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Global Orthopedics Devices Market

Global Orthopedics Devices Market - Analysis and Forecast(2017-2023) (Focus on China Market, Market Share Analysis, Competitive Landscape, Material, Product, Country Analysis, and End User)

The global Orthopedics devices market is expected to reach $61 billion by 2023. A growing geriatric population and increasing demand for non-invasive treatments are boosting the market growth.

SKU: BH026A
Published Year: 2017
 
 

Orthopedic devices include joint replacement devices, spinal devices, orthobiologics, arthroscopic devices, trauma fixation devices, orthopedic accessories, as well as orthopedic braces and support systems that are used for the treatment of various disorders related to joints, ligaments, muscles, nerves and tendons as well as other musculoskeletal diseases or injuries. Orthopedic devices are also used to support or replace the missing bone or joint and helps in restoring the body function by replacing or reinforcing the damaged structure. Several factors are driving the growth of market, such as growing geriatric population, increasing prevalence of osteoporosis, arthritis and other orthopedic disorders, rising number of sports injuries and road accidents, increase in demand of minimally invasive surgical procedures and recent advancements in medical technology.

The orthopedic devices market is rapidly growing since hospitals, specialty clinics and other end users are extensively adopting various devices, implants and surgeries for better treatment, cure and outcome of different orthopedic disorders. Development of cost effective innovative products, advent of outpatient orthopedic procedures, emergence of personalized medicines and robotics technology are providing an excellent opportunity for the growth of orthopedics device market.

The research study comprises of a comprehensive analysis of various aspects of the global orthopedics device market. The segmentation has been done in terms of product type, material type, end users type and geographical regions, in order to gain a holistic view of the entire market. In terms of product, the orthopedic device market has been categorized into orthobiologics, spinal devices, joint reconstruction, trauma fixation devices, arthroscopic devices, orthopedic accessories and orthopedic braces and support system, among others. The joint reconstruction and replacement devices as well as knee orthopedics device segments have the highest adoption rate which can efficiently facilitate effective decision making and management of orthopedic disorders in patients. The hospitals, specialty clinics and general practitioners and physicians, as well as research and institutions are the major end users of orthopedic devices due to expansion in patient flow in these facilities. 

In terms of geography, North America and Europe leads the global market. The market growth in these regions are driven due to factors such as rising prevalence of obesity, osteoarthritis, arthritis and other musculoskeletal disorders, increasing geriatric population,  higher value per device and recent advancement in medical technology. Furthermore, Asia Pacific and Latin America are also evolving at a faster rate which can be attributed to the rising geriatric population, prevalence of orthopedic disorders, growing technological advancements and increase in awareness about minimally invasive procedures.

The report presents with an opportunity to examine comprehensive insights with respect to the market and helps forming well informed strategic decisions. The research uncovers certain substantial parameters that must be taken into consideration before entering into the global orthopedic devices market. These include market drivers and restraints, market share analysis, competitive landscape, and key developments etc. 

The answers to the following key questions can be derived from this report:
•    What are the major market drivers, challenges and opportunities in the global orthopedic devices market and their case studies?
•    How did the orthopedic devices market evolve and what is its scope in the future?
•    What is the market share of the leading segments and sub-segments of the global orthopedic devices market in 2016 and 2023?
•    How will each segment of the global orthopedic devices market grow over during the forecast period and the revenue generated by each of the segments by the end of 2023?
•    Who are the leading players in the global orthopedic devices market and their respective market share?
•    What are the influencing factors that may affect the market share of the key players?
•    How will the industry evolve during the forecast period between 2017 and 2023?
•    What are the key developmental strategies implemented by the key players to stand out in this market?
•    Which is the geographical location contributing to the highest sales of global orthopedic devices?
•    What are the recent technological trends in global orthopedic devices market?

This research report aims at answering various aspects of the global orthopedic devices market with the help of key factors driving the market, threats that can possibly inhibit the overall market growth, and the current growth opportunities that is going to shape the future trajectory of the market expansion. The study considers the growth share matrix model for a comprehensive study of the global orthopedic devices market and assesses the factors governing the same. 

