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North America Orthopedic Market Forecast 2017-2024

North America Orthopedic Market Forecast 2017-2024

  • April 2017
  • 80 pages
  • ID: 4825323

Summary

Table of Contents

KEY FINDINGS
The Asia Pacific orthopedic market is anticipated to grow $35321 million by 2024. The market growth is expected at the CAGR of 6.15% in the forecast period. The base year considered for the market study is 2016. Multiple cases of musculoskeletal disorders and growing geriatric population are the reason for the growth of the orthopedic market in the region.

MARKET INSIGHTS
The North America orthopedic market is segmented on the basis of procedure, ortho biologics, and geography. The North America orthopedic market by the procedure is segmented into arthroscopy, joint reconstruction, HIP, knee, shoulder reconstruction market, soft tissue replacement, spinal surgery procedure. The market by ortho biologics is further segmented into the bone graft, viscosupplementation, one-injection, three-injection, five- injection, stem cells, bone morphogenetic proteins, demineralized bone matrix, allografts and others.

The North America orthopedic market is further segmented into US, Canada, and rest of North America. Improved Implant Technologies, increasing Number of Outpatient Techniques, growing Trauma Related Injuries, Age Related Orthopedic Surgeries, increasing Demand for the Elective procedure are the major drivers driving the Orthopedics market. On the other hand, factors restricting the growth of the market are Stringent Government Policies, Post-Surgery Complications. Growing disposable income across the world is also estimated to be one of the major factors that are creating numerous expansion opportunities for the growth of the orthopedic market. Lack of orthopedic surgeons and High cost of Implants are estimated to be one of the major factors that are restricting the growth of the orthopedic market across the globe.

REGIONAL INSIGHTS
North America holds the largest market share of 43.35% in 2016 in the global orthopedic market. The driving factors responsible for the growth of North America region in the orthopedic market are rising demand for the outpatient techniques, growing elderly population in the North American region. US region is the key influencer of the North America orthopedic market. Increase in the prevalence of arthritis due to rising elderly population in the US region. In the United States, around 56% people are suffering from musculoskeletal diseases which are the largest as compared to other chronic diseases such as respiratory 29%, circulatory 32%, diabetes 14% and cancer 10%.

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