Market Insights Health Medical Technology Medical Devices

Orthopedic Devices - United States

United States

In the United States, the Orthopedic Devices market market is projected to achieve a revenue of US$16.04bn by 2024.
Furthermore, it is expected that the revenue will exhibit an annual growth rate (CAGR 2024-2028) of 3.36%, leading to a market volume of US$18.31bn by 2028.
Comparatively, the in the United States is anticipated to generate the highest revenue among global markets, amounting to US$16.04bn in 2024.
The United States is experiencing a growing demand for advanced orthopedic devices to cater to its aging population and increasing prevalence of musculoskeletal disorders.

Key regions: United States, United Kingdom, France, Germany, Europe

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Analyst Opinion

The Orthopedic Devices market in United States is experiencing significant growth and development.

Customer preferences: Customers in the United States have shown a strong preference for technologically advanced orthopedic devices. They are increasingly seeking devices that are more durable, efficient, and provide better patient outcomes. Additionally, there is a growing demand for minimally invasive procedures, which has led to an increased adoption of arthroscopy and other advanced surgical techniques.

Trends in the market: One major trend in the Orthopedic Devices market in United States is the increasing prevalence of chronic diseases such as osteoarthritis and osteoporosis. As the population ages, the incidence of these conditions is expected to rise, driving the demand for orthopedic devices. Furthermore, the rising number of sports-related injuries and accidents has also contributed to the growth of the market. Another trend is the continuous innovation in the field of orthopedic devices. Manufacturers are investing heavily in research and development to introduce new and improved products. This includes the development of bioresorbable implants, 3D-printed devices, and smart implants that can monitor patient progress and provide real-time data to healthcare providers. These advancements are not only improving patient outcomes but also reducing the overall cost of treatment.

Local special circumstances: The United States has a well-developed healthcare infrastructure and a high level of healthcare expenditure. This has facilitated the adoption of advanced orthopedic devices in the country. Additionally, the presence of a large number of orthopedic clinics, hospitals, and specialized healthcare providers has created a favorable environment for the growth of the market.

Underlying macroeconomic factors: The strong economy of the United States has played a significant role in the growth of the Orthopedic Devices market. With a high disposable income and a favorable reimbursement scenario, patients in the country are more willing to invest in advanced orthopedic devices and procedures. Moreover, the increasing healthcare expenditure and favorable government policies have further supported the growth of the market. In conclusion, the Orthopedic Devices market in United States is witnessing significant growth due to customer preferences for technologically advanced devices, the increasing prevalence of chronic diseases, and continuous innovation in the field. The well-developed healthcare infrastructure, strong economy, and favorable reimbursement scenario in the country have also contributed to the growth of the market.

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.