Orthopedic Devices Industry to Grow Considerably as Demand for Affordable Devices Rises

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Dipikaa

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The global orthopedic devices Industry is set to gain traction from the ever-increasing geriatric population across the world. As per a research published in 2015 by the United Health Foundation, every year, more than 300,000 adults belonging to the age group of 65 years and above are estimated to be hospitalized for hip fractures. Besides, around 30% of seniors fall per year. It is further leading to higher number of orthopedic injuries. The study further mentions that the orthopedic devices Industry size stood at USD 51.33 billion in 2018 and is projected to reach USD 71.67 billion by 2026, thereby exhibiting a CAGR of 4.3% during the forecast period.

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Key Players:

  • Smith & Nephew
  • Stryker
  • Zimmer Biomet
  • Medical Devices Business Services, Inc. (Johnson & Johnson)
  • NuVasive, Inc.
  • Medtronic
  • Integra LifeSciences
  • Wright Medical Group N.V.
  • Össur Corporate
  • Globus Medical
Rising Prevalence of Musculoskeletal Diseases to Drive Growth

The American Academy of Orthopedic Surgeons, a provider of educational programs for allied health professionals and #orthopaedic surgeons, published a report that affirms that every year in the Unites States alone, approximately 6.8 million patients suffering from several orthopedic injuries come to medical attention. It proves that the rising prevalence of orthopedic injuries and musculoskeletal #diseases is further resulting in agonizing physical pain and limited mobility.

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