Orthopedic Devices Market – By Product, By End Use – Global Forecast, 2024 to 2032

Orthopedic Devices Market Size

The global orthopedic devices market size was valued at USD 52.3 billion in 2023 and is expected to exhibit growth at a CAGR of 3.8% from 2024 – 2032 period. The market has been positively impacted by factors including an aging population and technological advancements.
 

The growing number of people aged over 65 years globally across many nations leads to an increment in the share of people suffering from osteoarthritis, osteoporosis, and degenerative disc disease, which in turn increases the demand for orthopedic solutions including joint reconstruction, trauma fixation, and spine disorders. Moreover, due to increased participation in sports and vigorous workouts, people, especially younger populations, have suffered from sports injuries, which has further fueled the demand for orthopedic devices.
 

Additionally, the market is continuously evolving as a result of new technological advancements, for instance, 3D printing, custom-fitted devices, and an entire new range of tools such as robotic surgical tools which greatly improve the outcomes of the orthopedic procedures. Robotics and computer-aided surgeries help orthopedic surgeons perform complex procedures more accurately, which helps to lower the recovery period for patients. They have also aided in the evolution of minimally invasive surgical techniques, which tend to require less time spent in a hospital and have a lower risk of complications, enabling more advanced orthopedic devices to be adopted by practitioners, thereby fueling market growth.
 

Orthopedic devices encompass surgical instruments and implants crafted for the purpose of preventing, diagnosing, and treating musculoskeletal conditions in the bone, joint, ligament, tendon, or muscle pain within the human body. These devices include a multitude of products, which are meant to help reconstruct or enhance function in the deficient or depleted regions of the body such as joint replacement implants, bone plates, screws, pins, spinal devices, and braces.
 

Orthopedic Devices Market Trends

The growing elderly population positively drives the growth of the market because old age is associated with a higher rate of musculoskeletal disorders.
 

• The elderly population is more susceptible to osteoarthritis, osteoporosis, degenerating disc disorders, and other mobility-related disorders due to age. This, in turn, raises the need for orthopedic measures such as joint replacements, fracture fixation devices, and spinal implants.
   
• Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%.  With the rise in aging population, countries all over the world are noting an increase in the orthopedic conditions. This demographic change exacerbates the already existing pressure on healthcare organizations to provide cost-effective solutions that will enhance the mobility, self-sufficiency, and overall wellbeing of elderly persons.
   
• As a person ages, wear and tear on bones and joints leads to the need for surgical repair more often than not. The increasing number of knee and hip replacements as routine surgery performed on older patients has been statistically shown to improve their functional ability quite significantly.
   
• Further, surgical advancements, particularly minimally invasive orthopedic surgeries, has permitted elderly patients to have such procedures performed safely and with fewer risks and shorter recovery times. As healthcare systems strive to offer more enhanced geriatric care, manufacturers of orthopedic devices are concentrating on creating geriatric-specific products, such as tailored implants and other technologies ideal for carefree recovery, thereby creating more growth opportunities.
   
• Furthermore, investments from the public and private sectors in geriatric care services and awareness of the potential benefits of orthopedic treatment are other factors growing the market. Therefore, the elderly form a huge portion of the possible consumers of the market and their growth.
   

Orthopedic Devices Market Analysis

Based on product, the market is segmented into joint reconstruction devices, spinal devices, trauma fixation devices, orthobiologics, arthroscopic devices, and other products. The joint reconstruction devices segment is expected to expand at a CAGR of 4.5%, reaching over USD 29.1 billion by 2032.
 

• The joint reconstruction devices segment dominates the market, owing to the increasing prevalence of musculoskeletal disorders alongside joint conditions such as osteoarthritis and rheumatoid arthritis.
   
• Due to the increasing population of elderly persons as well as increased life expectancy, there is a higher need for joint replacement surgeries like hip, knee, and shoulder replacement, which further increases the adoption of joint reconstruction devices.
   
• The advancement in surgical procedures, alongside the development of new biocompatible materials, has enhanced this segment.
   
• Moreover, the increasing concern towards joint health and the availability of modern healthcare systems in mature markets is also a reason for the significant adoption of the joint reconstruction devices.

Based on end use, the market is segmented into hospitals and clinics, ambulatory surgical centers, and other end users. The hospitals and clinics segment dominated the market in 2023 and is anticipated to reach USD 40.2 billion by 2032.
 

• Hospitals and clinics is a leading segment in the orthopedic devices market owing to the increase in the number of musculoskeletal disorders and injuries which require treatment. These healthcare facilities serve as the primary centers for surgical procedures such as joints surgery, spine surgery, and fracture management which all depend on an intensive care of orthopedic devices.
   
• The increasing utilization of these surgeries in the hospitals where skilled doctors and modern equipment is available strengthens their dominance in the market.
   
• In addition, increasing spending in upgrading the healthcare facilities and incorporating advanced imaging and navigation technologies improves the surgical results and consequently drives more patients towards the hospitals and clinics.

North America orthopedic devices market accounted for USD 29.3 billion market revenue in 2023 and is anticipated to grow at a CAGR of 3% between 2024 – 2032 period.
 

