Orthopedic Devices Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global orthopedic devices market growth forecasted to transform from US$ 36.3 billion in 2022 to US$ 48.1 billion by 2028, driven by a CAGR of 4.8%. Some of the factors accelerating the growth of the market include the global increase in the prevalence of orthopedic diseases and disorders, a rising number of sports and accident-related orthopedic injuries, increasing funding initiatives to boost awareness of new orthopedic devices, a rapid rise in the geriatric patient population, and growing collaborations and partnerships among players. Moreover, the emergence of new orthobiologics and the growing adoption of robotic technology in orthopedic surgery are likely to offer significant opportunities for orthopedic device manufacturers. However, the high cost of orthopedic surgical procedures may limit their uptake in many lower-income regions. Additionally, the potential risks and complications associated with orthopedic surgeries are likely to hamper the growth of the market.

Orthopedic Devices Market – Global Forecast and Growth Insights to 2028

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Orthopedic Devices Market Dynamics to 2028

Driver: Growing number of patients with orthopedic diseases and disorders globally

Orthopedic devices are increasingly being used during the clinical management of various orthopedic diseases and disorders, such as osteoarthritis, rheumatoid arthritis, osteoporotic fractures, and carpal tunnel syndrome. The significant rise in the burden of orthopedic diseases across the globe has driven the demand and adoption of orthopedic treatment products among major end users. According to the CDC, approximately 54 million adults in the US are suffering from arthritis.

Opportunity: Growth opportunities offered by emerging markets

Emerging countries such as China, India, Brazil are anticipated to offer huge growth opportunities to manufacturers operating in the market. Improved healthcare infrastructure, rising healthcare expenditure, rising medical tourism, and the lower orthopedic treatments cost in these countries are anticipated to promote the growth of market. Moreover, government initiatives to support the healthcare industry, strengthening export trade, and growing awareness among surgeons, and patients about the latest orthopedic treatment are likely to support the growth of global orthopedic devices industry.

Restraint: Risks and complications associated with orthopedic surgical procedures

Total hip and knee arthroplasty surgeries are the two most commonly performed orthopedic surgeries. Though hip arthroplasty generates effective outcomes, the procedure can also lead to potential risks and complications such as surgical-site infections, deep vein thrombosis, and implant failures owing to the failure of the cement to hold the hip implants in place. Periprosthetic fractures are other complications that can result in hip and knee replacement surgeries. All these risk are likely to restrain the growth of market

The spinal implants and surgical devices segment accounted the largest share of orthopedic devices industry during the forecast period, by product

Based on product, the orthopedic devices market is segmented into orthopedic fixation devices, orthopedic replacement devices, orthopedic prosthetics, orthopedic braces and support products, spinal implants and surgical devices, arthroscopy instruments, ortho biologics, and bone graft substitutes. The spinal implants and surgical devices segment accounted for the largest share of the orthopedic devices market in 2021. The large share of this segment can be attributed to the rising incidence of spinal deformities, growing participation in sports activities, rise in motor vehicle accidents, and technological advancements in spinal fusion surgeries.

The hand and wrist segment of orthopedic devices industry is estimated to grow at the highest CAGR, by site of injury

Based on the site of injury, the orthopedic devices market is segmented into hip and pelvis, foot and ankle, knee and thigh, hand and wrist, shoulder, arm and elbow, spine, and craniomaxillofacial. The hand and wrist segment accounted for the largest share of the orthopedic devices market in 2021. The large share of this segment can be attributed to the increasing incidence of hand and wrist fractures, significant growth in the geriatric patient population, and the increasing prevalence of hand osteoarthritis.

The hospital and surgical centers captured for the largest share of the global orthopedic devices industry, by end user

Based on the end user, the orthopedic devices market has been segmented into hospitals and surgical centers, orthopedic clinics, ambulatory and trauma care centers, home care settings, and other end users (including physiotherapy centers, government regulatory organizations, academic institutes, and contract research organizations). The hospitals and surgical centers segment accounted for the largest share of the orthopedic devices market in 2021. This can be attributed to the rising number of orthopedic surgeries performed in hospitals, increasing investments by governments to improve healthcare infrastructure, and the rising hospital admission rate of trauma patients.

