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North America Orthopedic Devices Market Forecast 2027 By Product (Joint Reconstruction Devices {Hip Replacement, Knee Replacement, Ankle Replacement, Shoulder Replacement}, Spinal Devices, Trauma Fixation Devices, Orthobiologics, Arthroscopic Devices), Research Report, Country Outlook (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: October 2021 | Publisher: Graphical Research Report ID: GR1966 | Delivery : PDF  Request Free Sample

North America Orthopedic Devices Market size exceeded USD 20.9 billion in 2020 and is expected to witness over 4.1% CAGR from 2021 to 2027.

The increasing success rates of orthopedic procedures due to growing technological advancements will drive the market demand. In the U.S., every year more than 900,000 individuals undergo knee replacement surgical procedures attributed to painless surgeries and the presence of high-quality surgical devices due to the availability of high precision instruments. Around 85% to 90% of the total knee implants work well up to 20-25 years hence, increasing preference for such durable and better-quality implants.

North America Orthopedic Devices Market

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Several industry players are focusing on the introduction of newer technologies in areas such as hip, knee, shoulder, and ankle implants. For instance, orthopedic implants offered by major industry players such as Medtronic, Zimmer Biomet, and DePuy Synthes reduce post-surgical complications. These industry players have introduced a simplified and modern approach, thereby enabling the placement of implants without cutting any muscles or tendons. In addition to this, the development of novel surgical techniques that follow different approaches helps in reducing traumatic conditions have impacted the industry revenue positively. Companies including Stryker and Smith & Nephew plc have developed implant technologies that addresses metal sensitivity complications related to joint replacement implants.

Growing number of orthopedic surgeries are further leading to the high demand for orthopedic devices. The rising geriatric population requires surgical procedures to improve their quality of life. High-pitched growth rates reported in the U.S., accounts for the rising number of surgical activities, especially for knee and hip replacements. Individuals unresponsive to medication, opt for joint replacement surgery that is cost-effective and intrusion refurbishing joint functions, reducing pain, and improving quality of life. Implants used in joint arthroplasty procedures require replacement after 15-20 years, thus individuals require a revision surgery.

North America Market, By Product

The joint reconstruction devices segment will observe 4.4% growth rate during the forecast timeframe, owing to several advantages such as offering primary fixation to the bone for replacement of articulating surface, treats damaged bone joints with metal or plastic implants, and highly effective at reducing stiffness and pain from arthritis or injuries. Similarly, the increasing prevalence of osteoporosis in the elderly population within the age group of 65 years and above has stimulated the demand and adoption for joint reconstruction devices.

The key industry players including Zimmer Biomet and Stryker have implanted certain initiatives to augment the improvisations in the joint reconstruction devices that are utilized in the joint replacement procedures. Owing to recent advancements and high efficiency of implants for a longer duration of around 20-25 years, the demand and adoption for such high-quality devices is rising.

North America Market, By Country

U.S. orthopedic devices market revenue was more than USD 19.6 billion in 2020, attributed to the recent advancements in orthopedic devices, the rising number of joint reconstruction surgeries, etc. As per the National Center for Health Statistics, over 5.2 million musculoskeletal system surgeries are performed every year in the U.S. Moreover, obesity is recognized as one of the risk factors for both the occurrence and evaluation of osteoarthritis. Unhealthy body weight coupled with lack of exercise and physical movement in obese people is a cornerstone in growing concerns regarding osteoarthritis. Owing to the high prevalence of obesity in the U.S. adult population, more than 15% population is suffering from osteoarthritis and other orthopedic diseases.

Competitive Industry Landscape

Some of the major players involved in the market include Waldemar LINK, TriMed Inc., Smith & Nephew, NuVasive, Microport Scientific Corporation, Integra LifeSciences, and Globus Medical among others. These companies are adopting various organic and inorganic strategies such as product launches and partnerships for garnering maximum market share and strengthening their presence.

Frequently Asked Question(FAQ) :

The market size for orthopedic devices in North America was surpassed USD 20.9 billion in 2020 and will observe more than 4.1% CAGR through 2027 with technological advancements and demand for painless surgeries.
The market share for orthopedic devices in North America from joint reconstruction devices will witness around 4.4% CAGR up to 2027 on account of their effectiveness in reducing pain and stiffness from injuries or arthritis.
The market revenue for orthopedic devices in U.S. was over USD 19.6 billion in 2020 and will rise due to increasing surgeries and prevalence of obesity.
Integra LifeSciences, Microport Scientific Corporation, Waldemar LINK, NuVasive, TriMed Inc. and Globus Medical are some of the key players boosting North America market share.

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