Press release
Orthopedic Device Market Regional Growth Drivers, Opportunities and Trends 2021-2027|Johnson and Johnson (DePuy Synthes), Stryker, Medtronic
The global Orthopedic Device market was valued at 3680.1 Million USD in 2020 and will grow with a CAGR of 3.03% from 2021 to 2027. Increased occurrence of orthopaedic injuries or disorders such as osteoarthritis, osteoporosis, traumatic fractures, and rheumatoid arthritis are among the major reasons. Aside from that, the industry is being driven by the significant expansion in the world's ageing population. However, the high cost of procedures requiring orthopaedic implants therapy, as well as stringent government policies, are impeding the orthopaedic devices market's growth.Due to high demand for advanced healthcare services owing to the presence of well-developed healthcare infrastructure, as well as large reimbursement coverage of orthopaedic treatments, North America was the leading revenue contributor in the global orthopaedic devices market in 2018, and is expected to continue this trend during the forecast period.
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Top Key Players Included in Orthopedic Device Market Report: Johnson and Johnson (DePuy Synthes), Stryker, Medtronic, Zimmer Biomet Holding, Smith & Nephew PLC, Globus Medical, DJO Global, Arthrex
Geographically, the global Orthopedic Device market is isolated into Europe, North America, Asia Pacific, Latin America, and the Middle East and Africa. Europe tended to be the best piece of this market in 2017. This is essentially an aftereffect of the advancement in the creating individuals, developing government usage on organizations dynamically over Europe, rising apportioning, and the high repayment rate when standing apart from different locales. The Asia Pacific district is relied on to make at the most raised CAGR during the action time-frame.
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Orthopedic Device Market segment by Type:
Hip Device
Knee Device
Spine Device
Orthopedic Device Market segment by Application:
Hospital
Clinic
Covid-19 can impact the overall economy in three major habits: by directly affecting creation and solicitation, by making creation organization and market interference, and by its financial impact on firms and money related business areas. Our inspectors noticing the situation across the globe explains that the Orthopedic Device market will make beneficial opportunities for producers post COVID-19 crisis. The report intends to give an additional depiction of the latest circumstance, money related respite, and COVID-19 impact on the overall business.
FAQs:
1. Would Asia Pacific continue to be the most overarching common market for providers throughout the next few years?
2. Which factors would destroy the overall market during the assessed time period?
3. Which are the primary associations working in the global market?
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