Global Market Research Insights Report: July 2017

Monday 31 July 2017

Stearic Acid Market is expected to reach USD 11.01 billion by 2022

Global stearic acid market is expected to reach USD 11.01 billion by 2022, according to a new study by Grand View Research, Inc. Increasing penetration of organic chemicals across personal care products such as shaving creams, shampoos and soaps is expected drive the global stearic acid market. Benefits such as enhanced shelf life, versatility, excellent binding & thickening properties and stability, as a base for cosmetics are anticipated to strengthen its demand over the forecast period. Powerful surfactant and cleansing properties that assist removal of dirt and oil in the skin are slated to fuel its demand in soaps and detergents. Favorable regulations such as Nutritional Labeling and Education Act (NLEA) of 1990, permitting use of saturated fatty acids in food additives are also expected to impact its demand positively. Hazards related to toxicity coupled with volatile raw material prices are expected to remain a key challenge for market participants.

Soaps & detergents emerged as the largest application segment and accounted for 28.9% of the total market volume in 2014. Growing detergents industry in emerging economies may be attributed for high level of market penetration in the segment.

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Further key findings from the study suggest:

Global stearic acid demand was 5,744.3 kilo tons in 2014 and is expected to reach 8,129.9 kilo tons by 2022, growing at a CAGR of 4.5% from 2015 to 2022.
Personal care is projected to witness the fastest growth of 5.1% over the forecast period. Growth of personal care industry in Asia Pacific and Latin America is expected to drive this segment over the forecast period. Surging organic personal care and cosmetic products demand is also estimated to fuel stearic acid demand.
Growing application scope across various niche segments including metal processing, candle manufacturing, and pharmaceuticals is also expected to drive global stearic acid industry growth in near future.
Asia Pacific was the largest regional market and accounted for 42.7% of total volume in 2014. Asia Pacific stearic acid market is characterized by rapid industrialization coupled with rising disposable income level particularly in India, China and Indonesia. These factors may be attributed to the rising product demand across various application segments in the region.
Major companies operating in global stearic acid market include The U.S. Chemical Company LLC., BASF, AkzoNobel, Emery Oleochemicals, Wilmar International, Godrej Industries, Oleon, Pacific Oleochemicals Sdn Bhd, Kao Chemicals, and Kuala Lumpur Kepong (KLK).

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About Grand View Research:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

Armored Vehicle Market is expected to reach USD 26.79 billion by 2022

The global armored vehicle market is expected to reach USD 26.79 billion by 2022, according to a new report by Grand View Research, Inc. Increasing defense expenditure worldwide to improve military capabilities is expected to contribute to revenue growth.

Rising internal and external terrorism activity worldwide is expected to drive industry demand over the forecast period. Technology advancements such as unmanned vehicles are expected to fuel market growth. Increased focus of government such as India, China and the U.S. will contribute to industry growth.

According to Department of Industrial Policy & Promotion (DIPP) Indian government is expected to make investment of USD 130 billion on defense forces and additional USD 110 billion on homeland security over the next seven years. Rising unrest or civil war such as civil war in Iraq may also drive the armored vehicle market.

Companies are continuously investing in R&D to drive new technology and products. Enhanced fuel efficiency and protection are key aspects for future development. Budget limitations and macroeconomic conditions may delay the ongoing or future development over the forecast period.

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http://www.grandviewresearch.com/industry-analysis/armored-vehicle-market

Further key findings from the study suggest:

APC is key product segment and estimated to grow at a CAGR of 2.5% from 2015 to 2022. They are primarily used for safer deployment of infantry to battle fields or high threat areas and can be distinguished from IFVs based on the weapons they carry. Principally, APCs are not intended to take part in direct-fire battle, but are armored to provide protection from shrapnel and small arms fire and armed for self-defense. Mine-resistant ambush protected (MRAP) market is expected to growth at a CAGR of over 2.5%.
Armored vehicles can be used to enhance defense capabilities, maintain homeland security, and for commercial applications. Homeland security works to prevent terrorist attacks with the country, reduce the vulnerability to terrorism, and minimize the damage from attacks that do occur.
Asia Pacific armored vehicle market is estimated to be the key regional segment and accounted for over 30% of the overall revenue share in 2014. Rising defense budget of countries and increase in border or terrorism threats in Asia Pacific is expected to contribute to regional growth over the forecast period. North America armored vehicle market is estimated to hold over 25% of overall revenue share by 2022.
This industry is highly competitive, key industry participants include BAE Systems, General Dynamics Corporation, Elbit Systems, INKAS, International Armored Group, Krauss-Maffei Wegmann, Iveco, Rheinmetall Ag, Lenco Industries, Inc, and Lockheed Martin.
In September 2015, BAE Systems announced that it delivered the first production series ARCHER artillery system to the Swedish Defense Materiel Administration (FMV). Lenco Industries’ Bearcat and BEAR are used as military counter attack and rescue automobile; they are also used as patrol automobile on a military base or in urban environment.

