The global orthopedic extremity market is expected to witness lucrative growth over the forecast period owing to the rising global geriatric population base, coupled with increasing life expectancy rate. Rise in incidence rate of sports injuries, the prevalence of obesity, and other bone-related disorders such as osteoporosis, and osteoarthritis is also expected to drive the market. The aforementioned conditions contribute to extremity injuries that need surgical treatment thus leading to market growth. Adoption of innovative and efficient equipment for different organs, such as customized implants employing various materials such as metal and ceramic is also expected to propel the growth of the market. An increase in demand for surgical procedures that offer an active lifestyle and improved comfort are expected to drive the growth of the market. On the contrary, emphasis on preventive measures such as gene therapy and tissue engineering rather than curative measures as in the case of orthopedic extremity devices are restraints of the market.
The global orthopedic extremity market is segmented on the basis of product types which include lower extremity devices, upper extremity devices, arthroscopic devices, spine orthopedic devices, orthobiologics, and braces & support devices. The upper extremity devices categorized into elbow, radius, and shoulder, held the largest share in 2014 and is also expected to witness lucrative growth over the forecast period. Increasing demand for shoulder replacement and technological improvements including the extension of implant life, improved patient outcomes, and less invasive surgeries are the major factor attributing to the dominance of the segment. The lower extremity devices segment is further classified into knee, foot, ankle, and hip based on lower extremities of the body. Under this hip based segment is expected to witness substantial growth over the forecast period. The growing incidence of bone associated disorders such as osteonecrosis, osteoporosis, osteoarthritis, and fractures are the factors responsible for the boost in the hip replacement sub-segment. Further, the spine orthopedic devices market is divided into fixation screws, artificial discs, fixation plates, fixation rod/nail, fixation plates, and fixation wires. Orthobiologic market is segregated into bone growth factors, bone cement, and bone graft substitute.
Geographically, the orthopedic extremity market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the market in 2014. The major factors that attributed to its high share include rising incidences of sports injuries, an increase in the aging population, and rising health awareness. North America is anticipated to continue its dominance in the market over the forecast period owing to the expected advancements in orthopedic devices such as screws and anatomic plates in trauma procedures and biocomposite anchors including all-suture anchors in soft tissue repairing and sports medicine procedures. The other factors such as increased surgeon specialization in orthopedics, which would spur procedure volume expansion in anatomies, may lead to the growth of the market in this region. The companies in this region focus on building out their extremities portfolio by managing versatile anatomic locations and buildup of the specialized sales force. Asia Pacific is expected to show fast growth in the market over the forecast period owing to the increasing incidences of obesity and associated bone disorders such as musculoskeletal diseases.
The prominent players in the orthopedic extremity market are Acumed, Alphatec Spine, Biomet, Integra Life Sciences, Semprus Biosciences, DePuy Synthes, Conmed, Skeletal Dynamics, and DIGIMED Ortho. Companies adopt strategies such as playing a key role between the healthcare organization, braces supports selling companies and patient. The other strategies of the competitors in the market include the advancement in the techniques of treatment such as robot-assisted total hip arthroplasty(THA) with higher precision in component orientation. These companies are also involved in novel product developments by regulatory pathway definition and are receiving positive feedback from surgeons. As procedural volumes and market penetration continue to expand, there are anticipations for market growth over the forecast period. Various mergers and acquisitions in the market are also expected to provide growth platforms for market growth over the forecast period.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.
"The quality of research they have done for us has been excellent..."
The most common concern for the governments of all Covid-19 hit nations is the excruciating need to screen for and test large numbers of patients for possible Sars-Cov-2 infection. As a result, most of them are facing major shortages in the supply for diagnostic kits to test for the virus. Diagnostics virology entities are under immense pressure to provide reliable testing kits, and there is a surge in demand for in-vitro or point-of-care testing capacities by labs across a large number of countries. The report will account for Covid19 as a key market contributor.