseases Prevalence
     2.6. Number of Orthopedic Procedures
     2.7. COVID-19 Impact Analysis

3. Global Orthopedic Devices Market Outlook, 2017 - 2025
     3.1. Global Orthopedic Devices Market Outlook, By Product, 2017 - 2025
          3.1.1. Key Highlights
          3.1.2. Global Orthopedic Devices Market Outlook, by Product, Value (US$ Million), 2017 - 2025 
               3.1.2.1. Joint Reconstruction
                    3.1.2.1.1. Knee
                    3.1.2.1.2. Hip
                    3.1.2.1.3. Extremities
               3.1.2.2. Spine
               3.1.2.3. Trauma
               3.1.2.4. Sports Medicine
               3.1.2.5. Orthobiologics
               3.1.2.6. Others
          3.1.3. Global Orthopedic Devices Market Share and BPS Analysis, by Product, 2020 and 2025
          3.1.4. Global Orthopedic Devices Market Attractiveness Analysis, by Product, 2020 - 2025
     3.2. Global Orthopedic Devices Market Outlook, By End User, 2017 - 2025
          3.2.1. Key Highlights
          3.2.2. Global Orthopedic Devices Market Outlook, by End User, Value (US$ Million), 2017 - 2025 
               3.2.2.1. Hospitals
               3.2.2.2. Specialty Clinics
               3.2.2.3. Ambulatory Surgical Centres
               3.2.2.4. Others
          3.2.3. Global Orthopedic Devices Market Share and BPS Analysis, by End User, 2020 and 2025
          3.2.4. Global Orthopedic Devices Market Attractiveness Analysis, by End User, 2020 - 2025
     3.3. Global Orthopedic Devices Market Outlook, By Region, 2017 - 2025
          3.3.1. Key Highlights
          3.3.2. Global Orthopedic Devices Market Outlook, by Region, Value (US$ Million), 2017 - 2025
               3.3.2.1. North America
               3.3.2.2. Europe
               3.3.2.3. Asia Pacific
               3.3.2.4. Latin America
               3.3.2.5. Middle East & Africa
          3.3.3. Global Orthopedic Devices Market Share and BPS Analysis, by Region, 2020 and 2025
          3.3.4. Global Orthopedic Devices Market Attractiveness Analysis, by Region, 2020 - 2025

4. North America Orthopedic Devices Market Outlook, 2017 - 2025
     4.1. North America Orthopedic Devices Market Outlook, By Product, 2017 - 2025
          4.1.1. Key Highlights
          4.1.2. North America Orthopedic Devices Market Outlook, by Product, Value (US$ Million), 2017 - 2025 
               4.1.2.1. Joint Reconstruction
                    4.1.2.1.1. Knee
                    4.1.2.1.2. Hip
                    4.1.2.1.3. Extremities
               4.1.2.2. Spine
               4.1.2.3. Trauma
               4.1.2.4. Sports Medicine
               4.1.2.5. Orthobiologics
               4.1.2.6. Others
          4.1.3. North America Orthopedic Devices Market Share and BPS Analysis, by Product, 2020 and 2025
          4.1.4. North America Orthopedic Devices Market Attractiveness Analysis, by Product, 2020 - 2025
     4.2. North America Orthopedic Devices Market Outlook, By End User, 2017 - 2025
          4.2.1 Key Highlights
          4.2.2 North America Orthopedic Devices Market Outlook, by End User, Value (US$ Million), 2017 - 2025 
               4.2.2.1 Hospitals
               4.2.2.2 Specialty Clinics
               4.2.2.3 Ambulatory Surgical Centres
               4.2.2.4 Others
          4.2.3 North America Orthopedic Devices Market Share and BPS Analysis, by End User, 2020 and 2025
          4.2.4 North America Orthopedic Devices Market Attractiveness Analysis, by End User, 2020 - 2025
     4.3. North America Orthopedic Devices Market Outlook, By Country, 2017 - 2025
          4.3.1. Key Highlights
          4.3.2. North America Orthopedic Devices Market Outlook, by Country, Value (US$ Million), 2017 - 2025
               4.3.2.1. United States
               4.3.2.2. Canada
          4.3.3. North America Orthopedic Devices Market Share and BPS Analysis, by Country, 2020 and 2025
          4.3.4. North America Orthopedic Devices Market Attractiveness Analysis, by Country, 2020 - 2025

