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The orthopedic devices market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 5%, as per The Business Research Company’s market report!

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The Orthopedic Devices Market Size In 2022 And Forecast
The global orthopedic devices market grew from $39.17 billion in 2021 to $42.85 billion in 2022 at a compound annual growth rate (CAGR) of 9.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The orthopedic devices market is expected to grow to $52.78 billion in 2026 at a CAGR of 5.3%.

The orthopedic devices market consists of sales of orthopedic devices and related services by entities (organizations, sole traders, and partnerships) that produce orthopedic devices that treat bone abnormalities.

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Increase In The Patient Pool Due To The Rising Geriatric Population Globally Is Driving The Growth Of The Orthopedic Devices Market
According to the Population Reference Bureau, the share of the population over the age of 65 in the global population increased to 9% in 2019. The global population aged 65 years or over was 703 million in 2019. This rise in the geriatric population increased the demand for medical care and drove the healthcare expenditure. These factors increased the demand for these products and drove the market during the historic period.

Competitive Landscape And The Regional Analysis Of The Orthopedic Devices Market
Major players in the orthopedic devices market are Johnson & Johnson, Zimmer Biomet Holdings, STRYKER CORPORATION, Medtronic Inc., Smith & Nephew plc, Colfax Corporation, NuVasive, Inc., Wright Medical Group, Inc., Globus Medical Inc., and B. Braun Group.

Additionally, as per TBRC’s research – North America was the largest region in the orthopedic devices market in 2021 holding the largest market share.

The Orthopedic Devices Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the orthopedic devices market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the orthopedic devices market.

Replacing Biodegradable Implants In Trauma Orthopedic Surgeries – A Key Trend In The Orthopedic Devices Market
Biodegradable implants are increasingly being used in trauma orthopedic surgeries. Biodegradable implants are used to replace a missing biological structure, support a damaged biological structure, and enhance the existing bone structure. Biodegradable products such as reabosorbable polymers composed of polyglycolic acid and polylactic acid manufactured in the form of plates, screws, and pins are replacing traditional devices like plates and screws, which are more expensive. Surgeons are preferring biodegradable implants to replace conventional implants, as biodegradable implants can be engineered to provide temporary support for bone fractures, can degrade at a rate matching new tissue formation, can eliminate the need for the second surgery, and are highly useful in fracture fixation in children; and result in less implant-related infections.

Orthopedic Devices Market Segmentation By The Business Research Company

1) By Type: Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics

2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

3) By Type of Expenditure: Public, Private

4) By Product: Instruments/Equipment, Disposables

Here Are Some Reports Related To The Orthopedic Devices Market –

Orthopedic Braces And Support Devices And Equipment Global Market Report 2022

Orthopedic Accessories Global Market Report 2022

Joint Reconstruction Devices And Equipment Global Market Report 2022

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