Outsourced Orthopedic Manufacturing Market by Product and Geography - Forecast and Analysis 2020-2024

The outsourced orthopedic manufacturing market share is expected to increase by USD 2.31 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 7%.

This outsourced orthopedic manufacturing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers outsourced orthopedic manufacturing market segmentation by product (implants, instruments, and cases and trays) and geography (North America, Europe, ASIA, South America, and ROW). The outsourced orthopedic manufacturing market report also offers information on several market vendors, including Autocam Medical, Avalign Technologies Inc., In'Tech Medical SAS, Jabil Inc., LISI Group, Marle Group, NN Inc., Orchid MPS Holdings LLC, Tecomet Inc., and Viant among others.

What will the Outsourced Orthopedic Manufacturing Market Size be During the Forecast Period?

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Outsourced Orthopedic Manufacturing Market: Key Drivers and Trends

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The rising prevalence of orthopedic disorders is notably driving the outsourced orthopedic manufacturing market growth, although factors such as the high cost involved may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the outsourced orthopedic manufacturing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Outsourced Orthopedic Manufacturing Market Driver

One of the key factors driving growth in the outsourced orthopedic manufacturing market is the rising prevalence of orthopedic disorders. The rising prevalence of orthopedic indications, such as osteoarthritis, scoliosis, orthopedic fractures, spinal deformities, osteoporosis, degenerative disc, and tendon injuries, is increasing the demand for orthopedic medical devices such as implants, instruments, cases, and trays. Orthopedic fractures are common among the geriatric population. Moreover, the prevalence of orthopedic diseases such as osteoporosis, osteoarthritis, and rheumatoid arthritis is on the rise. The prevalence of hip fracture, wrist fracture, and vertebral fracture is expected to increase during the forecast period, owing to the increasing geriatric population and the high prevalence of osteoporosis. The rising prevalence of such orthopedic indications among the pediatric as well as the geriatric population will increase the demand for orthopedic medical devices, which will further drive the growth of the global outsourced orthopedic manufacturing market.

Key Outsourced Orthopedic Manufacturing Market Challenge

The high implant prices coupled with decreasing reimbursement will be a major challenge for the outsourced orthopedic manufacturing market during the forecast period. The high cost of orthopedic implants and related procedures is restricting their widespread adoption in several developed as well as developing countries. The cost of orthopedic procedures can significantly increase depending on the type of implant used, surgery extent, surgeon skill and experience, hospital costs, special tests, insurance coverage, and medications required. The cost of orthopedic surgeries varies according to the procedure. The high cost of orthopedic implants can increase the cost burden on patients, which, in turn, will adversely impact their adoption rate.

This outsourced orthopedic manufacturing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Who are the Major Outsourced Orthopedic Manufacturing Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Autocam Medical
• Avalign Technologies Inc.
• In'Tech Medical SAS
• Jabil Inc.
• LISI Group
• Marle Group
• NN Inc.
• Orchid MPS Holdings LLC
• Tecomet Inc.
• Viant

 

This statistical study of the outsourced orthopedic manufacturing market encompasses successful business strategies deployed by the key vendors. The outsourced orthopedic manufacturing market is fragmented and the vendors are deploying growth strategies such as increasing investments in R&D to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The outsourced orthopedic manufacturing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Outsourced Orthopedic Manufacturing Market?

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46% of the market's growth will originate from North America during the forecast period. The US is the key market for outsourced orthopedic manufacturing in North America. Market growth in this region will be faster than the growth of the market in other regions.

The presence of key vendors and the increasing prevalence of orthopedic indications due to the rising obesity and geriatric population in the region will facilitate the outsourced orthopedic manufacturing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Outsourced Orthopedic Manufacturing Market?

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The outsourced orthopedic manufacturing market share growth by the implants segment will be significant during the forecast period. This segment held the largest market share in 2019 and is expected to demonstrate the fastest growth during the forecast period. Factors such as the high prevalence of orthopedic diseases such as osteoarthritis and osteoporosis, growing geriatric population, and advances in surgical procedures are driving the growth of this segment.

This report provides an accurate prediction of the contribution of all the segments to the growth of the outsourced orthopedic manufacturing market size and actionable market insights on post COVID-19 impact on each segment.

 

Outsourced Orthopedic Manufacturing Market Scope
Report Coverage	Details
Page number	120
Base year	2019
Forecast period	2020-2024
Growth momentum & CAGR	Accelerate at a CAGR of 7%
Market growth 2020-2024	$ 2.31 billion
Market structure	Fragmented
YoY growth (%)	6.64
Regional analysis	North America, Europe, Asia, and ROW
Performing market contribution	North America at 46%
Key consumer countries	The US
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Autocam Medical, Avalign Technologies Inc., In'Tech Medical SAS, Jabil Inc., LISI Group, Marle Group, NN Inc., Orchid MPS Holdings LLC, Tecomet Inc., and Viant
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Outsourced Orthopedic Manufacturing Market Report?

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will drive outsourced orthopedic manufacturing market growth during the next five years
• Precise estimation of the outsourced orthopedic manufacturing market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the outsourced orthopedic manufacturing industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of outsourced orthopedic manufacturing market vendors

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