Global Orthopedic Extension Devices Market- Market Overview:

The global orthopedic extension devices market is expected to grow from USD 907.47 million in 2022 to USD 1251.5 million by 2030, at a CAGR of 4.1% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising geriatric population.

Orthopedic extension devices are used to repair or support broken bones, replace lost joints, or support damaged bones. They are made up of titanium alloys and stainless steel for strength, and the plastic coating acts as synthetic cartilage. Internal fixation is an orthopedic surgery that uses implants to repair fractured bones. Surgical extension devices are used as accessories with operating tables to ensure patient safety and to ease surgical workflow. Advanced orthopedic operating tables and extension devices are in high demand as patients undergo surgical procedures like hip surgery, knee surgery, and other orthopedic surgeries. Orthopedic extension devices are becoming increasingly popular in emerging countries because of rising R&D spending and a strong healthcare infrastructure. The growth of the market in the next few years will also be fueled by an increase in the number of surgeries and healthcare expenses in developing countries. Among other things, orthopedic extension devices are meant to restore normal skeletal function and stable body posture by treating deformities or fractures, among other things. Due to technological advancements, the orthopedic devices market has transformed, as a result of which existing surgical methods have been replaced by modern fixation and prosthetic techniques.

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Market Dynamics:

Drivers:                          

• Rising geriatric population

A growing global population and an increasing prevalence of osteoarthritis and osteoporosis are driving the global market. Additionally, medical tourism and technological advancements have contributed to its expansion. As a result of factors such as an increase in geriatrics, osteoporosis and osteoarthritis, as well as more joint replacements and sports accidents, the orthopedic device market is expected to grow rapidly.

Restraints:                                             

• High Cost

It is becoming increasingly difficult for some people to afford orthopedic treatment as a result of the increasing use of orthopedic extension devices. As a result, the cost of orthopedic devices is increasing. Furthermore, there is an increase in the quality of devices used in orthopedic devices, which in turn increases its price. Additionally, the cost of surgery for orthopedic treatments is challenging the market to grow because of its high cost.

Opportunities:

• Rising sports injuries

During the Projection period, falls and bone injuries are expected to increase market growth. As more young people engage in sports and fitness activities, the number of accidents associated with these activities rises. In addition, advances in limiting side effects are predicted to generate profitable prospects for the orthopedics market. The increase in the incidence of degenerative joint disease, particularly among the elderly, is linked to obesity and diabetes, which could boost the market.

Challenges:

• Stringent Regulations

A stringent government regulation is expected to impede the growth of the orthopedic extension devices market, as hospitals and clinics are using orthopedic extension devices in order to generate income. A number of hospitals and doctors also use low-quality materials, which negatively affects the health of patients. As a result, strict regulations have been imposed on the use of orthopedic devices, which have inhibited market growth.

Segmentation Analysis:

The global orthopedic extension devices market has been segmented based on product type, end-user, and region.

By Manufacturing Type

The product type segment includes hip surgery, arm surgery, knee surgery, spine surgery and others. The knee surgery segment led the largest share of the orthopedic extension devices market with a market share of around 28% in 2022. As part of knee surgery orthopedic extension devices, metals, plastics, or a combination of both materials can be used to support and extend the knee joint. There are two major types of knee surgery orthopedic extension devices: overall type and assembly type. An overall type knee surgery orthopedic extension device replaces the entire knee joint and is a complete implant.

By Convertor Type

The end-user segment includes ambulatory surgical centers, hospitals, and others. The hospitals segment led the largest share of the orthopedic extension devices market with a market share of around 47% in 2022. It is anticipated that hospitals will grow at the fastest rate over the Projection period. Hospitals often treat orthopedic patients. In addition to effective therapy, hospitals' effective reimbursement procedures are crucial to driving up the number of people obtaining care there, but the market growth is expected to be boosted as minimally invasive procedures become more popular.

Global Orthopedic Extension Devices Market- Sales Analysis.

The sale of orthopedic extension devices expanded at a CAGR of 3.8% from 2016 to 2022.

Growing sports injuries and accidents, as well as age-related degenerative diseases, and increased awareness about the benefits of these devices, are mainly driving the growth of this market.

It is also anticipated that the market will grow due to the early onset of musculoskeletal disorders, which are caused by obesity and sedentary living. The current trauma care techniques are unable to fully replace body components because of a lack of effective surgical equipment. Due to this shortage, market players invest heavily in research and development to develop innovative gadgets, is boosting the market growth.

Healthcare providers are constantly upgrading their devices and services due to a growing awareness of innovative products available. As a result of reimbursement coverage for orthopedic treatments, orthopedic surgery has become more popular. The combination of these factors allows customers to opt for more advanced and higher-priced treatment options, which is increasing revenue.

Thus, owing to the aforementioned factors, the global orthopedic extension devices market is expected to grow at a CAGR of 4.1% during the Projection period from 2023 to 2030.

By Regional Analysis:

The regions analyzed for the orthopedic extension devices market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the orthopedic extension devices market and held a 37.4% share of the market revenue in 2022.

