Market research analysts at Technavio predict that the global orthopedic consumables market will grow steadily at a CAGR of more than 4% by 2021. This market research analysis identifies the rising incidence of accidental injuries as one of the primary growth factors for the orthopedic consumables market.
The recent years witnessed a rise in incidents of injuries which leads to injury in the lower and upper extremity regions, fractures in the spine, and injury to soft tissues, which demand the need for orthopedic consumables. Additionally, sports injuries such as injury in the femur and carpal bones also require complex treatment procedures and are treated by using orthopedic consumables such as drill bits, saw blades, burrs, and K-wires and pins.
Orthopedic consumables market drivers
Traditional surgical procedures result in a number of post-operative complications including blood clots, fatigue, and muscle atrophy. This led to the implementation of minimally invasive (MI) procedures. Owing to their advantages such as reduced costs and hospital stay, lower risks of post-operation infections, rapid results, faster recovery period, and reduced discomfort and pain, there is a growing preference for MI procedures for orthopedic surgeries as well, which will, in turn, fuel the growth of the orthopedic consumables market.
Orthopedic consumables market opportunity for key vendors
Owing to the presence of several companies, the competitive environment among the players in the orthopedic consumables market is quite intense. The vendors mainly compete based on factors such as aggressive pricing, product differentiation, capital support for product or technology upgrading, and distribution partnerships. Partnerships with group purchasing organizations (GPOs) and the acquisition of smaller companies are some of the strategies followed by the vendors to enhance their product portfolios and increase market shares.
The leading vendors in the orthopedic consumables market
Orthopedic consumables market segmentation by product type
Surgical orthopedic consumables
Wound-management orthopedic consumables
During 2016, the surgical orthopedic consumables segment accounted for the major shares of the orthopedic consumables market. The rising demand for accessories that are used for trauma and constructive services such as shoulder replacement, elbow and wrist reconstruction, and craniomaxillofacial surgeries will be the major factor fueling the market’s growth in this segment.
Orthopedic consumables market size based on end-user segmentation
Hospitals and clinics
Ambulatory surgical centers (ASCs)
During 2016, the hospitals and clinics segment accounted for the major shares and dominated the orthopedic consumables market. Hospitals increasingly focus on improving their efficiency by adopting advanced devices for orthopedic disorders and trauma. This induces vendors to focus on delivering high-quality products to hospitals, which will help them improve the quality of the brand and increase their market reach.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global orthopedic consumables market?
What are the key market trends impacting the growth of the global orthopedic consumables market?
What are the challenges to market growth?
Who are the key vendors in the global orthopedic consumables market?
What are the market opportunities and threats faced by the vendors in the global orthopedic consumables market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global orthopedic consumables market?
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