Recent Report Predicts Steady Overall Orthopedic Market Growth for Next Five Years

The global orthopedic devices market was valued at $29.2 billion in 2012 and is expected to grow at a compound annual growth rate of 4.9 percent from 2013 to 2019, to reach an estimated value of $41.2 billion in 2019, according to a recent report from Transparency Market Research in Albany, N.Y.

Demand for orthopedic procedures is expected to grow in the near future owing to the increase in geriatric population and obesity across the globe.

The report examines the primary orthopedic device segments such as joint implants, internal and external fixation devices. The results have been broken down further based on anatomical locations—hip, knee, shoulder, elbow, foot and ankle and other extremities.

Spinal orthopedic devices have been segmented into joint implants and internal fixation devices, while craniomaxillofacial devices market include estimations only for internal fixation devices. Various emerging technologies such as bio-absorbable implants and minimal invasive procedures currently form major drivers for the growth of this market. 



High incidence rates of osteoporosis, osteoarthritis, obesity along with rapidly aging global population also form key drivers for the global orthopedic devices market. Increase in procedure demand and rise in people opting for minimally invasive surgeries coupled with expanded access in emerging markets are some of the other factors propelling the growth of the market, report authors noted.

Introduction of biodegradable implants and internal fixation devices will serve as future growth opportunities for orthopedic devices for various anatomical locations. However, product recalls act as a major growth restraint for the market due to incidences such as adverse side effects to the patient. Device-related infections, manufacturing errors, implant loosening, wear debris, corrosion, hypersensitivity and toxicity are some of the other causes leading to orthopedic device failure.



Geographically, North America dominated the global orthopedic devices market and is expected to continue to lead in terms of revenue generation throughout the forecast period. The market in North American region was valued at $11.8 billion in 2012.

Asia-Pacific is considered as the most lucrative market for orthopedic devices market owing to the increase in incidences of bone related disorders and obesity through 2019.

The leading players in the market for orthopedic devices market according to the report are DePuy Synthes, Zimmer Holdings Inc., Stryker Corp., Medtronic Inc., Smith & Nephew plc, Wright Medical Technology Inc., NuVasive Inc. and Globus Medical Inc.