Latin America Orthopedic Devices Industry value worth $4.83 Bn by 2021
According to the report Latin America Orthopedic Devices Industry, published by Market Data
Forecast, The Industry was worth $3.82 billion in 2016 and estimated to be
growing at a CAGR of 4.81%, to reach $4.83 billion by 2021.
An orthopedic device is utilized to assist or
substitute the missing bone or joint. It aids in rebuilding or reinforcing the
damaged configuration. In order to acquire a biocompatible tool, several
properties of musco-skeletal tissues such as tendon, bone, ligament, and
cartilage need to be properly comprehended. The materials utilized in the
devices must be adjustable to the body in order to prevent rejection. This data
helps us in creating materials and plans that are specificially custom-made for
each type of tissue defect.
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The growth of the Latin America Orthopedic
Devices Industry is mainly driven by factors such as rise in geriatric
population, growing frequency of osteoarthritis and osteoporosis, and rise in
sports injuries and road accidents. However, factors such as costly procedures
& equipment, recurrent product recalls, and unfavorable economic conditions
are hindering the growth of the Industry in this region.
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The Latin America Orthopedic Devices Industry
is segmented based on anatomical location and type of consumables. The Industry
for orthopedic devices, on the basis of anatomical location is segmented into
knee, shoulder, foot and ankle, hip, spine, elbow, craniomaxillofacial, and
others. The knee segment is the largest segment, by anatomical location,
whereas the hip segment is projected to be the fastest growing segment. This is
due to various factors such as rise in geriatric populace, increase in
frequency of hip fractures, and mounting demand for hip replacement surgeries.
On the basis of type of consumables, the orthopedic devices Industry is segmented
into orthopedic staples and orthopedic suture anchors. Orthopedic suture
anchors are further segmented into resorbable suture anchors and metallic
suture anchors. The orthopedic suture anchors segment dominates the Industry
under this segment with a share of around 75%. Latin America Industry region
includes countries such as Brazil, Mexico, Argentina, and remaining countries
of South America. Brazil is the largest Industry for Orthopedic Devices,
followed by Mexico, Colombia, and Argentina. With the exception of Brazil and
Mexico, the medical regulatory environment in the region is erratic when
compared to developed countries.
Trade in medical devices and equipment is
vital to the region's growth with all Industrys reliant on imports, with the
exception of Brazil, which has a robust domestic Industry. The Industry is
categorized by the existence of diversified international and national
companies, where the global players lead the Industry and are predicted to grow
exponentially by securing regional or local companies. The major companies
dominating the Orthopedic Devices Industry in this region are Medtronic,
Stryker, Zimmer Inc., DePuy, Synthes, Smith & Nephew, and Biomet.
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Key Points
from Table of Contents
Overview
·
Executive
Summary
·
Key
Inferences
·
New
Developments
Drivers, Restraints, Opportunities, and
Challenges Analysis
(DROC)
Latin
America Orthopedic Devices Industry: Segmentation
·
Anatomical location
o
Knee
o
Shoulder
o
Foot and Ankle
o
Hip
o
Spine
o
Elbow
o
Craniomaxillofacial
o
Others
·
Type of Consumables
o
Orthopedic staples
o
Orthopedic suture anchors
Geographical
Analysis
·
Brazil
·
Mexico
·
Rest of Latin America
Strategic Analysis
·
PESTLE
analysis
·
Porter’s Five
analysis
Industry Leaders'
Analysis
Competitive
Landscape
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