Orthopedic Devices - Pakistan | Statista Market Forecast

The projected revenue for the Orthopedic Devices market market in Pakistan is estimated to reach US$41.02m in 2024.
It is expected to display an annual growth rate (CAGR 2024-2029) of 5.35%, leading to a market volume of US$53.25m by 2029.
When compared globally, the United States is anticipated to generate the highest revenue, amounting to US$16.02bn in 2024.
Pakistan's orthopedic device market is experiencing significant growth due to the increasing prevalence of bone and joint disorders in the country.

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 Pakistan is experiencing significant growth and development due to various factors.

Customer preferences: In Pakistan, there is a growing demand for orthopedic devices due to the increasing prevalence of orthopedic conditions and injuries. The population is becoming more aware of the benefits of orthopedic devices in improving mobility and quality of life. Additionally, there is a growing aging population in the country, which is driving the demand for orthopedic devices as age-related conditions such as osteoarthritis become more prevalent.

Trends in the market: One of the key trends in the Orthopedic Devices market in Pakistan is the increasing adoption of technologically advanced devices. There is a growing demand for devices that offer better functionality, durability, and comfort. This trend is driven by the desire of patients to improve their quality of life and regain mobility. Additionally, healthcare professionals are also increasingly opting for advanced orthopedic devices as they offer better outcomes and reduce the need for invasive surgeries. Another trend in the market is the rise of medical tourism in Pakistan. The country is becoming a popular destination for patients seeking affordable orthopedic treatments. This trend is driven by the presence of well-equipped hospitals and skilled healthcare professionals who offer high-quality orthopedic care at a lower cost compared to other countries. As a result, the demand for orthopedic devices is increasing to cater to the needs of both domestic and international patients.

Local special circumstances: Pakistan has a large population, which presents a significant market opportunity for orthopedic device manufacturers. The country has a high burden of orthopedic conditions and injuries, which creates a constant demand for orthopedic devices. Additionally, the government of Pakistan has taken initiatives to improve access to healthcare services, including orthopedic care. This has further fueled the demand for orthopedic devices in the country.

Underlying macroeconomic factors: The economic growth in Pakistan has contributed to the development of the Orthopedic Devices market. As the country's economy grows, individuals have more disposable income to spend on healthcare, including orthopedic devices. Furthermore, the government's focus on improving healthcare infrastructure and services has created a favorable environment for the growth of the Orthopedic Devices market. In conclusion, the Orthopedic Devices market in Pakistan is witnessing significant growth and development due to increasing customer preferences for advanced devices, the rise of medical tourism, the large population, and the favorable macroeconomic factors. These factors are driving the demand for orthopedic devices in the country and creating opportunities for manufacturers and healthcare providers to cater to the needs of patients.

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.