Market Insights Health Medical Technology Medical Devices

Orthopedic Devices - Americas

Americas

The Orthopedic Devices market market in the Americas is anticipated to achieve a staggering revenue of US$20.85bn by 2024.
With an annual growth rate (CAGR 2024-2029) of 3.78%, the market volume is projected to expand to US$25.10bn by 2029.
It is worth noting that the United States will be the primary contributor to this revenue, generating an impressive US$16,020.00m in 2024.
In the Americas, the orthopedic devices market is experiencing a surge in demand due to the aging population and increasing prevalence of musculoskeletal disorders.

Key regions: France, Netherlands, Europe, Germany, Japan

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Analyst Opinion

The Orthopedic Devices market in Americas is witnessing significant growth due to several factors such as increasing prevalence of orthopedic disorders, rising geriatric population, and advancements in medical technology.

Customer preferences: Customers in the Americas region are increasingly opting for minimally invasive orthopedic procedures and devices. This is driven by the desire for quicker recovery times, reduced pain, and smaller incisions. Additionally, there is a growing demand for personalized orthopedic devices that are tailored to individual patient needs. Patients are also seeking devices that offer better functionality and improved quality of life.

Trends in the market: One of the key trends in the Orthopedic Devices market in Americas is the adoption of robotic-assisted surgeries. Robotic systems provide surgeons with greater precision, control, and visualization during orthopedic procedures. This technology is particularly beneficial for complex surgeries such as joint replacements. The use of robotics in orthopedic surgeries is expected to increase in the coming years. Another trend in the market is the increasing use of 3D printing technology. 3D printing allows for the production of customized orthopedic devices that are more accurate and efficient. This technology enables the creation of patient-specific implants and prosthetics, resulting in better outcomes and improved patient satisfaction.

Local special circumstances: In the Americas region, there are certain local special circumstances that impact the Orthopedic Devices market. For example, the high prevalence of sports-related injuries in North America has led to a greater demand for orthopedic devices such as knee and shoulder implants. Additionally, the increasing obesity rates in the region have contributed to a rise in orthopedic disorders such as osteoarthritis, further driving the demand for orthopedic devices.

Underlying macroeconomic factors: The Orthopedic Devices market in Americas is also influenced by underlying macroeconomic factors. For instance, the growing geriatric population in the region is a key driver of market growth. As the elderly population increases, the incidence of orthopedic disorders such as osteoporosis and osteoarthritis also rises, leading to a higher demand for orthopedic devices. Furthermore, the strong healthcare infrastructure in the Americas region, coupled with favorable reimbursement policies, is contributing to the growth of the Orthopedic Devices market. The availability of advanced medical facilities and skilled healthcare professionals ensures that patients have access to quality orthopedic care, driving the demand for orthopedic devices. In conclusion, the Orthopedic Devices market in Americas is experiencing significant growth due to customer preferences for minimally invasive procedures and personalized devices, as well as the adoption of robotic-assisted surgeries and 3D printing technology. Local special circumstances such as the prevalence of sports-related injuries and the increasing obesity rates in the region further contribute to market growth. Additionally, underlying macroeconomic factors such as the growing geriatric population and a strong healthcare infrastructure play a significant role in driving the demand for orthopedic devices in the Americas.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.