According to a research report titled ‘ Global Small Bone and Joint Orthopedic Devices Market Size study, by Type (Reconstruction Devices and Fixation Devices ), By Application (Hospitals, Clinics and ASCs ) and Regional Forecasts 2020-2027’, available with Market Study Report, global small bone and joint orthopedic devices market was valued at USD 5.80 billion in 2019, and is anticipated to record 6.30% CAGR during 2020-2027, amassing USD 9.50 billion by the end of forecast period.
 

As per report findings, rising geriatric population, increasing cases of osteoarthritis, and development of advanced technology equipment are stimulating global small bone and joint orthopedic devices market expansion.
 

The Russian Association on Osteoporosis (RAO) reported that over 3.8 million individuals are diagnosed with osteoporosis every year in Russia, thus accelerating demand for these devices as they help to improve joint mobility and appearance.
 

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For the unversed, small bone and joint orthopedic devices are primarily used for treatment of damaged articular cartilage, which hinders gliding bone movements. These devices are mainly used in orthopedic surgeries to replace bone structure lining of joints with new elements such as support devices or fixation.
 

However, tightening regulatory standards regarding product quality and patient safety are expected to hamper the growth of worldwide small bone and joint orthopedic devices industry in the ensuing years.
 

Based on type, global small bone and joint orthopedic devices market is classified into fixation devices, and reconstruction devices. By application ambit, the industry is arrayed into clinics, hospitals, and ASCs.
 

On the regional front, North America currently holds the largest market share, owing to rising obesity as well as popularity of orthopedic procedures in the region. Moreover, rapid adoption of advanced technology, along with increasing health expenditure are also boosting revenues in North American market.
 

However, Asia Pacific small bone and joint orthopedic devices market size is projected to record the highest CAGR over the study duration. Furthermore, the report also analyses other regional contributors like Europe, and Latin America.
 

Key contenders in global small bone and joint orthopedic devices market are Nutek Orthopedics LLC, Stryker Corporation, OsteoMed LP, Zimmer Biomet, Ceraver GmbH, Johnson & Johnson, Arthrex Inc., Acumed LLC, Flower Orthopedics Corp., and Smith & Nephew plc.