Canada Orthopedic Devices Market Size & Outlook, 2023-2030
Canada orthopedic devices market, 2018-2030 (US$M)
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Canada orthopedic devices market highlights
- The Canada orthopedic devices market generated a revenue of USD 1,874.8 million in 2023 and is expected to reach USD 2,344.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 3.2% from 2024 to 2030.
- In terms of segment, joint replacement/ orthopedic implants was the largest revenue generating product in 2023.
- Orthobiologics is the most lucrative product segment registering the fastest growth during the forecast period.
Orthopedic devices market data book summary
| Market revenue in 2023 | USD 1,874.8 million |
| Market revenue in 2030 | USD 2,344.5 million |
| Growth rate | 3.2% (CAGR from 2023 to 2030) |
| Largest segment | Joint replacement/ orthopedic implants |
| Fastest growing segment | Orthobiologics |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Joint Replacement/ Orthopedic Implants, Trauma, Sports Medicine, Orthobiologics |
| Key market players worldwide | Medtronic PLC, Stryker Corp, Zimmer Biomet Holdings Inc, DePuy Synthes, Smith & Nephew PLC, Aesculap, Conmed Corp, NuVasive, Enovis Corp |
Other key industry trends
- In terms of revenue, Canada accounted for 3.1% of the global orthopedic devices market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. orthopedic devices market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 2,344.5 million by 2030.
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Orthopedic Devices Market Scope
Orthopedic Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada orthopedic devices market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to orthopedic devices market will help companies and investors design strategic landscapes.
Joint replacement/ orthopedic implants was the largest segment with a revenue share of 40.9% in 2023. Horizon Databook has segmented the Canada orthopedic devices market based on joint replacement/ orthopedic implants, trauma, sports medicine, orthobiologics covering the revenue growth of each sub-segment from 2018 to 2030.
An increase in incidence of road accidents and sports injuries is contributing to the growth of the Canada orthopedic devices market. According to Statistics Canada, over 15% of Canadians suffer an injury serious enough to prevent them from engaging in regular activities.
An average of 35% of injuries occur while a person is participating in a sport or fitness activity. In addition, there is a high prevalence of diseases such as osteoporosis and arthritis in the country. According to Osteoporosis Canada, more than 2.3 million Canadians suffer from osteoporosis. It is the root cause of more than 80% of fractures in adults over the age of 50 years.
In addition, rising disposable incomes and increasing R&D spending by various pharmaceutical companies are encouraging market expansion. However, frequent product recalls, unfavorable political reforms, and economic downturn are expected to impede the market.
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Our clientele includes a mix of orthopedic devices market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada orthopedic devices market , including forecasts for subscribers. This country databook contains high-level insights into Canada orthopedic devices market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada orthopedic devices market size, by product, 2018-2030 (US$M)
Canada Orthopedic Devices Market Outlook Share, 2023 & 2030 (US$M)
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