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Erectile Dysfunction Drugs Market is expected to reach USD 3.2 billion by 2022

The global erectile dysfunction drugs market is expected to reach USD 3.2 billion by 2022 according to a new report by Grand View Research Inc. Rising adoption of sedentary lifestyle and increasing prevalence of conditions causing erectile dysfunction such as stress, hypertension, and related medications are the key factors expected to widen the target population base for this market.

However, the market is estimated to witness decline in revenue over the forecast period. Expiration of key drugs from 2017 to 2019 is likely to curb revenue growth. On the other hand, the market is likely to open up new avenues for the generic manufacturers to capitalize on. The increasing risk of sexually transmitted diseases, narrowing of insurance coverage for erectile dysfunction treatment, growing threat from counterfeit drugs, and presence of social stigma in developing countries are some factors limiting penetration rates.

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http://www.grandviewresearch.com/industry-analysis/erectile-dysfunction-drugs-market

Further key findings from the study suggest:

Viagra accounted for over 47.0% of the total revenue in 2014. It is generally considered as the first line of treatment for erectile dysfunction. Brand loyalty and advantages associated with this drug such as high efficacy, and effectiveness are the major factors attributing for its large market share.
Cialis (tadalafil) from Eli Lilly & Co. and Levitra (vardenafil) from Bayer AG are known to be the competitors for Viagra globally. Cialis (tadalafil) was approved in 2003 by the U.S. FDA, as a prescription drug in the U.S. Cialis is also known as “The Weekend Pill” owing to its 36-hour effectiveness.
After the patent expiration of key drugs such as Cialis (tadalafil) in 2017 and Levitra (vardenafil) in 2018, other drugs such as Stendra/Spedra, Zydena (udenafil), and Vitaros (Alprostadil Cream) are expected to capture the market share during the forecasts period.
North America constituted the largest share of approximately 55.0% in 2013 of the total erectile dysfunction market. Extension of patent exclusivity rights for Viagra (sildenafil citrate) in the U.S. till 2019 along with introduction of new erectile dysfunction drugs such as Zydena (udenafil) and Stendra/Spedra (avanafil) will be the major factors responsible for market growth during the forecasts period.
Asia Pacific accounted for a revenue share of over 16.5% in 2012 owing to the presence of a lucrative market for generic drugs, untapped opportunities, and increasing awareness related to erectile dysfunction in this region
Apricus Biosciences Inc., Cristalia Produtos Quimicos Farmaceuticos Ltd., Bayer AG, Dong-A Pharmaceutical Co. Ltd., Meda Pharmaceuticals, Inc., Eli Lilly and Company, Pfizer, Inc., S.K. Chemicals Co. Ltd., and Vivus, Inc. are some major players of this market
Extensive R&D carried out by companies and high unmet needs in developing economies are expected to boost industrial growth. Key manufacturers are targeting regions with unmet clinical needs by entering into agreement with local manufacturers and distributors. Key players are constantly engaged in developing novel drugs in an attempt to improve the presence and ensure sustainability.

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Composites Market is expected to reach USD 130.84 billion by 2024

The global composites market is expected to reach USD 130.84 billion by 2024, according to a new report by Grand View Research, Inc. Growing demand for composites in various applications including transportation, aerospace & defense, electrical & electronics, wind energy, construction & infrastructure, pipes & tanks, and marine is expected to drive market growth over the forecast period. The development of these end-user application segments is projected to fuel the industry expansion further.

Electrical & electronics accounted for 16.4% of the global volume market share in 2015. These materials are being increasingly used in electrical & electronics owing to their high arc resistance properties and dielectric strength. Growing demand for electronic gadgets, particularly wearable electronics, is expected to augment growth.

Transportation was the largest application of composites and is projected to witness significant gains at a CAGR of 7.5% from 2016 to 2024. The increase in road networks, especially in Asia Pacific, is expected to result in stimulating the growth of the market over the forecast period.

