Orthopedic procedures pertain to conditions of the musculoskeletal system. These procedures usually focus on diagnosis, prevention, and treatment of skeletal disorders, such as, conditions of bones, joints, muscles, tendons, and skin. Growth in geriatric population, increased incidences of spinal infection, growth in outpatient techniques, technological advancements, and rise in awareness are the factors primarily driving the growth of the global orthopedic procedures market. However, post-surgery complications associated with orthopedic procedures and stringent government policies and regulations can act major restraints of the global orthopedic procedures market. The recent trend in orthopedic procedures is the touch surgery, which allows surgeons to practice surgery in a virtual operation room on a virtual patient, with the aim of improving access to high-quality surgical care globally.
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The global orthopedic procedures market can be segmented based on procedure, end-user, and region. Based on procedure, the market can be divided into arthroscopy, joint reconstruction, soft tissue replacement, spinal surgery procedure, and orthobiologics. Arthroscopy is a surgical procedure used for diagnosis and treatment of damaged joints. It is a minimally invasive procedure involving small incisions. Joint reconstruction involves replacement of partial or total joint with artificial joint. It is usually preferred for relieving pain with associated with certain chronic conditions like arthritis or restore joints after traumatic injury. Soft tissue replacement involves blood interfacing implants, such as, artificial hearts, blood vessel implants, heat valves, etc. and non-blood interfacing implants including, fluid transfer implants, ear implants, sutures, etc. Spinal surgery procedures are used to treat problems associated with spinal vertebrae. These are usually preferred for factures, degenerative disk diseases, or spinal infections. Orthobiologics are the substances used for accelerating the healing of injured ligaments, muscles, and fractured bones. Orthobiologics include bone crafts, stem cells, artificial matrix materials, allografts, etc. The spinal surgery procedure segment dominated the global orthopedic procedures market in 2017 due to increase in incidence of spinal injuries and back disorders across the world. The segment is expected to retain its leading position in terms of market share during the forecast period. In terms of end-user, the global orthopedic procedures market can be divided into hospitals, orthopedic clinics, and ambulatory surgical centers. The hospitals segment dominated the global market in 2017 and is expected to lead the market during the forecast period.
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In terms of region, the global orthopedic procedures market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a significant share of the global market during the forecast period. Growth in geriatric population, rise in incidence of spinal infections, increase in spinal surgeries, and surge in incidence of back disorders are the major factors likely to drive the orthopedic procedures market in the region during the forecast period. The orthopedic procedures market in Asia Pacific is expected to grow at a significant CAGR during the forecast period. Surge in awareness regarding surgical procedures and growth in geriatric population are likely to drive the market in the region from 2018 to 2026.
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Key players operating in the global orthopedic procedures market are Stryker, Zimmer Biomet, Johnson & Johnson Services, Inc., Globus Medical Inc., Amedica Corporation, Exactech, Inc., CONMED Corporation, NuVasive Inc., Olympus Optical Co. Ltd. Smith & Nephew Healthcare Pvt. Ltd., Medtronic, and aap Implantate AG.
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