5. Europe Orthopedic Devices Market Outlook, 2017 - 2025
     5.1. Europe Orthopedic Devices Market Outlook, By Product, 2017 - 2025
          5.1.1. Key Highlights
          5.1.2. Europe Orthopedic Devices Market Outlook, by Product, Value (US$ Million), 2017 - 2025 
               5.1.2.1. Joint Reconstruction
                    5.1.2.1.1. Knee
                    5.1.2.1.2. Hip
                    5.1.2.1.3. Extremities
               5.1.2.2. Spine
               5.1.2.3. Trauma
               5.1.2.4. Sports Medicine
               5.1.2.5. Orthobiologics
               5.1.2.6. Others
          5.1.3. Europe Orthopedic Devices Market Share and BPS Analysis, by Product, 2020 and 2025
          5.1.4. Europe Orthopedic Devices Market Attractiveness Analysis, by Product, 2020 - 2025
     5.2. Europe Orthopedic Devices Market Outlook, By End User, 2017 - 2025
          5.2.1 Key Highlights
          5.2.2 Europe Orthopedic Devices Market Outlook, by End User, Value (US$ Million), 2017 - 2025 
               5.2.2.1 Hospitals
               5.2.2.2 Specialty Clinics
               5.2.2.3 Ambulatory Surgical Centres
               5.2.2.4 Others
          5.2.3 Europe Orthopedic Devices Market Share and BPS Analysis, by End User, 2020 and 2025
          5.2.4 Europe Orthopedic Devices Market Attractiveness Analysis, by End User, 2020 - 2025
     5.3. Europe Orthopedic Devices Market Outlook, By Country, 2017 - 2025
          5.3.1. Key Highlights
          5.3.2. Europe Orthopedic Devices Market Outlook, by Country, Value (US$ Million), 2017 - 2025
               5.3.2.1. Germany
               5.3.2.2. France
               5.3.2.3. United Kingdom
               5.3.2.4. Italy
               5.3.2.5. Spain
               5.3.2.6. Scandinavia
               5.3.2.7. Rest of Europe
          5.3.3. Europe Orthopedic Devices Market Share and BPS Analysis, by Country, 2020 and 2025
          5.3.4. Europe Orthopedic Devices Market Attractiveness Analysis, by Country, 2020 - 2025

6. Asia Pacific Orthopedic Devices Market Outlook, 2017 - 2025
     6.1. Asia Pacific Orthopedic Devices Market Outlook, By Product, 2017 - 2025
          6.1.1. Key Highlights
          6.1.2. Asia Pacific Orthopedic Devices Market Outlook, by Product, Value (US$ Million), 2017 - 2025 
               6.1.2.1. Joint Reconstruction
                    6.1.2.1.1. Knee
                    6.1.2.1.2. Hip
                    6.1.2.1.3. Extremities
               6.1.2.2. Spine
               6.1.2.3. Trauma
               6.1.2.4. Sports Medicine
               6.1.2.5. Orthobiologics
               6.1.2.6. Others
          6.1.3. Asia Pacific Orthopedic Devices Market Share and BPS Analysis, by Product, 2020 and 2025
          6.1.4. Asia Pacific Orthopedic Devices Market Attractiveness Analysis, by Product, 2020 - 2025
     6.2. Asia Pacific Orthopedic Devices Market Outlook, By End User, 2017 - 2025
          6.2.1 Key Highlights
          6.2.2 Asia Pacific Orthopedic Devices Market Outlook, by End User, Value (US$ Million), 2017 - 2025 
               6.2.2.1 Hospitals
               6.2.2.2 Specialty Clinics
               6.2.2.3 Ambulatory Surgical Centres
               6.2.2.4 Others
          6.2.3 Asia Pacific Orthopedic Devices Market Share and BPS Analysis, by End User, 2020 and 2025
          6.2.4 Asia Pacific Orthopedic Devices Market Attractiveness Analysis, by End User, 2020 - 2025
     6.3. Asia Pacific Orthopedic Devices Market Outlook, By Country, 2017 - 2025
          6.3.1. Key Highlights
          6.3.2. Asia Pacific Orthopedic Devices Market Outlook, by Country, Value (US$ Million), 2017 - 2025
               6.3.2.1. Japan
               6.3.2.2. China
               6.3.2.3. India
               6.3.2.4. Australia & New Zealand
               6.3.2.5. South East Asia
               6.3.2.6. Rest of Asia Pacific
          6.3.3. Asia Pacific Orthopedic Devices Market Share and BPS Analysis, by Country, 2020 and 2025
          6.3.4. Asia Pacific Orthopedic Devices Market Attractiveness Analysis, by Country, 2020 - 2025

