PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1720029
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1720029
Orthopedic Devices Market size was valued at USD 62,957 Million in 2024, expanding at a CAGR of 5.10% from 2025 to 2032.
Orthopedic devices are designed to treat musculoskeletal complications involving joints or bones. The most common orthopedic devices are rods, spacers, pins, cages, plates, and screws, which act as anchors to improve and align fractured bones. In recent years, there have been several technological advancements in orthopedic surgery devices. Some of these include 3D printing materials, the use of robotics, and the incorporation of artificial intelligence (AI) into treatment planning, among others.
Orthopedic Devices Market- Market Dynamics
Increasing Arthritis Prevalence Drives Growth In Orthopedic Devices Market
The increasing prevalence of arthritis is expected to drive future growth in the orthopedic device market. Arthritis is a term used to describe joint discomfort or illness, which includes inflammation or enlargement of one or more joints. Orthopedic devices can help people with arthritis by relieving pain, increasing mobility, and improving overall functionality. For instance, February 2024, according to the National Center for Health Statistics, a government agency in the United States. In 2022, the age-adjusted prevalence of diagnosed arthritis in adults was 18.9%, with women (21.5%) being more affected than men (16.1%). The prevalence increased significantly with age, from 3.6% in adults aged 18-34 to 53.9% in those aged 75 and up. As a result, rising prevalence will drive growth in the orthopedic device market.
Orthopedic Devices Market- Key Insights
As per the analysis shared by our research analyst, the global Orthopedic Devices Market is estimated to grow annually at a CAGR of around 5.10% over the forecast period (2025-2032)
Based on Product segmentation, the joint replacement/orthopedic implant category was predicted to show maximum market share in the year 2024
Based on End-use segmentation, hospitals were the leading category in 2024
On the basis of region, North America was the leading revenue generator in 2024
The Global Orthopedic Devices Market is segmented on the basis of Product, End-use, and Region.
Based on Product, the market is categorised into Joint Replacement/ Orthopedic Implants, {Lower Extremity Implants, [Knee Implants, Hip Implants, Foot & Ankle Implants], Spinal Implants, Dental, [Dental Implants, Craniomaxillofacial Implants], Upper Extremity Implants, [Elbow Implants, Hand & Wrist Implants, Shoulder Implants]}, Trauma, {Implants, Accessories (Plates, Screws, Nails, Pins, Wires), Instruments}, Sports Medicine, {Body Reconstruction & Repair, Accessories, Body Monitoring & Evaluation, Body Support & Recovery}, Orthobiologics, {Viscosupplementation, Demineralized Bone Matrix, Synthetic Bone Substitutes, Bone Morphogenetic Protein (BMP), Stem Cell Therapy, Allograft}, Others. The joint replacement/orthopedic implants segment dominated the market in 2023. The increasing number of joint replacement surgeries around the world is driving market growth. According to the American College of Rheumatology, over 450,000 hip replacements and more than 790,000 knee replacements are performed each year in the United States alone. Furthermore, the adoption of robotic-assisted joint replacement surgeries is boosting the market. A study titled "Trends in Computer-Assisted Surgery for Total Knee Arthroplasty in Germany: An Analysis Based on the Operative Procedure Classification System between 2010 and 2021" discovered that robot-assisted Total Knee Arthroplasty (R-TKA) surgeries increased significantly between 2018 and 2021, with an average annual increase rate of 84.74%. Furthermore, the availability of advanced orthopedic implants and rapid development in global healthcare infrastructure are expected to have a positive impact on segment growth.
By End-use, the market is segregated into Hospitals, and Outpatient Facilities. In 2024, the hospital segment led the market. This is due to significant infrastructure and the availability of various treatment options. Furthermore, the growing number of hospital admissions for bone fractures and injuries caused by car accidents is expected to drive market growth. Favorable reimbursement policies for patients who prefer to visit hospitals rather than outpatient facilities, combined with a large number of hospitals and primary care centers in both developed and developing economies, are key factors contributing to the high demand for hospital services.
Orthopedic Devices Market- Geographical Insights
Geographically, the Orthopedic Devices Market is widespread into the regions of Latin America, the Middle East, and Africa, North America, Asia Pacific, Latin America, and Europe. These regions are further divided according to the nations bringing in business.
North America dominated the orthopedic device market in 2024. The growing demand for advanced healthcare services, combined with the presence of major industry players, well-established healthcare infrastructure, and comprehensive reimbursement coverage, is driving market growth. Furthermore, an increase in the number of trauma and fracture cases, an increase in the number of middle-aged and geriatric patients seeking orthopedic devices, and the introduction of biodegradable and internal fixation devices are all contributing to regional growth.
The orthopedic devices market in Asia Pacific is expected to be the fastest-growing. The rapidly developing healthcare infrastructure in major countries such as India, China, and Japan, as well as the thriving medical tourism industry, are driving regional demand for orthopedic devices. The number of orthopedic implantations performed in the region is increasing as the prevalence of chronic orthopedic conditions rises and diagnostic tools improve.
The orthopedic devices market's competitive landscape is dominated by a mix of established companies and new, innovative startups. Market leaders such as Zimmer Biomet, Stryker, and Medtronic dominate the market with a diverse range of joint replacement systems, spinal implants, and trauma devices. These companies prioritise ongoing innovation and invest heavily in R&D to expand their product offerings, which frequently include cutting-edge technologies like robotics. Furthermore, new companies are entering the market with niche products and intelligent solutions that use digital health technologies. This is a competitive market that fosters innovation in orthopedic care while improving patient outcomes. For instance, in September 2023, Stryker introduced the PROstep MIS Lapidus, a novel internal fixation system designed to treat bunions. This system allows for a minimally invasive surgical approach to treat hallux valgus deformity and achieve fusion of the first metatarsal cuneiform joint.
November 2023, Smith+Nephew paid USD 330 million for CartiHeal, the company behind the Agili-C implant. This acquisition complements Smith+Nephew's strategic focus on investing in its sports medicine business and incorporating innovative technology into its portfolio.
October 2023, DePuy Synthes' TriLEAP lower extremity anatomic plating system has received 510k clearance from the US FDA. This modular system is specifically designed to meet the complicated needs of podiatric medicine doctors, orthopedic surgeons, and specialists in foot and ankle care.
September 2023, Enovis (DJO, LLC) has opened a new manufacturing facility in the United States to produce reconstructive knee, hip, and shoulder implants.