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http://www.grandviewresearch.com/industry-analysis/composites-market

Further key findings from the study suggest:

The glass fiber market was estimated at USD 41.88 billion in 2015 and is projected to dominate the global composites market over the forecast period. Owing to its weather-resistant, surface texture varieties and lightweight properties, the global market for GFRP is projected to account for the largest share. Key market players are investing in the production of glass fibers especially in emerging countries such as India, Brazil and China owing to the growing demand from various application industries such as automotive, aerospace & defense, wind energy, and transportation.
North America is expected to witness a significant growth at a CAGR of 6.8% from 2016 to 2024 in terms of value. The automotive industry in this region has witnessed a significant growth in the recent years in terms of profitability and growth which has attributed to increasing the production of the auto sector. Furthermore, growing production of light commercial vehicles is expected to propel the growth of composites market over the forecast period.
Carbon fiber composites segment is supposed to create an avenue in the automotive industry owing to the high-value application and technological advancements. The segment accounted for 34.3% of the global market size in 2015. The major composites manufacturers are emphasizing on the expansion of production capacities and R&D activities to reduce the cost of CFRP.
Key industry players include Owens Corning, Toray Industries Inc., TenCate NV, SGL Carbon, Cytec Industries, Compagnie De Saint-Gobain, and Jushi Group Co. Ltd. These companies are focused on R&D activities to launch innovative products to strengthen their composites product portfolio and enhance their market presence.

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Friday 28 July 2017

Dietary Supplements Market is expected to reach USD 278.02 billion by 2024

The global dietary supplements market is expected to reach USD 278.02 billion by 2024, according to a new report by Grand View Research, Inc. Favorable outlook towards medical nutrition market in light of increasing application for the treatment of malnutrition and cardiovascular disorders is likely to promote the market for dietary supplements.

Rising sales of sports nutrition products in the U.S. and China on account of increasing prevalence of fitness and sports at a domestic level along with new product launches is likely to have a significant impact on the industry over the projected period. The market is expected to generate revenues worth USD 37.16 billion by 2024.

Rising consumption of clinical nutrition products as a prevention medium for reducing malnutrition is expected to have a substantial impact. Furthermore, increasing prevalence of premature births on a global level is expected to promote the use of medicinal supplements over the forecast period. The market was worth USD 19.17 billion in 2015 and is projected to witness growth at a CAGR of 9.5% from 2016 to 2024.

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http://www.grandviewresearch.com/industry-analysis/dietary-supplements-market

Further key findings from the study suggest:

The market for dietary supplement capsules was valued at USD 26.42 billion in 2015. The increasing use of omega-3 fatty acids in the formulation of dietary supplement capsules is expected to have a positive impact over the forecast period.
Amino acid-based dietary supplements accounted for 14.3% of the market share in 2015 and is projected to witness significant growth on account of increasing protein intake by bodybuilders and sports athletes
Gel caps and soft gels together accounted for 13.2% of the overall market in 2015. These products are expected to witness growth on account of their increasing application in confectionaries including chocolates, candies, and desserts.
Asia Pacific is projected to growth at a CAGR of 11.2% from 2016 to 2024. Rising sales of green juice, royal jelly, blueberries, chlorella, and black vinegar in Japan owing to increasing awareness towards natural products is expected to promote the use of nutritional supplements over the forecast period.
North America accounted for 28.5% of the total market in 2015 and is projected to witness growth on account of increasing consumption of products with reduced calorie level and high nutritional content
Key participants include Amway Corporation, Pfizer Pharmaceuticals, Abbott Laboratories, Herbalife International, ADM, DuPont, and Carlyle Group. In April 2016, Amway Inc. launched a new sports nutrition energy drink under the brand name, XS Sports Nutrition line. This type of product innovation is expected to force manufacturers to develop new products over the next eight years.

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Europe Polyurethane Market is expected to reach USD 26.24 billion by 2024

Europe polyurethane (PU) market is expected to reach USD 26.24 billion by 2024, according to a new report by Grand View Research, Inc. Growing need for sustainable construction in the region is a key driving factor for industry growth.

The industry is primarily driven by growth in end-use industries such as construction, automotive & transportation and furniture & bedding. Reinforcement of construction industry in the European region is anticipated to be the key driving factor over the forecast period. Eastern European countries such as Hungary, Poland and Slovakia are anticipated to witness significant growth regarding construction spending which in turn is expected to drive rigid polyurethane foam demand.

Rigid foam was the highest consumed product and accounted for over 30% of the European market volume in 2015. EU regulations towards energy efficiency of households and financial incentives aimed at improving insulation and cutting down on energy costs is expected to drive the product’s growth. It is also expected to witness the highest growth of 4.0% over the forecast period.