7. Latin America Orthopedic Devices Market Outlook, 2017 - 2025
     7.1. Latin America Orthopedic Devices Market Outlook, By Product, 2017 - 2025
          7.1.1. Key Highlights
          7.1.2. Latin America Orthopedic Devices Market Outlook, by Product, Value (US$ Million), 2017 - 2025 
               7.1.2.1. Joint Reconstruction
                    7.1.2.1.1. Knee
                    7.1.2.1.2. Hip
                    7.1.2.1.3. Extremities
               7.1.2.2. Spine
               7.1.2.3. Trauma
               7.1.2.4. Sports Medicine
               7.1.2.5. Orthobiologics
               7.1.2.6. Others
          7.1.3. Latin America Orthopedic Devices Market Share and BPS Analysis, by Product, 2020 and 2025
          7.1.4. Latin America Orthopedic Devices Market Attractiveness Analysis, by Product, 2020 - 2025
     7.2. Latin America Orthopedic Devices Market Outlook, By End User, 2017 - 2025
          7.2.1 Key Highlights
          7.2.2 Latin America Orthopedic Devices Market Outlook, by End User, Value (US$ Million), 2017 - 2025 
               7.2.2.1 Hospitals
               7.2.2.2 Specialty Clinics
               7.2.2.3 Ambulatory Surgical Centres
               7.2.2.4 Others
          7.2.3 Latin America Orthopedic Devices Market Share and BPS Analysis, by End User, 2020 and 2025
          7.2.4 Latin America Orthopedic Devices Market Attractiveness Analysis, by End User, 2020 - 2025
     7.3. Latin America Orthopedic Devices Market Outlook, By Country, 2017 - 2025
          7.3.1. Key Highlights
          7.3.2. Latin America Orthopedic Devices Market Outlook, by Country, Value (US$ Million), 2017 - 2025
               7.3.2.1. Brazil
               7.3.2.2. Mexico
               7.3.2.3. Rest of Latin America
          7.3.3. Latin America Orthopedic Devices Market Share and BPS Analysis, by Country, 2020 and 2025
          7.3.4. Latin America Orthopedic Devices Market Attractiveness Analysis, by Country, 2020 - 2025

8. Middle East & Africa Orthopedic Devices Market Outlook, 2017 - 2025
     8.1. Middle East & Africa Orthopedic Devices Market Outlook, By Product, 2017 - 2025
          8.1.1. Key Highlights
          8.1.2. Middle East & Africa Orthopedic Devices Market Outlook, by Product, Value (US$ Million), 2017 - 2025 
               8.1.2.1. Joint Reconstruction
                    8.1.2.1.1. Knee
                    8.1.2.1.2. Hip
                    8.1.2.1.3. Extremities
               8.1.2.2. Spine
               8.1.2.3. Trauma
               8.1.2.4. Sports Medicine
               8.1.2.5. Orthobiologics
               8.1.2.6. Others
          8.1.3. Middle East & Africa Orthopedic Devices Market Share and BPS Analysis, by Product, 2020 and 2025
          8.1.4. Middle East & Africa Orthopedic Devices Market Attractiveness Analysis, by Product, 2020 - 2025
     8.2. Middle East & Africa Orthopedic Devices Market Outlook, By End User, 2017 - 2025
          8.2.1. Key Highlights
          8.2.2. Middle East & Africa Orthopedic Devices Market Outlook, by End User, Value (US$ Million), 2017 - 2025 
               8.2.2.1 Hospitals
               8.2.2.2 Specialty Clinics
               8.2.2.3 Ambulatory Surgical Centres
               8.2.2.4 Others
          8.2.3 Middle East & Africa Orthopedic Devices Market Share and BPS Analysis, by End User, 2020 and 2025
          8.2.4 Middle East & Africa Orthopedic Devices Market Attractiveness Analysis, by End User, 2020 - 2025
     8.3. Middle East & Africa Orthopedic Devices Market Outlook, By Country, 2017 - 2025
          8.3.1. Key Highlights
          8.3.2. Middle East & Africa Orthopedic Devices Market Outlook, by Country, Value (US$ Million), 2017 - 2025
               8.3.2.1. GCC Countries
               8.3.2.2. South Africa
               8.3.2.3. Rest of Middle East & Africa
          8.3.3. Middle East & Africa Orthopedic Devices Market Share and BPS Analysis, by Country, 2020 and 2025
          8.3.4. Middle East & Africa Orthopedic Devices Market Attractiveness Analysis, by Country, 2020 - 2025

