The Global Orthopedics Market
Between 2022 and 2030, the global orthopedic devices market size is expected to expand at a compound annual growth rate (CAGR) of 3.1%. The 2021 orthopedics market was valued at USD 40.9 billion. Because musculoskeletal disorders affect about 1.71 billion people worldwide, this fuels the rise in market growth in the orthopedic sector.
In North America, the orthopedic devices market posed the highest revenue share boasting 46% in 2021.
Market growth expects to come from an aging population, the higher incidence of road accidents, more obesity, and sedentary lifestyles causing a higher incidence of orthopedic disorders.
Other boosts to the market come from manufacturers developing R&D to create innovative medical devices that address musculoskeletal issues. These advancements are good for patients who seek faster recovery and less long-term stress and also the orthopedic surgeons who operate on the patients.