The Business Research Company’s Orthopedic Devices Global Market Report 2021 – COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, November 17, 2021 /EINPresswire.com/ — Biodegradable implants are increasingly being used in trauma orthopedic surgeries. Biodegradable implants are used to replace a missing biological structure, support a damaged biological structure, and enhance the existing bone structure. Biodegradable products such as reabosorbable polymers composed of polyglycolic acid and poly lactic acid manufactured in the form of plates, screws, and pins are replacing traditional devices like plates and screws which are more expensive. Surgeons are preferring biodegradable implants to replace conventional implants, as biodegradable implants can be engineered to provide temporary support for bone fractures; can degrade at a rate matching new tissue formation; can eliminate the need for second surgery, are highly useful in fracture fixation in children; and result in less implant related infections. For instance, Stryker Corporation offers orthrobiologics such as bone repair biodegradable products that are used in bone regeneration and bone healing, soft tissue regeneration and muscle connection to bone.
The increase in patient pool due to rising geriatric population globally, contributed significantly to the growth of the orthopedic devices market during the historic period. According to the Population Reference Bureau, the share of population over the age of 65 in the global population increased from 8% in 2015 to 9% in 2019. The global population aged 65 years or over was 703 million in 2019. This rise in the geriatric population increased the demand for medical care and drove the healthcare expenditure. For instance, in 2017, half of the Dutch healthcare budget was spent on elderly over 65. These factors increased the demand for these products and drove the orthopedic devices market during the historic period.
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The global orthopedic devices market size is expected to grow from $42.70 billion in 2020 to $49.59 billion in 2021 at a compound annual growth rate (CAGR) of 16.1%. The growth of the orthopedic devices market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The orthopedic devices market is expected to reach $61.08 billion in 2025 at a CAGR of 5%.
Major players covered in the global orthopedic devices market are Johnson & Johnson, Zimmer Biomet Holdings, Stryker Corporation, Smith & Nephew PLC, B. Braun Melsungen.
TBRC’s global orthopedic devices market report is segmented by type into joint reconstruction devices and equipment, spinal surgery devices and equipment, trauma fixation devices and equipment, orthobiologics devices and equipment, arthroscopy devices and equipment, orthopedic braces and support devices and equipment, craniomaxillofacial (CMF) devices and equipment, orthopedic prosthetics, by end user into hospitals and clinics, diagnostic laboratories, others, by type of expenditure into public, private, by product into instruments/equipment, disposables.
Orthopedic Devices Global Market Report 2021 – By Type (Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics), By End User (Hospitals And Clinics, Diagnostic Laboratories), By Type of Expenditure (Public, Private), By Product (Instruments/Equipment, Disposables), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides orthopedic devices market overview, forecast orthopedic devices market size and growth for the whole market, orthopedic devices market segments, and geographies, orthopedic devices market trends, orthopedic devices market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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Here Is A List Of Similar Reports By The Business Research Company:
Orthopedic Accessories Global Market Report 2021 – By Type (Bone Cement, Casting System, Removal System), By Application (Hip, Knee, Spine), By End User (Hospital, Orthopedic Clinic, Trauma Fixation Center), COVID-19 Impact And Recovery
Orthopedic Biomaterials Global Market Report 2021 – By Material Type (Ceramics & Bioactive Glasses, Calcium Phosphate Cements, Polymers, Metal, Composites), By Application (Orthopedic Implants, Joint Replacement/Reconstruction, Bio-Resorbable Tissue Fixation, Orthobiologics, Viscosupplementation), By End-User (Hospitals, Clinics), COVID-19 Growth And Change
Orthopedic Braces And Support Devices And Equipment Global Market Report 2021 – By Type (Lower Extremity Braces, Upper Extremity Braces, Back And Hip Braces, Other Braces), By End User (Hospitals, Home Healthcare, Clinics, Other End-Users), By Product (Soft & Elastic Braces And Supports, Hinged Braces And Supports, Hard & Rigid Braces And Supports), COVID-19 Impact And Recovery
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