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Description
The global Orthopaedic Devices Market was valued at USD 40000 Mn in 2021 and expected to reach USD 57038.8 Mn by 2022 growing at a CAGR of 5.2% during the forecast period 2022 to 2028. The orthopaedic device is a medical device which is used to replace missing joint or bone or to give support to the damaged bone. Orthopaedic Devices Market is fabricated by using titanium alloys and stainless steel for strength and plastic coating acts as artificial cartilage. Internal fixation is a surgery in orthopaedics which involves the implementation of implants in order to repair the damaged bone. Most common orthopaedic medical devices are rods, pins, plates and screws which are used for anchoring of fractured bones while they heal. The presently available pain management treatments are not capable of successfully restoring the body parts due to unavailability of efficient surgical tools which results in huge investments in R&D to introduce new and efficient devices for treatment of pain management. In 2015, According to the Rheumatoid arthritis support network, rheumatoid arthritis (RA) is affecting about 1.3Mn Americans and about 1% of total world population. Manufacturers are focused on huge investments in R&D and innovative product launches. Despite the restraints, emerging markets in developing countries and introduction of biologics for the treatment of foot and ankle disorders are expected to offer lucrative opportunities for the manufacturers in the market.