• The market is mainly fueled by the increasing geriatric population along with the growing burden of orthopedic diseases. Musculoskeletal disorders such as osteoarthritis and osteoporosis are associated with the aging population, which keeps on increasing in number. This has increased the need for orthopedic procedures such as joint replacement and spinal surgery.
   
• In addition, there are advanced surgical centers, equipment, and techniques in America that contribute to enhancing the market growth.
   
• The collaboration of medical technologies and healthcare facilities also encourages the development of new devices, thereby fueling market growth.
   

U.S. orthopedic devices market was valued at USD 27.5 billion in 2023 and is projected to grow substantially in the coming years.
 

• The market in the U.S. is supported by the country’s advanced healthcare facilities and rapid adoption of innovative medical technology. In addition, the prevalence of musculoskeletal disorders such as osteoarthritis, osteoporosis and sports injuries contribute to the increased need for orthopedic instruments in the U.S.
   
• The orthopedic industry in the U.S. market is further boosted through investment in R&D by the top manufacturers enabling the launch of new products such as 3D printed implants and robotic surgical systems.
   
• The market also benefits from favorable reimbursement policies and a strong concentration of trained medical personnel within the American society.
   

U.K. orthopedic devices market is projected to grow remarkably in the coming years.
 

• Due to improvement in healthcare infrastructure accompanied by an ever-increasing populace, the market within the UK has become a major growth center. These factors, combined with the increasing number of aged individuals, are driving the demand for innovative solutions for treatment of orthopedic disorders including osteoarthritis, rheumatoid arthritis, and osteoporosis.
   
• In addition, the UK is well supported by a network of research and medical device development companies, which boosts the development of modern orthopedic grade implants.
   
• Additionally, efforts by the government to enhance innovation within the country’s healthcare system also spur expansion of the market.
   

Japan holds a dominant position in the Asia Pacific orthopedic devices market.
 

• The growing geriatric population suffering from musculoskeletal diseases is one of the imperative drivers for Japan’s market. As one of the world’s most aging countries, it is grappling with more and more age-induced diseases like osteoporosis and osteoarthritis. This demographic trend drives the demand for orthopedic interventions, including joint replacement surgery and spinal treatment. As the population ages, there is a higher alignment towards the elderly, stimulating greater demand for novel orthopedic devices.
   
• Additionally, as the government further supports and sponsors programs designed to improve the level of healthcare provisions and the accessibility of orthopedic services, the market demand is expected to grow due to improved structural demographic shifts and technological factors.
   

Orthopedic Devices Market Share

Numerous companies compete within the market, the most prominent of which include Medtronic, Stryker, Johnson & Johnson, and Zimmer Biomet.
Stryker specializes in joint replacement and innovative operative tools. Medtronic excels at spinal instruments and trauma fixation devices. The DePuy Synthes also has a large footprint in the orthopedic device market. Furthermore, Zimmer Biomet remains strong with surgical and orthopedic reconstruction products. Together, these companies capitalize on their extensive distribution channels, brand equity, and constant innovation to compete effectively in the expanding global market for orthopedic devices.
 

Orthopedic Devices Market Companies

Prominent players operating in the orthopedic devices industry include:

• aap Implantate
• Alphatec Spine
• Arthrex
• B. Braun
• ConforMIS
• CONMED
• DePuy Synthes (Johnson and Johnson)
• DJO Global
• Globus Medical
• Integra LifeSciences
• Medacta
• Medtronic
• Microport Scientific
• NuVasive
• Smith & Nephew
• Stryker
• TriMed
• Waldemar LINK
• Zimmer Biomet
   

USPs of top players

• Companies are working on next-generation orthopedic devices, personalized implants, and modern biomaterials to increase patient outcomes and offers complex solutions.
   
• Key players are focusing on the development of the market by investing in new technologies such as AI-assisted diagnosis tools and microsurgery equipment are perfect examples of continuous innovation.
   
• Some players have enormous distribution channels as well as strong partnership links enabling the supply of their products into developed and developing markets thus increasing access and market share.
   

Orthopedic Devices Industry News

• In November 2023, Smith+Nephew acquired CartiHeal, the creator of the Agili-C implant, in a transaction worth USD 330 million. This acquisition supports Smith+Nephew's strategic emphasis on enhancing its sports medicine sector and integrating cutting-edge technology into its offerings.
   
• In October 2023, DePuy Synthes obtained U.S. FDA 510(k) clearance for its TriLEAP lower extremity anatomic plating system. This modular system is specifically tailored to address the intricate requirements of podiatric medicine practitioners, orthopedic surgeons, and specialists in foot and ankle care.
   

The orthopedic devices market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Product

• Joint reconstruction devices
  • Hip replacement
  • Knee replacement
  • Ankle replacement
  • Shoulder replacement
  • Other joint reconstruction devices
• Spinal devices
• Trauma fixation devices
• Orthobiologics
• Arthroscopic devices
• Other products

Market, By End Use

• Hospitals and clinics 
• Ambulatory surgical centers
• Other end users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE