The global market for orthopedic is anticipated to upsurge at a CAGR of 6.23% during the forecast period of 2017 and 2024. The considered base year for the market study is 2016. The forecast period is between 2017 and 2024. Increased cases of musculoskeletal disorders and rising geriatric population are the factors responsible for the growth of the orthopedic market.
The global orthopedic market is segmented on the basis of procedure, ortho biologics and geography. The global orthopedic market by the procedure is segmented into arthroscopy, joint reconstruction, HIP, knee, shoulder reconstruction market, soft tissue replacement, spinal surgery procedure. The market by ortho biologics is further segmented into the bone graft, viscosupplementation, one-injection, three-injection, five- injection, stem cells, bone morphogenetic proteins, demineralized bone matrix, allografts and others. The global orthopaedic market is further segmented into North America, Europe, Asia-Pacific and rest of the world. Improved Implant Technologies, increasing Number of Outpatient Techniques, growing Trauma Related Injuries, Age Related Orthopedic Surgeries, increasing Demand for the Elective procedure are the major drivers driving the Orthopedics market.
Regionally, North America holds the colossal market share of 43.35% in 2016 in the global orthopedic market. The development of North America region is mainly driven by the increased demand for the outpatient techniques, growing elderly population in the North American region. US region is the key influencer of the North America orthopedic market. Increase prevalence of arthritis due to rising elderly population in the US region. In the United States, around 56% people are suffering from musculoskeletal diseases which are the highest as compared to other chronic diseases such as respiratory 29%, circulatory 32%, diabetes 14% and cancer 10%. Asia-Pacific is the fastest-growing region in the global market which is growing at a CAGR of 6.67% during forecast period. The growing prevalence of the orthopedic diseases is one of the key factors which is proliferating the growth of the Asia-Pacific orthopedic market. China held the highest market share in the Asia-Pacific market. The increasing prevalence of the orthopedic diseases in China is boosting the growth in the Asia-Pacific market. In 2015, around 193,528,291 (extrapolated) people are suffering from orthopedic diseases in China. Moreover, in China around 573021 hip replacement surgeries are performed in 2015. Thus, the growing number of orthopedic procedures in Asia-Pacific market is driving the growth in the Asia-Pacific orthopedic market.
America Corporation, Biomet Inc. (Merge With Zimmer),Depuy Inc. (Acquired By Johnson And Johnson),Exatech Inc,Globus Medical Inc, Medtronic Inc,Nuvasive Inc,Smith & Nephew Plc,Synthes Inc. (Acquired By Johnson And Johnson), AAP Implantate Ag, Arthrocare Corporation (Acquired By Smith And Nephew),Conmed Corporation,Integra Life sciences Holding Corporation, Stryker Corporation, Zimmer Biomet Inc,