Artificial Intelligence
Orthopedic Devices Market to Rise at 6.6% CAGR and Reach USD 68.51 Billion by by 2027; Increasing Prevalence of Musculoskeletal Disorders will Emerge in Favor of Market Growth, says Fortune Business Insights™
Pune, Oct. 19, 2020 (GLOBE NEWSWIRE) — The global orthopedic devices market size is projected to reach USD 68.51 billion by the end of 2027. The increasing investments in product R&D will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Orthopedic Devices Market Size, Share & COVID-19 Impact Analysis, By Type (Joint Reconstruction Devices, Spinal Devices, Trauma Devices, Orthobiologic Devices, Arthroscopy Devices, and Others), By End User (Hospitals, Orthopedic Clinic, Ambulatory Surgical Centers, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 53.44 billion and will exhibit a CAGR of 6.6% during the forecast period, 2020-2027.
Orthopedic devices are used in treatment and prevention of deformities that are formed in the musculoskeletal systems in humans. The increasing prevalence of osteoporosis, coupled with the rise in musculoskeletal disorders across the world will lead to an increase in the demand for the product.
The presence of several large-scale orthopedic device manufacturers across the world will emerge in favor of market growth. Increasing number of surgical procedures that involve orthopedic implants will create several growth opportunities for the companies operating in the sector. The increasing investments in the research and development of efficient orthopedic devices will bode well for the growth of the market in the coming years.
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Highlights of the Report:
- Analysis of the impact of Covid-19 that the market would face in the near future.
- In-depth analysis of the growth drivers and obstacles.
- Profile of all the companies operating in the market.
- Elaborate data about the dominating region.
- Competitive landscape consisting of mergers & acquisitions, investments, partnerships, new product launches, opening of new facilities, and new contracts.
COVID-19 Pandemic to Delay Orthopedic Surgical Procedures
The recent coronavirus outbreak has had a negative impact on several industrial sectors across the world. Accounting to the rapid spread of the disease, governments in several countries have implemented strict measures to control the virus. These measures have had a drastic impact on medium and small scale businesses and evidently, only larger businesses have been able to sustain the negative traits of the pandemic.
The delays in elective surgical procedures will restrict the growth of the orthopedic devices market in the coming months. Having said that, the efforts taken to unlock lockdowns and restore normality will bring relief to the companies in this sector.
Click here to get the short-term and long-term impact of COVID-19 on this market.
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Increasing Number of Company Mergers will Emerge in Favor of Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the increasing number or orthopedic surgical procedures across the world, there has been an increase in the demand for the product. This has resulted in a healthy market competition. As a result, companies are looking to adopt strategies such as collaborations and mergers with other businesses in this sector, with the aim of establishing a strong brand presence.
In September 2019, Medical Devices Business Services, Inc. announced that it has signed an agreement with JointPoint Inc. for its takeover. Through this the company will gain access to the latter’s exceptional portfolio of surgical software. Increasing number of such large scale acquisitions will emerge in favor of market growth.
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North America to Emerge Dominant; Increasing Number of Orthopedic Surgical Procedures will Emerge in Favor of Market Growth
The report analyzes the ongoing market trends across North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America. Among all regions, the market in North America is projected to emerge dominant in the coming years. The increasing prevalence of musculoskeletal disorders, coupled with the rising number of orthopedic surgeries will emerge in favor of market growth.
As of 2019, the orthopedic devices market in North America was worth USD 24.74 billion and this value is projected to rise at a considerable pace in the coming years. Besides North America, the market in Europe will rise at a considerable pace driven by increasing awareness towards the adoption of advanced orthopedic surgical procedures in countries such as Germany, France, and the UK.
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List of companies profiled in the report:
- Stryker (Kalamazoo, U.S.)
- Johnson & Johnson Services, Inc. (New Jersey, U.S)
- Zimmer Biomet (Warsaw, U.S.)
- Smith & Nephew (Hertfordshire, U.S.)
- Medtronic (Dublin, Ireland)
- NuVasive, Inc. (California Inc.)
- Arthrex Inc. (Florida, U.S.)
- Globus Medical (Pennsylvania, U.S.)
- Össur Corporate (Reykjavik, Iceland)
- Integra LifeSciences (New Jersey, U.S.)
- Other prominent players
Industry Developments:
September 2019: Medical Devices Business Services, Inc. announced that it has signed an agreement with JointPoint Inc. for its takeover. Through this the company will gain access to the company’s exceptional portfolio of surgical software.
