Orthopedic devices are implants used to restore skeletal structure and joint movement after fractures, abnormal growth of bones, soft tissue damage or other deformities. These devices can be surgically implanted or externally attached through minimally invasive procedures and hence can be classified as internal and external fixation devices. Orthopedic devices have been used successfully in restoring mobility, reducing pain and improving quality of life of millions of people across the globe. The success of orthopedic devices can be easily illustrated by the dominance of orthopedic devices. The growth of this market is driven by factors such as increased life expectancy and rise in the number of osteoporotic patients.
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Other drivers constitute increase in patients with fracture risk such as hip and spine fracture. However, high cost of devices, product recalls pose a major challenge to the growth of the market. Resorbable implants have been used for treating fractures worldwide. These implants do not need second surgery for surgical removal of the implant, instead they are absorbed in the body. Polyether ether ketone (PEEK) implants are widely used for spinal implants because of properties like mechanical strength. Various companies including Stryker, Biomet, DePuy Synthes, Arthrex other offer a range of resorbable orthopedic implants such as pins, screws, plates and others.
The orthopedic devices market has been extensively analyzed on the basis of factors such as the technology used, success rate, reimbursement coverage and geographical reach. Orthopedic devices report studies the global market for orthopedic devices from the perspective of various anatomical locations in the human body. An important factor for orthopedic devices manufacturers’ success is their capability to innovate products with newer technologies such as introduction of biodegradable products along with making the products available at low cost, to competently encourage market growth.
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The global orthopedic devices market is thus broadly segmented into hip, knee, shoulder, elbow, foot and ankle, spine, cranio-maxillofacial and other extremities. These anatomical locations are further categorized into joint implants, internal fixation devices and external fixation devices, based on the availability of the orthopedic devices products in the market. Geographically, the orthopedic devices market is analyzed for four major regions, namely North America, Europe, Asia and Rest of the World (RoW).
Each of the segments in the orthopedic devices market has been analyzed on the basis of its current and future market size for the period 2011 to 2019, in terms of revenue generation in USD million, considering 2011 and 2012 as the base years. The compounded annual growth rate (%CAGR) for each market segment of orthopedic devices have been provided for the forecast period 2013 to 2019 along with the estimations of market size. Orthopedic devices report also includes market overview section which covers beneficial qualitative information regarding introduction of orthopedic devices, technological trends and future advances, reimbursement scenario
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A competitive landscape, mapping all the market players and their respective shares in orthopedic devices market for 2012 are provided in this report. The mentioned market share analysis for the global orthopedic devices products market is only based on the currently marketed products in various countries and their respective global revenue generated by the manufacturer. The global market for orthopedic devices is highly consolidated, with a few local and regional players supplying in certain geographic locations. Some of the major orthopedic devices marker players profiled in this report are aap Implantate AG, Biomet, Inc., Exactech, Inc., Globus Medical, Inc., Integra LifeSciences Corporation, Medtronic, Inc., NuVasive, Inc., Orthofix Holdings, Inc., Stryker Corporation, Wright Medical Technology, Inc. and Zimmer Holdings, Inc. All these players in orthopedic devices market are profiled in this report via parameters such as company overview, financial overview, business strategies, product portfolio and recent developments.