Orthopedic Devices Market share to reach $53bn by 2024: Global Market Insights Inc. The global industry report "Orthopedic Devices Market Size By Product (Joint Reconstruction, Spinal Devices, Trauma Fixation Devices, Orthobiologics, Arthroscopic Devices), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Poland, Russia, China, India, Japan, Australia, South Korea, Taiwan, Argentina, Brazil, Mexico, South Africa, Saudi Arabia, Qatar, Egypt, UAE), Application Potential, Competitive Market Share & Forecast, 2017 - 2024" by Global Market Insights, Inc. says Orthopedic Devices Market size is set to exceed USD 53 billion by 2024. Growing geriatric population coupled with increasing prevalence of arthritis and osteoporosis will stimulate the global orthopedic devices market growth. Poor diet intake, lack of physical activity, and changing lifestyle trends should further fuel demand.
Rising number of road accidents coupled with increasing instances of sports injuries will spur orthopedic implants and devices demand. Growing trend towards adoption of minimally invasive surgical procedures and use of innovative biodegradable implants for medical treatment will fuel business growth. 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. Inflated surgery and devices cost, lack of skilled human resource and presence of non-uniform reimbursement scenario across different regions should restrain industry growth. Low per capita income levels in developing countries and lack of awareness will further limit business expansion. The joint reconstruction devices industry has gained popularity due to growing unmet need for better and effective solutions for bone related ailments. Technological advances in implants and minimally invasive implant techniques will promote business growth.
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