The key players operating in this space comprises of Zimmer Biomet Holdings Inc, Globus Medical Inc, Smith & Nephew plc, Stryker Corporation, RTI Surgical Inc, Wright Medical Group N.V., Johnson & Johnson, Medtronic Public Limited Company, Arthrex Inc, and AlloSource, among other significant players worldwide.

TABLE OF CONTENT
Executive Summary
1 Report Scope and Methodology
1.1 Scope of the Report
1.2 Global Orthopedic Devices Market Segmentation 
1.3 Key Learnings 
1.4 Research Methodology
1.4.1 Key Data Points From Secondary Sources 
1.4.2 Key Data Points From Primary Sources 
1.4.3 Top-Down Approach (Segmental Analysis)
1.4.4 Bottom-Up Approach (Segmental Analysis)
1.4.5 Assumption and Limitations 
1.4.6 Data and Prediction Modelling 
2 Market Overview
2.1 Introduction
2.2 Key Trends 
2.3 Mergers and Acquisitions in Orthopedics
2.4 Regulatory Environment
 3 Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
3.3 Market Opportunities
4 Major Demand Determinants Scope & Procedure Volume
5 Competitive Insights
5.1 Key Strategies and Development
5.1.1 Recent Mergers and Acquisitions
5.1.2 Recent Product Launches and Approvals
5.1.3 Recent Partnerships, Collaborations and Business Expansion
5.1.4 Recent Regulatory Clearance, Approvals and Certifications
5.1.5 Others
6 Industry Analysis
6.1 Patent Landscape Analysis
7 Global Orthopedics Devices Market by Product
7.1 Introduction
7.2 Orthobiologics
7.3 Joint Reconstruction
7.4 Spinal Devices
7.5 Trauma Fixation Devices
7.6 Arthroscopic Devices
7.7 Orthopedics Braces & Support Systems
7.8 China Orthopedics Devices Market by Product
7.8.1 Introduction
7.8.2 China Orthobiologics
7.8.3 China Joint Reconstruction
7.8.4 China Spinal Devices
7.8.5 China Trauma Fixation Devices
7.8.6 China Arthroscopic Devices
7.8.7 China Orthopedics Accessories
7.8.8 China Orthopedics Braces & Support Systems
8 Global Orthopedics Devices Market by Material
8.1 Introduction
9 Global Orthopedics Devices Market by End-User
9.1 Introduction
10 Global Orthopedics Devices Market by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific (APAC)
10.5 Latin America
10.6 Rest of the World (RoW)
11 Global Orthopedics Devices Competitive Landscape
11.1 Market Share Analysis
11.2 Brand Matrix
12 Company Profiles
12.1 AlloSource
12.1.1 Overview
12.1.2 Product Portfolio
12.1.3 Corporate Summary
12.1.4 SWOT Analysis
12.2 Orthofix Holdings Inc
12.2.1 Overview
12.2.2 Product Portfolio
12.2.3 Financials
12.2.3.1 Financial Summary
12.2.4 SWOT Analysis
12.3 Kinetic Medical
12.3.1 Overview
12.3.2 Product Portfolio
12.3.3 Corporate Summary
12.3.4 SWOT Analysis
12.4 RTI Surgical Inc
12.4.1 Overview
12.4.2 Product Portfolio
12.4.3 Financials
12.4.3.1 Financial Summary
12.4.4 SWOT Analysis
12.5 Zimmer Biomet Holdings Inc
12.5.1 Overview
12.5.2 Product Portfolio
12.5.3 Financials
12.5.3.1 Financial Summary
12.5.4 SWOT Analysis
12.6 Medtronic Public Limited Company
12.6.1 Overview 
12.6.2 Product Portfolio
12.6.3 Financials
12.6.3.1 Financial Summary
12.6.4 SWOT Analysis
12.7 Globus Medical Inc
12.7.1 Overview 
12.7.2 Product Portfolio
12.7.3 Financials
12.7.3.1 Financial Summary
12.7.4 SWOT Analysis
12.8 STRYKER CORPORATION
12.8.1 Overview 
12.8.2 Product Portfolio
12.8.3 Financials
12.8.3.1 Financial Summary
12.8.4 SWOT Analysis
12.9 Wright Medical Group N.V.
12.9.1 Overview 
12.9.2 Product Portfolio
12.9.3 Financials
12.9.3.1 Financial Summary
12.9.4 SWOT Analysis
12.10 Smith & Nephew plc
12.10.1 Overview
12.10.2 Product Portfolio
12.10.3 Financials
12.10.3.1 Financial Summary
12.10.4 SWOT Analysis
12.11 Johnson & Johnson
12.11.1 Overview 
12.11.2 Product Portfolio 
12.11.3 Financials
12.11.3.1 Financial Summary
12.11.4 SWOT Analysis
12.12 Arthrex Inc
12.12.1 Overview
12.12.2 Product Portfolio
12.12.3 Corporate Summary
12.12.4 SWOT Analysis
12.13 LifeNet Health Inc
12.13.1 Overview 
12.13.2 Product Mapping 
12.13.3 Corporate Summary 
12.13.4 SWOT Analysis
12.14 NuVasive Inc
12.14.1 Overview
12.14.2 Product Portfolio
12.14.3 Financials
12.14.3.1 Financial Summary 
12.14.4 SWOT Analysis
12.15 Integra LifeSciences Corporation
12.15.1 Overview 
12.15.2 Product Portfolio 
12.15.3 Financials
12.15.3.1 Financial Summary 
12.15.4 SWOT Analysis
12.16 United Orthopedics Corporation
12.16.1 Overview
12.17 Weigao group
12.17.1 Overview
List of Tables
1  Global Geriatric Population
2  Key Merger and Acquisitions in the Orthopedic Devices Market
3  Healthcare Comparison 
