Because of the growing senior population and the demand for orthopaedic devices that are capable of enhancing their quality of life, the orthopaedic device manufacturing sector is expected to develop substantially in the future years to come. Demands in the global orthopaedic devices market is expected to rise as a result of the rise in elderly population along with increased awareness about their advantages. With the ageing of baby boomer generation and the rise in the number of obese and overweight people, the need for orthopaedic devices is likely to grow rapidly. In addition to that, increased prevalence of degenerative bone disease and growing elderly population is likely to augur well for the global orthopaedic devices market in the years to come. Obesity and inactive lifestyles are the two primary factors projected to drive demand for orthopaedic devices. Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php? flag=B&rep_id=1781 As a result, joint replacement procedures, such as hip or knee replacements, have gradually grown and are expected to continue to rise amongst those aged 65 years and over. Hospitals are upgrading their equipment as more people become increasingly aware about the availability of modern medical as well as various orthopaedic devices. The acceptance of orthopaedic and other operations has also been aided by reimbursement for treatment expenses. These characteristics enable hospitals and clinicians to seek out more modern, higher-priced gadgets, increasing manufacturers' overall income. Globus Medical, Inc., Zimmer Biomet Holdings, Inc., Stryker Corporation, Aesculap Implant Systems, LLC, DePuy Synthes, and Smith & Nephew plc are some of the companies in the global orthopedic devices market. Request Sample of Report - https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=1781 In 2018, the global orthopaedic devices market was worth around US$ 46.2 Bn, and it is expected to grow at a rate of 4.3% CAGR over the forecast period, from 2019 to 2027. Presence of Advanced Healthcare Infrastructure and Favorable Reimbursement Policies to Drive North America Market The existence of highly advanced infrastructure, reimbursement coverage, and industry heavyweights are just a few of the reasons fueling regional growth. The number of orthopaedic procedures in the North America region is increasing due to an older target patient population and an increase in vehicle accidents. In the US, the high frequency of orthopaedic diseases along with the increased uptake of sophisticated treatment techniques is expected to drive growth of the orthopaedic devices market in the North America region. In addition, Asia Pacific is predicted to exhibit high growth rate over the forecast period, from 2019 to 2027. The majority of the elderly population pool is projected to be present in India and China. As a result, in the not-too-distant future, the demand from these nations is projected to skyrocket.
Orthopedic Devices Market Size Estimated to Observe Significant Growth by 2027
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