• The North American region witnessed a major share. Due to the increasing number of surgical practices and product launches in North America, orthopedic extension devices are in high demand. Its advanced healthcare infrastructure and the increasing government expenditure on the rapid development of disease controlling drugs are further fueling the growth of the global orthopedic extension devices market. Increasing patient populations due to aging and car accidents are also fueling the number of orthopedic surgeries carried out in this region. In the U.S., orthopedic conditions are expected to be highly prevalent and advanced treatment procedures will fuel market growth.
• Asia Pacific is anticipated to experience significant growth during the predicted period. It is likely that Asian Pacific will dominate the orthopedic extension devices market in the future due to the increasing number of falls, serious injuries and road accidents, along with facility expansions by leading players. There are many implant manufacturers in Japan and its healthcare expenditure is higher than in most other countries in its region.

Global Orthopedic Extension Devices Market - Country Analysis:

• Germany

Germany's orthopedic extension devices market size was valued at USD 68.04 million in 2022 and is expected to reach USD 94.5 million by 2030, at a CAGR of 4.2% from 2023 to 2030.

The market is predicted to grow due to the increase in sports injuries, diabetes occurrences, and an increase in the geriatric population, which will result in an increase in bone injuries. A high adoption of new technology in country’s markets is also expected to drive the market's growth, as well as the regular entry of new products.

• China

China’s orthopedic extension devices market size was valued at USD 70.7 million in 2022 and is expected to reach USD 99 million by 2030, at a CAGR of 4.5% from 2023 to 2030.

Healthcare infrastructure in the region and strong collaborations between key industry players should stimulate demand. It is expected that the country's orthopedic devices market will grow as a result of a growing prevalence of chronic diseases brought on by ageing populations, the development of surgery devices, and the increasing acceptance of orthopedic extension devices.

• India

India's orthopedic extension devices market size was valued at USD 54.44 million in 2022 and is expected to reach USD 76.8 million by 2030, at a CAGR of 4.4% from 2023 to 2030.

There is expected to be a large number of geriatric individuals in India, so demand for these services will increase significantly in the near future. Additionally, because advanced healthcare treatments are available at cost-effective rates in India, the medical tourism industry is expected to flourish, attracting more patients in the future.

Key Industry Players Analysis:  

To increase their market position in the global orthopedic extension devices market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Globus Medical
• ConforMIS
• Medacta
• DJO Global
• Smith & Nephew
• Zimmer Biomet
• Stryker
• NuVasive
• Medtronic
• DePuySynthes

Latest Development:

• In February 2020, A manufacturing facility will be built at Batu Kawan Industrial Park, in Penang, Malaysia, for Smith & Nephew's orthopedics franchise and medical device manufacturing, which will be the company's first franchise in South-East Asia.
• In October 2020, The Adaptix Interbody System, the first guided titanium implant with Titan nanoLOCK Surface Technology, was announced by Medtronic in the United States today. Its new product has enhanced its credibility and demand in the market, resulting in higher revenue for the company.

Report Metrics

Report Attribute	Details
Study Period	2022-2030
Base year	2022
CAGR (%)	4.1%
Market Size	907.47 million in 2022
Projection period	2023-2030
Projection unit	Value (USD)
Segments covered	By Product Type, By End-User, and By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Globus Medical, ConforMIS, Medacta, DJO Global, Smith & Nephew, Zimmer Biomet, Stryker, NuVasive, Medtronic, and DePuySynthes.
By Product Type	Hip Surgery Arm Surgery Knee Surgery Spine Surgery Others
By End-User	Ambulatory Surgical Centers Hospitals Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Orthopedic Extension Devices Market by Product Type:

• Hip Surgery
• Arm Surgery
• Knee Surgery
• Spine Surgery
• Others

Global Orthopedic Extension Devices Market by End-User:

• Ambulatory Surgical Centers
• Hospitals
• Others

Global Orthopedic Extension Devices Market by Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- The frequency of changes to government policies and laws is called uncertainty in the political environment. Regular policy changes have an impact on corporate performance and increase decision-making difficulty owing to ongoing ambiguity. In order to quickly adapt to changing policies, orthopedic extension devices should actively monitor the political landscape and adjust their strategic priorities as necessary. the laws that the country enforces, especially those that deal with business, like contract law, because they outline what is and isn't allowed to be done. For instance, some countries prohibit alcohol or have strict regulations that must be followed, while other governments have bloated bureaucracies that discourage business.

Economic Factors- When deciding whether to expand internationally, orthopedic extension devices should consider the economic growth rates of the various nations. More options to pursue long-term growth goals exist in nations with high economic growth rates. Consumer spending becomes more cautious when the economy is growing slowly, which has a direct impact on orthopedic extension devices' revenue growth. Since rising inflation reduces the purchasing power of money and deters consumers from spending on goods and services, it may have a detrimental effect on orthopedic extension devices' ability to raise their revenue.

