The global orthopaedic devices market is projected to achieve a 5.3% CAGR during the forecast period from 2024 to 2031.

Orthopaedic devices are utilized for replacing missing joints or bones and providing support to damaged bones. These devices are typically made from strong materials like titanium alloys and stainless steel, with a plastic coating that serves as artificial cartilage. Internal fixation, a common orthopaedic device market procedure, involves the use of implants to repair damaged bones.

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Orthopaedic Devices Market Trends:

The growth of the global orthopaedic devices market is fueled by rising incidences of accidents and sports injuries worldwide. Increased adoption of orthopaedic procedures is further propelling market expansion, supported by advancements in technology driving demand for these devices.

The orthopaedic devices market is expected to grow due to the rising demand for large joint reconstruction surgeries.

The number of joint replacement surgeries, such as total knee and hip replacements, has steadily increased due to the growing elderly population. This demographic trend, along with rising musculoskeletal diagnoses and osteoporosis-related fractures, is driving demand for orthopaedic implants among older adults. According to a report by Arthritis Research UK titled "The State of Musculoskeletal Health 2018," approximately 17.8 million people in the United Kingdom, constituting about 28.9% of the total population, live with a musculoskeletal condition. These trends underscore the increasing prevalence of orthopaedic surgeries, potentially leading to higher demand for orthopaedic implants.

Furthermore, orthopaedic issues exhibit varying patterns and prevalence across regions, influenced by environmental, racial, and geographic factors. For example, according to WHO data from 2017, musculoskeletal conditions were particularly prevalent in the East Mediterranean and African regions. Ongoing technological advancements in orthopaedic devices, along with innovations in design and efficiency, have enhanced the usability and convenience of these devices within the industry.

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Orthopaedic Devices Market Segmentation

The joint reconstruction segment is anticipated to achieve the highest CAGR during the forecast period from 2024 to 2031.

The joint reconstruction segment is poised for significant growth, driven by factors such as the increasing elderly population, rising prevalence of osteoporosis and osteoarthritis, and higher incidences of road accidents and sports injuries. For example, as highlighted in the UN report of 2019, the global population aged 65 years and older was approximately 703 million in 2019, projected to double to 1.5 billion by 2050. This demographic shift contributes to a greater incidence of bone and joint disorders among the elderly, bolstering market expansion.

By Device Type:

  • Hip Orthopedic Devices
  • Joint Reconstruction
  • Knee Orthopedic Devices
  • By Fixation Type:
  • Internal
  • External

Intramedullary fixation devices

By End User 

  • Orthopaedic Clinics
  • Hospitals

 

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Global Orthopaedic Devices Market Geographical Share

North America region holds the largest market share of the global orthopaedic devices market

 

North America is projected to lead the market, supported by the presence of key regional players, robust distribution networks, and a well-established healthcare infrastructure. Recent developments in the North American orthopaedic devices market involve the adoption of advanced polymer materials and the customization of prosthetic devices to meet specific patient functional requirements.

Moreover, the growing incidence of accidents and amputations in the United States is anticipated to boost the orthopaedic devices market. According to data from the Insurance Institute for Highway Safety (IIHS) and Highway Loss Data Institute (HLDI), in 2017 alone, there were 34,247 motor vehicle crashes in the United States resulting in approximately 37,133 fatalities.

Orthopaedic Devices Companies and Key players

Key players are B. Braun Melsungen AG, AGIS Network Inc., Amedica Corp., Arthrex Inc., Boston Scientific Corporation, Integra LifeSciences Corporation, Johnson & Johnson, Medtronic PLC, Smith & Nephew PLC, Stryker Corporation among others.

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