Sellbyville, DE -- (SBWIRE) -- 11/30/2018 -- Global Orthopedic Devices Market set to exceed USD 53 billion by 2024; according to a new research report by Global Market Insights, Inc.

Advances in osteology to develop cost effective devices along with technological innovation in robot assisted surgical interventions, implants and 3D printing will boost the orthopedic devices market size over the forecast years. Emerging countries should offer lucrative growth opportunities due to increasing elderly population, rising prevalence of bone disorders and adoption of novel technologies over coming years.
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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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.
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

U.S. orthopedic devices market was valued at over USD 20 billion in 2016 and is anticipated to witness significant growth over the coming years. Rising prevalence of osteoporosis, osteoarthritis, and musculoskeletal disorders, growing geriatric population, adoption of advanced technologies and presence of sophisticated healthcare infrastructure should boost orthopedic devices industry growth.

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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