Orthopedic Implants Market Depth Analysis By Statistics, Industry Size Report 2020
The global orthopedic implants market size is set to touch USD 64.0 billion by 2026, exhibiting a modest CAGR of 4.1% during the forecast period. Unprecedented rise in geriatric population across the globe to be the key growth driver of this market. According to the United States Census Bureau (USCB), the proportion of aged people to the total world population is steadily climbing. For example, in 2012, world population had reached 7 billion and the people aged 65 and above were 8% of this number or 562 million. In 2015, the number rose by 55 million, with the percentage increasing to 8.5% of the total population in a span of 3 years. The USCB predicts that between 2025 and 2050, this geriatric population will double to reach 1.6 billion, whilst the total population will grow only by 34%.
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