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http://www.grandviewresearch.com/industry-analysis/europe-polyurethane-pu-market

Further key findings from the study suggest:

Europe polyurethane market size was 4.91 million tons in 2015 and is expected to reach 6.90 million tons by 2024, growing at a CAGR of 3.8% from 2016 to 2024.
Construction was the largest consumer of polyurethanes and accounted for over 35% of the overall volume in 2015. Electronics & appliances is expected to witness the highest growth of 5.3% over the forecast period.
Germany was the leading consumer with demand share estimated at 17.4% in 2015. Being a major automotive manufacturing hub and exporter of passenger cars, rigid foams were the dominant product consumed in the country. The product accounted for nearly 30% of Germany’s PU consumption in 2015.
Russia is expected to witness the highest growth of 4.3% over the forecast period. High construction output and growth of automotive industry is expected to drive the regional market.
Key players operating in Europe PU market include BASF, The Dow Chemical Company, Bayer Material Science, Huntsman Corporation, Nippon Polyurethane Corporation Ltd., Foamex International and Evonik Industries.

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About Grand View Research:

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Grand View Research, Inc

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

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Thursday 27 July 2017

Contraceptives Market is expected to reach USD 30.86 million by 2022

Global Contraceptives Market is expected to reach USD 30.86 million by 2022, according to a new study by Grand View Research Inc. Growing prevalence of sexually transmitted infections (STIs), especially HIV and the introduction of new products exhibiting improved efficacy are expected to drive the contraceptives market over the forecast period. The presence of high unmet contraceptive needs coupled with the implementation of favorable government policies is expected to significantly contribute towards the growth of the contraceptives industry.

In 2014, contraceptives device was the largest product segment with revenue estimated at over USD 12.0 billion. Devices such as condoms and contraceptive sponges, which are relatively inexpensive and easy to use, are expected to spearhead market growth over the forecast period. Female condoms are also expected to gain penetration rates over the next seven years. Growing user awareness levels and improving product availability are two key factors expected to drive segment growth.

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http://www.grandviewresearch.com/industry-analysis/contraceptives-market

Further key findings from the study suggest:

Condoms are identified as the most lucrative sub segment of the contraceptive devices market. Low prices and abundant product availability are two key factors expected to drive the condoms market over the forecast period. The fact that, condoms are effective in preventing sexually transmitted diseases and unwanted pregnancies is also expected to boost usage rates.
Intrauterine devices, especially hormonal IUDs are expected to experience attractive growth over the forecast period. Growing demand for Mirena, Jaydess and Skyla and the commercialization of Liletta is expected to further drive segment growth.
The North American contraceptives market accounted for the largest revenue share in 2014. Presence of sophisticated healthcare infrastructure, high user awareness levels and abundant product availability are key factors attributing to the region’s market position.
Latin America is expected to spearhead future market growth. Numerous government programs and free distribution of samples within the region are expected to help manufacturers capitalize on the available opportunities.
Asia Pacific is also expected to witness substantial growth during the forecast period owing to, rapidly rising population levels and the consequent rise in demand for contraception. Presence of government initiatives in countries such as India, China, Sri Lanka, Pakistan, and Bangladesh aimed at slowing down population growth and prevalence of STDs are expected to promote market growth.
Key players of the contraceptives market include Reckitt Benckiser Plc, Mayer Laboratories, Actavis Plc, Church & Dwight, Pfizer Inc., Merck & Co., The Female Health Company and Teva Pharmaceuticals.

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Monday 24 July 2017

Maleic Anhydride Market is anticipated to reach USD 4.11 billion by 2024

The global maleic anhydride market is anticipated to reach USD 4.11 billion by 2024, according to a new report by Grand View Research, Inc. Rising UPR demand in various end-use industries including construction and automotive is expected to drive growth over the next eight years.

Growing maleic anhydride demand for additives manufacturing for fuel oils and lubricants is expected to drive market growth in near future. N-butane is the preferred raw material in MAN manufacturing owing to low cost, high productivity, less complex production process, and environment-friendly nature.

The majority of product produced globally is utilized for the production of UPR. The application segment accounted for 50.5% of the total demand in 2015. Growing construction, automotive and marine industry, especially in BRICS economies is expected to drive demand over the next eight years.

