Harrisburg, NC -- (SBWire) -- 10/15/2020 --The Orthopedic Devices Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.

The global orthopedic devices market is expected to decline from $52.7 billion in 2019 to $39.3 billion in 2020 at a compound annual growth rate (CAGR) of -25.6%.

The decline is mainly due to COVID-19 outbreak and the measures to contain it. Several medical care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. The orthopedic surgeries have been postponed and in some cases cancelled due the nations lockdown. The restrictions on non-essential medical services including orthopedic services coupled with slowed production of orthopedic devices and implants due to extending factory closures in various countries is contributing to the markable decline in the market growth. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $63.6 billion in 2023.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Orthopedic Devices Market: Johnson & Johnson; Zimmer Biomet Holdings; Stryker Corporation; Smith & Nephew PLC; B. Braun Melsungen.

Industry News and Updates:

Jun 5, 2017: Kellogg's Gluten Free in India Case

When Kellogg's decided to come to India, they began with an aggressive ad campaign to get the word out, this did not work and they did not know why. They began to collect data and reviewed the results. From the data Kellogg's realized that the average Indian family did not eat breakfast. Also they liked to heat up their milk before mixing it with cereal, which is different than eating it cold and it makes the cereal taste bad. Price was a big thing for the Indian consumers as well. When Kellogg's decided to try and market their cereal as a health product, Indians began to think of it as a premium, upper-class product.
As of 2013, however, the Indian consumer was beginning to evolve. With the youngest population in the world, the young generation was looking towards the future and was looking forward to globalization. The young people knew they would be making more money soon, thanks to India's booming economy, and they were beginning to move towards more of a Western-style spending pattern. They knew that celiac disease was spreading and prevalent so they were looking to start spending their money while they were young on products that promoted a healthier lifestyle.

01 July 2016: Wessanen acquires gluten-free cake brand Mrs Crimble's

Food company Wessanen – the owner of brands such as Clipper Tea, Kallø and Whole Earth – has today acquired gluten-free cake brand Mrs Crimble's for an undisclosed sum. A pioneer in the UK's gluten-free market for more than 30 years, Mrs Crimble's has established itself as a producer of free-from macarons – as well as a broad range of other gluten-free products including cakes, biscuits, snacks and treats.
Mrs Crimble's net revenue amounted to £12.7m in 2015. It had widespread distribution across all channels in the UK and increasing presence internationally, and fits very well into Wessanen's existing portfolio of healthy and sustainable brands. And it is expected to benefit further from the growth of the free-from category with sales of free-from foods forecast to grow 13% to reach £531 million in 2016, up from an estimated £470 million in 2015, according to figures cited by Wessanen.

Key Market Trends

North America was the largest region in the global orthopedic devices market, accounting for 44% of the market in 2019. Asia Pacific was the second largest region accounting for 23% of the global orthopedic devices market. Africa was the smallest region in the global orthopedic devices market.

Biodegradable implants are increasingly being used in trauma orthopedic surgeries. Biodegradable implants are used to replace a missing biological structure, support a damaged biological structure, and enhance the existing bone structure. Biodegradable products such as reabosorbable polymers composed of polyglycolic acid and poly lactic acid manufactured in the form of plates, screws, and pins are replacing traditional devices like plates and screws which are more expensive. Surgeons are preferring biodegradable implants to replace conventional implants, as biodegradable implants can be engineered to provide temporary support for bone fractures; can degrade at a rate matching new tissue formation; can eliminate the need for second surgery, are highly useful in fracture fixation in children; and result in less implant related infections. For instance, Stryker Corp. offers orthrobiologics such as bone repair biodegradable products that are used in bone regeneration and bone healing, soft tissue regeneration and muscle connection to bone.

The orthopedic devices (or) equipment market consists of sales of orthopedic devices and related services by entities (organizations, sole traders and partnerships) that produce orthopedic devices used in treating bone abnormalities. This industry includes establishments that produce devices used in joint reconstruction, spinal surgeries, Craniomaxillofacial surgeries and orthobiologics implants. It also includes establishments manufacturing orthopedic accessories to fix or remove implants from the body and artificial devices to replace missing body part from the body under orthopedic prosthetics.

Markets Covered:

1) By Type: Joint Reconstruction Devices And Equipment; Spinal Surgery Devices And Equipment; Trauma Fixation Devices And Equipment; Orthobiologics Devices And Equipment; Arthroscopy Devices And Equipment; Orthopedic Braces And Support Devices And Equipment; Craniomaxillofacial (CMF) Devices And Equipment; Orthopedic Prosthetics; Orthopedic Accessories

2) By End User: Hospitals And Clinics; Diagnostic Laboratories; Others

3) By Type of Expenditure: Public; Private

4) By Product: Instruments/Equipment; Disposables

Influence Of The Orthopedic Devices Market Report:

-Comprehensive assessment of all opportunities and risk in the Orthopedic Devices market.
- Orthopedic Devices market recent innovations and major events.
-Detailed study of business strategies for growth of the Orthopedic Devices market-leading players.
-Conclusive study about the growth plot of Orthopedic Devices market for forthcoming years.
-In-depth understanding of Orthopedic Devices market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Orthopedic Devices market.

The report has 150 tables and figures browse the report description and TOC:

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Global Orthopedic Devices Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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