Market Trends of North America General Surgical Devices Industry
Orthopedic Segment is Expected to Witness a Strong Growth in Coming Years
The prevalence of diseases, such as osteoarthritis, has increased significantly in the North American region. For instance, according to a report, The Burden of Osteoarthritis in Canada (2021) commissioned by the Arthritis Community Research and Evaluation Unit (ACREU), around 15% of Canadians aged 20 years and above had osteoarthritis in 2021. The report stated that more than 4 million Canadians, or about 1 in every seven adults, have osteoarthritis in Canada. The high burden of such disorders is increasing the demand for orthopedic and trauma surgery in the country which is fueling the segment growth.
Additionally, New product launches in orthopedics are propelling the segment growth in the region. For instance, in October 2021, Medtronic Canada ULC announced the commercial launch of the Mazor X System for robotic-guided spine surgery. The Mazor platform offers a fully integrated procedural solution for surgical planning, workflow, execution, and confirmation, and is the first dedicated robotic-assisted spine surgery platform being launched in Canada.
Furthermore, in November 2021, Nova Scotia Health's QEII Health Sciences Centre received SmartRobotics system which is the second surgical robot of its kind in Canada. The innovative robotic arm is controlled by a surgeon during hip and knee surgeries and offers unprecedented precision for the placement of a joint implant (arthroplasty surgeries). Hence, owing to the increasing prevalence of orthopedic disorders and the new device launches, the segment is expected to witness a strong growth over the forecast period.
United States is Expected to Dominate the Market
In the North American region, the United States is the most developed country in terms of the healthcare sector. Due to the presence of key medical device providers and the high adoption of novel technologies in the country, the market studied is believed to witness significant growth.
The American Hospital Association (AHA)'s 'Fast Facts on US Hospitals, 2022' report indicated that the number of active hospitals in the United States increased from 5,534 in 2016 to 6093 in 2022. A steep rise in the volume of hospitals and increasing hospital admissions is expected to increase the surgical procedures and availability of devices used for the same. This is expected to drive the demand for the use of surgical devices for surgeries. This factor is expected to boost the market's growth.
Furthermore, market players are focusing on developing novel medical devices to satisfy users' needs. For instance, in October 2022, Olympus Corporation launched THUNDERBEAT(TM) Open Fine Jaw Type X surgical energy devices for open surgery in the United States. Additionally, in August 2021, Orthopaedic Implant Company announced the FDA clearance and commercially launched the DRPx System, a wrist fracture plating technology. The system features an enhanced ergonomic design to meet the technique preferences of orthopedic surgeons with a cost-effective approach. Moreover, according to WPLG INC, data published in May 2022, an estimated 900,000 knee replacements are performed annually in the United States.
Therefore, owing to the above-mentioned factors such as the increasing burden of disorders that require surgeries and the new product launches, the market studied is expected to witness strong growth over the forecast period.
