The Latest Orthopedic Industry Statistics Explained
The global orthopedic device market size was valued at USD 36.1 billion in 2019 and is projected to expand at a CAGR of 3.0% over the forecast period.
The statistic indicates that the global orthopedic device market was valued at USD 36.1 billion in 2019 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.0% over the forecast period. This suggests that the market for orthopedic devices is anticipated to increase in value steadily at a rate of 3.0% annually. The projected expansion reflects ongoing advancements in orthopedic technology, increasing aging populations worldwide, and rising incidences of musculoskeletal disorders driving the demand for orthopedic devices. Overall, this statistic highlights a positive outlook for the orthopedic device industry, with opportunities for growth and innovation in the coming years.
Around 4.4 million Americans had an artificial knee because of orthopedic procedures by 2010.
The statistic that around 4.4 million Americans had an artificial knee because of orthopedic procedures by 2010 signifies a significant prevalence of knee replacement surgeries in the United States during that time period. This data highlights the widespread occurrence of orthopedic issues leading to the need for artificial knee implants among the American population. The statistic underscores the substantial impact of orthopedic procedures on individuals’ quality of life and mobility, as well as the corresponding demand for medical interventions such as knee replacements to alleviate pain and improve functionality. Furthermore, understanding the prevalence of artificial knee implants can inform healthcare providers, policymakers, and researchers in addressing the growing need for effective orthopedic interventions and improving care outcomes for individuals with knee-related conditions.
The market for orthopedic biomaterials is expected to reach USD 26.5 billion by 2026.
The statistic indicates that the market for orthopedic biomaterials, which are materials used in orthopedic surgeries to support and repair damaged tissues or bones, is projected to grow significantly and reach a value of USD 26.5 billion by the year 2026. This growth forecast suggests a rising demand for orthopedic biomaterials due to factors such as an aging population, an increase in musculoskeletal disorders, technological advancements in the field of orthopedics, and a higher prevalence of sports-related injuries. The substantial market value also reflects the importance and widespread use of orthopedic biomaterials in various medical procedures aimed at improving the quality of life for individuals with orthopedic conditions.
There were about 15,877 orthopedic surgeons operating in the United States in 2018.
The statistic “There were about 15,877 orthopedic surgeons operating in the United States in 2018” represents the estimated total number of orthopedic surgeons actively practicing and performing surgeries in the United States during the year 2018. Orthopedic surgeons specialize in the treatment of musculoskeletal conditions, including bones, joints, ligaments, tendons, and muscles. This figure highlights the significant presence of orthopedic surgeons in the healthcare workforce, indicating the demand for their specialized services to address a wide range of orthopedic issues in the population. The data serves as a crucial indicator for healthcare planning and resource allocation to ensure adequate access to orthopedic care for patients across the country.
North America dominated the orthopedics market with a share of 51.8% in 2019.
The statistic “North America dominated the orthopedics market with a share of 51.8% in 2019” indicates that North America held the largest portion of the orthopedics market compared to other regions in 2019. This means that over half of the total orthopedics market revenue or sales came from North America during that year. This could be attributed to factors such as a high demand for orthopedic products and services in the region, advancements in orthopedic technologies and treatments, strong healthcare infrastructure, and a higher level of healthcare spending compared to other regions. This statistic highlights the significance of the North American market in the orthopedics industry and suggests potential opportunities for growth and investment in the region.
The extremities (upper and lower extremities) product segment dominated the market with a share of 24.4% in 2019.
This statistic indicates that among all the different product segments in the market, the extremities, which include both the upper and lower extremities such as arms, hands, legs, and feet, had the highest market share of 24.4% in 2019. This suggests that products focused on extremity conditions or treatments were in high demand and generated significant revenue in the market during that year. The dominance of the extremities segment implies that there may have been a greater prevalence of injuries, disorders, or medical conditions affecting the extremities, leading to a higher need for related products and services within the healthcare industry.
It is estimated that 53.4% of the orthopedics market revenue comes from hospitals.
The statistic indicates that approximately 53.4% of the total revenue in the orthopedics market is derived from sales to hospitals. This suggests that hospitals play a significant role in driving the demand for orthopedic products and services. The high percentage of revenue from hospitals underscores the importance of this market segment for orthopedic companies and highlights the need for them to focus on establishing strong relationships with hospitals and providing products and services that meet the specific needs of these healthcare institutions. Understanding the distribution of revenue sources within the orthopedics market can help businesses tailor their strategies to effectively target and serve their primary customer base.
The Orthopedic Biomaterials Market is expected to grow at a compound annual growth rate of 10.2% to reach USD 14.7 billion by 2025.
This statistic indicates that the Orthopedic Biomaterials Market is projected to see significant growth over the forecasted period, with a compound annual growth rate (CAGR) of 10.2%. This growth rate suggests a strong upward trajectory in the market size and demand for orthopedic biomaterials over the coming years. By 2025, the market is expected to reach a value of USD 14.7 billion, signifying a substantial increase from the current market size. This growth is likely driven by factors such as technological advancements in the field of orthopedics, increasing prevalence of orthopedic conditions, and a growing aging population in many parts of the world.