BDO is anticipated to witness the fastest growth over the next eight years owing to wide acceptance of the product in manufacturing synthetic chemicals such as polyurethane and tetrahydrofuran. The segment is anticipated to reach a net revenue of USD 435.9 million in China market by 2024, growing at an estimated CAGR of 8.7% from 2016 to 2024.

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Further key findings from the study suggest:

The global maleic anhydride market demand was 1,845.0 kilo tons in 2015 and is expected to reach 2,987.2 kilo tons by 2024, growing at a CAGR of 5.5% from 2016 to 2024
Asia Pacific was the leading regional market with demand share estimated at 57.6% in 2015. In addition, the region is expected to grow at fastest rates over the next eight years owing to increasing UPR consumption in construction and automotive industries particularly in China, India, and Indonesia.
North America maleic anhydride demand accounted for 14.7% of the global volume in 2015.The U.S. MAN market is estimated to grow at a CAGR of 4.7% to reach a total demand of 327.4 kilo tons by 2024.
Central & South America MAN demand in lubricant and oil additives is anticipated to reach a net worth of USD 22.6 million by 2024. Significant developments in lubricant and fuel oil industries coupled with technological advancements are expected to steer demand in the sector.
Major players operating in the industry include Huntsman, DSM NV, Lanxess AG, Yabang Jiangsu, Nippon Shokubai Co Ltd, Polynt SpA, Ashland Chemical Co, and Flint Hills Resources.

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Grand View Research, Inc

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Bioinformatics Services Market is anticipated to reach USD 4.1 billion by 2024

Global bioinformatics services market is anticipated to reach USD 4.1 billion by 2024, according to a new report by Grand View Research, Inc. Growing adoption of I.T. solutions for different studies such as cell signaling, pathway metabolism, gene-receptor interactions, and target differentiation are expected to support growth in this market over the forecast period.

Owing to the benefits associated with the use of informatic solutions for laboratory protocol generation and data management as well as analysis, these solutions are projected to witness substantial demand in the coming years.

Moreover, collaborative activities undertaken by the information technology companies with pharmaceutical companies and clinical research organizations in order to develop and update key technologies linked to cloud computing, like online data storage and visualization of computer resources are expected to enhance market potential through to 2024.

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http://www.grandviewresearch.com/industry-analysis/bioinformatics-services-market

Further key findings from the study suggest:

NGS is estimated to be the dominant segment with respect to the type of service served in 2015 owing to the fact that sequence-based approach of analysis can be cataloged with the structure-based approach as complementary to genomic and proteomic approaches. Advancement in the sequencing technologies such as NGS and scripting tools (Perl & Python) for sequence manipulation coupled with the reduction in prices of the sequencing platforms and market movement towards the USD 1,000 genome resulted in a larger revenue share of this segment in the discovery informatics.
Market revenue from of chemoinformatics is second only to NGS and its strong market position can be accounted for by presence of several entities operating in this segment and their involvement in the provision of lead identification, validation, assay development, lead generation, optimization, and clinical trial based informatic solutions.
Depending on the application, transcriptomics is anticipated to register the fastest growth of over 15% owing to rise in the number of projects carried out in translational research and application of RNA transcripts for studying etiology of chronic as well as acute diseases.
Academic sector, in terms of end-use for these services, is expected to witness the fastest growth through to 2024 as a result of rise in the adoption rate of these technologies in genomic, proteomic and metabolomics research programs carried out by universities research institutes. If not all, most of these programs are either backed through government funding or private corporation backing and forms a considerable part of the high R&D investment that the bioinformatics market attracts in the current scenario.
North America dominated the industry in 2015, accounting for a little 35% of total revenue. Presence of key participants operating in the region which are involved in development of novel algorithms and software in order to improve drug attrition rates which consequently increases adoption rate of computational algorithms is attributive for the largest share of North America in sector revenue. Demand for informatic services in Europe is also increasing owing to the presence of universities in Germany and UK that are involved in development of I.T. solutions for pharmaceutical research.
Asia Pacific is estimated to witness the fastest growth over the forecast period owing to the fact that government and regulatory authorities have implemented a framework to encourage R&D collaborations and framework extension. Active expansion strategies undertaken by a number of the major market entities operating in the American market in order to strengthen their position in Asia Pacific region is a factor anticipated to consequently drive growth.
Key players operating in this industry include Agilent technologies, Siegen Inc., GVK Biosciences, Accelerys Inc, Illumina Inc., DNAnexus, Life Technologies Corporation, Geneva Bioinformatic, Celera Corporation, IBM Life sciences, and Affymetrix.
These entities are adopting strategies such as collaborations with pharmaceutical and biotechnology companies in order to enhance industrial presence by providing different data management and analytical services for the purpose of drug design and therapeutic monitoring.