4  Hip Replacement Statistics 
5  Knee Replacement Statistics
6  Recent Mergers and Acquisitions
7  Recent Product Launches and Approvals
8  Recent Partnerships, Collaborations and Business Expansion
9  Recent Regulatory Clearance and Approvals
10  Others
11  Patents 
12  Global Orthopedic Devices Market, 2015-2023 ($Million)
13  Global Orthobiologics Market 2015-2023 ($Million)
14  Global Joint Reconstruction Market, 2015-2023 ($Million)
15  Global Joint Reconstruction Market, 2015-2023 ($Million)
16  Global Joint Reconstruction Market, 2015-2023 ($Million)
17  Global Trauma Fixation Market, 2015-2023 ($Million)
18  China Orthopedic Devices Market ($Million)
19  China Orthobiologics Market
20  China Joint Reconstruction Market ($Million)
21  China Spinal Devices Market ($Million)
22  China Trauma Fixation Market, 2015-2023 ($Million)
23  China Arthroscopic Devices Market, 2015-2023 ($Million)
24  China Orthopedic Accessories Market, 2015-2023 ($Million)
25  China Orthopedic Braces & Support Systems Market, 2015-2023 ($Million)
26  Global Orthopedic Devices Market by Material, 2016 -2023 (Raw Material Revenue)
27  Global Orthopedic Devices Market by Material, 2016 -2023 (Product Revenue)
28  China Orthopedic Devices Market  by End-User ($Million)
29  Global Orthopedic Devices Market by Region ($Million)
30  The U.S. Orthopedic Devices Market ($Million)
31  Canada Orthopedic Devices Market ($Million)
32  Europe Orthopedic Devices Market by Country ($Million)
33  Europe Orthopedic Devices Market by Product ($Million)
34  The U.K. Orthopedic Devices Market ($Million)
35  Germany Orthopedic Devices Market ($Million)
36  Germany Orthopedic Devices Market ($Million)
37  Italy Orthopedic Devices Market ($Million)
38  Asia Pacific Orthopedic Devices Market by Country ($Million)
39  Asia Pacific Orthopedic Devices Market by Product ($Million)
40  Japan Orthopedic Devices Market ($Million)
41  China Orthopedic Devices Market ($Million)
42  South Korea Orthopedic Devices Market ($Million)
43  Latin America Orthopedic Devices Market by Country ($Million)
44  Brazil Orthopedic Devices Market ($Million)
45  Mexico Orthopedic Devices Market ($Million)
46  RoW Orthopedic Devices Market by Country ($Million)
47  RoW Orthopedic Devices Market by Product ($Million)
48  Knee Replacement Brand Matrix, 2015 (The U.K.)
49  Hip Replacement Brand Matrix, 2015 (The U.K.)
50  AlloSource Overview
51  Orthofix Holdings Inc Overview
52  Kinetic Medical Overview
53  RTI Surgical Inc Overview
54  Zimmer Biomet Holdings Inc Overview 
55  Medtronic Public Limited Company Overview 
56  Globus Medical Inc Overview
57  STRYKER CORPORATION Overview
58  Wright Medical Group N.V. Overview
59  Smith & Nephew plc Overview
60  Johnson & Johnson Overview
61  Arthrex Inc Overview
62  LifeNet Health Inc Overview
63  NuVasive Inc Overview
64  Integra LifeSciences Corporation Overview
65  United Orthopedic Corporation Overview
66  Weigao group Overview
List of Figures
1  Global Orthopaedic Devices Market, 2016 (%Share)
2  Global Orthopedic Devices Market, 2023 (%Share)
3  Global Orthopedic Devices Market by Region 2106, ($Million)
4  Global Orthopedic Devices Market by Region 2023, ($Million)
5  Top Orthopedic Devices Market 
6  Global Orthopedic Devices Market Demand, 2016
7  Global Joint Reconstruction Market, 2016 
8  Global Spinal Devices Market, 2016-2023 ($Million)
9  Global Orthobiologics Market, 2016 (% Share)
10  China Medical Devices Market ($Billion)
11  China Medical Devices Market ($Billion)
12  China Orthopedic and Other Medical Devices Market Growth Rate 
13  China Orthopedic Devices Market ($Million), 2016-2023
14  China Orthopedic Devices Growth (2017-2023)
15  Market Share: Local Vs International, 2016 
16  Market Revenue of Major Chinese Orthopedic Companies, 2015 ($Million)
17  MNCs Penetration In China Orthopedic Market ($Million)
18  Local Companies Penetration In China Orthopedic Market ($Million)
19  Global Orthopedic Devices Market by Product, 2016 (%)
20  Global Orthopedic Devices Market by Region, 2016 ($Million)
21  Global Orthopedic Devices Market by Product, 2016 ($Million)
22  Global Orthopedic Procedure Volume in Million
23  China Healthcare System
24  China Medical Devices Market ($Billion)
25  China Orthopedic Devices Market by Product ($Million), 2016-2023
26  China Orthopedic Devices Major Import Destination
27  Key Regulatory Bodies
28  Market Dynamics Subsections Infographic Representation
