Selbyville, DE -- (SBWIRE) -- 12/28/2018 -- Global Orthopedic Devices Market set to exceed USD 53 billion by 2024; according to a new research report by Global Market Insights, Inc.

The growing geriatric population base is highly susceptible for developing bone related diseases such as osteoporosis and osteoarthritis. As per WHO, the global population over 60 years is expected to reach 2 billion by 2050. Increasing base of elderly population will create significant demand for various orthopedic implants and devices.

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Trauma fixation devices should witness significant growth to reach USD 7 billion by 2024, due to growing demand in emerging regions and product innovation in relatively mature markets. Rising incidence of sports injuries and road accidents will also boost trauma fixation devices demand.

Orthobiologics is set to exceed USD 4 billion by 2024, owing to its rising demand among surgeons as a bone grafts and substitutes. Growing geriatric population, increasing prevalence of musculoskeletal disorders, changing lifestyle and availability of innovative products will trigger industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Globus Medical
- Medacta USA, Inc.
- Conformis
- Smith & Nephew
- Medtronic Spinal & Biologics
- DJO Global
- Waldemar Link GmbH & Co. KG
- TriMed
- DePuy Synthes Companies
- Integra LifeSciences
- NuVasive
- CONMED Corporation
- Aesculap
- Alphatec Spine

Joint reconstruction held over 40% of the orthopedic devices market share with expectations to witness more than 3% CAGR. Increasing geriatric population, rising prevalence of osteoporosis and osteoarthritis and soaring incidence of road accidents and sport injuries will drive demand for artificial joint reconstruction devices.
Spinal devices should witness more than 3.5% CAGR due to rising prevalence of degenerative disc diseases among the aged population, coupled with the novel products development for spinal disorders treatment. Most of the industry participants are exploring related business segments to broaden their product offerings and commercially exploit the lucrative market.

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U.S orthopedic devices market share held over 90% of regional revenue, with the estimated market value set to surpass USD 25 billion by 2024. Increasing adoption of advanced orthopedic solutions and improved healthcare infrastructure will stimulate business growth. Rising R&D support to develop innovative products should also augment industry expansion.

Germany held over 20% of the Europe orthopedic devices market share in 2016. The presence of sophisticated healthcare infrastructure, adoption of advanced healthcare technologies and accelerated research in the field of orthobiologics and arthroscopic devices should fuel the industry growth.

Orthopedic Devices Market by Product
o Joint Reconstruction
o Hip Replacement
o Knee Replacement
o Ankle Replacement
o Shoulder Replacement
o Spinal Devices
o Trauma Fixation Devices
o Orthobiologics
o Arthroscopic Devices