9. Competitive Landscape
     9.1. Top 15 Company Market Share Analysis, 2019
     9.2. Strategic Collaborations
     9.3. Company Profiles
          9.3.1. Acumed LLC (Colson Associates, Inc.)
               9.3.1.1. Company overview
               9.3.1.2. Financial performance
               9.3.1.3. Product Portfolio
               9.3.1.4. Recent Developments
Above details will include, but not be limited to below list of companies based on availability
          9.3.2. Arthrex, Inc.
          9.3.3. B.Braun Aesculap
          9.3.4. CONMED Corporation
          9.3.5. DePuy Synthese (J&J)
          9.3.6. DJO (Colfax Corporation)
          9.3.7. Exactech
          9.3.8. Globus Medical
          9.3.9. Integra LifeSciences
          9.3.10. Medtronic (Spine Division)
          9.3.11. Nuvasive
          9.3.12. Orthofix Medical
          9.3.13. Össur
          9.3.14. Smith+Nephew
          9.3.15. Stryker Corporation
          9.3.16. Wright Medical Group N.V. (Stryker)
          9.3.17. Zimmer Biomet

10. Appendix
     10.1. Research Methodology
     10.2. Report Assumptions

BASE YEAR

HISTORICAL DATA

FORECAST PERIOD

UNITS

 

2019

 

2017 - 2018

 

2020 - 2025 

 Value: US$ Million

 

REPORT FEATURES

DETAILS

Product Coverage

  • Joint Reconstruction
    • Knee
    • Hip
    • Extremities
  • Spine
  • Trauma
  • Sports Medicine
  • Orthobiologics
  • Others

End User Coverage

  • Hospitals
  • Specialty Clinics
  • Ambulatory Surgical Centres
  • Others

Geographical Coverage

  • North America
  • United States
  • Canada
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Scandinavia
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Australia & New Zealand
  • South East Asia
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Leading Companies

  • Acumed LLC (Colson Associates, Inc.)
  • Arthrex, Inc.
  • B.Braun Aesculap
  • CONMED Corporation
  • DePuy Synthese (J&J)
  • DJO (Colfax Corporation)
  • Exactech
  • Globus Medical
  • Integra LifeSciences
  • Medtronic (Spine Division)
  • Nuvasive
  • Orthofix Medical
  • Össur
  • Smith+Nephew
  • Stryker Corporation
  • Wright Medical Group N.V. (Stryker)
  • Zimmer Biomet

Report Highlights

  • Key Market Indicators, Market Estimates and Forecast, Market Dynamics, Orthopedic Disease Indications Epidemiology, COVID-19 Impact Analysis, Competitive Landscape, Company Profiles, Category, Region-wise Trends

FAQ's : Orthopedic Devices Market

With more than 45% share, North America is anticipated to hold the highest value share by 2025.

The global orthopedic devices market is expected to be valued at US$ 59,688.8 Mn by the end of 2025, wherein joint reconstruction holds the highest share.

Sustained orthopedic procedures volume growth; High prevalence of orthopedic disease indications; Growing traumatic injuries viz. combat, road traffic accidents, falls, violence; Innovative surgical intervention systems and products development together driving the global orthopedic devices market growth.

Highly Concentrated Market, dominated by few deep pocket players with the help of big ticket acquisitions and high R&D budget. Top 10 players capture ~67% market.

CONMED Corporation, Össur, Globus Medical, NuVasive, DJO, Medtronic, Arthrex, Smith+Nephew, Stryker, Zimmer Biomet, DePuy Synthes.
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