The Global Orthopedic Extension Devices Market held USD 837.4 million in 2020 and is to grow with a CAGR of 3.8% from 2020-2030. Orthopedic extension devices are designed for patient safety and outcomes during surgical procedures. This helps the health workers productivity as they don’t have to hold the patient’s hands during the operation. The machines are self-contained and may be used as a functioning tables extension. They are seen in medicine, such as shoulder, leg, arm reconstruction and other orthopedic procedures.
Market Dynamics and Factors:
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Orthopedic extension devices market growth is attributed to increasing numbers of accidents and accident incidents, medical techniques, technical advances, and the increasing focus over development initiatives such as acquisitions, partnerships and product releases by market leaders. Increased incidence of falls and bone injuries is expected to increase market growth during the forecast period. For example, according to the World Health Organization ‘s 2018 fact sheet, there are approximately 37.3 million falls every year that require medical attention, while an estimated 646,000 people die every year from falls. Growing amount of drug approvals by regulatory agencies’ and product releases are anticipated to fuel business development. For example, in May 2019, Getinge announced the launch of Maquet Yuno II, a surgical table to support advanced orthopedic techniques and to reduce the complexity of the treatment of trauma surgery and neurosurgery in the United States.
Market Segmentation:
Based on the type, the orthopedic extension devices industry is segmented into arm surgery, hip surgery, spine surgery, knee surgery, and others. On the basis of end-user, the orthopedic extension devices market trends vary into hospitals, clinics, home settings and ambulatory surgical centers. Geographical breakdown and analysis of each of the orthopedic extension devices demand includes regions comprising Asia-Pacific, Europe, North America, and RoW.
Geographic Analysis:
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North America dominates the orthopedic extension devices market share with the large demand owing to increasing number of surgical practices and product launches. The region is also a hub of advanced healthcare infrastructure and the growing expenditure of government on rapid development of novel disease controlling drugs is further fueling the growth of global orthopedic extension devices market. Asia Pacific is witnessing fastest growth rate and expected to dominate in the future. Increasing number of falls, serious injuries, road accidents, coupled with facility expansions by leading players are probable to drive growth of the orthopedic extension devices market.
Competitive Scenario:
Key orthopedic extension device market companies concentrate on pursuing growth approaches such as product releases, alliances and acquisitions to expand their product offerings in the future sector, which is projected to fuel business development. For example, in January 2018, at the Arab Health 2018 in Dubai International Convention and Exhibition Centre, Trilux Medical and Mizuho OSI exhibited their range of surgical suite solutions, including ProAxis surgical table for surgical positioning.
Some of the key players involved in the orthopedic extension devices market include ImplanTec, Condor Medicaltechnik, Merivaara, Alliance Impex, Mediland Enterprise, Smith & Nephew, Allen Medical Systems Inc., St. Francis Medical Equipment, Innovative Orthopedic Technologies, Schaerer Medical, MIKAI, Mizuho OSI, NUOVA BN, OPT SurgiSystems, DRE Medical, Schmitz u. Soehne, Skytron, Technomed India.
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