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Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Orthopedic Diseases by Key Countries/Region
- Key Industry Developments – Mergers, Acquisitions, Partnerships & New Product Launch
- Overview of New Product Launches
- Regulatory and Reimbursement Scenario by Key Countries/Region
- Impact of COVID-19 on Orthopedic Devices Market
- Global Orthopedic Devices Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Joint Reconstruction Devices
- Knee
- Hip
- Extremeties
- Spinal Devices
- Spinal Fusion Devices
- Spinal Non- Fusion Devices
- Trauma Devices
- Arthroscopy Devices
- Orthobiologic Devices
- Others
- Joint Reconstruction Devices
- Market Analysis, Insights and Forecast – By End User
- Hospitals
- Orthopedic Clinic
- Ambulatory Surgical Centers
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Have a Look at Related Reports:
Orthopedic Implants Market Share & Industry Analysis, By Product (Joint Reconstruction; Spinal Implants; Trauma Implants, Dental Implants; Orthobiologics, and Others) End-user (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others) and Regional Forecast, 2019-2026
Orthobiologics Market Share and Global Trend by Product Type (Viscosupplements, Bone Growth Stimulators, Demineralized Bone Matrix, Synthetic Bone Substitutes, Stem Cells, Allografts), Application (Spinal Fusion, Maxillofacial & Dental, Soft Tissue Repair, Reconstructive & Fracture Surgery), End User (Hospitals, Ambulatory Surgical Centers, Speciality Clinics) and Geography Forecast till 2025
Spinal Devices Market Share & Industry Analysis, By Product Type (Fusion Devices (Cervical Devices, Thoracolumbar Devices, Interbody Devices, and Biologics), Non-Fusion Devices (Vertebral Compression Fracture Devices, Artificial Discs, Dynamic Stabilization Devices, and Others), and Stimulation Devices) By Disease Indication (Degenerative Disc Disease, Complex Deformity, Traumas & Fractures, and Others), By End User (Hospitals & Ambulatory Surge
Trauma Implants Market Share & Industry Analysis, By Product (Metal Plates & Screws, Pins/Wires, Nails & Rods, and Others) End-user (Hospitals, Orthopedic Clinics, Ambulatory Surgical Centers, and Others) and Regional Forecast, 2019-2026
Hip Replacement Market Share & Industry Analysis, By Procedure (Total Hip Replacement, Partial Hip Replacement, and Revision & Hip Resurfacing), By End User (Hospitals & Ambulatory Surgery Centers, Orthopedic Clinics, and Others) and Regional Forecast, 2019-2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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Press Release: https://www.fortunebusinessinsights.com/press-release/orthopedic-devices-market-9738
Artificial Intelligence
Aetina Accelerates Embedded AI with High-performance, Small Form-factor Aetina IA380E-QUFL Graphics Card
TAIPEI, April 25, 2024 /PRNewswire/ — Aetina, a leading Edge AI solution provider, announced the launch of the Aetina IA380E-QUFL at Embedded World 2024 in Nuremberg, Germany. This groundbreaking product is a small form factor PCIe graphics card powered by the high-performance Intel Arc A380E GPU.
Unmatched Power in a Compact Design
The Aetina IA380E-QUFL delivers workstation-level performance packed into a low-profile, single-slot form factor. This innovative solution consumes only 50W, making it ideal for space and power-constrained edge computing environments. Embedded system manufacturers and integrators can leverage the power of 4.096 TFLOPs peak FP32 performance delivered by the Intel Arc A380E GPU[1].
Beyond Small Size: Big Capabilities
Despite its compact size, the IA380E-QUFL offers native support for 4 mini-DisplayPort outputs and 6GB of GDDR6 memory, enabling the connection of multiple high-resolution displays (UHD). This makes the IA380E-QUFL an excellent choice for a wide range of applications, including commercial gaming, video walls, medical imaging, and visual inference for smart cities.
“The demand for slim and energy-efficient AI systems is rapidly escalating,” said Jackal Chen, Senior Product Manager at Aetina. “The Aetina IA380E-QUFL addresses this need head-on, offering a powerful GPU solution in a compact, single-slot form factor with minimal power consumption. This empowers developers to create powerful and efficient edge systems for a wide range of applications.”.
Unparalleled Commitment: 5-Year Product Supply
Acknowledging the critical need for long-term product stability in industrial applications, Aetina ensures a 5-year product supply for the Aetina IA380E-QUFL, which streamlines system roadmaps and reduces the need for costly redesign. Our commitment is aligned with Intel’s announced product plans for the Intel Arc A380E GPU.[1]
[1]https://www.intel.com/content/www/us/en/content-details/820389/intel-arc-gpu-for-the-edge-public-30-3-30.html?wapkw=Intel%20Arc%20GPU%2030-3-30&DocID=820389 Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.
