Dublin, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The "Global Orthopedic Device Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The orthopedic device market is set to experience remarkable expansion, with an estimated growth of $12.11 billion during the period 2022-2027, at a commendable CAGR of 3.85%. The market's upward trajectory is propelled by continuous advancements in orthopedic technology, a surge in the target population with orthopedic disorders, trauma, and sports injuries, as well as an increasing need for minimally invasive and robot-assisted surgical techniques.
A key driver for the robust growth of the orthopedic device market is the continuous innovation in orthopedic technology. Pioneering technologies have empowered manufacturers to create highly personalized and tailored orthopedic devices, catering to the unique requirements of individual patients. Moreover, the market is witnessing a rise in the number of new product launches, accompanied by extensive research and development activities, further boosting market growth.
Additionally, the demand for patient-specific customized implants and emerging computer-aided surgery and 3D printing of orthopedic implants is expected to contribute significantly to the market's expansion. These technological advancements offer improved treatment outcomes, better patient satisfaction, and enhanced quality of life.
The report on the global orthopedic device market provides a comprehensive analysis of the industry's size, forecast, trends, growth drivers, and challenges. It also includes a detailed vendor analysis covering approximately 25 leading companies, such as Johnson & Johnson, Medtronic Plc, Stryker Corp., and Zimmer Biomet Holdings Inc.
The market is segmented by application, product, and geography. The application segment includes spine, knee, hip, extremities, and others. The product segment comprises orthopedic implants, support devices, and orthobiologics. Geographically, the market is segmented into North America, Europe, Asia, and the rest of the world (ROW).
For companies operating in the orthopedic device market, strategic planning and innovation will be essential to stay competitive in the dynamic market landscape. A strong focus on research and development, coupled with a commitment to meeting the evolving needs of patients, will be critical for market success.
Companies Profiled:
- aap Implantate AG
- Alphatec Holdings Inc.
- B. Braun SE
- Boston Scientific Corp.
- Colfax Corp.
- Conmed Corp.
- CTL Amedica Corp.
- Exactech Inc.
- Johnson and Johnson
- Medacta International SA
- Medtronic Plc
- MicroPort Scientific Corp.
- Ossur hf
- Smith and Nephew plc
- Stryker Corp.
- TriMed Inc.
- Zimmer Biomet Holdings Inc.
- Arthrex Inc.
- Integra Lifesciences Holdings Corp.
- Nuvasive Inc.
For more information about this report visit https://www.researchandmarkets.com/r/kgh6i3
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