Transparency Market Research

Orthopedic Devices Market - an Overview of Growth Factors and Future Prospects 2012 - 2018

Orthopedic Devices Market (Hip, Knee, Spine, Shoulder, Elbow, Foot and Ankle, Craniomaxillofacial and Other Extremities) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

 

Albany, NY -- (ReleaseWire) -- 06/25/2014 -- The global orthopedic devices market was valued at USD 29.2 billion in 2012 and is expected to grow at a CAGR of 4.9% from 2013 to 2019, to reach an estimated value of USD 41.2 billion in 2019.

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Orthopedic devices are used to provide or restore stability by placing them within the body's skeleton. These help in correcting the problems associated with the bone and joints such as injuries or deformities. Insertion of these orthopedic devices such as joint implants, internal and external fixators involves surgical procedures which can be minimally invasive. Growing elderly population combined with the rise in risk for osteoporosis, osteoarthritis, injuries and obesity, contribute to the growth of this market particularly in emerging economies of the Middle East, and the Asian countries such as China and India.Furthermore, technological advancementssuch asbio-absorbableimplants coupled with increase in the success rate of these implants and fixators in the emerging market, will serve as an opportunity for investors to invest in.

The global market for orthopedic deviceshas been studied from the perspective of widely used various orthopedic devices and number of procedures for particular anatomical location.The report provides a detailed analysis of orthopedic devices for hip, knee, shoulder, elbow, foot and ankle, and other extremities. These are further segmented into joint implants, internal fixation devices and external fixation devices. The others extremities segment comprises the market for wrists, digits and hand. The market has also been estimated for spinal orthopedic devices which includes cervical and thoracolumbar spinal implants and the internal fixation devices. Moreover, orthopedic devices for craniomaxillofacial comprises only of internal fixation devices.

In 2012, knee orthopedic devices accounted for the largest share by revenue of the total orthopedic devices market. However, the product recalls caused dueto factors such as implant loosening, corrosion, wear, and manufacturing errors are expected to have a major impact on the overall marketrevenue. Thus, the U.S. and European markets are anticipated to see a decline in growth during the forecast period.The market for hip orthopedic productsaccounted for the second largest share in 2012. It is estimated that the global market for hip deviceswill grow at a CAGR of over 5.9% from 2013 to 2019, owing to its high incidence rate of hip fractures and demand for hip replacement procedures.

The report also provides market estimations for orthopedic consumables during the forecast period of 2013 to 2019. This market has been segmented as anchors and staples. Anchors form a major share of the total orthopedic consumables market contributing to around 80% of the market share in 2012. The overall orthopedic consumables market is expected to grow to reach a value of USD 457 million by 2019.

Geographically, North America dominatedthe global market for orthopedic devices in terms of revenue generation and is expected to maintain its position throughout the forecast period. The adoption of bio absorbable implants, growing elderly population and rise in incidences of osteoporosis, osteoarthritis, and obesity in the U.S., consequently leading to various types of fractures, is expected to contribute to the leadership of the North American market. Europe was the second largest regional market for orthopedic devicesin 2012, owing to the increased demand for drug eluting stents and infusion pumps. Asia-Pacificis expected to be the fastest growing region in the global orthopedic devices marketfrom 2013 to 2019.

The global hip and knee orthopedic devices market is dominated by major players including Depuy Synthes, Zimmer and Stryker, while the overall spinal devices market is dominated by Medtronic, Depuy, Styrker and NuVasive.

The global orthopedic devices marketis segmented as follows:

Orthopedic DevicesMarket, by Anatomical Location
Hip
Hip Joint Implants
Metal on metal
Ceramic on ceramic
Ceramic on polyethylene
Hip Internal Fixation Devices
Nails/Rods
Plates
Screws
Wires
Hip External Fixation Devices
Frames
Pins
Knee
Knee Joint Implants
Posterior stabilization design
Cruciate retaining design
Uni-compartmental knee implant
Knee Internal Fixation Devices
Pins
Plates
Screws
Wires
Knee External Fixation Devices
Frames
Clamps
Pins
Spine
Spine Joint Implants
Cervical Implants
Thoracolumbar Implants
Spine Internal Fixation Devices
Nails/Rods
Plates
Screws
Wires
Shoulder
Shoulder Joint Implants
Total joint implant
Resurfacing
Shoulder Internal Fixation Devices
Pins
Nails/Rods
Plates
Screws
Wires
Shoulder External Fixation devices
Frames
Clamps
Pins
Elbow
Elbow Joint Implants
Elbow Internal Fixation Devices
Pins
Plates
Screws
Wires
Elbow External Fixation Devices
Frames
Clamps
Pins
Foot and Ankle
Foot and Ankle Joint Implants
Foot and Ankle Internal Fixation Devices
Pins
Nail/Rods
Plates
Screws
Wires
Foot and Ankle External Fixation Devices
Frames
Clamps
Pins
Cranio-Maxillofacial (CMF)
CMF Internal Fixation Devices
Mesh
Plates
Screws
Wires
Other Extremities
Joint Implants
Internal Fixation Devices
Pins
Nails/Rods
Plates
Wires
Screws
External Fixation
Frames
Pins

Orthopedic Devices Market, by Consumables

Anchors
Suture anchors
Metallic anchors
Staples

Orthopedic Devices Market, by Geography

North America
Europe
Asia-Pacific
Rest of the World (RoW)

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