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Artificial Intelligence
IG Canada Announces Enhanced Trading Platform for Enhanced User Experience
Meta description : Explore IG Canada’s advanced trading platform, educational resources, and robust security features. Achieve your trading goals with the innovative tools.
NOTTINGHAM, England, April 25, 2024 /PRNewswire/ — IG Canada, a premier online trading platform, is pleased to announce significant enhancements to its trading technology, designed to empower both novice and experienced traders with superior tools and resources. This development is part of IG Canada’s commitment to providing the best trading experience in the Canadian market.
IG Canada has upgraded its platform with advanced features that streamline trading processes and improve the accuracy of trade execution. These enhancements include customizable charts, a wider range of indicators, and improved mobile access, ensuring traders can operate efficiently from anywhere at any time.
Recognizing the importance of education in trading success, IG Canada has expanded its educational resources. The brokerage now offers a comprehensive learning center featuring webinars, tutorials, and articles that cater to various skill levels. These resources are designed to help traders develop robust trading strategies and improve their market knowledge.
Security remains a top priority for IG Canada. The latest updates include enhanced encryption and multi-factor authentication to protect client data and funds. These security measures provide peace of mind for traders, knowing their investments are safeguarded against potential threats.
IG Canada is a leading online brokerage that provides trading services across multiple asset classes, including forex, stocks, commodities, and indices. With a focus on innovation and customer service, IG Canada is committed to helping Canadian traders achieve their investment goals through a transparent and efficient trading environment.
In addition, IG Canada is committed to engaging with the community through upcoming webinars, live events, and partnerships with local financial experts. These initiatives are designed not only to support the growth and education of the clients but also to foster a stronger, more connected trading community in Canada.
Press Contact:Contact Name: Timothy C. SherwinEmail: [email protected] Phone: +447 441425053
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Artificial Intelligence
Sentrycs Now Part of the UK National Protective Security Authority Catalog of Security Equipment
This inclusion into the NPSA CSE marks a significant milestone in the company’s commitment to enhancing national and international airspace security and to leading the C-UAS market toward multi-layer strategy optimization and excellence.
TEL-AVIV, Israel, April 25, 2024 /PRNewswire/ — Sentrycs, a leading innovator in adaptive counter-drone solutions, is proud to announce its inclusion in the prestigious UK National Protective Security Authority Catalogue of Security Equipment (NPSA CSE).
Following a rigorous assessment process, Sentrycs’ cutting-edge Counter Unmanned Aerial Systems (C-UAS) solution has met the high standards set by the NPSA for Detection, Tracking, and Identification (DTI). The testing, conducted at the NPSA’s designated testing facilities in August 2023, rigorously evaluated the Sentrycs system against the NPSA’s DTI Testing and Evaluation Standard v3.1.
Sentrycs elected to be assessed under Configuration D as a 3D system with Ground Control Station (GCS) detection capability and platform identification capability, which is the most demanding test scenario with the highest number of scored parameters.
The Sentrycs system demonstrated exceptional capabilities in various security scenarios, showcasing its robustness in detecting and tracking with high accuracy and zero false alarms. The system’s innovative use of cyber techniques to extract data from targets and its streamlined human-machine interface were especially noted for their efficiency and ease of use.
“Our team is proud to have Sentrycs recognized by the UK National Protective Security Authority,” said Yoav Zaltzman, CEO of Sentrycs. “Being listed in the CSE is not just an honor; it’s a testament to our technology’s reliability and effectiveness in contributing to the ever-changing airspace security landscape.”
Sentrycs’ technology is now accessible through the NPSA CSE, providing security practitioners with verified solutions that meet the UK’s rigorous security standards. This inclusion not only underscores Sentrycs’ role in advancing security technology but also enhances its visibility and credibility on a global stage.
For more details on Sentrycs’ solutions and their impact, visit www.sentrycs.com.
For further information regarding the NPSA and the Catalog of Security Equipment, please visit the NPSA’s official website.
About Sentrycs
Sentrycs is a leader in adaptive counter-drone solutions, supported by innovative technology designed to passively identify, mitigate, and where necessary, intercept unauthorized drones custom-built for various environments – including airports, borders, prisons, critical infrastructure, and mass events. Founded in 2017, Sentrycs’ has offices in Israel and the US, serving customers worldwide. By uniting its field-proven technology and expertise in global drone environments, Sentrycs is leading the way towards a safer and more secure drone-driven future. Learn more at www.sentrycs.com
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