Orthopedic Devices Market Strategies, Trends, and Forecast - 2031
The Orthopedic Devices Market is expected to register a CAGR of 5.9% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Joint Reconstruction, Spinal Devices, Trauma Fixation, Orthopedic Prosthetics, Arthroscopy Devices, Orthopedic Braces and Supports, Orthopedic Accessories, Other Products). Further, the market is segmented on the basis of Application (Spine Orthopedics, Knee Orthopedics, Hip Orthopedics, Craniomaxillofacial Orthopedics, Dental Orthopedics, and Sports Injuries, Extremities and Trauma (SET) Orthopedics). The report is segmented by End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Other End Users). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Orthopedic Devices Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Orthopedic Devices Market Segmentation
Product- Joint Reconstruction
- Spinal Devices
- Trauma Fixation
- Orthopedic Prosthetics
- Arthroscopy Devices
- Orthopedic Braces and Supports
- Orthopedic Accessories
- Other Products
- Spine Orthopedics
- Knee Orthopedics
- Hip Orthopedics
- Craniomaxillofacial Orthopedics
- Dental Orthopedics
- Sports Injuries
- Extremities and Trauma
- Hospitals
- Orthopedic Clinics
- Ambulatory Surgical Centers
- Other End Users
Strategic Insights
Orthopedic Devices Market Growth Drivers- Growing sports injuries: This increases in all age groups and levels of participation, though many people have been indulging in sports. Generally, incidence rates of injuries are bound to increase with many people engaging in sports. Most competitive athletes, whether at the professional level or student level, have training programs that may be predisposing to overuse injuries. The highlighted factors must be controlled through education, appropriate training, and safety measures to reduce the incidence of injuries during sporting activities.
- Increasing elderly population: The increasing number of aged people will result in an increase in the cases of orthopedic diseases. Joints may get exhausted over time, resulting in osteoarthritis. Older people are more susceptible to falls that end in fractures in any one part of the body, but specifically in the hip, wrist, and spine. Osteoporosis, which is the weakening of the bones, is also very common. Orthopedic procedures often result in a tremendous rehabilitation process needed by older adults, which further adds to the pressure on health services.
- Advanced Material: Material science research has dramatically improved performance, lifespan, and patient outcomes for orthopaedic devices. Continuing developments in material response to thermal and pH changes with dynamic applications in orthopaedics, as well as in drug delivery systems and self-healing implants, are being explored. Materials under development include titanium and its alloys, which have been used in orthopaedic implants due to their high strength-to-weight ratio, corrosion resistance, and biocompatibility. The advancements in surface treatments enhance osseointegration.
- Development of 3D Printing in orthopedics: Orthopedics is the other field in which 3D printing is increasingly developed. New developments enhance patient care and outcomes of surgery. The process allows implants tailored to a specific anatomy of a patient that offer better fit and integration with bone. Structures so complex may be fabricated by this technology that conventional manufacturing techniques are challenged to equal, hence enhancing functionality. It is possible for 3D printing to produce scaffolds that foster bone growth and healing as well as incorporation of material for regeneration of tissue.
- Smart Orthopedic Devices: Demand for smart orthopedic devices is expected to increase with technological advances and when there is a need to focus on individualized patient care. Smart devices can monitor movements and activity, even collect biomechanics data, giving precious insights into patients' and providers' perspectives. Allowing telehealth capabilities means continuous monitoring of a patient's progress through timely intervention when needed. With real-time data, smart devices can modify the rehabilitation program for the patient, thus providing a tailormade approach towards recovery. Thus, in essence, it is a combination of all three-the technology itself, personalized care, and better results for the patient-that drives the demand for smart orthopedic devices.
- Collaborations in Orthopedic Devices: More collaborations in orthopedic devices are reshaping the industry, pushing innovation, and bringing better care to the patient. Joint ventures between high-tech companies and producers of orthopedic devices lead to the creation of smart devices and data-driven solutions that bring increased functionality and data for the real-time monitoring of patients. Companies are going into partnership with robotics companies to come up with advanced surgical systems that push the boundaries of precision and result in orthopedic surgeries. Working with the patients by taking them into the development process ensures that devices meet actual needs and therefore leaves little room for poor usability and discontent.