Social Factors- Consumption patterns and economic issues are closely related. orthopedic extension devices benefit from exciting growth opportunities when consumers have more disposable income and are willing to spend more on goods and services to improve their lifestyles. This is because it is simpler to introduce new products and services to these customers, and revenue growth chances are also higher. orthopedic extension devices must carefully examine the consumption/spending trends and tastes of modern consumers, who are increasingly demanding, in order to modify their marketing mix methods. orthopedic extension devices must also comprehend whether hedonic or utilitarian incentives are behind the consumption.

Technological Factors- The velocity and progress of technological innovation can have an impact on the market and industry as a whole. orthopedic extension devices will be able to comprehend the rate of new product creation, the length of the product life cycle, and the unique features that consumers choose by researching the upcoming technological innovation trends. orthopedic extension devices can determine whether switching to e-commerce will be more advantageous than establishing a physical location by conducting research into consumers' sentiments regarding cutting-edge, new digital technology.

Environmental Factors-  The development of renewable technology to lessen reliance on natural resources has become a strong trend in many industries. To capitalise on this environmental trend, orthopedic extension devices should assess how well a nation's technology infrastructure supports the usage of renewable technologies. Governments in certain parts of the world provide enticing incentives for the use of renewable energy sources. orthopedic extension devices may achieve its goals for sustainable business development by taking advantage of the opportunity and investing in renewable energy sources.

Legal Factors- orthopedic extension devices should safeguard the safety of the working environment while entering or operating in such nations. There must be appropriate systems in place to prevent both direct and indirect discrimination. In the continuous competition for talent, effective compliance with employment rules can aid orthopedic extension devices in enhancing its employer brand reputation, which is critical for luring and keeping top personnel in the market. After seeing the appalling conditions that workers were required to labor in during and immediately following the industrial revolution, health and safety legislation were established.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Product Type
     • 3.2. Market Attractiveness Analysis By End-User
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rising geriatric population
   • 3. Restraints
     • 3.1. High Cost
   • 4. Opportunities
     • 4.1. Rising sports injuries
   • 5. Challenges
     • 5.1. Stringent Regulations

6. Global Orthopedic Extension Devices Market Analysis and Projection, By Product Type
   • 1. Segment Overview
   • 2. Hip Surgery
   • 3. Arm Surgery
   • 4. Knee Surgery
   • 5. Spine Surgery
   • 6. Others
7. Global Orthopedic Extension Devices Market Analysis and Projection, By End-User
   • 1. Segment Overview
   • 2. Ambulatory Surgical Centers
   • 3. Hospitals
   • 4. Others
8. Global Orthopedic Extension Devices Market Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Orthopedic Extension Devices Market-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Orthopedic Extension Devices Market
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Technology Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Globus Medical
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Technology Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • ConforMIS
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Technology Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • Medacta
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Technology Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • DJO Global
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Technology Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Smith & Nephew
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Technology Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Zimmer Biomet
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Technology Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Stryker
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Technology Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • NuVasive
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Technology Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • MEDTRONIC
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Technology Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • DePuySynthes
      • Business Overview
      • Company Snapshot
      • Company Market Share Analysis
      • Company Technology Portfolio
      • Recent Developments
      • SWOT Analysis

List of Table

1. Global Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
2. Global Hip Surgery, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
3. Global Arm Surgery, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
4. Global Knee Surgery, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
5. Global Spine Surgery, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
6. Global Others, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
7. Global Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
8. Global Ambulatory Surgical Centers, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
9. Global Hospitals, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
10. Global Others, Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
11. Global Orthopedic Extension Devices Market, By Region, 2023–2030 (USD Million)
12. North America Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
13. North America Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
14. USA Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
15. USA Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
16. Canada Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
17. Canada Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
18. Mexico Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
19. Mexico Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
20. Europe Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
21. Europe Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
22. Germany Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
23. Germany Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
24. France Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
25. France Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
26. UK Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
27. UK Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
28. Italy Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
29. Italy Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
30. Spain Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
31. Spain Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
32. Asia Pacific Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
33. Asia Pacific Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
34. Japan Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
35. Japan Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
36. China Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
37. China Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
38. India Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
39. India Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
40. South America Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
41. South America Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
42. Brazil Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
43. Brazil Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
44. Middle East and Africa Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
45. Middle East and Africa Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
46. UAE Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
47. UAE Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)
48. South Africa Orthopedic Extension Devices Market, By Product Type, 2023–2030 (USD Million)
49. South Africa Orthopedic Extension Devices Market, By End-User, 2023–2030 (USD Million)

List of Figures 

1. Global Orthopedic Extension Devices Market Segmentation
2. Orthopedic Extension Devices Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Orthopedic Extension Devices Market Attractiveness Analysis By Product Type
9. Global Orthopedic Extension Devices Market Attractiveness Analysis By End-User
10. Global Orthopedic Extension Devices Market Attractiveness Analysis By Region
11. Global Orthopedic Extension Devices Market: Dynamics
12. Global Orthopedic Extension Devices Market Share By Product Type (2023 & 2030)
13. Global Orthopedic Extension Devices Market Share By End-User (2023 & 2030)
14. Global Orthopedic Extension Devices Market Share by Regions (2023 & 2030)
15. Global Orthopedic Extension Devices Market Share by Company (2021)