Orthopedic Devices - Gambia | Statista Market Forecast

The Orthopedic Devices market market in Gambia is forecasted to achieve a revenue of US$332.70k in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 5.02%, leading to a market volume of US$425.10k by 2029.
When compared globally, the United States is projected to generate the highest revenue of US$16.02bn in 2024.
The demand for orthopedic devices in Gambia is steadily rising due to an aging population and increased awareness about musculoskeletal disorders.

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 Gambia is experiencing steady growth, driven by increasing customer preferences for advanced medical technology and the rising prevalence of orthopedic conditions. Customer preferences in the Orthopedic Devices market in Gambia are shifting towards products that offer superior functionality and durability. Patients are seeking orthopedic devices that provide long-term relief and improved mobility, allowing them to resume their daily activities with minimal discomfort. This trend is driven by a growing awareness of the benefits of advanced medical technology and the desire for a better quality of life. As a result, there is a rising demand for orthopedic implants, prosthetics, and braces that offer enhanced performance and durability. The market is also witnessing a rise in the adoption of minimally invasive surgical techniques. Patients are increasingly opting for procedures that involve smaller incisions, reduced scarring, and faster recovery times. This preference is driving the demand for orthopedic devices that are specifically designed for minimally invasive surgeries. These devices enable surgeons to perform procedures with greater precision and efficiency, resulting in improved patient outcomes. Another trend in the Orthopedic Devices market in Gambia is the increasing focus on patient-specific implants and personalized healthcare. With advancements in technology, orthopedic devices can now be customized to fit the unique anatomical requirements of individual patients. This personalized approach improves the overall effectiveness of orthopedic treatments and reduces the risk of complications. As a result, there is a growing demand for orthopedic devices that are tailored to the specific needs of each patient. Local special circumstances in Gambia also contribute to the development of the Orthopedic Devices market. The country has a high prevalence of orthopedic conditions, including fractures, osteoarthritis, and musculoskeletal disorders. This creates a significant demand for orthopedic devices, as patients require surgical interventions and supportive devices to manage their conditions. Additionally, the government of Gambia has been investing in healthcare infrastructure and promoting medical tourism, which further drives the demand for orthopedic devices. Underlying macroeconomic factors, such as population growth and increasing healthcare expenditure, also play a role in the development of the Orthopedic Devices market in Gambia. The country's population is growing, leading to a larger patient pool in need of orthopedic treatments. Furthermore, the government's commitment to improving healthcare services and infrastructure has resulted in increased healthcare spending, enabling more patients to access orthopedic devices and treatments. In conclusion, the Orthopedic Devices market in Gambia is witnessing growth due to customer preferences for advanced medical technology, the rising prevalence of orthopedic conditions, and the adoption of minimally invasive surgical techniques. The market is also influenced by local special circumstances, such as the high prevalence of orthopedic conditions and government investments in healthcare infrastructure. Underlying macroeconomic factors, such as population growth and increasing healthcare expenditure, further contribute to 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.