Orthopedic device market size to grow by USD 12.11B between 2022-27

The orthopedic device market size is set to grow by USD 12.11 billion from 2022 to 2027, progressing at a CAGR of 3.85% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. North America will account for 37% of the market growth during the forecast period. The growth of the regional market is driven by the high adoption of orthopedic devices and an increase in the number of surgical procedures. The increasing volume of spinal non-fusion procedures, fast and easier acceptance of technologically updated spinal implants, and growing investments by vendors in clinical trials are other major factors driving the growth of the orthopedic devices market in North America.

Orthopedic device market 2023-2027: Market segmentation
The orthopedic device market is segmented by application (spine, knee, hip, extremities, and others), product (orthopedic implants and support devices and orthobiologics), and geography (North America, Europe, Asia, and Rest of World (ROW)).

The market growth in the spine segment will be significant during the forecast period. The growth of the segment is driven by factors such as the rising older population, the rise in popularity of MI spinal surgeries, and the increasing number of clinical trials. Additionally, the rise in the number of spinal fusion surgeries, increase in spine care centers, advances in spine technology, and rise in demand for robotic-assisted spine surgery for better clinical outcomes will also drive the segment’s growth.

Companies mentioned

• aap Implantate AG – The company offers orthopedic devices under its brand LOQTEQ.
• Alphatec Holdings Inc. – The company offers orthopedic devices such as spineEOS and hipEOS.
• Boston Scientific Corp. – The company offers orthopedic devices through its subsidiary Aesculap Inc.
• Conmed Corp. – The company offers orthopedic devices through its subsidiary DJO Global.
• B. Braun SE
• Colfax Corp.
• CTL Amedica Corp.
• Exactech Inc.
• Johnson and Johnson
• Medacta International SA
• Medtronic Plc
• MicroPort Scientific Corp.
• Ossur hf
• Smith and Nephew plc
• Stryker Corp.
• TriMed Inc.
• Zimmer Biomet Holdings Inc.
• Arthrex Inc.
• Integra Lifesciences Holdings Corp.
• Nuvasive Inc.

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