Orthopedic Devices Market Analysis

Orthopedic Devices Market Analysis

In terms of product, the orthopedic devices market is categorized into joint reconstruction devices, trauma fixation devices, spinal devices, arthroscopic devices, ortho biologics, and others. The spinal devices segment is estimated to progress at more than 2.5% CAGR from 2023 to 2032. Ongoing technological advancements in spinal devices are stimulating segment growth. Moreover, increasing cases of spinal disorders, a growing obese population base, expanding geriatric population pool, the introduction of advanced cost-effective devices, and the soaring demand for minimally invasive procedures are some additional factors that are driving the segment progress.
 

Asia Pacific orthopedic devices market is foreseen to reach USD 15 billion by 2032. This is attributed to substantial investments and R&D projects by industry players and surging incidences of orthopedic injuries, traumatic fractures, and road accidents, among others, in the APAC region. As per recent studies, China accounted for around 1.2 billion individuals suffering from osteoarthritis, with over 55% of them being above 60 years of age.