With a revenue share of more than 46 percent in 2021, North America led the global market for orthopaedic devices. High demand for advanced healthcare services is expected to drive the regional market, owing to the presence of well-developed healthcare infrastructure, industry giants, and reimbursement coverage. The region's orthopaedic surgery volume is being fueled by an ever-increasing target patient population as a result of ageing and rising car accidents. The high prevalence of orthopaedic conditions, combined with the use of advanced treatment procedures, is expected to drive Orthopedic Devices Market growth in the United States.
From 2022 to 2030, Asia Pacific is expected to have the fastest CAGR. China and India are expected to have the world's largest geriatric population pools. As a result, demand from these countries is expected to skyrocket in the near future. Furthermore, the thriving medical tourism industry, owing to the availability of advanced healthcare treatments at cost-effective rates, is expected to attract an increasing number of patients from the target patient population. Japan has a large number of implant manufacturers and spends more money on healthcare than most other countries in the region. Furthermore, rapid adoption of new technology is expected to fuel regional Orthopedic Devices Market growth.
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