Here are four takeaways:
1. In 2015, the market was valued at $6.4 billion.
2. The market is expected to grow at a compound annual growth rate of 2.2 percent from 2015 to 2022.
3. Global reimbursement, regulatory limits and emerging markets preferring to adopt locally manufactured implants are hindering market growth. Additionally, many companies face challenges showing orthopedic devices’ efficacy, as FDA approval is often a lengthy process.
4. Despite market barriers, an increasing aging population, more motor vehicle accidents and the urbanization of emerging markets are fueling market demand.
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