Orthopedic devices market is witnessing growth due to increasing awareness among patients about advantages of advanced treatments and technologies such as orthobiologics and minimally invasive technologies. Increasing demand from aging population for orthopedic treatment, especially the rising incidence of osteoarthritis in the U.S. (about 25 among every 1000 people undergo a joint replacement surgery between the age of 45 and 64 years) as a consequence of obesity, along with increasing number of patients looking for artificial bone and soft tissue healing treatments have contributed to the growth of this market.

The major drivers behind the growing orthopedics market in North America include the region’s better reimbursement policies for orthopedic treatment, increased affordability, and higher adoption of upcoming technologies such as MIS and orthobiologics solution. The U.S. is the largest market in this region with more than 95% contribution to the region’s market value.

Countries such as India and Thailand provide significant cost benefit to the customers for orthopedic surgeries with 75%-80% less than the overall cost of the same process as compared to the U.S. or Europe (see above figure). Long waiting list (as long as 3 months in U.K.) for treatments such as knee and hip replacement is also prompting patients to opt for surgeries in these countries.

Global orthopedic devices market is highly competitive with presence of more than 100 companies across the globe. Majority of the top players in the market are concentrated in the U.S. and more specifically in the Warsaw region in Indiana. Stryker (U.S.), DePuy, a Johnson & Johnson Company (U.S.), Zimmer Corp. (U.S.), Smith & Nephew (U.K.), Medtronic (U.S.), Synthes (U.S.), and Biomet (U.S.) dominate the orthopedic devices market globally.

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