The global outsourced orthopedic manufacturing market is likely to grow from 2016 to 2020, according to a Technavio report.
Here are five insights:
1. The market in the Americas is likely to exceed a $2 billion value by 2020.
2. The market is expected to grow at a compound annual growth rate of over 7 percent.
3. Factors accelerating the growth of the market include the growing aging population and the high prevalence of obesity leading to an increase in orthopedic disorders.
4. The outsourced orthopedic manufacturing market is largest in the Americas.
5. However, the Asia-Pacific region has the fastest growing outsourced orthopedic manufacturing market. It is expected to exceed $1 billion by 2020.