- Technological Advancements: Highly dynamic, technologically advancing, and demographically shifting market of orthopedic devices with rising health and wellness awareness propels growth. China, India, and Brazil are witnessing rapid increases in adoption of orthopedic devices with increased health-care investments and rising awareness and incidence of orthopedic disorders. These emerging markets are expected to spur innovation and growth in the orthopedic device sector as patients evolve their needs while seeking improvements in health-care delivery.
- Personalized Orthopedic Devices: Personalized orthopedic care represents the evolution in orthopedic care, focusing on bespoke tailored treatment programs for specific needs and anatomy of each patient. They are based on pre-operative imaging, allowing for precise alignment and positioning during the process of surgery. With bioprinting techniques emerging, living tissue structures can be generated which promote healing, and with integration into natural bone, will allow for truly personalized solutions.
- Robotics and Automation: Robotics and automation are the tools of orthopedic surgery, primarily revolutionizing its efficiency, precision, and sensitivity to patient outcome. A standardization of surgery can be achieved by using automated instruments; thereby, it would eliminate variability and get better outcomes. Automation can help surgeons deal with routine or complicated tasks, saving time for the critical issues during surgeries. Automated systems can give feedback during training for continuous learning and improvement.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Orthopedic Devices Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Orthopedic Devices Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Players operating in the market are DePuy Synthes, Zimmer Biomet, Stryker, DJO Global, Medtronic, Arthrex, Smith and Nephew, and Integra Lifesciences
Orthopedic Braces and Supports segment, by product, dominated the market in 2023.
North America region dominated the orthopedic devices market in 2023.
Technological Advancements act as a opportunity for growth of the market in forecast period.
The Orthopedic Devices Market is estimated to witness a CAGR of 5.9% from 2023 to 2031
The major factors driving the orthopedic devices market are:
1. Growing sports injuries
2. Increasing elderly population
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Orthopedic Devices Market - By Product
1.3.2 Orthopedic Devices Market - By Application
1.3.3 Orthopedic Devices Market - By End User
1.3.4 Orthopedic Devices Market - By Region
1.3.4.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. ORTHOPEDIC DEVICES MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. ORTHOPEDIC DEVICES MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. ORTHOPEDIC DEVICES MARKET - GLOBAL MARKET ANALYSIS
6.1. ORTHOPEDIC DEVICES - GLOBAL MARKET OVERVIEW
6.2. ORTHOPEDIC DEVICES - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. ORTHOPEDIC DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. JOINT RECONSTRUCTION
7.3.1. Overview
7.3.2. Joint Reconstruction Market Forecast and Analysis
7.4. SPINAL DEVICES
7.4.1. Overview
7.4.2. Spinal Devices Market Forecast and Analysis
7.5. TRAUMA FIXATION
7.5.1. Overview
7.5.2. Trauma Fixation Market Forecast and Analysis
7.6. ORTHOPEDIC PROSTHETICS
7.6.1. Overview
7.6.2. Orthopedic Prosthetics Market Forecast and Analysis
7.7. ARTHROSCOPY DEVICES
7.7.1. Overview
7.7.2. Arthroscopy Devices Market Forecast and Analysis
