The global Orthopedic Devices Market size is expected to reach USD 56.84 Billion in 2030 and is expected to register a revenue CAGR of 2.8% during the forecast period, according to the latest report by Reports and Data. Revenue growth of the orthopedic diagnostic devices market is primarily driven by factors such as increasing prevalence of orthopedic disease and bone injuries, rising demand for 3D medical imaging equipment, reimbursement penalties causing increased adoption of advanced imaging equipment and increasing use of dual modality imaging and hybrid imaging.

The use of orthopaedic devices will rise as the population ages and sports injuries rise as a result of adults' and kids' greater levels of physical activity. The United States suffers from more than 3.5 million sports-related injuries each year, according to the U.S. Centers for Disease Control (CDC), which estimates that 30 million children and adults participate in sports and physical activities annually. In addition, the US Department of Health and Human Services estimates that over 8 million sports-related injuries occur annually (HHS).

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Some Key Highlights from the Report

• In December 2021, In the U.S. and Europe, Orthofix Medical Inc. introduced the OSCAR PRO Ultrasonic Arthroplasty Revision System. OSCAR PRO is an ultrasonic surgical device that facilitates in the removal of cement during complex joint revision procedures. It is intended to decrease the difficulties involved with modifying failed cemented arthroplasties.
• The accessories segment is expected to account for largest revenue share during the forecast period. Accessories covers products such as arthroscopes and other consumables. One of the most significant advancements in orthopedic surgery during the twentieth century was the invention of arthroscopy, which is a minimally invasive alternative to conventional open surgical techniques, which is now the most often used orthopedic surgical treatment. Minimally invasive techniques induce less postoperative edema and have quicker recovery times than open procedures.
• The knee segment is expected to account for largest revenue share during the forecast period. Factors such as extensive use of mobile devices and their importance in influencing client purchase decisions are driving demand for this category. The success rate of surgery has increased substantially due to technological and methodological developments. A total knee replacement is one of the most effective medical procedures. In 2019, the Agency for Healthcare Research and Quality found that there were over 754,000 knee replacement procedures performed in the U.S. 80% of patients with osteoarthritis have some form of mobility limitation, according to research. As a result of these forecasts, there has been increase in use of orthopedic devices, notably knee replacement systems.
• The surgical device segment accounted for moderately large revenue share in 2021. An orthopedic surgeon uses an ortho drill, which can be powered by air or electricity, to drill holes in patients' bones in preparation for implanting or attaching hardware such as screws, cables, plates, or prosthetics. The treatment for a fracture will require ensuring that all bone fragments are appropriately set and held in their original location.
• The market in North America accounted for largest revenue share in 2021. Presence of a strong healthcare infrastructure, industry leaders, and generous reimbursement policies, as well as high demand for innovative healthcare services, are expected to drive revenue growth of the orthopedic diagnostic devices market in the region.

Top Players in the Global Orthopedic Devices Market:

Medtronic plc, Stryker Corporation, Zimmer Biomet, Johnson Johnson Services, Inc., Smith Nephew plc, Aesculap, Inc., CONMED Corporation, DJO, LLC, NuVasive, Inc., and Integra LifeSciences.

Product Outlook (Revenue, USD Billion; 2019–2030)

• Accessories
• Surgical Devices

Application Outlook (Revenue, USD Billion; 2019–2030)

• Hip
• Knee
• Spine
• Cranio-maxillofacial (CMF)
• Dental
• Sports injuries, Extremities, and Trauma (SET)

Global Orthopedic Devices Market Report: Regional Segmentation

• North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)

Frequently Asked Questions Answered in the Report:

• What is the expected revenue growth rate of the global Orthopedic Devices market over the forecast period?
• What are the key factors driving the global market revenue growth?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
• Which regional market is expected to lead in terms of revenue share over the forecast years?
• Which are the leading manufacturers and suppliers in the global Orthopedic Devices market?

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