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North American Orthopedic Devices Market size to reach $29.2 Bn by 2027

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North American Orthopedic Devices Market size is predicted to cross USD 29.2 billion by 2027, according to a latest forecast report by Graphical Research.

Rising prevalence of orthopedic disorders coupled with the increasing elderly population is anticipated to boost the North America orthopedic devices market demand. As per the U.S. Census Bureau, in 2019, around 54.1 million people were aged 65 years and older in the U.S.  The number is further anticipated to reach 80 million by the end of 2040. The orthopedic ailments are commonly associated with aging and are projected to surge with an aging population. As per the Geriatric Orthopedic Surgery and Rehabilitation, individuals aged 70 years and older have a high form of comorbidity as compared to the younger patient population. Reduced physiological reserve, mortality & morbidity, and increase in health comorbidities after trauma may substantially differ in younger individuals and people age 70 years and above. The individuals belonging to the 70 and older age group are more susceptible to have serious injuries owing to a fall and related incidents. As per the National Trauma Database, elderly patients aged 65 and older with trauma are approximately 25% among total trauma patients in the U.S. Moreover, as per the recently published report, around 80% of the elderly population in the U.S. is anticipated to suffer from musculoskeletal injuries.

An upsurge in the number of orthopedic surgeries in North America will promote the orthopedic devices market growth. Orthopedic surgeries are a medical procedure that involves the repair of an injured joint to deliver permanent solutions to joint disorders. As per the American Academy of Orthopedic Surgeons (AAOS), primary total knee replacement procedures are expected to reach approximately 1.28 million by 2030 in the U.S.  The increase in the number of road accidents often needs orthopedic surgery and is projected to amplify the orthopedic devices industry in the region. In 2018-2019, approximately 75,000 knee reconstructions and over 62,000 hip reconstructions were performed in Canada. Additionally, the Hospital for Special Surgery (HSS) that engaged in providing research, diagnosis, and treatments in joint reconstruction disorders received a USD 10 million grant in the U.S.

Browse detailed statistical insights from the report, “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” along with the table of contents (ToC) @

https://www.graphicalresearch.com/industry-insights/1966/north-america-orthopedic-devices-market

The spinal devices segment held over 19% market share in 2020 owing to several advantages such as facilitating the fusion of two vertebrae, correcting deformities, and strengthen & improve the stability of the spine among others. Moreover, the growing prevalence of degenerative disc ailments among aged people coupled with the advent of novel products for spinal ailments treatment is anticipated to spur the North America orthopedic devices market revenue. As per the American Chiropractic Association, approximately 31 million people experience lower back pain at any given time in the U.S. According to the article published by the National Center for Biotechnology Information, an estimated 2.4 million people will be affected with symptomatic lumbar spinal stenosis by the end of 2021 in the U.S. The spinal treatment options are continuously evolving with the launch of novel spinal devices and implants. The use of spinal devices is one of the recommended and successful options for the treatment of degenerative changes or spinal misalignments.

Canada orthopedic devices market is poised to witness over 4.8% CAGR during the forecast timeframe owing to the growing prevalence of orthopedic disorders, availability of highly skilled surgeons, and growing health expenditure in the county. As per the arthritis Society, in 2019, around 6 million people were suffering from arthritis in Canada. As per the Canadian Chiropractic Association (CCA), in 2019, over 11 million individuals were suffering from a disorder or injury that affects their movement owing to a chronic back problem, back pain, etc. in the country. Furthermore, according to the study performed in 2020, approximately 1.4 million people including an estimated 1 in 4 women and over 1 in 8 men over the age of 50 were suffering from osteoporosis in Canada. Moreover, according to the Canadian Institute for Health Information, in 2019, the healthcare expenditure was around USD 265.5 billion, or USD 7,064 per person in Canada. Thus, the surging prevalence of orthopedic disorders coupled with growing health expenditure in the country is anticipated to augment the industry growth.

The North American orthopedic devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2016 to 2027, for the following segments:

North America Market, By Product

  • Joint Reconstruction Devices
    • Hip Replacement
    • Knee Replacement
    • Ankle Replacement
    • Shoulder Replacement
    • Others
  • Spinal Devices
  • Trauma Fixation Devices
  • Orthobiologics
  • Arthroscopic Devices
  • Others

The above information has been provided for the following countries:

  • North America
    • U.S.
    • Canada