7.8. ORTHOPEDIC BRACES AND SUPPORTS
7.8.1. Overview
7.8.2. Orthopedic Braces and Supports Market Forecast and Analysis
7.9. ORTHOPEDIC ACCESSORIES
7.9.1. Overview
7.9.2. Orthopedic Accessories Market Forecast and Analysis
7.10. OTHER PRODUCTS
7.10.1. Overview
7.10.2. Other Products Market Forecast and Analysis
8. ORTHOPEDIC DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. SPINE ORTHOPEDICS
8.3.1. Overview
8.3.2. Spine Orthopedics Market Forecast and Analysis
8.4. KNEE ORTHOPEDICS
8.4.1. Overview
8.4.2. Knee Orthopedics Market Forecast and Analysis
8.5. HIP ORTHOPEDICS
8.5.1. Overview
8.5.2. Hip Orthopedics Market Forecast and Analysis
8.6. CRANIOMAXILLOFACIAL ORTHOPEDICS
8.6.1. Overview
8.6.2. Craniomaxillofacial Orthopedics Market Forecast and Analysis
8.7. DENTAL ORTHOPEDICS
8.7.1. Overview
8.7.2. Dental Orthopedics Market Forecast and Analysis
8.8. SPORTS INJURIES
8.8.1. Overview
8.8.2. Sports Injuries Market Forecast and Analysis
8.9. EXTREMITIES AND TRAUMA (SET) ORTHOPEDICS
8.9.1. Overview
8.9.2. Extremities and Trauma (SET) Orthopedics Market Forecast and Analysis
9. ORTHOPEDIC DEVICES MARKET - REVENUE AND FORECASTS TO 2028 - END USER
9.1. OVERVIEW
9.2. END USER MARKET FORECASTS AND ANALYSIS
9.3. HOSPITALS
9.3.1. Overview
9.3.2. Hospitals Market Forecast and Analysis
9.4. ORTHOPEDIC CLINICS
9.4.1. Overview
9.4.2. Orthopedic Clinics Market Forecast and Analysis
9.5. AMBULATORY SURGICAL CENTERS
9.5.1. Overview
9.5.2. Ambulatory Surgical Centers Market Forecast and Analysis
9.6. OTHER END USERS
9.6.1. Overview
9.6.2. Other End Users Market Forecast and Analysis
10. ORTHOPEDIC DEVICES MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
10.1. NORTH AMERICA
10.1.1 North America Orthopedic Devices Market Overview
10.1.2 North America Orthopedic Devices Market Forecasts and Analysis
10.1.3 North America Orthopedic Devices Market Forecasts and Analysis - By Product
10.1.4 North America Orthopedic Devices Market Forecasts and Analysis - By Application
10.1.5 North America Orthopedic Devices Market Forecasts and Analysis - By End User
10.1.6 North America Orthopedic Devices Market Forecasts and Analysis - By Countries
10.1.6.1 United States Orthopedic Devices Market
10.1.6.1.1 United States Orthopedic Devices Market by Product
10.1.6.1.2 United States Orthopedic Devices Market by Application
10.1.6.1.3 United States Orthopedic Devices Market by End User
10.1.6.2 Canada Orthopedic Devices Market
10.1.6.2.1 Canada Orthopedic Devices Market by Product
10.1.6.2.2 Canada Orthopedic Devices Market by Application
10.1.6.2.3 Canada Orthopedic Devices Market by End User
10.1.6.3 Mexico Orthopedic Devices Market
10.1.6.3.1 Mexico Orthopedic Devices Market by Product
10.1.6.3.2 Mexico Orthopedic Devices Market by Application
10.1.6.3.3 Mexico Orthopedic Devices Market by End User
10.2. EUROPE
10.2.1 Europe Orthopedic Devices Market Overview
10.2.2 Europe Orthopedic Devices Market Forecasts and Analysis
10.2.3 Europe Orthopedic Devices Market Forecasts and Analysis - By Product
10.2.4 Europe Orthopedic Devices Market Forecasts and Analysis - By Application
10.2.5 Europe Orthopedic Devices Market Forecasts and Analysis - By End User
10.2.6 Europe Orthopedic Devices Market Forecasts and Analysis - By Countries
10.2.6.1 Germany Orthopedic Devices Market
10.2.6.1.1 Germany Orthopedic Devices Market by Product
10.2.6.1.2 Germany Orthopedic Devices Market by Application
10.2.6.1.3 Germany Orthopedic Devices Market by End User
10.2.6.2 France Orthopedic Devices Market
10.2.6.2.1 France Orthopedic Devices Market by Product
