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Press Release: Orthopedic Extension Devices Market to Surpass US$ 1.1 Billion by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Orthopedic extension devices are developed for patient safety and outcomes during surgical procedures. It eases the workflow of the healthcare staff as they don’t need to hold the patient’s legs during the surgery. The devices are independent and can be used as an accessory with the operating tables. These are used in performing surgical procedures such as hip surgery, knee surgery, arm surgery, and other orthopedic surgery.
The global orthopedic extension devices market is estimated to be valued at US$ 837.4 million in 2020 and is expected to exhibit a CAGR of 4.0% over the forecast period (2020-2027).
Figure 1. Global Orthopedic Extension Devices Market Value, By Region, 2020 (US$ Mn)
The increasing cases of injuries and trauma that require surgical procedures are expected to boost the growth of the orthopedic extension devices market
The rising cases of trauma and injuries are expected to drive demand for surgical procedures and boost the growth of the orthopedic extension devices market. For instance, according to World Health Organization’s factsheet of 2018, road accidents cause around 20 to 50 million injuries every year around the world. Road traffic injuries are the leading cause of death among people in the age group of 15 and 29 years, and more than 1.25 million people die each year as a result of road traffic crashes.
The rising number of product launches by market players is expected to bolster the orthopedic extension devices market growth during the forecast period. For instance, in October 2017, Mizuho OSI, introduced the new Levó Head Positioning System for spine procedures at the North American Spine Society 2017, annual meeting held in Florida, U.S.
Figure 2. Global Orthopedic Extension Devices Market Value, 2020 & 2027 (US$ Mn)
Orthopedic Extension Devices Market - Regional Analysis
North America held the dominant position in the global orthopedic extension devices market in 2018 owing to the increasing number of surgical procedures and product launches. For instance, according to the Organisation for Economic Co-operation and Development (OECD) stats, the total hip replacement procedures in Canada were around 55,720 and 58,241 in 2016 and 2017 respectively.
Moreover, the increasing number of falls, injuries, road accidents, in addition to facility expansions by key players are expected to drive growth of the orthopedic extension devices market in Asia Pacific during the forecast period. For instance, in February 2020, Smith & Nephew, announced the construction of a manufacturing facility at Batu Kawan Industrial Park, in Penang, Malaysia. It is the company’s first manufacturing facility in South-East Asia which will be supporting orthopedics franchise and medical device manufacturing.
Key Players
Major players operating in the global orthopedic extension devices market are Allen Medical Systems Inc., Alliance Impex, Condor Medicaltechnik, DRE Medical, ImplanTec, IOT- Innovative Orthopedic Technologies, Mediland Enterprise, Merivaara, MIKAI, Mizuho OSI, NUOVA BN, OPT SurgiSystems, Schaerer Medical, Schmitz u. Soehne, Skytron, Smith & Nephew, St. Francis Medical Equipment, TECHNOMED INDIA, and TRUMPF Medizin Systeme GmBH.
Orthopedic extension devices are used as accessories with operating tables in order to support the patient’s safety and ease the workflow of surgical procedures. The increasing demand for surgical procedures such as hip surgery, knee surgery and other orthopedic surgeries is driving demand for advanced orthopedic operating tables and extension devices. These devices allow doctors to carry out a variety of procedures during the surgery.
Market Dynamics
The factors impacting growth of the orthopedic extension devices market include the rising number of accidents, bone injuries, and fractures. For instance, according to the World Health Organization’s factsheet of 2018, each year there are around 37.3 million falls which require medical attention, and an estimated 646,000 individuals die from these falls every year. According to the Global Burden of Disease report published by Lancet in 2015, road injuries are one of leading causes of disease burdens worldwide.
Moreover, companies are developing advanced technologies to improve patient handling and to improve the workflow during surgical procedures which is creating a conducive environment for growth of the orthopedic extension devices market. For instance, in January 2018, Merivaara announced the launch of the Practico operating tables range for elective procedures. The Practico Max Hi goes up to 45 inches, while the Practico Max Lo goes down to 21.3 inches, making it one of the lowest mobile tables. The tables have safety sensor which automatically stop the movement of the table when the leg section touches the base. The tables also have a simple hand control with an easy user interface and several memory positions that save the staff from unnecessary hassle.
However, high cost of products results in unaffordability to the small setup of hospitals based in developing regions which is expected to restrain the market growth over the forecast period.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section
Table of Contents
*Browse 25 market data tables and 17 figures on "Orthopedic Extension Devices Market - Global forecast to 2027”
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