The rise in aging population and sports and road injuries, coupled with increasing demand for minimally-invasive surgeries has spurred the growth of the global orthopedic devices market, according to a new report published by Transparency Market Research. The report, titled “Orthopedic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, indicates that registering a 4.9% CAGR from 2013 to 2019, the worldwide market for orthopedic devices is likely to develop from US$29.2 billion in 2012 to US$41.2 billion by 2019.On the basis of anatomical location, the market for orthopedic devices is segmented into knee, hip, elbow, shoulder, spine, foot and ankle, craniomaxillofacial, and other extremities. Each of these locations are further fragmented into internal fixation devices, joint implants, and external fixation devices. By anatomical location, knees dominated the overall market in terms of revenue. However, this segment is forecast to witness a slight drop in market share by 2019 owing to frequent product recalls.
Browse Full Report: http://www.transparencymarketresearch.com/orthopedic-devices-market.html
Hip orthopedic devices also held the a major share of the overall market in 2012 and are projected to register a CAGR of 5.9% from 2013 to 2019 owing to increasing incidence of hip fractures, rise in aging population, and growing demand for hip replacement surgeries. Among the major orthopedic consumables, namely orthopedic suture anchors and orthopedic staples, anchors held the largest share of the market. This segment comprises metallic suture anchors and resorbable suture anchors and held 80% of the orthopedic consumables market in 2012. The market value of orthopedic consumables is estimated to be US$457 million by 2019.
The geographic segmentation of the global orthopedic devices market includes four main regions: North America, Europe, Asia Pacific, and Rest of the World. North America has emerged as the leader of the worldwide market and is projected to retain its dominant position through 2019. The U.S. orthopedic devices market is driven by increasing cases of obesity and osteoarthritis, growing use of bioabsorbable implants, and rise in geriatric population. Europe, the second-largest market for orthopedic devices in the world, is fueled by growing demand for drug-eluding stents and infusion pumps. Asia Pacific, however, has been identified as the fastest developing regional market for orthopedic devices, driven largely by rapid industrialization and surge in population.
The competitive landscape of the orthopedic devices market is immensely consolidated. The major players profiled in the global orthopedic devices market report are Wright Medical Technology, Inc., aap Implantate AG, Vilex, Inc., Aesculap, Inc., Integra LifeSciences, Zimmer Holdings, Inc., DePuy Synthes, Inc., Stryker Corporation, ArthroCare Corporation, Smith & Nephew PLC, Solana Surgical LLC, Conmed Corporation, Globus Medical, Inc., TriMed, Inc., Orthofix Holdings, Inc., NuVasive, Inc., Arthrex, Inc., Small Bone Innovations, Inc., Medtronic, Inc., and Biomet, Inc. The orthopedic devices market for hip and knee surgeries is dominated by Depuy Synthes, Zimmer, and Stryker, while the market for spinal surgeries is led by NuVasive, Depuy, Stryker, and Medtronic.
Browse the full 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 Press Release at http://www.transparencymarketresearch.com/pressrelease/orthopedic-devices-market.htm
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