The global small bone and joint orthopedic devices market will see quick growth in the near future, according to a Transparency Market Research report.
Here are eight trends:
1. The market is expected to grow at a compound annual growth rate of at an 8.1 percent from 2015 to 2023.
2. In 2014, the market was valued at $4.1 billion.
3. By 2023, the market is expected to reach a value of $8.2 billion.
4. The rising number of disabling diseases such as osteoarthritis and osteoporosis is driving market growth.
5. However, the market will be restrained by the high number of complications and surgical procedure failures.
6. In 2014, the fracture fixation and replacement systems segment was the largest segment in the global small bone and joint orthopedic devices market.
7. The segment is expected to be worth $3.23 billion by 2023.
8. Flower Orthopedics, Acumed, DePuy Synthes, Arthrex and Stryker are leading players in this market.