The Business Research Company’s latest report Orthopedic Devices Global Market Report 2020 covers Orthopedic Devices market drivers, Orthopedic Devices market trends, Orthopedic Devices market segments, Orthopedic Devices market growth rate, Orthopedic Devices market major players, and Orthopedic Devices market size. The report provides in-depth analysis of the impact of COVID-19 on the Orthopedic Devices industry, along with revised market numbers due to the effects of the coronavirus.
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Orthopedic Devices Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global orthopedic devices market is expected to decline from $52.7 billion in 2019 to $39.3 billion in 2020 at a compound annual growth rate (CAGR) of -25.6%. The decline is mainly due to the COVID-19 outbreak and the measures to contain it. Several medical care facilities in affected countries have been completely closed or have been only providing minimal treatment for emergency cases. The orthopedic surgeries have been postponed and, in some cases, cancelled due the nations’ lockdown. The restrictions on non-essential medical services including orthopedic services coupled with slowed production of orthopedic devices and implants due to extending factory closures in various countries is contributing to the markable decline in the market growth. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $63.6 billion in 2023.
The report covers the Orthopedic Devices market’s segments-
1) By Type: Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics, Orthopedic Accessories.
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Others.
3) By Type of Expenditure: Public, Private.
4) By Product: Instruments/Equipment, Disposables.
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