Orthopedic Devices Market

Orthopedic Devices Market Outlook (2023 to 2033)

The global orthopedic devices market is estimated to evolve at a CAGR of 4% from 2023 to 2033. At present, the market is valued at US$ 45 billion and is thus expected to reach a size of US$ 67 billion by the end of 2033.

Increasing joint replacement and pain management procedures, as well as a rise in the prevalence of joint pain and damaged joints among the elderly population, are major factors driving the demand for joint reconstruction devices.

Global orthopedic devices market growth is attributed to the prevalence of a wide range of orthopedic disorders such as osteoarthritis, rheumatoid arthritis, fibromyalgia, and juvenile arthritis. The growing geriatric population, lifestyle changes and obesity, and an increase in incidence rates of injuries related to accidents, sports, and adventure activities are the factors anticipated to burgeon market prospects for orthopedic devices over the forecast period.

An increase in sports injuries and accidents has led to bone disorders such as joint pains, joint instability, bone loss, and infection. While orthopedic devices are designed to avoid or treat musculoskeletal problems, orthotics support or straighten weak joints or limbs. Hip supports, cervical collars, knee and elbow braces, back supports and braces, foot and ankle supports, and back braces are some of the key orthotic and medical devices that are widely used in operations and procedures.

The clinical performance of orthopedic devices is significantly impacted by mechanical properties. The stiffness mismatch between the implant and the surrounding hard tissue inhibits tissue remodeling and healing. Spinal load capacity has to be increased, as seen by the discomfort brought on by disc herniation, vertebral fractures, and aging-related bone stock loss in the spine.

For individuals with musculoskeletal disorders and illnesses, orthopedic devices are essential for reducing pain, enhancing the quality of life, and boosting mobility. In response to shifting consumer needs, these orthopedic medical tools and techniques are continually evolving. The use of digital technologies and technological advancements are now the main factors propelling the growth of the orthopedic devices market.

For healthcare organizations dealing with quick technological advancements, maintaining a skilled and experienced staff of professionals is becoming more and more crucial. The comfort, safety, and convenience of the consumer must be taken into consideration by designers and manufacturers when creating prototype medical equipment.

Orthopedics has surely changed recently as a result of incorporating innovative concepts such as wearable medical technology and medical fabrics. A substantial effort has already been made to modularize joint replacement procedures' component parts to create a system that offers more individualized care.

Recent advancements in orthopedic devices are addressing development-related issues such as the ability to market gender-specific components, the potential to address long-term biomechanical alignment issues, and individually sized cups and balls for hips based on the patient's needs and capacity. Along with the standard joint replacements such as hip and knee replacements, evolutionary growth and system growth related to alignment tools and robotic surgery are anticipated to increase over the projection period.

Report Attributes	Details
Orthopedic Devices Market Size in 2023	US$ 45 Billion
Projected Market Value (2033)	US$ 67 Billion
Global Market Growth Rate (2023 to 2033)	4% CAGR
Market Share of Joint Reconstruction Devices	50%
Key Companies Profiled	Zimmer Biomet; Stryker Corporation; Smith & Nephew; DJO Global, Inc.; Exactech, Inc.; Medtronic PLC; DePuy Synthes; Conmed Corporation; Donjoy, Inc.; NuVasive, Inc.

Why are Sales of Orthopedic Devices Surging Worldwide?

“Growing Prevalence of Musculoskeletal Disorders in Obese Individuals”

Growing rates of obesity and rising average weights among the populace are increasingly linked to orthopedic and general bone health. Obesity increases the chance of numerous co-morbidities, including osteoarthritis, type 2 diabetes, coronary artery disease, sleep apnea, and hypertension.

Obesity has been connected to the pathophysiology of osteoporosis, fractures, osteoarthritis, and numerous soft tissue disorders. It has also been associated with a reduction in bone mass and the generation of proinflammatory cytokines. These factors raise the chances of musculoskeletal disorders in obese patients.

