Orthopedic Devices - Czechia | Statista Market Forecast

The projected revenue in the Orthopedic Devices market market in Czechia is expected to reach US$179.50m in 2024.
This represents a significant growth potential for the country's orthopedic device industry.
Moreover, it is anticipated that the market will continue to expand at an annual growth rate (CAGR 2024-2029) of 3.57%, resulting in a market volume of US$213.90m by 2029.
This steady growth demonstrates the increasing demand for Orthopedic Devices market in Czechia.
However, when compared globally, it is noteworthy that the United States is expected to generate the highest revenue in the Orthopedic Devices market market, with a projected revenue of US$16.02bn in 2024.
This indicates the dominance of the US market in terms of revenue generation within the orthopedic device industry.
Czechia is experiencing a growing demand for advanced orthopedic devices due to its aging population and increasing prevalence of orthopedic conditions.

Definition:
The Orthopedic Devices market contains medical equipment and accessories used to treat orthopedic disorders, including joint reconstruction, spinal devices, trauma fixation devices, arthroscopic devices, etc.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Johnson & Johnson, Zimmer Biomet, Stryker, Medtronic. Further information on the key players can be found in the Market Shares boxes.

Joint reconstruction implants
Spinal devices
Trauma fixation devices
Arthroscopy devices

Orthopedic pharmaceuticals
Orthopedic supplements

The Orthopedic Devices market in Czechia has been experiencing steady growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this development. Customer preferences in the Orthopedic Devices market in Czechia have been shifting towards more advanced and innovative products. Patients are increasingly seeking orthopedic devices that offer better functionality, durability, and comfort. This has led to a rise in demand for technologically advanced implants, prosthetics, and orthotics. Additionally, there is a growing preference for minimally invasive procedures, which has driven the demand for arthroscopic devices and surgical instruments. Trends in the market indicate that the Orthopedic Devices sector in Czechia is witnessing significant innovation and product development. Manufacturers are investing in research and development to introduce new and improved orthopedic devices. This includes the development of customized implants and prosthetics using 3D printing technology. Furthermore, there is a growing focus on the use of biocompatible materials and surface coatings to enhance the performance and longevity of orthopedic devices. Local special circumstances in Czechia have also played a role in the development of the Orthopedic Devices market. The country has a well-established healthcare system, with a high level of accessibility and affordability for patients. This has contributed to a growing patient pool seeking orthopedic treatments and devices. Additionally, Czechia has a strong manufacturing base for medical devices, attracting both domestic and international companies to invest in the production of orthopedic devices. Underlying macroeconomic factors have further supported the growth of the Orthopedic Devices market in Czechia. The country has a stable economy with a favorable business environment, which has attracted foreign investment and facilitated the expansion of domestic companies. Furthermore, the aging population in Czechia has led to an increased prevalence of orthopedic conditions, driving the demand for orthopedic devices. The government's focus on healthcare infrastructure development and reimbursement policies has also contributed to the growth of the market. In conclusion, the Orthopedic Devices market in Czechia is developing due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for advanced and innovative orthopedic devices, along with the focus on minimally invasive procedures, has driven market growth. The country's well-established healthcare system, strong manufacturing base, stable economy, and aging population have further supported the development of the market.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.