{"id":482264,"date":"2024-01-11T09:13:09","date_gmt":"2024-01-11T14:13:09","guid":{"rendered":"https:\/\/platohealth.ai\/global-orthopedic-devices-market-size-share-forecast-report-2023-market-to-reach-103-9-billion-by-2030-analysis-by-drill-guides-guide-tubes-and-implant-holder-medical-device-news-magazine\/"},"modified":"2024-01-11T09:20:09","modified_gmt":"2024-01-11T14:20:09","slug":"global-orthopedic-devices-market-size-share-forecast-report-2023-market-to-reach-103-9-billion-by-2030-analysis-by-drill-guides-guide-tubes-and-implant-holder-medical-device-news-magazine","status":"publish","type":"post","link":"https:\/\/platohealth.ai\/global-orthopedic-devices-market-size-share-forecast-report-2023-market-to-reach-103-9-billion-by-2030-analysis-by-drill-guides-guide-tubes-and-implant-holder-medical-device-news-magazine\/","title":{"rendered":"Global Orthopedic Devices Market Size, Share & Forecast Report 2023: Market To Reach $103.9 Billion By 2030 – Analysis By Drill Guides, Guide Tubes, And Implant Holder – Medical Device News Magazine","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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Orthopedic Devices Market<\/h2>\n

The \u201cGlobal Orthopedic Devices Marke<\/a>t Size, Share & Trends Analysis Report by Product (Drill Guides, Guide Tubes, Implant Holder), End-use (Hospitals, Outpatient Facilities), Region, and Segment Forecasts, 2024-2030\u2033 report has been added to ResearchAndMarkets.com\u2019s offering.<\/p>\n

The global orthopedic devices market size is anticipated to reach USD 103.9 billion by 2030 and it is projected to grow at a CAGR of 5.3% from 2024 \u2013 2030.<\/p>\n

Major factors driving the market growth include high demand for orthopedic surgeries due to rising road accidents and prevalence of orthopedic diseases. Rise in geriatric population prone to orthopedic conditions primarily drives the global demand for orthopedic solutions. Effects of aging, such as lowering bone density and weakening of bones due to excessive loss of bone mass, are prominent in people from 25 to 54 years of age and becomes more noticeable after 55 years.<\/p>\n

High adoption of minimally invasive surgeries and an increasing number of sports and road traffic accidents are expected to fuel growth of the market during the forecast period. Arthroscopy, minimally invasive total joint replacement, and spine surgeries are some of the newly adopted minimally invasive surgeries.<\/p>\n

Stringent procedures of regulatory approvals are anticipated to hinder market growth over the forecast period. In addition, high cost of devices and surgeries are some other factors likely to impede growth.<\/p>\n

COVID-19 pandemic had a significant impact on the market. Elective orthopedic surgeries were postponed allocating resources for COVID-19 patients, leading to reduced demand. However, over time, the market adapted, focusing on infection control, remote consultations, and tele-rehabilitation. This pandemic accelerated digital health adoption, and implant materials evolved for patient safety.<\/p>\n

Moreover, key players in the market, such as NuVasive, Inc.; Medtronic plc; Stryker Corporation; Zimmer Biomet; and Smith+Nephew, among others, are engaging in strategic initiatives such as partnerships, collaborations, new product launches, acquisitions, and expansions to strengthen their market position.<\/p>\n

In January 2022, Smith+Nephew acquired Engage Surgical, which is involved in manufacturing cementless knee systems in the U.S. This acquisition is anticipated to enhance company\u2019s position in meniscal tear solutions and other knee arthroscopy devices.<\/p>\n

Orthopedic Devices Market Report Highlights<\/h2>\n