Orthopedic Devices Market by Region – Forecast to 2028

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North America region of orthopedic devices industry is expected to grow at the highest CAGR during the forecast period

On the basis of region, the Orthopedic devices market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East and Africa. North America captured the largest share of the global Orthopedic devices market owing to the strong foothold of Orthopedic devices manufacturers in the region, well-established healthcare infrastructure, adoption of strategies such as collaboration & partnership with orthopedic hospitals & clinics to enhance the outreach of their innovative orthopedic devices among end users in the region. Moreover, supportive government regulations and rising number of robotic assisted orthopedic surgeries are anticipated to promote the growth of orthopedic devices market in the region.

Prominent players in the orthopedic devices market include Stryker Corporation (US), Johnson & Johnson (US), Smith & Nephew (UK), Medtronic plc (Ireland), Zimmer Biomet (US), B. Braun (Germany), Enovis (US), NuVasive (US), Acumed LLC (US), BSN Medical (Germany), CONMED Corporation (US), Orthofix Medical Inc. (US), Arthrex (US), Allegra Orthopaedics (Australia), DeRoyal Industries (US), MicroPort (China), Nippon Sigmax Co., Ltd. (Japan), TriMed Inc. (US), Altis Biologics (South Africa), Isto Biologics (US), ITS (Austria), Meril Life Sciences Pvt. Ltd. (India), Mueller Sports Medicine, Inc. (US), RCH Orthopaedics (India), and FLA Orthopedics (US).

Orthopedic Devices Market Report Scope and Insights

Orthopedic Devices Market Segmentation and Analysis

By Product

• Orthopedic Fixation Devices
  • Internal Fixation Devices
  • External Fixation Devices

• Orthopedic Replacement Devices
  • Ankle Replacement Devices
  • Hip Replacement Devices
  • Knee Replacement Devices
  • Shoulder Replacement Devices
  • Elbow Replacement Devices
  • Wrist Replacement Devices

• Orthopedic Prosthetics
  • Solid Ankle Cushion Heel prostheses
  • Single-axial Prostheses
  • Multi-axial Prostheses
  • Dynamic Response Prostheses
  • Microprocessor-controlled Prostheses

• Orthopedic Braces and Support Products
  • Ankle Braces and Support Products
  • Knee Braces and Support Products
  • Foot Walkers and Orthoses
  • Back, Hip, and Spine Braces and Support Products
  • Shoulder Braces and Support Products
  • Elbow Braces and Support Products
  • Hand and Wrist Braces and Support Products
  • Facial Braces and Support Products

• Spinal Implants and Surgical Devices
  • Spinal Fusion Devices
  • Spinal Non-fusion Devices

• Arthroscopy Instruments
• Orthobiologics
• Bone Graft Substitutes

By Site

• Hip and Pelvis
• Foot and Ankle
• Knee and Thigh
• Hand and Wrist
• Shoulder
• Arm and Elbow
• Spine
• Craniomaxillofacial

By Application

• Fracture Treatment and Recovery
• Rheumatoid Arthritis and Osteoarthritis
• Ligament Injuries
• Neurological Disorders
• Diabetic Foot Diseases
• Spinal Fusion, Fixation, and Decompression

By End User

• Hospitals and Surgical Centers
• Orthopedic Clinics
• Ambulatory and Trauma Care Centers
• Home Care Settings
• Other End Users

By Region

• North America
  • US
  • Canada

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • RoEU

• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • RoAPAC

• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East and Africa

Orthopedic Devices Market Recent Developments and Insights

• In January 2023, Zimmer Biomet acquired Embody, Inc. with a focus on strengthening its brand presence in the orthopedic devices market.
• In November 2022, Enovis announced the launch of a new DynaNail Helix fixation system used for the treatment of bone fractures, joint fusion, and bone reconstruction.
• In September 2022, Stryker Corporation introduced New Gamma4 Hip fracture nailing system to expand its orthopedic fixation devices product portfolio.

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