How is the Orthopedic Devices Market Poised for Growth: Trends and Opportunities Through 2034
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What is the Predicted Annual Growth Rate of the Orthopedic Devices Market Over the Coming Decade?
In recent years, the market size for orthopedic devices has seen substantial growth. The market is projected to increase from $51.45 billion in 2024 to $55.08 billion in 2025, experiencing a compound annual growth rate (CAGR) of 7.1%. The accelerated growth during the previous period is due to factors like an aging population, the prevalence of osteoarthritis, an increase in orthopedic procedures, regulatory approvals and standards, an emphasis on patient results and quality of life, and heightened awareness of joint health.
The market for orthopedic devices is projected to witness robust expansion in the upcoming years, expanding to $67.05 billion in 2029 with a compound annual growth rate (CAGR) of 5.0%. This forecasted growth can be linked to an increase in value-based healthcare models, a focus on sustainability, innovative joint preservation strategies, and improved implant coatings and materials. Key trends for the forecast period encompass intelligent orthopedic devices, the use of robotics in orthopedic surgeries, personalized orthopedic bracing, the incorporation of nanotechnology in orthopedics, and the adoption of telemedicine in orthopedic care.
Which Factors Are Enhancing the Growth of the orthopedic devices Market?
An increase in arthritis cases is anticipated to drive the growth of the orthopedic device market. Arthritis, characterized by discomfort or illness in one or multiple joints due to inflammation or swelling, can be effectively managed using orthopedic devices. These devices provide relief from pain, improve mobility, and augment overall functionality in individuals suffering from arthritis. For example, statistics from the National Center for Health Statistics, a US-based government organization, stated that in 2022 the age-adjusted rate of diagnosed arthritis in adults stood at 18.9%. Women, at 21.5%, were found to be more likely to have arthritis than men who showed a prevalence of 16.1%. The figures also showed an increase in arthritis prevalence with age, affecting 3.6% in the age group 18-34 and soaring to 53.9% in people aged 75 or older. The rise in arthritis prevalence thus indicates a potential boost in the growth of the orthopedic device market.
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What Are the Major Players Making an Impact in the Orthopedic Devices Market’s Growth?
Major companies operating in the orthopedic devices market include:
• Aesculap Implant Systems LLC_x000D_
• Johnson & Johnson_x000D_
• Medtronic Inc._x000D_
• Stryker Corporation_x000D_
• B. Braun Group_x000D_
Which Upcoming Trends Are Set to Influence the Orthopedic Devices Market’s Path Forward?
Advancements in new drugs and therapies have imposed limitations on the orthopedic devices market, as they enable patients to bypass surgical procedures. Progressions in tissue engineering, stem-cell therapy, and alternative treatments like platelet-rich plasma (PRP) injections offer non-surgical options for medical issues like arthritis, tendonitis, and more. This has detrimentally affected the need for orthopedic devices, with a growing number of patients choosing these alternative treatment avenues to evade the risks and complications tied to orthopedic procedures.
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Which Key Segments of the Orthopedic Devices Market Are Poised for Growth and Innovation?
The orthopedic devices market covered in this report is segmented –
1) By Product: Instruments/Equipment, Disposables
2) 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
3) By Type of Expenditure: Public, Private
4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Instruments/Equipment: Surgical Instruments, Imaging Equipment, Rehabilitation Equipment, Bone Plates and Screws, Joint Replacement Devices, Orthopedic Fixation Devices
2) By Disposables: Surgical Drapes and Covers, Sterile Gloves, Sutures and Staples, Gauze and Dressings, Orthopedic Casting Supplies, Biologics
What Regions Are Steering Growth in the Orthopedic Devices Sector?
North America was the largest region in the global orthopedic devices market in 2024. Western Europe was the second largest region in the global orthopedic devices market. The regions covered in the orthopedic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Orthopedic Devices Market Classified and Defined in Market Analysis?
Orthopedic devices refer to medical instruments and implants designed to support or improve the function of bones, joints, and muscles. Used to treat injuries, deformities, and conditions affecting the musculoskeletal system, these devices enhance mobility and alleviate pain.
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