The Business Research Company’s Orthopedic Devices Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, October 13, 2021 /EINPresswire.com/ — According to the new market research report ‘Orthopedic Devices Orthopedic Devices Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the orthopedic devices market size is expected to grow from $42.7 billion in 2020 to $49.59 billion in 2021 at a compound annual growth rate (CAGR) of 16.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The orthopedic devices market is expected to reach $61.08 billion in 2025 at a CAGR of 5%. The rise in the geriatric population increased the demand for medical care and drove healthcare expenditure. These factors increased the demand for these products and drove the market during the historic period.
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The orthopedic devices market consists of sales of orthopedic devices and related services by entities (organizations, sole traders and partnerships) that produce orthopedic devices used in treating bone abnormalities.
Trends In The Global 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 absorbable polymers composed of polyglycolic acid and poly lactic 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 second surgery, are highly useful in fracture fixation in children; and result in less implant related infections. For instance, Stryker Corporation offers orthobiologics such as bone repair biodegradable products that are used in bone regeneration and bone healing, soft tissue regeneration and muscle connection to bone.
Global Orthopedic Devices Market Segments:
The global orthopedic devices market is further segmented:
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
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others
By Type of Expenditure: Public, Private
By Product: Instruments/Equipment, Disposables
By Geography: The global orthopedic devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American orthopedic devices market accounts for the largest share in the global orthopedic devices market.
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Orthopedic Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides orthopedic devices global market overviews, analyzes and forecasts market size and growth for the global orthopedic devices market, orthopedic devices global market share, orthopedic devices global market players, orthopedic devices global market segments and geographies, orthopedic devices global market’s leading competitors’ revenues, profiles and market shares. The orthopedic devices global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Orthopedic Devices Market Organizations Covered: Johnson & Johnson, Zimmer Biomet Holdings, Stryker Corporation, Smith & Nephew PLC, B. Braun Melsungen.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Implantable Biomaterials Global Market Report 2021 – By Material (Metallic, Ceramic, Polymers, Natural), By Application (Dental, Cardiovascular, Ophthalmology, Orthopedic), By End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), COVID-19 Growth And Change
Orthopedic Braces And Support Devices And Equipment Global Market Report 2021 – By Type (Lower Extremity Braces, Upper Extremity Braces, Back And Hip Braces, Other Braces), By End User (Hospitals, Home Healthcare, Clinics, Other End-Users), By Product (Soft & Elastic Braces And Supports, Hinged Braces And Supports, Hard & Rigid Braces And Supports), COVID-19 Impact And Recovery
Orthopedic Accessories Global Market Report 2021 – By Type (Bone Cement, Casting System, Removal System), By Application (Hip, Knee, Spine), By End User (Hospital, Orthopedic Clinic, Trauma Fixation Center), COVID-19 Impact And Recovery
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