Orthopedic Devices - Switzerland | Statista Market Forecast

The projected revenue in the Orthopedic Devices market market in Switzerland is estimated to reach US$441.80m by the year 2024.
It is expected that the revenue will exhibit an annual growth rate of 3.08% (CAGR 2024-2029), leading to a market volume of US$514.00m by 2029.
In terms of global comparison, the United States is anticipated to generate the highest revenue, amounting to US$16.02bn in 2024.
Switzerland, known for its precision engineering, is at the forefront of orthopedic device innovation in the medical technology market.

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 Switzerland is experiencing steady growth due to several factors.

Customer preferences: Swiss customers have a high demand for orthopedic devices, driven by the country's aging population and increasing prevalence of chronic diseases such as osteoarthritis and osteoporosis. The population is becoming more health-conscious and is actively seeking solutions to improve their quality of life. Swiss customers also value quality and precision, and are willing to pay a premium for orthopedic devices that are durable, reliable, and provide optimal support and comfort.

Trends in the market: One of the key trends in the Orthopedic Devices market in Switzerland is the increasing adoption of minimally invasive procedures. Swiss customers prefer procedures that minimize trauma, reduce recovery time, and provide better outcomes. This trend is driving the demand for orthopedic devices such as arthroscopy implants, joint replacement systems, and spinal fusion devices that enable minimally invasive surgeries. Another trend in the market is the growing use of advanced technologies in orthopedic devices. Swiss customers are embracing innovations such as 3D printing, robotics, and digital imaging, which are revolutionizing the design, production, and customization of orthopedic devices. These technologies allow for greater precision, personalization, and efficiency, resulting in improved patient outcomes.

Local special circumstances: Switzerland is known for its high-quality healthcare system and advanced medical infrastructure. The country has a strong network of hospitals, clinics, and research institutions that contribute to the development and adoption of innovative orthopedic devices. Swiss orthopedic device manufacturers benefit from this supportive ecosystem, which enables them to collaborate with healthcare professionals and researchers to develop cutting-edge solutions. Furthermore, Switzerland has a reputation for precision engineering and manufacturing. This expertise extends to the production of orthopedic devices, where Swiss manufacturers are renowned for their craftsmanship, attention to detail, and quality control. This reputation gives Swiss orthopedic device manufacturers a competitive edge in both domestic and international markets.

Underlying macroeconomic factors: Switzerland has a stable economy and a high standard of living, which enables its residents to afford premium healthcare services and products. The country also has a well-established health insurance system that covers the cost of orthopedic devices, making them more accessible to a wider population. Additionally, Switzerland has a strong focus on research and development. The government invests heavily in scientific research and innovation, which benefits the orthopedic devices market by fostering the development of new technologies and products. This commitment to research and development ensures that Swiss orthopedic device manufacturers remain at the forefront of innovation and are able to meet the evolving needs of customers. In conclusion, the Orthopedic Devices market in Switzerland is growing steadily due to the aging population, increasing prevalence of chronic diseases, and customer preferences for quality and precision. The market is characterized by the adoption of minimally invasive procedures and advanced technologies, as well as the country's supportive healthcare ecosystem and reputation for precision engineering. These factors, combined with Switzerland's stable economy and focus on research and development, contribute to the continued growth and success of the Orthopedic Devices market in Switzerland.

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.