10.2.6.2.2 France Orthopedic Devices Market by Application
10.2.6.2.3 France Orthopedic Devices Market by End User
10.2.6.3 Italy Orthopedic Devices Market
10.2.6.3.1 Italy Orthopedic Devices Market by Product
10.2.6.3.2 Italy Orthopedic Devices Market by Application
10.2.6.3.3 Italy Orthopedic Devices Market by End User
10.2.6.4 Spain Orthopedic Devices Market
10.2.6.4.1 Spain Orthopedic Devices Market by Product
10.2.6.4.2 Spain Orthopedic Devices Market by Application
10.2.6.4.3 Spain Orthopedic Devices Market by End User
10.2.6.5 United Kingdom Orthopedic Devices Market
10.2.6.5.1 United Kingdom Orthopedic Devices Market by Product
10.2.6.5.2 United Kingdom Orthopedic Devices Market by Application
10.2.6.5.3 United Kingdom Orthopedic Devices Market by End User
10.2.6.6 Rest of Europe Orthopedic Devices Market
10.2.6.6.1 Rest of Europe Orthopedic Devices Market by Product
10.2.6.6.2 Rest of Europe Orthopedic Devices Market by Application
10.2.6.6.3 Rest of Europe Orthopedic Devices Market by End User
10.3. ASIA-PACIFIC
10.3.1 Asia-Pacific Orthopedic Devices Market Overview
10.3.2 Asia-Pacific Orthopedic Devices Market Forecasts and Analysis
10.3.3 Asia-Pacific Orthopedic Devices Market Forecasts and Analysis - By Product
10.3.4 Asia-Pacific Orthopedic Devices Market Forecasts and Analysis - By Application
10.3.5 Asia-Pacific Orthopedic Devices Market Forecasts and Analysis - By End User
10.3.6 Asia-Pacific Orthopedic Devices Market Forecasts and Analysis - By Countries
10.3.6.1 Australia Orthopedic Devices Market
10.3.6.1.1 Australia Orthopedic Devices Market by Product
10.3.6.1.2 Australia Orthopedic Devices Market by Application
10.3.6.1.3 Australia Orthopedic Devices Market by End User
10.3.6.2 China Orthopedic Devices Market
10.3.6.2.1 China Orthopedic Devices Market by Product
10.3.6.2.2 China Orthopedic Devices Market by Application
10.3.6.2.3 China Orthopedic Devices Market by End User
10.3.6.3 India Orthopedic Devices Market
10.3.6.3.1 India Orthopedic Devices Market by Product
10.3.6.3.2 India Orthopedic Devices Market by Application
10.3.6.3.3 India Orthopedic Devices Market by End User
10.3.6.4 Japan Orthopedic Devices Market
10.3.6.4.1 Japan Orthopedic Devices Market by Product
10.3.6.4.2 Japan Orthopedic Devices Market by Application
10.3.6.4.3 Japan Orthopedic Devices Market by End User
10.3.6.5 South Korea Orthopedic Devices Market
10.3.6.5.1 South Korea Orthopedic Devices Market by Product
10.3.6.5.2 South Korea Orthopedic Devices Market by Application
10.3.6.5.3 South Korea Orthopedic Devices Market by End User
10.3.6.6 Rest of Asia-Pacific Orthopedic Devices Market
10.3.6.6.1 Rest of Asia-Pacific Orthopedic Devices Market by Product
10.3.6.6.2 Rest of Asia-Pacific Orthopedic Devices Market by Application
10.3.6.6.3 Rest of Asia-Pacific Orthopedic Devices Market by End User
10.4. MIDDLE EAST AND AFRICA
10.4.1 Middle East and Africa Orthopedic Devices Market Overview
10.4.2 Middle East and Africa Orthopedic Devices Market Forecasts and Analysis
10.4.3 Middle East and Africa Orthopedic Devices Market Forecasts and Analysis - By Product
10.4.4 Middle East and Africa Orthopedic Devices Market Forecasts and Analysis - By Application
10.4.5 Middle East and Africa Orthopedic Devices Market Forecasts and Analysis - By End User
10.4.6 Middle East and Africa Orthopedic Devices Market Forecasts and Analysis - By Countries
10.4.6.1 South Africa Orthopedic Devices Market
10.4.6.1.1 South Africa Orthopedic Devices Market by Product