About 30.6% of orthopedic surgeons in the U.S are above 60 years old.
The statistic that about 30.6% of orthopedic surgeons in the U.S are above 60 years old indicates that a significant portion of the orthopedic surgery workforce in the country is approaching retirement age. This statistic suggests that there may be a potential shortage of experienced orthopedic surgeons in the near future as a substantial proportion of the current workforce transitions into retirement. This could have implications for healthcare delivery and access to orthopedic services, as younger surgeons may need to fill the gap left by retiring practitioners. Additionally, it highlights the need for workforce planning and strategies to attract and retain orthopedic surgeons to ensure continued quality care for patients in need of orthopedic services.
Trauma and orthopedics are the 9th largest of the 29 surgical specialties in Australia in 2017, with 563 accredited surgeons.
In 2017, trauma and orthopedics was the 9th largest surgical specialty out of a total of 29 in Australia, with 563 accredited surgeons practicing in this field. This statistic indicates that there was a significant presence of trauma and orthopedic surgeons within the surgical landscape of Australia, ranking it among the top ten specialties in terms of surgeon numbers. The fact that there were 563 accredited surgeons highlights the importance and demand for expertise in this particular area of surgery within the Australian healthcare system. This information provides insight into the distribution and prominence of trauma and orthopedics as a surgical specialty in Australia in 2017.
The number of hip arthroplasty procedures in France increased by 57.7% from 2008 to 2016
The statistic indicates that the number of hip arthroplasty procedures performed in France experienced a significant 57.7% increase over the span of eight years, specifically from 2008 to 2016. This substantial rise implies a growing demand for hip replacement surgeries within the country during this time period. Factors contributing to this increase could include an aging population, improvements in surgical techniques, greater awareness of the benefits of hip arthroplasty, and possibly changes in healthcare policies or funding that facilitated access to these procedures. Monitoring and analyzing trends in the number of hip arthroplasty surgeries can provide valuable insights into the healthcare needs and demographic shifts within a population.
The average height of spinal rods used for adolescent idiopathic scoliosis correction is approximately 380.54 mm.
The statistic indicates that the average height of spinal rods utilized for correcting adolescent idiopathic scoliosis is around 380.54 mm. This suggests that most spinal rods used in this context are approximately 38.05 cm long. This measurement is crucial in spinal surgeries aimed at correcting the curvature of the spine in adolescents with idiopathic scoliosis. By knowing the average height of the spinal rods, medical professionals can ensure they have suitable equipment available during surgical procedures to address the specific needs of each patient. Having this statistical information helps optimize treatment outcomes and contributes to the overall success of scoliosis correction procedures in adolescent patients.
The success rate of spinal fusion surgery for patients with degenerative disc disease is between 70%-95%.
This statistic indicates that the success rate of spinal fusion surgery for patients with degenerative disc disease falls within a range of 70% to 95%. This means that approximately 70 to 95 out of every 100 patients who undergo this surgery experience positive outcomes in terms of reduced pain and improved function. The wide range in success rates may be attributed to factors such as the severity of the disc disease, the individual characteristics of the patients, and the surgical techniques used. Overall, spinal fusion surgery appears to be an effective treatment option for many patients with degenerative disc disease, with a majority experiencing successful outcomes.
By 2050, it is projected that over half of the global hip fractures will occur in Asia.
The statistic suggests that by the year 2050, more than half of all hip fractures worldwide will occur in Asia. This projection underscores the significant burden of hip fractures faced by the Asian population in the coming decades. The increasing prevalence of hip fractures in Asia can be attributed to a combination of factors, including an aging population, lifestyle changes leading to decreased bone density, and a rise in chronic conditions such as osteoporosis. This statistic highlights the importance of implementing strategies to prevent and manage hip fractures in Asian countries, including promoting bone health through lifestyle interventions, access to healthcare, and early detection and treatment of osteoporosis.
The orthopedic prosthetics market is forecasted to grow at a CAGR of 3.1%, to reach USD 2.9 billion by 2025.
This statistic indicates the projected growth rate of the orthopedic prosthetics market over a specified period. The Compound Annual Growth Rate (CAGR) of 3.1% implies that the market is expected to increase by an average of 3.1% annually. By 2025, the market is forecasted to reach a value of USD 2.9 billion, reflecting the cumulative effects of this growth rate. This forecast suggests that demand for orthopedic prosthetics is expected to continue to rise steadily in the coming years, likely driven by factors such as an aging population, technological advancements, and an increasing prevalence of musculoskeletal disorders.
Conclusion
From the statistics presented in this blog post, it is evident that the orthopedic industry is experiencing significant growth and innovation. The increasing prevalence of orthopedic conditions, advancements in technology, and rising healthcare expenditure are all contributing factors. It is crucial for stakeholders in the orthopedic industry to stay informed and adapt to these trends in order to deliver the best possible care and outcomes for patients.
References
0. – https://www.www.statista.com
1. – https://www.www.ncbi.nlm.nih.gov
2. – https://www.www.grandviewresearch.com
3. – https://www.www.fortunebusinessinsights.com
4. – https://www.www.globenewswire.com
5. – https://www.pubmed.ncbi.nlm.nih.gov
