India Orthopedic Devices Market By Product Type (Joint Reconstruction, Spinal Devices, Orthopedic Braces and Supports, Trauma Fixation, Orthopedic Accessories, Orthopedic Prosthetics), By Application (Hip Replacement, Knee Replacement, Spine Injuries, Shoulder Replacement, Others), By End User (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, Others), By Region, Forecast & Opportunities, FY2026

The India Orthopedic Devices Market was valued at around USD 1540.41 million in FY2020 and is expected to grow at CAGR of 7.71% during the forecast period. The India Orthopedic Devices Market is driven by increasing rate of geriatric population and rising prevalence of diseases such as diabetes, obesity, osteoarthritis, and osteoporosis. Furthermore, rise in the road accidents is also expected to drive the market for India Orthopedic Devices during the forecast years. Additionally, increase in health care expenditure is further anticipated to propel the market through FY2026.

Orthopedic Devices are designed to avoid, or handle problems associated with musculoskeleton that are available with hospitals, orthopedic clinics and ambulatory surgical centers provided by various Orthopedic devices manufacturing companies. orthopedic devices include joint reconstruction devices, Orthopedic braces and supports, trauma fixation devices, spinal devices, orthopedic prosthetics and orthopedic accessories.

The India Orthopedic Devices Market can be segmented based on product type, application, end-user, company, and region. Based on product type, the market can be fragmented into joint reconstruction, Orthopedic braces and supports, trauma fixation, spinal devices, Orthopedic prosthetics, and Orthopedic accessories. The joint reconstruction product segment is expected to dominate the market during forecast period, owing to the significant increase in the prevalence of geriatric population. Additionally, the rising cases of diseases such as diabetes, obesity, osteoarthritis, and osteoporosis are further driving the growth of this segment across the country. Based on application, the market can be categorized into knee replacement, spine injuries, hip replacement, shoulder replacement and others (including anthroscopy and implants). In By application segment, knee replacement is expected to hold a significant market share over the next five years. This can be accredited to the increasing rate of geriatric population.

Among all the regions, South India is expected to dominate the market through FY2026. This can be attributed to the increasing health awareness among the population.

Major players operating in the India Orthopedic Devices Market include Stryker India Pvt. Ltd., Zimmer India Pvt. Ltd., Smith & Nephew Healthcare Pvt. Ltd., India Medtronic Pvt. Ltd., Globus Medical Pvt. Ltd., Auxein Medical Pvt. Ltd., Smit Medimed Pvt. Ltd., GPC Medical Ltd., Femur Medical Pvt. Ltd., and TriMed Solutions (India) Pvt. Ltd.

Years considered for this report:

Historical Years: FY2016-FY2019

Base Year: FY2020

Estimated Year: FY2021

Forecast Period: FY2022–FY2026

Objective of the Study:

• To analyze and forecast the market size of India Orthopedic Devices Market.
• To classify and forecast India Orthopedic Devices Market based on product type, application, end-user, and regional distribution.
• To identify drivers and challenges for India Orthopedic Devices Market.
• To examine competitive developments such as expansions, new product launches, mergers, and acquisitions, etc., in India Orthopedic Devices Market.
• To conduct pricing analysis for India Orthopedic Devices Market.
• To identify and analyze the profiles of leading players operating in India Orthopedic Devices Market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of major orthopedic devices players and hospital chains operating across India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research.

TechSci Research calculated the market size of India Orthopedic Devices Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Hospitals, orthopedic clinics, ambulatory surgical centers, and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to orthopedic devices
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as hospitals, diagnostic laboratories, and partners, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, India Orthopedic Devices Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Market, By Product Type:

o   Joint Reconstruction

o   Spinal Devices

o   Orthopedic Braces and Supports

o   Trauma Fixation

o   Orthopedic Accessories

o   Orthopedic Prosthetics

• Market, By Application:
• Hip replacement
• Knee replacement
• Spine Injuries
• Shoulder Replacement
• Others (Includes Anthroscopy and Implants)
• Market, By End-User:
• Hospitals
• Orthopedic Clinics
• Ambulatory Surgical Centers
• Others (Includes Diagnostic Laboratories and Home care settings)
• Market, By Region:
• North
• South
• East
• West

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).