Orthopedic Devices Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2026
The global orthopedic device market size is expected to reach USD 47.7 billion by 2026, according to the study performed by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.1% over the forecast period. Major factors driving the market include high demand for orthopedic surgeries owing to rising incidents of road accidents and the prevalence of orthopedic diseases. The rise in geriatric population prone to orthopedic conditions is primarily pushing the demand for orthopedic solutions globally. Effects of aging such as lowering of bone density and weakening of bones due to excessive loss of bone mass are prominent in people from 25 to 54 years age group that become more noticeable after 55 years. High adoption of minimally invasive surgeries and an increasing number of sports and road traffic accidents are expected to fuel the growth of the orthopedic devices market growth during the forecast period. Arthroscopy, minimally invasive total joint replacement, and spine surgeries are some of the newly adopted minimally invasive surgeries. Browse Details of Market Report @ https://www.grandviewresearch.com/industryanalysis/orthopedic-devices-market Stringent procedures of regulatory approvals are anticipated to hinder market growth in the near future. In addition, the high cost of devices and surgeries are some other factors likely to impede growth.