Global Orthopedic Consumables Market 2017-2021
About Orthopedic Consumables
Orthopedic devices are instruments and implants used in orthopedic surgeries to implant skeletal structure and restore joint movement. The need for these devices arises due to factors such as abnormal growth of bones, deformities, fractures, and soft tissue damage. Most of the devices used in orthopedic surgeries are externally attached or surgically implanted through simple, persistent procedures. These devices are known to reduce pain, improve the quality of life, and restore the mobility of individuals effectively.
Technavio’s analysts forecast the global orthopedic consumables market to grow at a CAGR of 4.19% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global orthopedic consumables market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales/volume/value of orthopedic consumables.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Orthopedic Consumables Market 2017-2021
Technavio recognizes the following companies as the key players in the global orthopedic consumables market: DePuy Synthes, Stryker, Wright Medical, and Zimmer Biomet.
Other Prominent Vendors in the market are: AMPLITUDE, Arthrex, BIOTEK, BSN medical, CONMED, DSM Biomedical, Exactech, JRI ORTHOPAEDICS, KCI, KFx Medical, Lima Corporate, Parcus Medical, Prime Medical, Promedics Orthopaedic, Medtronic, MedShape, 3M, ORTHOTECH, Yancheng Senolo Medical Technology, and ZipLine Medical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing popularity of MI procedures. Traditional open surgeries can cause post-operative complications such as pain, partially-collapsed lungs, blood clots, fatigue, muscle atrophy, and infections. The anesthesia administered before surgeries can cause nausea, sore throat, confusion, and sleepiness. To reduce such complications, medical facilities have started implementing MI techniques in their surgical procedures. These surgeries are associated with reduced cost and hospital stay, lower risks of post-operation infections, rapid results, and a faster recovery period.”
According to the report, one of the major drivers for this market is M&A. Vendors undergo M&A to extend their product offerings, increase their market shares, and expand their operations. To offer innovative solutions, they acquire companies that will enhance their R&D capabilities, leading to the development of products that meet consumer needs. The acquisition of companies also allows vendors to gain access to the product portfolio of the acquired company. M&A serves as a business strategy, allowing market entry for new players.
Further, the report states that one of the major factors hindering the growth of this market is high cost of orthopedic procedures. Hospitals and surgical centers are under constant pressure to deliver quality care at low cost. However, this has become difficult due to the implementation of advanced procedures that involve the use of sophisticated devices. Hospitals and ASCs need to consider various procurement processes and budget allocation considerations before purchasing such devices. To increase their budget, hospitals sometimes increase the procedure cost. This can increase the cost burden on individuals, which hinders the adoption of such procedures. High cost of orthopedic procedures has impacted the sales of orthopedic consumable products.
DePuy Synthes, Stryker, Wright Medical, Zimmer Biomet, AMPLITUDE, Arthrex, BIOTEK, BSN medical, CONMED, DSM Biomedical, Exactech, JRI ORTHOPAEDICS, KCI, KFx Medical, Lima Corporate, Parcus Medical, Prime Medical, Promedics Orthopaedic, Medtronic, MedShape, 3M, ORTHOTECH, Yancheng Senolo Medical Technology, and ZipLine Medical.
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