According to FutureWise analysis the market for small bone and joint orthopedic devices in 2023 is US$ 7.54 billion, and is expected to reach US$ 12.5 billion by 2031 at a CAGR of 6.50%.
The connections of two or more bones are referred to as joints. It is the location where bones meet and help with movement between them, as well as the bones of other joints that are joined by connective tissue or cartilage. The joints between the plates of the skull, for example, do not ordinarily move. Because road accidents often result in shoulder, foot, or ankle operations, various devices such as shoulder reconstruction devices, elbow repair devices, foot and ankle, plate and screws, and other minor bone and joint devices are available to help reconstruct the damaged body part. Diabetes mellitus is one of the most common health issues among women, which may fuel the expansion of the small bone and joint devices market. Internal fixation surgery, which entails the placement of implants to cure broken bones, frequently employs orthopaedic devices to support fractured bones. Orthopedic devices are designed to improve body posture by correcting abnormalities and restoring normal skeletal function by replacing or fortifying the damaged portion.
Furthermore, these advancements, when combined with modern diagnostic techniques, have considerably decreased the necessity for complex orthopaedic surgical treatments. Orthotics hold up or straighten weak joints or limbs, whereas orthopaedic devices are designed to prevent or manage musculoskeletal issues. These devices allow the joints to increase their range of motion, improve their look, and move without discomfort again. The rise in the frequency of osteoporosis and osteoarthritis in the senior population is predicted to accelerate the growth and demand for small bone and joint orthopaedic devices. Furthermore, over the forecast period of 2021 to 2028, an increase in the number of diabetic foot reconstruction activities, as well as an increase in the elderly population, are likely to contribute to the global market's growth. In addition, the fast acceptance of reconstructive operations and the rise in the frequency of degenerative conditions are expected to boost market growth. Furthermore, an increase in the number of orthopaedic surgeries, an increase in the obese population, and an increase in the number of incidences of traffic accidents are all projected to propel the small bone and joint orthopaedic devices market forward.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Small Bone and Joint Orthopedic Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Small Bone and Joint Orthopedic Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.