29  Market Dynamics
30  Market Dynamics
31  Key Market Strategies and Development
32  Key Strategies and Development Share
33  Global Orthopedic Devices Market by Product, 2016 -2023
34  Global Orthopedic Devices Growth Rate (2017-2023)
35  Global Orthopedic Devices Market Share by Product 2016
36  Global Orthobiologics Market Share by Product 2016
37  Global Bone Allograft Market, 2015-2023 ($Million)
38  Global Bone Graft Substitutes Market, 2015-2023 ($Million)
39  Global Bone Growth Factors & Spinal Stimulation Market, 2015-2023 ($Million)
40  Global DBM Market, 2015-2023 ($Million)
41  Global Other Orthobiologics Market, 2015-2023 ($Million)
42  Global Joint Reconstruction Market Share, 2016
43  Global Ankle Replacement Market, 2015-2023 ($Million)
44  Global Digits Replacement Market, 2015-2023 ($Million)
45  Global Elbow Replacement Market, 2015-2023 ($Million)
46  Global Hip Replacement Market, 2015-2023 ($Million)
47  Global Knee Replacement Market, 2015-2023 ($Million)
48  Global Shoulder Replacement Market, 2015-2023 ($Million)
49  Global Spinal Devices Market Share, 2016
50  Global Spinal Fusion Devices Market, 2015-2023 ($Million)
51  Global Spinal Non-fusion Devices Market, 2015-2023 ($Million)
52  Global Trauma Fixation Market Share, 2016
53  Global Trauma Fixation Devices Market, 2015-2023 ($Million)
54  Global External Fixator Devices Market, 2015-2023 ($Million)
55  Global Arthroscopic Market Share, 2016
56  Global Arthroscopes Market, 2015-2023 ($Million)
57  Global Arthroscopic Hand Instrument Devices Market, 2015-2023 ($Million)
58  Global Fluid Management Devices Market, 2015-2023 ($Million)
59  Global Power Shaver Systems Market, 2015-2023 ($Million)
60  Global Radiofrequency Probe Market, 2015-2023 ($Million)
61  Global Power Shaver Systems Market, 2015-2023 ($Million)
62  Global Orthopedic Braces & Support Systems Market Share, 2016
63  Global Orthopedic Prosthetics Market, 2015-2023 ($Million)
64  Global Ankle Braces & Supports  Market, 2015-2023 ($Million)
65  Global Knee Braces & Supports Market, 2015-2023 ($Million)
66  Global Wrist Braces Market, 2015-2023 ($Million)
67  Global Upper Extremity Braces Market, 2015-2023 ($Million)
68  China Orthopedic Devices Market Share by Product, 2016
69  China Orthopedic Devices Market Share by Product, 2016
70  China Bone Allograft Market, 2015-2023 ($Million)
71  China Bone Graft Substitutes Market, 2015-2023 ($Million)
72  China Bone Growth Factors & Spinal Stimulation Market, 2015-2023 ($Million)
73  China DBM Market, 2015-2023 ($Million)
74  China Other Orthobiologics Market, 2015-2023 ($Million)
75  China Ankle Replacement Market, 2015-2023 ($Million)
76  China Digits Replacement Market, 2015-2023 ($Million)
77  China Elbow Replacement Market, 2015-2023 ($Million)
78  China Hip Replacement Market, 2015-2023 ($Million)
79  Global Knee Replacement Market, 2015-2023 ($Million)
80  China Spinal Fusion Devices Market, 2015-2023 ($Million)
81  China Spinal Non-fusion Devices Market, 2015-2023 ($Million)
82  China Trauma Fixation Devices Market, 2015-2023 ($Million)
83  China External Fixator Devices Market, 2015-2023 ($Million)
84  Global Orthopedic Devices Market by Material, 2016 -2023 (Product Revenue)
85  Global Orthopedic Devices Market by Material, 2016 -2023 (Raw Material Revenue)
86  Global Biologics Substitutes Market, 2015-2023 ($Million)
87  Global Ceramic Market, 2015-2023 ($Million)
88  Global Metal Material Market, 2015-2023 ($Million)
89  Global Metal Alloy Material Market, 2015-2023 ($Million)
90  Global Knee Braces & Supports Bioabsorbable Polymer Market, 2015-2023 ($Million)
91  Global Biodegradable Polymers Market, 2015-2023 ($Million)
92  Global Other Advanced Material Market, 2015-2023 ($Million)
93  Global Orthopedic Devices Market by End-User, 2016 -2023 (Product Revenue)
94  Global Hospital Market, 2015-2023 ($Million)
95  Global Specialty Clinic Market, 2015-2023 ($Million)
96  Global GPs and Physician Offices Market, 2015-2023 ($Million)
97  Global Other End User (Research & Institutions) Market, 2015-2023 ($Million)
98  China Hospitals Market, 2015-2023 ($Million)
99  China Specialty Clinic Market, 2015-2023 ($Million)
100  China GPs and Physician Offices Market, 2015-2023 ($Million)
101  Global Orthopedic Devices Market by Region
102  Global Orthopedic Devices Market by Region 2016
103  Global Orthopedic Devices Market by Region 2023
