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The worldwide orthopedic sector continues to remain one of the most dynamic sectors within the medical device industry. This sector can be broadly classified into the orthotics and prosthetics sector and the orthopedic devices sector.

Orthopedic devices primarily constitute biomaterials and materials that are used for joint reconstruction. These materials carry out the function of joint replacement, fracture fragment reduction, and bone manipulation. 

With rapid development in the orthopedic devices sector, there has been a significant growth in non-invasive and minimally invasive procedures. On the other hand, prosthetics essentially comprise the fitting of artificial joints or limbs, and installation of external splints.

Today, musculoskeletal problems have emerged as a leading health issue among people worldwide. These problems typically aggravate in an aging population, that is also seen to be on a rise worldwide. According to the American Academy of Orthopedic Surgeons, it is estimated that nearly one in every four people in the United States suffer from some form of musculoskeletal impairment. The market for such impairments is estimated at USD 180 billion.

This market is sensitive to fluctuations in the economic conditions worldwide given that the costs of treating musculoskeletal problems is high, and the recovery time is also higher, keeping patients off work for extended periods of time.

Some of the key market segments within the orthopedic devices industry are artificial joints and orthobiologics. It is estimated that the value of the orthopedic prosthetics market will reach nearly USD 19.4 billion by the end of 2015. Some of the major growth propellers in this sector will be degenerative diseases of the joint such as osteoporosis and arthritis, as well as other factors such as a growing elderly population and a growing acceptance for joint replacement surgeries as people are keener on maintaining an active lifestyle.

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