Rising geriatric population is major driving factor of the orthopaedic devices market due to they are highly prone to bone and muscle related disorders like osteoarthritis and osteoporosis. According to WHO, by 2050, global population above 60 years have estimated to reach 2Mn, rising prevalence rate of obesity and diabetes, sedentary life style due to poor physical activity, diet styles and growing trend of consumption of alcohol and smoking, innovations osteology field, growing incidence of accidents and injuries related to sports, are expected to fuel the growth of orthopaedic devices market. Increasing cost burden of the surgeries, high cost of implants, lack of skilled professionals, low reimbursement policies are hampering the growth of the orthopaedic devices market.
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Orthopaedic devices market is segmented on basis of application, product, consumables, end users and geographical regions.
Based on application, the orthopaedic devices market is segmented
• Cranio Maxillofacial (CMF)
• Knee
• Hip
• Shoulder
• Elbow
• Spine
• Foot and ankle
• Others
Based on product, the orthopaedic devices market is segmented
• Spinal devices
• Joint reconstruction
• Ortho biologics
• Arthroscopic devices
• Trauma fixation devices
Based on the consumables, the orthopaedic devices market is segmented
• Orthopaedic staples
• Orthopaedic suture anchors
Based on the end user, the orthopaedic devices market is segmented
• Hospitals
• Orthopaedic clinics
• Medical centres
• Research centres
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The presently available pain management treatments are not capable of successfully restoring the body parts due to unavailability of efficient surgical tools which results in huge investments in R&D to introduce new and efficient devices for treatment of pain management. In 2015, According to the Rheumatoid arthritis support network, rheumatoid arthritis (RA) is affecting about 1.3Mn Americans and about 1% of total world population. Manufacturers are focused on huge investments of R&D and innovative product launches. Despite of the restraints, emerging markets in developing countries and introduction of biologics for the treatment of foot and ankle disorders are expected to offer lucrative opportunities for the manufacturers in the market.
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Some of the players in orthopaedic devices market are Medtronic (U.S.), Stryker (U.S.), Zimmer Biomet (U.S.), ConforMIS (U.S.), DJO Global (U.S.), NuVasive (U.S.), Globus Medical (U.S.), MicroPort Orthopaedics, Inc(Wright Medical Group) (U.S.) Medacta (Switzerland), Smith & Nephew ( UK) and DePuy Synthes (U.S.)
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