Critical perioperative complications include elevated cardiovascular risks, difficulties using specialized tools, apparatus, surgical technique, patient positioning, and drug adjustments. A more interactive role for patients is also expanding correspondingly, which is projected to drive the orthopedic devices market over the forecast period. Hospitals are increasingly competing to update their surgical devices in light of these developments.

“Rapid Integration of Innovative Surgical Techniques & Advancements”

Several innovative surgical techniques and advancements are specifically enhancing market growth. A few of the more recent surgical techniques that have gained popularity in the medical community include motion preservation techniques, minimally invasive procedures, tissue-guided procedures, and cement-free joint replacements. These procedures have also influenced the design and new developments in surgical devices available in the market.

Orthopedic devices are also predicted to see an increase in demand for robotic-assisted orthopedic procedures due to their reduced invasiveness and repeatable precision. This will result in shorter hospital stays and faster recovery times.

“Emergence of Wearable Technology”

In recent years, wearable technology has emerged as an innovative endeavor that has gained widespread acclaim across the globe. This technology, which enables many specialists in the field and individuals to monitor their own fitness and health indicators, gets more accurate with each new technological advancement.

It is anticipated that the potential impact of these devices on orthopedic treatment will increase dramatically over the coming years as they become more accurate and find new uses in health monitoring. By using this technology to analyze and evaluate their patients' pre-operative progress, orthopedic specialists may explain many elements of treatment to patients without having to see them in person.

What is Restraining Global Demand for Orthopedic Devices?

“High Costs of Orthopedic Devices and Shortage of Experienced Surgeons”

Pricing trends indicate that the high costs of orthopedic devices are limiting market growth. Due to their high cost, orthopedic devices may become less popular in low-income countries. Costly joint reconstruction devices and essential orthopedic implant accessories further restrict market growth.

The risks and issues associated with orthopedic surgical procedures, such as postoperative infections, neuroparalysis, and a loss of full range of motion, may restrain market expansion. The shortage of experienced surgeons and issues, including the strict government regulations for the approval of orthopedic implants could restrain market growth.

The rate of acceptance of these devices by surgeons and patients is impacted by product recalls resulting from ineffective devices or manufacturing mistakes, which has an impact on manufacturers' income. Market expansion is anticipated to be hampered by problems with fittings and the possible adverse effects of wearing splints. The dorsal aluminum splint and prefabricated stack splint may not fit properly and cause skin discomfort.

Why is North America Projected to Offer a Sizable Opportunity for Orthopedic Device Manufacturers?

“Rising Adoption of Orthopedic Prosthetic Devices Driving Market Expansion in North America”

North America accounts for 50% share of the global market owing to an increasing need for orthopedic surgeries among patients. This has augmented the demand for technologically advanced orthopedic devices, prompting key market players to establish a business in the region. Orthopedic prosthetic devices have also gained immense traction in the region.

Country-wise Insights

Why is the United States a High Potential Market for Orthopedic Devices?

“Favorable Reimbursement Policies in the Country”

The presence of top orthopedic device manufacturers, a well-developed healthcare infrastructure, and favorable reimbursement policies are projected to fuel market growth in the United States. High demand for advanced healthcare services and an increase in road accidents are boosting market value in the country.

The high prevalence of orthopedic diseases, growing R&D investments, and widespread use of innovative treatment methods are expected to drive market expansion.

What Makes Germany a Leading Market for Orthopedic Devices?

“Growing Usage of Arthroscopy Devices in Germany”

The market in Germany is being driven by an increase in surgeries, growing awareness of technologically advanced orthopedic devices, and a rise in healthcare spending by the local populace. A robust distribution network and a rise in the local supply of arthroscopy devices are supporting market expansion in Germany.

What is Boosting the Adoption of Orthopedic Devices in Japan?

