Global osteosynthesis devices market is poised to exhibit a CAGR of 6.20% between 2015 and 2023. The market was valued at US$6.20 bn in 2014. It is expected to reach US$11.10 bn by the end of 2023.
the global osteosynthesis devices market is primarily driven by a rising prevalence of osteoporosis. The market is also fueled by an increasing demand for superior facilities and devices for surgeries related to orthopedic trauma, and a greater focus shown by multinational companies in terms of investments.The global osteosynthesis devices market is also growing due to an increase in trauma and injuries related to road accidents, violence, sports, and falls.
In a past release by the American Association of Orthopedic Surgeons, nearly US$20 bn is spent by Medicare per annum. Nearly half of these dollars are meant for orthopedic surgeries. This shows that the U.S. is the most lucrative region for the global osteosynthesis devices market, which consequently interests a large number of manufacturers who can offer branded and affordable osteosynthesis devices.
The second-largest regional market in the global osteosynthesis devices market for 2014 was Europe. This region is expected to maintain a high growth rate due to the imminent introduction of advanced biodegradable materials.
The report also sheds light on the Asia Pacific osteosynthesis devices market, which is expected to be the fastest growing region in the global market till 2023. The key advantages of this region are the low cost of production and availability of raw materials. This is a major advantage which spans across multiple industry verticals. The Asia Pacific region is also securing a large share in the global osteosynthesis devices market due to the presence of medical tourism.
The key players in the global osteosynthesis devices market are Zimmer Biomet Holdings, Inc., Stryker Corporation, Smith & Nephew plc, Precision Spine, Inc., MicroPort Orthopedics, Inc., N茅osteo SAS, Life Spine, Inc., GS Medical, LLC, Globus Medical Inc., DePuy Synthes, Inc., and B. Braun Melsungen AG. Some of the key players have been detailed with respect to their product portfolio, mergers and acquisitions, regional expansions, and developments that have occurred recently.
