Pune, India, Oct. 20, 2021 (GLOBE NEWSWIRE) --
global orthopedic devices market size is poised to show tremendous growth during the forecast period as the percentage of the elderly population is growing at a steady rate. According to the United Nations Population Fund Agency, one in four people in Asia Pacific will cross the age of 60 by 2050.
Many technological innovations are being introduced in orthopedic devices to enhance their efficiency and performance while offering added comfort to patients. The trend of custom-made devices to suit the patient’s medical condition is picking up pace in regions like Europe. The important trends that will strengthen the market potential are discussed below:
Joint reconstruction devices gain momentum in Asia Pacific:
Asia Pacific orthopedic devices market forecast will be valued at $13.4 billion by 2027. Joint reconstruction devices held a share of more than 42% of the regional market in 2020. These devices have a longer lifespan as compared to other implants used in orthopedic procedures. Moreover, the regional population is becoming more aware of the health complications relating to orthopedic ailments and is being proactive in its approach to stay fit.
Joint reconstruction devices are undergoing constant technological advancements to offer a wide range of designs to patients and greatly improve their efficiency and performance. Companies in APAC region are conducting extensive research and development activities for suitable implants for ankles, knees, hips, and shoulders. It has resulted in the creation of high-quality joint reconstruction devices that provide customizations and give added comfort.
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Japan orthopedic devices market share expands:
Japan is anticipated to hold a share of around $2.5 billion of APAC market by 2027. The country is known to have a large presence of some of the oldest living people in the world. Due to the lower death rate, this part of the population is steadily growing every year. This factor has increased the risk of people falling prey to orthopedic ailments.
Japan is seeing a surge in the number of traumatic fractures and joint injury cases, thereby augmenting the production of orthopedic devices in the country. Different surgical procedures use these devices only in complicated cases, such as the knee, shoulder, and hip arthritis. Since the country has a stronghold over its technologies, the scope of creating smart orthopedic devices will increase to a great extent.
Technological advancements in orthopedic devices in North America:
North America orthopedic devices market size is projected to be more than $29.2 billion in value by 2027. Orthopedic procedures in the region are witnessing a success rate due to the technological developments in the devices.
According to the American Academy of Orthopedic Surgeons, more than 900,000 people undergo knee replacement surgeries in the U.S. every year. A major reason behind this is the demand for painless surgeries and high-end surgical devices to perform these complicated procedures.
Companies in North America are constantly working on a wide range of innovations to increase the lifespan and quality of the implants so that they can be used for over 20-25 years. For example, the orthopedic implants made by organizations such as Zimmer Biomet, Medtronic, and DePuy Synthes could be effective in reducing post-surgery complications.
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U.S. market size grows significantly:
U.S. orthopedic devices market share was valued at over $19.6 billion in 2020. The number of joint reconstruction surgeries is rising in the country. According to the National Center for Health Statistics, more than 5.2 million musculoskeletal surgeries are carried out in the U.S. every year.
In addition to this, drastic changes in lifestyle have given way to rising cases of obesity. Obesity is one of the main causes of both the onset and progression of osteoarthritis. According to the Centers for Disease Control and Prevention (CDC), nearly 42.4% of the U.S. population was suffering from obesity from 2017 to 2018.
More than 15% of the country’s population is diagnosed with osteoarthritis, a by-product of obesity. The above-mentioned factors and figures have led to the increased production of advanced orthopedic devices to offer care and comfort to patients.
Spinal devices gain momentum in North America:
Spinal devices held more than 19% share of North America orthopedic devices market in 2020. These devices have many benefits, such as correcting deformities, creating a smoother fusion between two vertebrae, and enhancing spine stability. The number of degenerative disc cases is increasing in the region due to a sizable elderly population.
The National Center for Biotechnology Information (NCBI) estimated around 2.4 million people in the U.S. to be diagnosed with symptomatic lumbar spinal stenosis by the end of 2021. Spinal devices are one of the most preferred products to treat vertebral misalignments and degenerative disc changes.
Consistent use of trauma fixation devices in Europe:
Europe orthopedic devices market size will be valued at $10.9 billion by 2027. The regional market share from trauma fixation devices is predicted to expand at 3.8% CAGR through 2027. These devices are mainly used to fix and stabilize bone dislocations and severe fractures. These injuries are a result of a growing number of road accidents, leading to innovations in trauma fixation devices, such as drug-releasing, nano-coated, and bioresorbable implants.
Access sample pages of the report, “Europe Orthopedic Devices Market Forecasts 2027” in detail along with the table of contents (ToC) @
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UK market trends will thrive:
U.K. market size is projected to record a steady CAGR of 4.1% through 2027. The region is witnessing a rise in its elderly population, due to which cases of orthopedic diseases are growing. It is also seeing an increase in medical tourism.
As per a report by the U.K. Office for National Statistics, it is being estimated that at least one in four people will reach the age of 65 years and above by 2050, suggesting an increase from one in five people in 2019. These aspects will increase the need to have orthopedic surgeries, thereby expanding the sale of orthopedic devices in the country.
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