Orthopedic Devices - Ukraine | Statista Market Forecast

The Orthopedic Devices market market in Ukraine is anticipated to witness a substantial growth in revenue, projected to reach US$78.41m by 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 4.93%, ultimately resulting in a market volume of US$99.74m by 2029.
When comparing in Ukraine to global markets, the United States is expected to generate the highest revenue, amounting to US$16.02bn in 2024.
Ukraine's orthopedic device market is experiencing a surge in demand due to an aging population and an increase in sports-related injuries.

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 Ukraine has been witnessing steady growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Orthopedic Devices market in Ukraine 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 growing demand for technologically advanced implants, prosthetics, and orthopedic instruments. Additionally, there is a rising preference for minimally invasive surgical procedures, which require specialized orthopedic devices. The aging population in Ukraine is also driving the demand for orthopedic devices, as elderly individuals are more prone to orthopedic conditions and require assistive devices to maintain mobility and independence. Trends in the market indicate a growing adoption of 3D printing technology in the production of orthopedic devices. 3D printing allows for the customization of implants and prosthetics, resulting in better patient outcomes. This technology also enables faster production and reduces the cost of orthopedic devices. Another trend in the market is the increasing use of robotics in orthopedic surgeries. Robotic-assisted surgeries offer greater precision and accuracy, leading to improved surgical outcomes. The adoption of robotics in orthopedic surgeries is expected to further drive the demand for specialized orthopedic devices. Local special circumstances in Ukraine also play a role in the development of the Orthopedic Devices market. The country has a high prevalence of orthopedic conditions, such as osteoarthritis and fractures, which contribute to the demand for orthopedic devices. Additionally, the healthcare infrastructure in Ukraine is undergoing modernization, with increased investments in healthcare facilities and equipment. This creates opportunities for the growth of the Orthopedic Devices market, as healthcare providers look to upgrade their orthopedic devices and equipment. Underlying macroeconomic factors, such as economic growth and government healthcare initiatives, also contribute to the development of the Orthopedic Devices market in Ukraine. Economic growth leads to increased disposable income, allowing individuals to afford orthopedic devices. The government's focus on improving healthcare services and accessibility further supports the growth of the Orthopedic Devices market. Additionally, the increasing awareness about the benefits of orthopedic devices and the availability of health insurance coverage for orthopedic procedures drive the demand for orthopedic devices in Ukraine. In conclusion, the Orthopedic Devices market in Ukraine is developing due to customer preferences for advanced and innovative products, trends such as 3D printing and robotics, local special circumstances including a high prevalence of orthopedic conditions and healthcare infrastructure modernization, and underlying macroeconomic factors such as economic growth and government healthcare initiatives. These factors are expected to continue driving the growth of the Orthopedic Devices market in Ukraine in the coming years.

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.