According to the research report titled ‘North America Orthopedic Devices Market Forecast 2027 By Product, Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, North America orthopedic devices market is expected to surpass USD 29.2 billion in valuation by the year 2027.
 

Rising number of knee replacement surgeries, growing demand for non-invasive treatment options, and technological breakthroughs are some of the major factors driving the growth of North America orthopedic devices market.

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Several market majors have been focusing on R&D activities in order to develop advanced technologies to produce novel ankle, knee, hip, and shoulder implants. In addition to this, these companies intend to lower post-surgery complications by allowing surgeons to place these devices using non-invasive techniques, which in turn is stimulating the overall industry outlook.

Based on product landscape, the report cites that North America orthopedic devices industry size from joint reconstruction devices segment is predicted to expand at 4.4% CAGR through 2027. Such implants are known to effectively decrease stiffness in the joints among patients with arthritis, thus fueling the segmental share.

Meanwhile, the spinal devices segment captured 19% market share in the year 2020. Spinal orthopedic devices offer various benefits such as improving spine strength, creating a fusion between two vertebrae, and correcting any deformities. This in tandem with growing occurrence of degenerative disc disease is augmenting the demand for spinal orthopedic devices in North America.

From the geographical point of view, orthopedic devices market share in Canada is reckoned to witness a y-o-y growth rate of 4.8% through 2027. Rising prevalence of orthopedic disorders, improving healthcare infrastructure, and surging government investments are facilitating the overall business scenario. Growing elderly population and rising emphasis among leading companies to develop advanced orthopedic devices is also favoring the overall market outlook in Canada.

The prominent companies operating in North America orthopedic devices market are Zimmer Biomet, Waldemar Link GmbH & Co. KG, TriMed Inc., Stryker Corp., Smith & Nephew plc, NuVasive Inc., Microport Scientific Corporation, Medtronic plc, Medacta USA Inc., Integra LifeSciences, Globus Medical Inc., DJO Global Inc., DePuy Synthes, CONMED Corporation, Conformis Inc., B. Braun Melsungen AG, Arthrex, Alphatec Spine Inc., and aap Implantate AG.