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Orthopedic Consumables Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
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Published date -30th Jan 2024
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Formats -PDF, CSV
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Region -Global
Market Size & CAGR of Orthopedic Consumables Market in 2021
The global orthopedic consumables market is expected to reach a market size of USD 5.6 billion by the end of 2021, with a compound annual growth rate (CAGR) of 4.7% during the period.
COVID-19 Impact on the Orthopedic Consumables Market
The COVID-19 pandemic had a significant impact on the orthopedic consumables market in 2021. Due to lockdowns and restrictions on elective surgeries, there was a decline in the demand for orthopedic consumables. However, with the gradual reopening of healthcare facilities, the market is expected to recover in the coming years.
Orthopedic Consumables Dynamics
The orthopedic consumables market is driven by factors such as the growing prevalence of orthopedic conditions, an aging population, and technological advancements in orthopedic devices. Additionally, increasing healthcare expenditure and the rising demand for minimally invasive procedures are contributing to the market's growth.
Segments and Related Analysis
The orthopedic consumables market can be segmented based on product type, end-user, and region. Product types include implants, prosthetics, and surgical instruments, among others. End-users of orthopedic consumables include hospitals, orthopedic clinics, and ambulatory surgical centers.
By Region Analysis
The orthopedic consumables market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share due to the presence of well-established healthcare infrastructure and the high prevalence of orthopedic conditions in the region.
Key Market Players and Competitive Landscape
Key players in the orthopedic consumables market include Johnson & Johnson, Stryker Corporation, Zimmer Biomet Holdings Inc., and Smith & Nephew plc, among others. These companies focus on product innovation, strategic partnerships, and acquisitions to gain a competitive edge in the market.
Recent Happenings in the Orthopedic Consumables Market
In recent years, there have been advancements in orthopedic consumables, such as the development of 3D-printed implants, robotic-assisted surgeries, and smart implants that monitor a patient's health post-surgery. These innovations aim to improve patient outcomes and enhance the overall quality of care in orthopedics.
