The global orthopedics market has been analyzed in a business intelligence study by Transparency Market Research. The report, titled “Orthopedics Market – Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2009 – 2018,” presents a thorough assessment of key market indicators, growth trends, and medicinal advancements that will contribute to the market’s growth over the 2009-2018 forecast timeframe.
The report says that the orthopedics market will expand at an impressive pace over the said period owing to the rising prevalence of musculoskeletal disorders. Across the world, the growing geriatric population susceptible to falls, accidents, and age-related degeneration is a key factor behind the growth of orthopedics market. The field focuses on the diagnosis, correction, prevention, and treatment of skeletal deformities. Skeletal deformities comprise disorders of bones, muscles, joints, ligaments, nerves, skin, and tendons that affect abilities to move, work, and be active.
Advances in medical science has also influenced the orthopedics market. From a field once exclusively devoted to the care of children with spine and limb deformities, orthopedics now involves care of patients of all ages. This could be newborns with clubfeet to young athletes that require arthroscopic surgery to older people with arthritis. While orthopedic surgeons are generally familiar with all aspects of the musculoskeletal system, several orthopedic surgeons specialize in certain areas such as spine, shoulder, foot and ankle, knee, hand, or hip. Some orthopedic surgeons also choose to practice a specific line of orthopedic medicine such as pediatric orthopedics, trauma or sports orthopedics.
Technological advances in joint replacement, knee replacement, and reconstructive surgery have also benefitted the market’s growth. This includes increasing use of robotics in orthopedic procedures and advancement in orthopedic devices to carry out minimally invasive procedures. Such developments are accentuating the growth of orthopedics market.
The modernization of healthcare infrastructure in developing economies is also favoring the orthopedics market. Investments from private trusts and government aid for modernization of healthcare facilities has positively impacted overall medicine in these countries, which includes orthopedics. Orthopedic department usually includes expert consultants, surgeons, trained technical staff, and is equipped with the state-of-the-art technology.
The report evaluates the segments that could lead to promising returns on investments for companies. The report divulges joint replacement and reconstruction held the leading share in the overall orthopedics market in 2011. This is mainly because of a large population suffering from joint-related injuries. However, biodegradable medical implants is likely to display notable growth within this market.
The report presents an overview of the orthopedics market from a geographical perspective. North America, Asia Pacific, Europe, and Rest of the World are the regions that have been analyzed in this report. The report states that North America and Europe markets are mature due to an ultra-modern healthcare infrastructure, home to several established pharmaceutical and medical devices companies, and robust state driven healthcare programs.
Asia Pacific is emerging as a lucrative orthopedics market. The growing geriatric population in the region is a key factor driving the orthopedics market. This population is susceptible to falls, accidents, and age-related disorders such as arthritis.
The report assesses the global orthopedics market from a competitive standpoint as well. It identifies key companies and profiles each of them for distinguishing business attributes. Key companies that are mentioned in the report are Genzyme Corporation, B Braun, DePuy Inc., Stryker Corporation, and Medtronic Inc.
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