Global Orthopedic Medical Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Orthopedic Medical Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Orthopedic Medical Devices market finds that the global Orthopedic Medical Devices market reached a value of USD 54913.0 million in 2022. It’s expected that the market will achieve USD 77849.17 million by 2028, exhibiting a CAGR of 5.99% during the forecast period.

Population aging

As living conditions and medical conditions improve, aging has become a global problem. Due to inadequate intake of calcium and vitamin D, and reduced daily activities, the incidence of osteoporosis is high in the elderly. Osteoporosis-related fractures and rising musculoskeletal diagnosis are driving demand for orthopedic implants in the population over 65. The number of surgeries is increasing, which has led to increased demand for orthopedic medical devices.

Increase in the level of economic development

With the rapid development of the economy and medical standards, people's disposable income has increased, resulting in global demand for high-end orthopedic medical devices to maintain a high growth rate. After years of market cultivation, patients' acceptance of orthopedic implants has continued to increase. In the future, investment and mergers and acquisitions in the field of high-end orthopedic medical devices will increase. Good market prospects and huge growth space will bring greater impetus to the development of enterprises.

Increased health awareness

With the escalation of consumption concepts, people pay more and more attention to health. With the increase of people's health awareness, the proportion of medical expenditures has gradually increased, and the payment ability of orthopedic medical devices has gradually increased, which is conducive to the increase in consumption of orthopedic medical devices.

Region Overview:

North America dominated the Orthopedic Medical Devices market in 2022, with a market share of 56.45%.

Company Overview:

Zimmer Biomet is one of the major players operating in the Orthopedic Medical Devices market, holding a share of 21.17% in 2023.

Zimmer Biomet

Zimmer Biomet Holdings, Inc. designs, develops, manufactures, and markets medical equipment. The Company offers orthopedic, dental, and spinal reconstructive implants, as well as bone cement and related surgical products. Zimmer Biomet Holdings serves patients worldwide.

Johnson & Johnson

Johnson & Johnson manufactures health care products and provides related services for the consumer, pharmaceutical, and medical devices and diagnostics markets. The Company sells products such as skin and hair care products, acetaminophen products, pharmaceuticals, diagnostic equipment, and surgical equipment in countries located around the world.

Segmentation Overview:

By type, Patient’s Joints segment accounted for the largest share of market in 2022.

Application Overview:

The market's largest segment by application is the segment Orthopedics, with a market share of 90.87% in 2022.

Key Companies in the global Orthopedic Medical Devices market covered in Chapter 3:

Medtronic
Straumann Group
Zimmer Biomet
Smith & Nephew
Arthrex
Stryker
Johnson & Johnson

In Chapter 4 and Chapter 14.2, on the basis of types, the Orthopedic Medical Devices market from 2018 to 2029 is primarily split into:

Vertebroplasty Trocar
Vertebroplasty Tool Kit
Balloon Catheter
Bone Cement
Pins
Plates
Screws
Soft Tissue Replacements

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Orthopedic Medical Devices market from 2018 to 2029 covers:

Orthopedics
Dental

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)