The size of the European Orthopedic Devices Market is predicted to be USD 12.66 billion in 2023 and USD 16.33 billion by 2028. The market is expected to register a CAGR of 5.22% from 2023 to 2028.
Factors like increasing the geriatric population, growing acceptance of orthopedic implants, and rising usage of these orthopedic devices in patients that make them feel comfortable are primarily propelling the market growth. Different innovations regarding the technologies in orthopedic implants, a standard increase of orthopedic injuries, and musculoskeletal diseases are driving the orthopedic devices market to some extent. FDA approvals for the new innovative devices for treating the patients and extensive usage accelerate market growth. Nearly 6.8 million people are suffering from different orthopedic injuries.
The high cost of the orthopedic devices and the orthopedic implants processes is a significant holding the market growth. In addition, lack of awareness among the patients suffering from ortho-related problems, the shortage of expert professionals, and strict regulations for the product approvals may restrict the market of orthopedic devices market to some extent.
This research report on the European Orthopedic Devices Market has been segmented and sub-segmented into the following categories.
By Anatomical Location:
By Type Of Consumable:
Regionally, the European market was the second-largest regional market globally in 2022 and accounted for a market share of 27% and is strongly driven by the rising demand for infusion pumps and drug-eluding stents. The German orthopedic devices market is the largest market shareholder in the European market. The German orthopedic devices market is expected to lead the market with the largest share for the orthopedic devices market due to growing healthcare expenditure and increasing awareness programs regarding the products.
The UK orthopedic devices market is estimated to grow at a healthy rate, followed by Germany. The growth is attributed to the growing elderly population, and increasing the occurrence rate of orthopedic diseases is likely to boost the market growth of this region over the analysis period. Also, the growing demand for infusion pumps and drug eluding systems promotes the growth of orthopedic devices.
Spain, France, and Italy are expected to influence the orthopedic devices market throughout the period.
KEY MARKET PLAYERS:
A few promising companies operating in the European orthopedic devices market profiled in the report are Medtronic, Stryker, Zimmer Inc., DePuy, Synthes, Smith & Nephew, and Biomet.
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