Orthopedic Devices - Zimbabwe | Statista Market Forecast

The Orthopedic Devices market market in Zimbabwe is forecasted to achieve a revenue of US$5.56m by the year 2024.
It is expected that this revenue will display an annual growth rate (CAGR 2024-2029) of -0.51%, leading to a market volume of US$5.42m by 2029.
When compared on a global scale, the United States is anticipated to generate the highest revenue of US$16.02bn in 2024.
In Zimbabwe, the demand for orthopedic devices is on the rise 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 Zimbabwe is experiencing steady growth due to increasing customer preferences for advanced medical devices, favorable market trends, and local special circumstances.

Customer preferences: Customers in Zimbabwe are increasingly seeking advanced orthopedic devices that offer better functionality and improved patient outcomes. They prefer devices that are durable, lightweight, and easy to use. Additionally, there is a growing demand for minimally invasive orthopedic procedures, which require specialized devices.

Trends in the market: One of the key trends in the Orthopedic Devices market in Zimbabwe is the adoption of innovative technologies. Advanced materials, such as titanium and bioabsorbable polymers, are being used to manufacture orthopedic devices, making them more durable and biocompatible. Furthermore, the market is witnessing a shift towards personalized orthopedic solutions, with the development of custom-made implants and 3D printing technology. These trends are driven by the need to improve patient outcomes and reduce healthcare costs.

Local special circumstances: Zimbabwe has a high prevalence of orthopedic conditions, such as osteoarthritis and fractures, due to factors like an aging population and a high incidence of road accidents. This creates a significant demand for orthopedic devices in the country. Additionally, the government of Zimbabwe has been investing in healthcare infrastructure and services, which has contributed to the growth of the Orthopedic Devices market.

Underlying macroeconomic factors: The growth of the Orthopedic Devices market in Zimbabwe is also influenced by underlying macroeconomic factors. The country has been experiencing economic stability in recent years, with a steady GDP growth rate. This has led to increased healthcare spending and improved access to healthcare services. Additionally, the government has implemented policies to attract foreign investment in the healthcare sector, which has further fueled the growth of the market. In conclusion, the Orthopedic Devices market in Zimbabwe is witnessing steady growth due to customer preferences for advanced medical devices, favorable market trends, and local special circumstances. The adoption of innovative technologies, such as advanced materials and personalized orthopedic solutions, is driving the market forward. Furthermore, the high prevalence of orthopedic conditions in Zimbabwe and government investments in healthcare infrastructure are contributing to the growth 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.