104  North America Orthopedic Devices Market ($Million)
105  North America  Orthopedic Devices Market by Country
106  Europe Orthopedic Devices Market ($Million)
107  Asia Pacific Orthopedic Devices Market ($Million)
108  Latin America Orthopedic Devices Market
109  Global Orthopedic Market Share Analysis 2015
110  Global Orthopedic Market Share Analysis 2016
111  Global Trauma Fixation Market Share Analysis 2015
112  Global Trauma Fixation Market Share Analysis 2016
113  Global Orthobiologics Market Share Analysis 2015
114  Global Orthobiologics Market Share Analysis 2016
115  Global Spine Devices Market Share Analysis 2015
116  Global Spine Devices Market Share Analysis 2016
117  Global Joint Reconstruction Market Share Analysis 2015
118  Global Joint Reconstruction Market Share Analysis 2016
119  Growth Share Matrix by Company 2015
120  China Orthopedic Devices Competitive Landscape, 2015
121  China Orthopedic Devices Competitive Landscape, 2016
122  AlloSource: Product Portfolio
123  AlloSource: SWOT Analysis
124  Orthofix Holdings Inc: Product Portfolio
125  Orthofix Holdings Inc: Overall Financials (2014-2016) 
126  Orthofix Holdings Inc: Net Revenue by Business Segment (2014-2016)
127  Orthofix Holdings Inc: Net Revenue by Geography (2014-2016)
128 Orthofix Holdings Inc: SWOT Analysis
129 Kinetic Medical: Product Portfolio
130 Kinetic Medical: SWOT Analysis
131 RTI Surgical Inc: Product Portfolio
132 RTI Surgical Inc: Overall Financials, (2013-2015)
133 RTI Surgical Inc: Net Revenue by Business Segment, (2013)
134 RTI Surgical Inc: Net Revenue by Business Segment, (2014)
135 RTI Surgical Inc: Net Revenue by Business Segment, (2015)
136 RTI Surgical Inc: Net Revenue by Geography, (2013-2015)
137 RTI Surgical Inc: SWOT Analysis
138 Zimmer Biomet Holdings, Inc: Product Portfolio
139 Zimmer Biomet Holdings, Inc: Overall Financials (2014-2016)
140 Zimmer Biomet Holdings, Inc : Net sales by Product Segment (2014-2016)
141 Zimmer-Biomet Holdings, Inc : Net sales by Geography (2014-2016)
142 Zimmer-Biomet Holdings, Inc: SWOT Analysis
143 Medtronic Public Limited Company: Product Portfolio
144 Medtronic Public Limited Company: Overall Financials (2014-2016) 
145 Medtronic Public Limited Company: Net Revenue by Business Segment (2014-2016)
146 Medtronic Public Limited Company: Net Revenue by Region (2014-2016)
147 Medtronic Public Limited Company: SWOT Analysis
148 Globus Medical Inc.: Product Portfolio
149 Globus Medical Inc.: Overall Financials (2014-2016)
150 Globus Medical Inc.: Net Sales by Product Segment (2014-2016)
151 Globus Medical Inc.: Net Sales by Geography (2014-2016)
152 Globus Medical Inc.: SWOT Analysis
153 STRYKER CORPORATION: Product Portfolio
154 STRYKER CORPORATION: Overall Financials (2014-2016) 
155 STRYKER CORPORATION: Net Revenue by Business Segment (2014-2016)
156 STRYKER Corporation: Net Revenue by Region (2014-2016)
157 STRYKER CORPORATION: SWOT Analysis
158 Wright Medical Group N.V.: Product Portfolio
159 Wright Medical Group N.V.: Overall Financials (2014-2016) 
160 Wright Medical Group N.V.: Net Revenue by Business Segment (2014-2016)
161 Wright Medical Group N.V.: Net Revenue by Region (2014-2016)
162 Wright Medical Group N.V.: SWOT Analysis
163 Smith & Nephew plc: Product Portfolio
164 Smith & Nephew plc: Overall Financials (2014-2016) 
165 Smith & Nephew plc: Net Revenue by Business Segment (2014-2016)
166 Smith & Nephew plc: Net Revenue by Region (2014-2016)
167 Smith & Nephew plc: SWOT Analysis
168 JOHNSON & JOHNSON: Product Portfolio
169 JOHNSON & JOHNSON: Overall Financials (2014-2016)
170 JOHNSON & JOHNSON: Net Revenue by Business Segment (2014-2016)
171 JOHNSON & JOHNSON: Net Revenue by Geographical Region (2014-2016)
172 JOHNSON & JOHNSON: SWOT Analysis
173 Arthrex Inc: Product Portfolio
174 Arthrex Inc: SWOT Analysis
175 LifeNet Health Inc: Product Portfolio
176 LifeNet Health Inc: SWOT Analysis
177 NuVasive Inc: Product Portfolio
178 NuVasive Inc: Overall Financials (2014-2016) 
179 NuVasive Inc: Net Revenue by Business Segment (2014-2016)
180 NuVasive Inc: Net Revenue by Region (2014-2016)
181 NuVasive Inc: SWOT Analysis
182 Integra LifeSciences Corporation: Product Portfolio
183 Integra LifeSciences Corporation: Overall Financials (2014-2016) 
184 Integra LifeSciences Corporation: Net Revenue by Business Segment (2014-2016)
185 Integra LifeSciences Corporation: Net Revenue by Region (2014-2016)
186 Integra LifeSciences Corporation: SWOT Analysis

