The
global orthopedic device market is
expected to grow by USD 6.07 million during 2020-2024, as per Technavio.
Healthy growth is expected to continue throughout the forecast period, and the
market is expected to grow at a CAGR of almost 3%. The report also provides the
market impact and new opportunities created due to the COVID-19 pandemic.
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orthopedic device market
The market is driven by the continuous advancements in technology. In
addition, the M&A deals are anticipated to boost the growth of the
orthopedic device market.
The market is witnessing significant advancements in technology led by
extensive R&D efforts of key market players. This can be attributed to the
growing demand for orthopedic devices with a high level of accuracy, precision,
which leads to better outcomes. For instance, Shoulder Innovations, one of the
emerging players in the market, has launched its total shoulder replacement
system which is based on the company’s patented inset glenoid technology. The
product has been successfully transplanted in many patients. Similarly, vendors
are also focusing on the development of implants that use metallic alloys of
titanium that provide high rigidity, strength, fracture toughness, and improved
mechanical performance. Many such technological advancements are fueling the
growth of the global orthopedic device market.
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Major Five Orthopedic Device Companies:
CONMED Corp.
CONMED Corp. operates its business through segments such as Orthopedic
surgery and General surgery. The company offers a wide range of orthopedic
devices for shoulder, knee, hip, elbow, wrist, and hand, foot and ankle, and
others.
DJO Global Inc.
DJO Global Inc. operates its business through segments such as Knee,
Hip, Shoulder, Spine, Hand/Wrist, and Foot/Ankle. The company offers a wide
range of orthopedic devices under brands such as Aircast, Bell-Horn, CMF,
DONJOY, DVT, Compex, Exos, Saunders, Chattanooga, and DJO Surgical.
Integra LifeSciences Corp.
Integra LifeSciences Corp. operates its business through segments such
as Codman Specialty Surgical and Orthopedics, and Tissue Technologies. The
company offers a wide range of orthopedic devices under product categories such
as Foot and Ankle, Hand and Wrist, and Shoulder and Elbow.
Johnson & Johnson
Johnson & Johnson operates its business through segments such as
Consumer, Pharmaceutical, and Medical Devices. The company offers a wide range
of orthopedic devices under product categories such as Hip Reconstruction, Knee
Reconstruction, Shoulder Reconstruction, Trauma, Spine Division, Mitek Sports
Medicine Division, and CMF.
Medartis Holding AG
Medartis Holding AG operates its business through a unified segment. The
company offers orthopedic devices for Hand, Wrist, Elbow, Shoulder, and Foot.
