Triton Market Research presents their global orthopedic procedure market report segmented by procedure (arthroscopy, joint reconstruction, soft tissue replacement, spinal surgery procedure, orthobiologics) and by geographical region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - discussing Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).
Triton Market Research expects the global orthopedics procedure market to witness a compound annual growth rate of 5.24% during the forecast period of 2019-2027. The market growth is propelled by factors like a global increase in the elderly population, high incidences of sports and road injuries globally, the popularity of the MIS procedures and increasing use of bio-absorbable procedures.
By the end of 2027, the market is likely to prosper due to an increase in bone tissue engineering, improved health care spending, and growing demand for orthopedic procedures. However, increasing vendor competition, the high cost of these procedures and lack of skilled surgeons might challenge the market expansion over the projected years. Arthroscopy procedures constitute a major share of the market owing to a growing need for treating increased orthopedic disorders. Of them, joint surgery is the most popular procedures. In the year 2018, the Knee joint procedures contributed to a significant market revenue share. In the US, the average cost of knee arthroscopy techniques ranges between $5,000 - $15,000. Other popular surgeries include shoulder, hip, foot, and ankle, etc.
Overall, North America is the biggest market for orthopedic procedures. The spine and knee segments are the major revenue contributors of this region, followed by trauma and extremities, hip, and foot and ankle. The region also has a large number of elderly population, thus offering a large patient base to the global market. Manufacturers of orthopedic procedure equipment in the US are adopting new strategies regarding innovation and product portfolio extension to increase their market share. The Latin American companies are also witnessing significant growth, thus facilitating better accessibility of healthcare facilities to the patients. Triton Market Research has provided a detailed analysis of this region along with compiling market data from other regions like Asia-Pacific, Europe, and the Middle East and Africa in its global orthopedic procedures market report.
Triton Market Research has profiled some of the leading companies engaged in orthopedic markets. Some of these leading companies include Medtronic Inc., Arthrocare Corporation, Amedica Corporation, Depuy Inc., Smith and Nephew PLC, Biomet Inc., AAP Implantate Ag, Exactech Inc., Olympus Optical Co. Ltd, and Conmed Corporation.
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