Orthopedic Devices - Fiji | Statista Market Forecast

The projected revenue in the Orthopedic Devices market market in Fiji is expected to reach US$2.43m in 2024.
It is estimated that the revenue will demonstrate an annual growth rate (CAGR 2024-2029) of 4.71%, ultimately leading to a market volume of US$3.06m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, amounting to US$16.02bn in 2024.
Fiji's orthopedic device market is experiencing a growing demand for innovative solutions to address the unique healthcare needs of its diverse population.

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 Fiji is experiencing steady growth due to increasing customer preferences for advanced medical technology and the rising prevalence of orthopedic conditions.

Customer preferences: Customers in Fiji are increasingly seeking orthopedic devices that offer advanced features and improved functionality. They prefer devices that are lightweight, durable, and easy to use, as these factors contribute to better patient outcomes and overall satisfaction. Additionally, customers are also looking for orthopedic devices that are cost-effective and provide value for money.

Trends in the market: One of the key trends in the Orthopedic Devices market in Fiji is the growing demand for joint replacement devices. With an aging population and an increase in orthopedic conditions such as osteoarthritis, the need for joint replacement surgeries has been on the rise. This has led to an increased demand for orthopedic devices such as hip and knee implants. Another trend in the market is the adoption of minimally invasive surgical techniques. These techniques offer several advantages over traditional open surgeries, including smaller incisions, reduced post-operative pain, faster recovery, and shorter hospital stays. As a result, there is a growing demand for orthopedic devices that are specifically designed for minimally invasive procedures.

Local special circumstances: Fiji is a small island nation with limited healthcare infrastructure. This presents unique challenges in terms of access to healthcare services and medical devices. The government of Fiji has been taking steps to improve healthcare facilities and access to medical devices in the country. This includes investments in healthcare infrastructure, training of healthcare professionals, and the establishment of medical device regulatory frameworks.

Underlying macroeconomic factors: The Orthopedic Devices market in Fiji is influenced by several macroeconomic factors. The country's economic growth, healthcare expenditure, and government policies play a significant role in shaping the market. As the Fijian economy continues to grow, there is an increase in disposable income, which allows individuals to afford orthopedic devices. Additionally, the government's focus on improving healthcare services and infrastructure has also contributed to the growth of the market. In conclusion, the Orthopedic Devices market in Fiji is experiencing steady growth due to increasing customer preferences for advanced medical technology and the rising prevalence of orthopedic conditions. The demand for joint replacement devices and minimally invasive surgical techniques is on the rise. The local special circumstances of limited healthcare infrastructure and government initiatives to improve healthcare services also contribute to the market's development. Overall, the market is expected to continue growing in the coming years as Fiji's economy expands and healthcare services improve.

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.