The global orthopedic devices market is expected to hit $41.2 billion by 2019, based on a Transparency Market Research report, according to EconoTimes.
Here are eight highlights:
1. The market will likely grow at a compound annual growth rate of 4.9 percent between 2013 and 2019.
2. In 2012, the market worth was $29.2 billion.
3. A growing geriatric population and increasing demand for noninvasive treatments are boosting the market.
4. The knee segment led the market in 2012, but may witness decline due to product recalls.
5. The hip segment is growing at a CAGR of 5.9 percent, due to an increased number of hip fractures.
6. North America led the market in 2012 because of the prevalence of obesity and osteoarthritis.
7. The Asia Pacific market will see significant growth due to an increasing population density and healthcare expenditure.
8. Key market players include NuVasive, Orthofix, Arthrex, Zimmer Biomet, Medtronic, Small Bone Innovations, TriMed, Conmed, Globus Medical, DePuy Synthes, Solana Surgical, Smith & Nephew, ArthroCare, Stryker, Integra LifeSciences, Aesculap, Vilex, aap Implantate and Wright Medical Technology.