An Orthopedics device is used for various disorders related to joints, ligaments, muscles, nerves and tendons as well as other musculoskeletal diseases or injuries such as arthritis, osteoarthritis, joint pain, tendinitis, and tenosynovitis. It is used to support or replace the missing bone or joint. It helps in restoring the function by replacing or reinforcing the damaged structure. Orthopedics devices are used for the treatment of musculoskeletal diseases or injuries.

Technological innovations across the various segments of the Orthopedics industry have propelled the market growth. The global Orthopedics devices market is expected to reach $61 billion by 2023. A growing geriatric population and increasing demand for non-invasive treatments are boosting the market growth. The knee segment leads the market in terms of revenue. The hip segment is growing at a CAGR of 6.1%, due to an increase in number of hip fractures. The Orthopedics devices market broadly focuses on joint reconstruction and replacement, spinal surgery and rehabilitation, trauma or fixation, arthroscopy, Orthopedics soft goods, braces and supports and ortho-biologicals. The major product groups are artificial joints, spinal implants, devices for fracture repair (mainly intramedullary nails, plates, and screws), orthobiologics, and devices or equipment for arthroscopy.

The joint reconstruction and replacement devices market is the largest segment within the Orthopedics devices market is expected to grow at a CAGR of 6% from 2017 to 2023. This segment consists of various devices used for the reconstruction or replacement of hips and knee which accounted for $5,497 million and $9,695.0 million respectively in 2016. The most important driving factor for the revenue growth in this segment is the resurfacing technology. 

