Asia Pacific Orthopedic Devices Market Size & Outlook
Asia Pacific Orthopedic Devices Market, 2018-2030 (US$M)
Global Market
Related Markets
Asia Pacific orthopedic devices market highlights
- The Asia Pacific orthopedic devices market generated a revenue of USD 10,719.1 million in 2023.
- The market is expected to grow at a CAGR of 6.7% from 2024 to 2030.
- In terms of segment, joint replacement/ orthopedic implants was the largest revenue generating product in 2023.
- Orthobiologics is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 10,719.1 million |
| Market revenue in 2030 | USD 16,853.3 million |
| Growth rate | 6.7% (CAGR from 2023 to 2030) |
| Largest segment | Joint replacement/ orthopedic implants |
| Fastest growing segment | Orthobiologics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Joint Replacement/ Orthopedic Implants, Trauma, Sports Medicine, Orthobiologics |
| Key market players worldwide | Medtronic PLC, Stryker Corp, Zimmer Biomet Holdings Inc, DePuy Synthes, Smith & Nephew PLC, Aesculap, Conmed Corp, NuVasive, Enovis Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 17.8% of the global orthopedic devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 16,853.3 million by 2030.
Asia Pacific has the largest population; the geriatric population in the region is projected to reach nearly 1.3 billion by 2050. There is increased prevalence of age-related orthopedic issues in the region due to high population density.
The healthcare infrastructure is continuously improving in the region with the support of government initiatives as well as increase in overall disposable income. The World Bank data suggests the healthcare expenditure for East Asia & Pacific to be 6.67% of the total GDP, as of 2019.
The healthcare industry is currently growing in the region, thus boosting the market. The APAC region’s potential as a medical hub has observed a lot of improvement. Manufacturing capabilities coupled with accelerated technological advancements are key drivers of growth and development of healthcare sector.
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Orthopedic Devices Market Scope
Orthopedic Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Medtronic PLC | View profile | 95,000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | www.medtronic.com |
| Stryker Corp | View profile | 52,000 | 1941 Stryker Way, Portage, MI, United States, 49002 | www.stryker.com |
| Zimmer Biomet Holdings Inc | View profile | 18,000 | 345 East Main Street, Warsaw, IN, United States, 46580 | www.zimmerbiomet.com |
| DePuy Synthes | View profile | 5001-10000 | Raynham, Massachusetts, United States, North America | depuysynthes.com |
| NuVasive | View profile | 1001-5000 | San Diego, California, United States, North America | www.nuvasive.com |
| Smith & Nephew PLC | View profile | 18,452 | Hatters Lane, Building 5, Croxley Park, Watford, Hertfordshire, United Kingdom, WD18 8YE | www.smith-nephew.com |
| Conmed Corp | View profile | 4,000 | 11311 Concept Boulevard, Largo, FL, United States, 33773 | www.conmed.com |
| Enovis Corp | View profile | 6,550 | 2711 Centerville Road, Suite 400, Wilmington, DE, United States, 19808 | www.enovis.com |
| Aesculap | View profile | 251-500 | Kelayres, Pennsylvania, United States, North America | www.aesculapusa.com |
Asia Pacific Orthopedic Devices Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Orthopedic Devices Market Outlook will help companies and investors design strategic landscapes.
Joint Replacement/ Orthopedic Implants was the largest segment with a revenue share of 41.55% in 2023.
Horizon Databook has segmented the Asia Pacific orthopedic devices market based on joint replacement/ orthopedic implants, trauma, sports medicine, orthobiologics covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific has the largest population; the geriatric population in the region is projected to reach nearly 1.3 billion by 2050. There is increased prevalence of age-related orthopedic issues in the region due to high population density.
The healthcare infrastructure is continuously improving in the region with the support of government initiatives as well as increase in overall disposable income. The World Bank data suggests the healthcare expenditure for East Asia & Pacific to be 6.67% of the total GDP, as of 2019.
The healthcare industry is currently growing in the region, thus boosting the market. The APAC region’s potential as a medical hub has observed a lot of improvement. Manufacturing capabilities coupled with accelerated technological advancements are key drivers of growth and development of healthcare sector.
- Asia Pacific Orthopedic Devices Market Product Outlook (Revenue, USD Million , 2018-2030)
- Joint Replacement/ Orthopedic Implants
- Trauma
- Sports Medicine
- Orthobiologics
- Others
- Asia Pacific Orthopedic Devices Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Hospitals
- Outpatient Facilities
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific Orthopedic Devices Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific Orthopedic Devices Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Asia Pacific Orthopedic Devices Market, 2018-2030 (US$M)
Asia Pacific orthopedic devices market statistics, by product, 2018-2030 (US$M)