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North America Polyurethane Market is expected to reach USD 19.18 billion by 2024

North America polyurethane (PU) market is expected to reach USD 19.18 billion by 2024, according to a new report by Grand View Research, Inc. Rising concerns regarding energy efficiency in the region is a key driving factor for industry growth. Growth dynamics of the industry are expected to be heavily influenced by trends in major end-use industries that include automotive, packaging, and construction coupled with the shift towards lightweight products, especially in miniaturized electronic gadgets. Technological advancements along with a shift in preference towards aesthetic, yet environmentally sustainable products are likely to positively influence the market.

Rigid foams were the leading product segment and accounted for over 33% of the overall volume in 2015. The shift towards sustainable construction practices and consumer awareness regarding thermal insulation as a means of energy conservation are expected to be major driving factors for the product’s growth.

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http://www.grandviewresearch.com/industry-analysis/north-america-polyurethane-market

Further key findings from the study suggest:

North America polyurethane (PU)market demand was 3.61 million tons in 2015 and is expected to reach 5.21 million tons by 2024, growing at a CAGR of 4.2% from 2016 to 2024
Cast polyurethanes were the highest consumed elastomers with their overall volume estimated at over 130 kilo tons in 2015. Critical applications of these elastomers include prototyping and tooling in the automotive industry.
Electronics and automotive industries present majority of the growth opportunities for the U.S. market with both the segments expected to collectively account for over 27% of the volume by 2024. Recovery of automotive production landscape as a result of export demand is a major factor for growth.
U.S. was the leading consumer with market revenue estimated at over USD 9,900 million in 2015. Federal government initiatives to improve the insulation of low-income households to reduce energy demand is a key factor driving rigid foams consumption in the U.S.
Mexico is a high growth potential market in North America and is expected to register a volumetric growth of over 5.5% from 2016 to 2024. The industry in Mexico is characterized by high requirement for foams & adhesives in construction, automotive, packaging and furniture applications.
Key players operating in North America PU market include BASF, The Dow Chemical Company, Bayer Material Science, Huntsman Corporation, Tosoh America, Inc., Mitsui Chemicals America, Inc. and Alchemie Ltd.

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Grand View Research, Inc

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Orthopedic Devices Market is expected to reach USD 43.1 billion by 2024

The global orthopedic devices market is expected to reach USD 43.1 billion by 2024, according to a new report published by Grand View Research, Inc. Major drivers of the market include the rising demand for orthopedic surgeries owing to the growth in road accidents and the prevalence of orthopedic diseases.

The introduction of new products made of materials, such as various types of ceramics and polymers, has led to a rise in the success rates of surgeries. In addition, these products are available at affordable costs and customizable sizes and shapes. As a result, the adoption of these advanced products is swiftly increasing. In addition, the rising geriatric population prone to orthopedic diseases, such as osteoporosis and arthritis, is augmenting the growth of the market.

Hip and knee applications together accounted for the largest market share in 2015. A relatively high rate of hip and knee replacement surgeries coupled with the constant innovations in the treatment of hip and knee injuries is contributing towards the growth of these application segments.

Stringent regulatory approval procedures are the prime factors restraining the growth of the market. In addition, a high device cost and expensive surgical costs are some other factors impeding the market growth.

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http://www.grandviewresearch.com/industry-analysis/orthopedic-devices-market

Further key findings from the study suggest:

The knee orthopedic devices segment captured the largest share of the market in 2015. This was attributed to the factors such as a high rate of knee surgeries including common knee injuries to total knee replacements.
The hip orthopedic devices segment was the second largest market in 2015. The large portfolio for hip injury management is expected to result in a significant share in the global market.
North America captured the largest market share of 51.4% in 2015 and is expected to maintain its dominance over the forecast period. The presence of a large number of major market players and a high adoption rate of advanced technologies are the factors driving the growth of the market in the region.
The Asia Pacific market is expected to witness a lucrative CAGR of 8.6% during the forecast period. The presence of a large untapped market and the availability of supportive government regulations are expected to attract the attention of the global players.
Some major players in the orthopedic devices market include NuVasive, Inc., Medtronic PLC, Zimmer-Biomet Holdings, DePuySynthes, Stryker, Aesculap Implant Systems, LLC, Donjoy, Inc., and Conmed Corporation

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About Grand View Research:

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Grand View Research, Inc

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Email: sales@grandviewresearch.com

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