The growing awareness regarding the availability of innovative products among patients is pushing hospitals to constantly upgrade the devices and services they offer. In addition to this, the reimbursement coverage of Orthopedics treatments has further fuelled the adoption of Orthopedics surgeries. All the above-mentioned factors are positively impacting the market growth.

North America dominates the market for Orthopedics devices because of the prevalence of obesity and osteoarthritis and higher value per device in the region. The Asia Pacific market is expected to witness significant growth due to increasing population density and expanding healthcare markets. The global Orthopedics devices market offers tremendous opportunity for manufacturers by creating new and sustained export options for companies which will result in the removal of market barriers and help firms to capture large share in the market. The China Orthopedics market contributes about 4.5 percent to the total world Orthopedics market. The growth of this market in China is driven by increased aging population. China has the largest elderly population in the world, with more than 200 million people over the age of 60, approximately 15% of the China's 1.4 billion people. In China, Orthopedics supplies currently make up about 20% of all materials used in minor surgeries. Orthopedics supplies are the second most used type of devices after general surgery supplies.

The various driving factors as well as opportunities in Orthopedics  device market is providing an edge to the key players such as Zimmer Biomet Holdings Inc. Medtronic Public Limited Company, Globus Medical Inc. Wright Medical Group N.V., Johnson & Johnson, Smith & Nephew Plc., Stryker Corporation, RTI Surgical Inc., Arthrex Inc., and AlloSource, among others, to capture large market share, compete, develop new devices, implants, instruments and surgical procedures in the growing market of Orthopedics  devices.

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