India Orthopedic Devices Market Growth Forecasts Indicate a 5% CAGR Through 2033
India Orthopedic Devices Market Trends
India orthopedic devices market is witnessing a significant uptick, with a projected growth rate of 5% CAGR through 2033, according to forecasts by GlobalData.
Rising Demand for Orthopedic Devices
Driven by an aging population and rising incidences of orthopedic disorders, the demand for orthopedic devices is escalating. Joint replacements are particularly in high demand, reflecting a critical market need.
- High obesity rates contributing to orthopedic issues.
- Increased road accidents leading to musculoskeletal conditions.
- Healthcare awareness and growing medical tourism are fueling market expansion.
Market Opportunities and Collaborations
Despite rapid growth, India's orthopedic sector remains underserved. International collaborations are essential for expanding access to advanced orthopedic care and boosting the quality of devices available in the region.
Recent agreements have been established, such as Alkem MedTech collaborating with Exactech for manufacturing and marketing large joint replacement implants in India. This partnership leverages foreign expertise to enhance local capabilities.
Technological Innovations in Orthopedics
Advancements in implant materials and augmented reality integration are gaining momentum in the Indian orthopedic market. As the sector evolves, a focus on cutting-edge technologies will be essential for improving orthopedic care.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.