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.
Notes: Data shown is using current exchange rates and reflects market impacts of the Russia-Ukraine war.
Most recent update: Aug 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Mar 2024
Most recent update: Mar 2024
Source: Statista Market Insights
The Orthopedic Devices market in United States is experiencing significant growth and development.
Customer preferences: Customers in the United States have shown a strong preference for technologically advanced orthopedic devices. They are increasingly seeking devices that are more durable, efficient, and provide better patient outcomes. Additionally, there is a growing demand for minimally invasive procedures, which has led to an increased adoption of arthroscopy and other advanced surgical techniques.
Trends in the market: One major trend in the Orthopedic Devices market in United States is the increasing prevalence of chronic diseases such as osteoarthritis and osteoporosis. As the population ages, the incidence of these conditions is expected to rise, driving the demand for orthopedic devices. Furthermore, the rising number of sports-related injuries and accidents has also contributed to the growth of the market. Another trend is the continuous innovation in the field of orthopedic devices. Manufacturers are investing heavily in research and development to introduce new and improved products. This includes the development of bioresorbable implants, 3D-printed devices, and smart implants that can monitor patient progress and provide real-time data to healthcare providers. These advancements are not only improving patient outcomes but also reducing the overall cost of treatment.
Local special circumstances: The United States has a well-developed healthcare infrastructure and a high level of healthcare expenditure. This has facilitated the adoption of advanced orthopedic devices in the country. Additionally, the presence of a large number of orthopedic clinics, hospitals, and specialized healthcare providers has created a favorable environment for the growth of the market.
Underlying macroeconomic factors: The strong economy of the United States has played a significant role in the growth of the Orthopedic Devices market. With a high disposable income and a favorable reimbursement scenario, patients in the country are more willing to invest in advanced orthopedic devices and procedures. Moreover, the increasing healthcare expenditure and favorable government policies have further supported the growth of the market. In conclusion, the Orthopedic Devices market in United States is witnessing significant growth due to customer preferences for technologically advanced devices, the increasing prevalence of chronic diseases, and continuous innovation in the field. The well-developed healthcare infrastructure, strong economy, and favorable reimbursement scenario in the country have also contributed to the growth of the market.
Most recent update: Aug 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights