#Orthopedic #Devices #Market #Projected #Register
London, Oct. 10, 2022 (GLOBE NEWSWIRE) — While global orthopedic devices market has regained its momentum post-COVID-19 setback, Fairfield Market Research projects a promising growth outlook for the market in long term. A new report of the company suggests that the orthopedic devices market will take a leap from the revenue of around US$44 Bn recorded in 2020 to nearly US$59.6 Bn by the end of 2025. Sustained high prevalence of the various orthopedic conditions, growing number of road accidents, traumatic orthopedic injuries, and sports injuries collectively drive global orthopedic devices market. Age-associated orthopedic conditions are also touted to remain among the significant factors elevating the growth prospects of orthopedic devices market, marks the report.
Research anticipates an influx of business opportunities to arise with the growing sophistication of healthcare systems, and rising emphasis on cutting-edge healthcare technological tools like autonomous surgical robots, 3D printed surgical planning models, and AR-assisted surgical tools. Moreover, an increasing diagnosis rate of complex orthopedic conditions such as osteoporosis fractures, and musculoskeletal injuries will keep the demand afloat. An ascending number of knee, and hip replacement procedures is also expected to fuel the market growth.
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Key Research Insights
- Worldwide orthopedic device sales are poised to see 6.3% growth over 2021 – 2025
- Joint reconstruction, registering over US$21.6 Bn revenue in 2020, continues to be the leading product segment
- North America remains the dominant market with over 45% share in global valuation
Insights into Segmental Analysis
In 2020, the joint reconstruction segment that covers knee, hip, and extremities led the orthopedic devices market with the lion’s share in overall revenue generation. This will remain the leading…
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