Global orthopedic device market to reach $44B by 2022

Global orthopedic device market to reach $44B by 2022

Recent major advancements involve development of robotic-assisted smart surgery for the spine, knee, shoulder, and hip-related implants.

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Contract Manufacturing Devices/Implants/Equipment

Cleveland, Ohio – The "Global Orthopedic Device Market 2018-2022" report has been added to Research and Markets' offering and the report indicates that the global orthopedic device market will register a revenue of more than $44 billion by 2022.

Global Orthopedic Device Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

A large number of key orthopedic implants manufacturers are increasingly focusing on research and developmental activities, which has resulted in the introduction of innovative products and advancements in orthopedic devices. The recent major advancements involve the development of robotic-assisted smart surgery for the spine, knee, shoulder, and hip-related implants. Several specialists and surgeons are recommending the adoption of minimally invasive (MI) surgery since these surgeries are highly accurate, precise, and result in enhanced patient outputs.

One trend in the market is M&A deals. Although key players such as DePuy Synthes, Zimmer Biomet, Stryker, Smith & Nephew, and Medtronic are having a significant presence in the market, they are facing tough competition from other emerging players and affecting the organic growth of these companies. Owing to these reasons players such as DePuy Synthes, Stryker, and Zimmer Biomet are changing their market strategies and focused on M&As to increase their presence in the market.

orthopedic manufacturing