“Expanding Medical Tourism Sector in Japan”

In Japan, a burgeoning population and the resulting increase in per capita healthcare expenditure shall broaden market prospects. The expanding medical tourism industry is predicted to draw more patients from the target patient group due to the availability of affordable advanced medical treatments.

Category-wise Insights

Why is Demand for Joint Reconstruction Devices Gaining Traction?

“Growing Frequency of Osteoporosis & Osteoarthritis among Geriatric Population”

Based on product, the market is divided into joint reconstruction, spinal devices, trauma fixation, orthopedic prosthetics, arthroscopy devices, orthopedic braces & support, and orthopedic accessories. Joint reconstruction devices account for 50% share of the global market.

Joint reconstruction devices are utilized during procedures to replace or repair joint bones. The presence of a large patient pool requiring knee, elbow, and shoulder replacement surgeries and growing investment in research and development by key market players are the main elements boosting the adoption of joint reconstruction devices.

Joint reconstruction is recommended as a treatment in cases of extreme joint pain or dysfunction. The rising frequency of osteoporosis and osteoarthritis, growing preference for minimally invasive surgical techniques, and an increase in sports injuries are driving demand for joint reconstruction devices.

The use of intramedullary nails, external fixation, and compression plates are some of the technological advances in joint reconstruction devices. The huge demand for advanced procedures such as knee arthrodesis is also fueling the sales of joint reconstruction devices.

Which End User is Likely to Contribute the Most to Market Expansion?

“Orthopedic Devices Widely Used in Hospitals Due to Increasing Need for Better Care for Traumatic Injuries”

The market is divided into hospitals, orthopedic clinics, and ambulatory surgical centers based on end user. Orthopedic devices are primarily utilized in hospitals due to their need for surgical implantation.

Hospitals' efficient reimbursement practices play a critical role in many patients receiving hospital care. The expansion of healthcare settings, the exponential rise in hospitalizations caused by an increase in the frequency of road accidents & other sports injuries, and better care for traumatic injuries by skilled professionals are fueling the demand for orthopedic devices in hospitals.

Competitive Landscape

Key orthopedic device suppliers with technical expertise and core competencies are making consistent efforts to manufacture novel orthopedic products and maintain quality control following safety regulations to reduce the environmental impact to attract more customers. Some examples of these are orthopedic medical devices and orthopedic fixation devices.

Improved biomaterial-based implants offering high strength and low wear are witnessing an exponential increase in demand across developed and developing countries. Several leading companies are collaborating with emerging market entrants, enhancing product standards, and focusing on supply chain management.

For instance,

• Johnson and Johnson collaborated with Aspect Biosystems, a company engaged in 3D bioprinting and tissue engineering to launch new and advanced orthopedic devices.

Key Segments of Orthopedic Devices Industry Research

• By Product :

  • Joint Reconstruction:
    • Hip Replacement
      • Total Hip Replacement Implants
      • Partial Hip Replacement Implants
      • Hip Resurfacing Implants
      • Revision Hip Replacement Implants
    • Knee Replacement:
      • Total Knee Replacement Implants
      • Partial Knee Replacement Implants
      • Revision Knee Replacement Implants
    • Elbow & Shoulder Replacement
    • Others
  • Spinal Devices
    • Spinal Fusion Devices
    • Spinal Non-fusion Devices
  • Trauma Fixation
    • Metal Plates & Screws
    • Pins/Wires
    • Nails and Rods
    • Others
  • Orthopedic Prosthetics
    • Lower Extremity Orthopedic Prosthetics
    • Upper Extremity Orthopedic Prosthetics
  • Arthroscopy Devices
  • Orthopedic Braces & Supports
    • Upper Extremity Braces and Supports
    • Low Extremity Braces and Supports
  • Orthopedic Accessories
    • Bone Cement
    • Casting Systems
    • Removal Systems
    • Others

• By End User :

  • Hospitals
  • Orthopedic Clinics
  • Ambulatory Surgical Centers

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa