Global Orthopedic Extension Devices Market, by Product Type (Hip Surgery, Knee Surgery, Spine Surgery, Arm Surgery, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
The increasing incidence of trauma injuries is expected to drive the growth of the global orthopedic extension devices market. According to the U.S. American Association for the Surgery of Trauma, around 3 million non-fatal injuries occur each year in the U.S, which lead to over 150,000 deaths.
Advancement in technology and product launches by market payers for addressing the demand for advanced quality medical devices from hospitals is expected to drive the market growth during the forecast period. For instance, in January 2017, Hill-Rom announced the launch of TruSystem 3000 Mobile Operating Table, and expanded its Surgical Solutions product portfolio. The table has ergonomic handling and comes with additional attachable components such as head sections, leg sections, arm supports, and anesthesia frames.
Browse 25 Market Data Tables and 17 Figures spread through 175 Pages and in-depth TOC on ‘Orthopedic Extension Devices Market, by Product Type (Hip Surgery, Knee Surgery, Spine Surgery, Arm Surgery, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027’
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North America is expected to hold dominant position in the orthopedic extension devices market during the forecast period owing to a rising number bone fractures, joint injuries, as well as growth of the geriatric population which is prone to orthopedic diseases. According to the U.S. Census Bureau, 2015, geriatric population (aged 65 years and above) is expected to increase over 60% between 2015 and 2030. According to the United Nations data, in 2015, around 901 million people were over 60 years of age and this number is expected to reach 1.4 billion by 2030 and 2.1 billion by 2050, globally. This population group is highly susceptible to different types of age-related diseases such as diabetes, renal insufficiency and arthritis, metabolic change, organ failures, and orthopedic diseases.
Key Takeaways of the Orthopedic Extension Devices Market: