The global orthopedic devices market is set to reach $41.2 billion in 2019, based on a Transparency Market Research report, according to The Global Health News.
Here are seven observations:
1. In 2012, the market was worth $29.2 billion.
2. The global market will grow at a compound annual growth rate of 4.9 percent through 2019.
3. The increasing number of osteoarthritis and osteoporosis cases as well as the growing number of sports and road injuries will drive the global orthopedic devices market.
4. Product recalls, economic uncertainty and political reforms may deter the market.
5. The knee segment led the market by anatomical location, but the hip segment will grow at a 5.9 CAGR through 2019.
6. North America will continue to lead the global orthopedic devices market, with Europe following in second. The Asia-Pacific region will grow at the greatest pace through 2019.
7. Dominant market players include DePuy Synthes, Smith & Nephew, Zimmer Biomet, Globus Medical, Medtronic, TriMed, Integra LifeSciences, aap Implantate, Vilex, Small Bone Innovations, Orthofix, Solana Surgical, Conmed, NuVasive, Aesculap, ArthroCare, Stryker, Arthrex and Wright Medical Technology.