The global orthopedic devices market comprises of companies engaged in the manufacturing, marketing of orthrobiologics, spinal surgery, joint reconstruction, arthroscopy, trauma fixation, orthopedic accessories (includes orthopedic reamers), orthopedic braces and support, craniomaxillofacial (CMF) devices, orthopedic prosthetics.
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The global orthopedic devices market has shown modest growth in the past years with a CAGR of over 3.5%. The year 2017 recorded highest ever growth in this market with a net value of $38.6 billion as per TBRC’s in-house consultants.
TBRC’s latest report shows the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the orthopedic devices market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Increase in a patient’s preference for medical tourism for the treatment of bone related diseases was one of the drivers in the market during the historic period. Primary growth factors of medical tourism include low priced treatment options, availability of a variety of treatments, improved healthcare facilities infrastructure, and attractive locations for spending time after treatment. About 1.4 million Americans were expected to travel abroad for medical care in 2016. Orthopedic surgeons focus on the treatment of musculoskeletal injuries, degenerative diseases of the spine and bones, and treatment of musculoskeletal birth defects in children.
TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.
Companies included in the report are Johnson & Johnson, Zimmer Biomet Holdings, Stryker Corporation, Smith & Nephew PLC, and B. Braun Melsungen.
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