The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest orthopedic devices market share in 2022.

The global orthopedic devices market grew from $43 billion in 2022 to $45.79 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The orthopedic devices market is expected to grow to $55.75 billion in 2027 at a CAGR of 5.0%.

Major Driver In The Orthopedic Devices Market ­– Increase In The Patient Pool Due To The Rising Geriatric Population Globally
According to the World Health Organization, the number of people aged 60 years and above was 1 billion in 2020 and the number will rise to 1.4 billion by 2030 and it will reach 2.1 billion by 2050. 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.

View More On The Orthopedic Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/orthopedic-devices-global-market-report

Key Orthopedic Devices Market Segments
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

Recent Orthopedic Devices Market Trend – Biodegradable Implants
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 Prominent Players
Major companies in the orthopedic devices market include 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.

Request A Sample Of The Global Orthopedic Devices Market Report 2023:
https://www.thebusinessresearchcompany.com/sample.aspx?id=1974&type=smp

The Orthopedic Devices Global Market Report 2023  provides a comprehensive overview on the orthopedic devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the orthopedic devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Orthopedic devices are used to stabilize the body posture by correcting deformities, restoring the function of the human skeletal system, articulations, and associated structures either by replacing or reinforcing the damaged part.

View More Related Reports –
Orthopedic Braces And Support Devices And Equipment Global Market Report 2023
Orthopedic Regenerative Surgical Products Global Market Report 2023
Orthopedic Power Tools Global Market Report 2023

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model