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(ARABNEWSWIRE.COM, April 14, 2018 ) The report on " Orthopedic Devices Market by Anatomical location (Craniomaxillofacial, Knee, Foot and Ankle, Hip, Spine, Elbow, Shoulder, and Others), by Type of Consumables (Orthopedic staples, Orthopedic suture anchors - (Resorbable suture anchors and Metallic suture anchors)), and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)", is published by Market Data Forecast. The Orthopedic Devices Market was valued to be worth $38.28 billion in 2016 and expected to grow at a CAGR of 5.12% to approach $49.14 billion by 2021.The key factors such as rising number of musculoskeletal disorders, increasing prevalence of osteoarthritis and osteoporosis disorders among individual are projected to boost the demand for the growth of the market. Other factors associated with the growth of the market such as increasing geriatric population across the globe coupled with a rise in the occurrence of diabetes and obesity, and lack of proper exercise. Increasing sports injuries and road accidents across the globe, raising the awareness regarding minimally invasive procedures are major factors fuelling the growth of the market. However, the high cost of equipment, lack of skilled expertise professionals, and strict rules and regulations on the use of devices by the government are the major factors impeding the growth of the market.
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The Orthopedic suture anchors segment is projected for the largest market share of about 75%
The Global Orthopedic Devices Market is bifurcated into types of consumables and Anatomical location. On the origin of the type of consumables, the Orthopedic Devices Market is segregated into Orthopedic suture anchors and Orthopedic staples. The Orthopedic suture anchors sub segment from the type of consumables segment is further classified as metallic suture anchors, and resorbable suture anchors. Among all segments of Orthopedic Devices Market, the Orthopedic suture anchors segment holds the largest market share of about 75%.
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Knee segment accounted for the largest share of the market in 2016
Under the classification of Anatomical location, the market is categorized as Craniomaxillofacial, Knee, Elbow, Foot, Spine, Shoulder, Hip, Ankle, and Others. The Knee sub segment from Anatomical location segment of Orthopedic Devices Market accounts the largest market share. Rising prevalence of hip injuries in the geriatric population, the hip segment is estimated to be the fastest growing segment of the market.
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North America is approximated to command the largest share of the market
Based on the region by Market Data Forecast, the Orthopedic Devices Market is segregated into Europe, and Asia-Pacific and the Middle-East and Africa regions, North America. The largest share of the global Orthopedic Devices market is accounted by North America in 2015, which is followed by Europe. On the basis of health, the U.S spends more than 20% of its GDP. Because of drug-eluting stents and increase in the usage of infusion pumps, Europe holds the second largest share of the market. Increase in the occurrence of obesity and a bone-related ailment, the Asia Pacific is expected to grow at the high CAGR within the forecast period.
The major companies dominating the Orthopedic Devices Market are Orthopaedic Implant Company, K2M, Zimmer Inc., Orthofix International, Elite Surgical, Globus Medical, Zavation, Smith & Nephew, Bonovo Orthopedics, Microport Medical, Stryker, Tyber Medical, and Biome, Lima corporate, Synthes, Medartis, Tornier, Medtronic, Ortosintese, Aesculap Implant Systems, Arthrosurface, Osteomed, DePuy, and Surgival.
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