Orthopedic Devices Market
Orthopedics deals with the diagnosis and treatment of disorders and injuries to the skeletal system and the muscles, joints, and ligaments associated with it. The market for orthopedic devices has been growing rapidly owing to certain important breakthroughs in the medical devices industry. The market for orthopedic devices comprises of the following segments- reconstructive devices, fracture repair, arthroscopy/tissue repair, spinal implants/ instrumentation, orthobiologics, and other orthopedic products. These include procedures for hip and knee replacements, shoulder and spinal implants, arthroscopy, and bone grafting. Of these, the key segments propelling sales growth and attracting investor interest in the global market include artificial joints, spinal implants, and orthobiologics. However, the joint reconstruction market continues to remain the largest orthopedic market segment.
Growth of the orthopedic devices market is due to a number of factors such as technological advancements in implant design and materials, and also hardware devices that replace or reconstruct joints and bones in the foot, hand, wrist, ankle, elbow, and shoulder. This has resulted into improved durability of implant and reconstruction materials and therefore, many of the younger patients are also undergoing surgeries. Recent biotechnological developments like biodegradable medical implants or biomaterials have provided great impetus to the reconstruction and implants markets. These biomaterials have various surgical applications including fracture-fixation plates, joint replacement, bone-defect fillers, artificial tendons and ligaments, and bone cements. Another example of such a development is orthobiologics, which are substances used by orthopedic surgeons to enable quicker healing of patient injuries. This segment is also picking up rapidly, while uniting affordable costs with the most consistent and newest technology.
A major factor responsible for the growth of the global market for orthopedic devices and products is the continuous rise in the occurrence of a range of musculoskeletal disorders that require orthopedic treatment. Even though the economic downturn has disturbed the growth rates, this market is continuing to achieve growth owing to the introduction and availability of increasingly sophisticated treatments for musculoskeletal conditions. The US and Europe dominate the global market for orthopedics, with countries like Germany, France, and UK being the major regional markets.
Suppliers that operate in niche market areas of the orthopedic devices market like implants, surgical biomaterials, etc. include aap Implantate AG, ArthoCare Corporation, Bone Solutions Inc., Ceramisys Ltd., DePuy Spine Inc., Osteotech Inc., ProChon Biotech Ltd., ThermoGenesis Corporation, Vertebron, Xylos Corporation, and Zimmer Holdings Inc., amongst others. This section on the orthopedic devices market research consists of market research reports covering market forecasts, growth prospects, opportunity analysis, recent trends, competitive analysis, deals, etc. in this sector.