10.4.6.1.2 South Africa Orthopedic Devices Market by Application
10.4.6.1.3 South Africa Orthopedic Devices Market by End User
10.4.6.2 Saudi Arabia Orthopedic Devices Market
10.4.6.2.1 Saudi Arabia Orthopedic Devices Market by Product
10.4.6.2.2 Saudi Arabia Orthopedic Devices Market by Application
10.4.6.2.3 Saudi Arabia Orthopedic Devices Market by End User
10.4.6.3 U.A.E Orthopedic Devices Market
10.4.6.3.1 U.A.E Orthopedic Devices Market by Product
10.4.6.3.2 U.A.E Orthopedic Devices Market by Application
10.4.6.3.3 U.A.E Orthopedic Devices Market by End User
10.4.6.4 Rest of Middle East and Africa Orthopedic Devices Market
10.4.6.4.1 Rest of Middle East and Africa Orthopedic Devices Market by Product
10.4.6.4.2 Rest of Middle East and Africa Orthopedic Devices Market by Application
10.4.6.4.3 Rest of Middle East and Africa Orthopedic Devices Market by End User
10.5. SOUTH AND CENTRAL AMERICA
10.5.1 South and Central America Orthopedic Devices Market Overview
10.5.2 South and Central America Orthopedic Devices Market Forecasts and Analysis
10.5.3 South and Central America Orthopedic Devices Market Forecasts and Analysis - By Product
10.5.4 South and Central America Orthopedic Devices Market Forecasts and Analysis - By Application
10.5.5 South and Central America Orthopedic Devices Market Forecasts and Analysis - By End User
10.5.6 South and Central America Orthopedic Devices Market Forecasts and Analysis - By Countries
10.5.6.1 Brazil Orthopedic Devices Market
10.5.6.1.1 Brazil Orthopedic Devices Market by Product
10.5.6.1.2 Brazil Orthopedic Devices Market by Application
10.5.6.1.3 Brazil Orthopedic Devices Market by End User
10.5.6.2 Argentina Orthopedic Devices Market
10.5.6.2.1 Argentina Orthopedic Devices Market by Product
10.5.6.2.2 Argentina Orthopedic Devices Market by Application
10.5.6.2.3 Argentina Orthopedic Devices Market by End User
10.5.6.3 Rest of South and Central America Orthopedic Devices Market
10.5.6.3.1 Rest of South and Central America Orthopedic Devices Market by Product
10.5.6.3.2 Rest of South and Central America Orthopedic Devices Market by Application
10.5.6.3.3 Rest of South and Central America Orthopedic Devices Market by End User
11. IMPACT OF COVID-19 PANDEMIC ON GLOBAL ORTHOPEDIC DEVICES MARKET
11.1 North America
11.2 Europe
11.3 Asia-Pacific
11.4 Middle East and Africa
11.5 South and Central America
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. ORTHOPEDIC DEVICES MARKET, KEY COMPANY PROFILES
13.1. DEPUY SYNTHES
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. ZIMMER BIOMET
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. STRYKER
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. SMITH AND NEPHEW
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. DJO GLOBAL, INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. ARTHREX, INC
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. MEDTRONIC
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. CONMED CORPORATION
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. WRIGHT MEDICAL GROUP N.V.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. INTEGRA LIFESCIENCES CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. DePuy Synthes
2. Zimmer Biomet
3. Stryker
4. Smith & Nephew
5. DJO Global
6. Arthrex, Inc.
7. Medtronic
8. CONMED Corporation
9. Wright Medical Group N.V
10. Integra LifeSciences
11. Aesculap Implant Systems, LLC
12. NuVasive, Inc.
13. Globus Medical Inc.
14. MicroPort
15. ConforMIS
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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