Orthopedic devices are an integral part of the healthcare sector and are used for repairing and fixing bones. These devices are made of stainless steel and titanium alloys for better strength. For an external fixation with an authentic appearance, the device comes with a plastic coating for a semblance to artificial cartilage. In recent times, the orthopedic devices market has witnessed a surge due to several reasons. Some of the noteworthy reasons for the growth of this market are the growing pool of the geriatric population, the increasing number of cases of osteoporosis, and the ongoing battle against obesity across the globe. All these conditions severely increase the chances of early mortality for an individual, thus making their treatment crucial.
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Orthopedic Devices Market Assures Better Quality of Life
The global orthopedic devices market has also witnessed huge success due to the radical improvement in quality of life it has offered to patients. Millions across the globe have regained normal body function, reduced pain, and mobility with the help of orthopedic devices. The glorious success of the global orthopedic devices market can be felt through its dominance across the wide expanse of the globe in regions such as Asia Pacific, North America, Europe, and Rest of the World.
North America to Dominate the Global Orthopedic Devices Market
Regionally, North America holds a monumental share in the global orthopedic devices market. This dominance is expected to continue as North America will lead the market in terms of revenue from 2013 to 2019. The orthopedic devices market in North America was worth US$11.8 billion in 2012 and is expected to witness an upward trend in the coming years. On the other hand, Asia Pacific has also been spotted as a lucrative market for the growth of the global orthopedic devices market, due to the increasing number of bone issues and obesity-related concerns.
Bioabsorbable Implants to Provide Newer Opportunities to Global Orthopedic Devices Market
Some of the leading players in the global orthopedic devices market are NuVasive, Zimmer, Depuy Synthes, Stryker, Smith & Nephew, Medtronic, Wright MedicaL, and Globus Medical. These companies have been making several types of orthopedic devices for treating complicated bone injuries.
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Broadly, orthopedic devices are used for joint implants, external fixation, and internal fixation. These devices are designed to treat various parts of the body such as knees, hips, shoulder, feet, elbows, ankles, and other injuries that might be present in several joints in the body. The global orthopedic devices market further consists of spinal orthopedic devices and craniomaxillofacial devices for making joint implants and internal fixations. Arduous efforts by major players for devising bioabsorbable implants along with minimal invasive procedures will enable the global orthopedic devices market to reap huge benefits in the coming years.