Authored By: Sarah
29 Aug 2023

 North America to Dominate Billion-Dollar Orthopedic Device Market Growth through 2023-2027

The Global Orthopedic Device Market is a billion-dollar market in making with a forecasted growth of USD 12.11 Bn in revenue between 2022 and 2027 accelerating at a CAGR of 3.85%. Determinants of the orthopedic devices market growth include continuous advancements in orthopedic technology, an increase in the target population with orthopedic disorders, trauma, and sports injuries, and lastly growing need for minimally invasive and robot-assisted techniques.

Technavio has been monitoring the Global Orthopedic Device Market and its growth trajectory of the market, traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. 

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Fastest growing topography of the Global Orthopedic Device Market

North America to Dominate the Global Orthopedic Device Market: Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period, As per the estimation, North America contributed 37% to the growth of the global orthopedic devices market owing to the high adoption of orthopedic devices and an increase in the number of surgical procedures.

  • Orthopedic devices incorporated with advanced technology in the field of product design, application upgrades, and availability of reimbursements by Medicare propel the growth of the market in the region.
  • The growing count of spinal non-fusion procedures, fast and easier followed by acceptance of technologically updated spinal implants, the rise in sports-related injuries has contributed significantly.

Technavio's report offers an up-to-date analysis of the current global market scenario, the latest trends and drivers, and the overall market environment. 

Key Companies of the Orthopedic Device Market: Some of the major companies comprise names aap Implantate AG, Alphatec Holdings Inc., B. Braun SE, Boston Scientific Corp., Colfax Corp., Conmed Corp., CTL Amedica Corp., Exactech Inc., Johnson and Johnson, Medtronic Plc, MicroPort Scientific Corp., Ossur hf, etc.

For example, Organizations like Medacta International SA operate under one segment where it offers the design, production, and distribution of innovative orthopedic products. It also offers orthopedic devices such as Integra Salto Talaris Total Ankle prosthesis, and Titan Modular Shoulder system. Our report includes qualitative and quantitative analyses of core companies with a wider understanding of the business ecosystem. Download our sample report for more insights.

Orthopedic Device Market: Key Highlights of the Report for 2023-2027

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive Orthopedic Device Market growth during the next five years
  • Precise estimation of the Orthopedic Device Market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the orthopedic device industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Orthopedic Device Market vendors
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