What Has Been The Historical And Current Growth Of The Orthopedic Devices Market?
The orthopedic devices market has seen considerable growth due to a variety of factors.
• In recent years, the market size of orthopedic devices has seen a significant increase. The projected growth is from $51.45 billion in 2024 to $55.08 billion in 2025, at a compound annual growth rate (CAGR) of 7.1%.
A variety of factors have contributed to this growth during the historic period, including an aging population, an increase in osteoarthritis cases, a rise in orthopedic procedures, regulatory standards and approvals, a focus on patient results and quality of life, as well as heightened awareness of joint health.
What Is the Forecasted Market Size and Growth Rate for The Orthopedic Devices Market?
The orthopedic devices market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a robust expansion in the market size of orthopedic devices in the coming years. The market is anticipated to accelerate to a value of $67.05 billion by 2029, with a compound annual growth rate (CAGR) of 5.0%.
Growth factors for this forecasted period include the proliferation of value-focused healthcare models, attention to sustainability, the use of regenerative strategies for joint preservation, and advances in implant coatings and materials. Key trends within this upcoming phase feature intelligent orthopedic devices, robotics applications in orthopedic surgery, personalized orthopedic braces, nanotechnology integration in orthopedics, and the use of telemedicine for orthopedic care.
What Are The Leading Drivers Of Growth In The Orthopedic Devices Market?
The increase in arthritis cases is anticipated to spur the expansion of the orthopedic device market. Arthritis, which refers to pain or disease that affects the joints and involves the inflammation or swelling of one or more joints, can be effectively managed with the use of orthopedic devices. These devices can help reduce pain, improve mobility, and enhance overall functionality for those suffering from arthritis. As an example, data from the National Center for Health Statistics, a government agency in the US, showed that in 2022, the age-adjusted prevalence of diagnosed arthritis among adults was 18.9%. Women were found to be more likely to be affected at 21.5% compared to men at 16.1%. Furthermore, a significant increase in prevalence was seen with age, starting from 3.6% in adults aged 18–34, to a whopping 53.9% in those aged 75 and older. These findings in February 2024 clearly indicate that the growing prevalence of arthritis is a key factor fueling the growth of the orthopedic device market.
What Key Areas Define The Segmentation Of The Global Orthopedic Devices Market?
The orthopedic devices market covered in this report is segmented –
1) By Product: Instruments/Equipment, Disposables
2) By Type: Joint Reconstruction Devices And Equipment, Spinal Surgery Devices And Equipment, Trauma Fixation Devices And Equipment, Orthobiologics Devices And Equipment, Arthroscopy Devices And Equipment, Orthopedic Braces And Support Devices And Equipment, Craniomaxillofacial (CMF) Devices And Equipment, Orthopedic Prosthetics
3) By Type of Expenditure: Public, Private
4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Instruments/Equipment: Surgical Instruments, Imaging Equipment, Rehabilitation Equipment, Bone Plates and Screws, Joint Replacement Devices, Orthopedic Fixation Devices
2) By Disposables: Surgical Drapes and Covers, Sterile Gloves, Sutures and Staples, Gauze and Dressings, Orthopedic Casting Supplies, Biologics
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How Are Emerging Trends Reshaping The Dynamics Of The Orthopedic Devices Market?
The growth of the orthopedic devices market was hindered by the advent of innovative drugs and treatment strategies that enabled patients to bypass surgical interventions. Approaches such as tissue engineering, stem-cell therapy, and other alternatives like platelet-rich plasma (PRP) injections have evolved, enabling patients to side-step surgical treatments for medical issues such as arthritis and tendonitis. This trend has adversely influenced the requirement for orthopedic devices as a higher number of individuals chose these substitute treatment methodologies, with the goal of avoiding potential hazards and complications linked to orthopedic operations.
Who Are the Key Players in the Orthopedic Devices Market?
Major companies operating in the orthopedic devices market include:
• Aesculap Implant Systems LLC
• Johnson & Johnson
• Medtronic Inc.
• Stryker Corporation
• B. Braun Group
• Zimmer Biomet Holdings
• Smith & Nephew plc
• Arthrex
• Allegra Orthopaedics
• Enovis
• Integra LifeSciences Corporation
• NuVasive Inc.
• DJO Global
• CONMED Corporation
• Globus Medical Inc.
• MicroPort Scientific Corporation
• Össur
• Orthofix Medical Inc.
• DeRoyal Industries
• Alphatec Holdings Inc.
• LimaCorporate S.p.A.
• Exactech Inc.
• Acumed LLC
• Corin Group PLC
• Waldemar Link GmbH & Co. KG
• ConforMIS Inc.
• FH Orthopedics
• Nippon Sigmax Co. Ltd.
• Implantcast GmbH
• Mathys AG Bettlach
• Medacta International SA
• OrthAlign Inc.
• OrthoPediatrics Corp.
• OrthoSensor Inc.
• Paradigm Spine LLC
• SpineGuard SA
What Is The Most Dominant Region In The Orthopedic Devices Market?
North America was the largest region in the global orthopedic devices market in 2024. Western Europe was the second largest region in the global orthopedic devices market. The regions covered in the orthopedic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
