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Global Orthopedic Devices Market Size, Share & Trends Analysis Report by Product (Drill Guides, Guide Tubes, Implant Holder), End-use (Hospitals, Outpatient Facilities), Region, and Segment Forecasts, 2024-2030

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    Report

  • 150 Pages
  • December 2023
  • Region: Global
  • Grand View Research
  • ID: 5899492
The global orthopedic devices market size is anticipated to reach USD 103.9 billion by 2030 and it is projected to grow at a CAGR of 5.3% from 2024 - 2030. Major factors driving the market growth include high demand for orthopedic surgeries due to rising road accidents and prevalence of orthopedic diseases. Rise in geriatric population prone to orthopedic conditions primarily drives the global demand for orthopedic solutions. Effects of aging, such as lowering bone density and weakening of bones due to excessive loss of bone mass, are prominent in people from 25 to 54 years of age and becomes more noticeable after 55 years.

High adoption of minimally invasive surgeries and an increasing number of sports and road traffic accidents are expected to fuel growth of the market during the forecast period. Arthroscopy, minimally invasive total joint replacement, and spine surgeries are some of the newly adopted minimally invasive surgeries. Stringent procedures of regulatory approvals are anticipated to hinder market growth over the forecast period. In addition, high cost of devices and surgeries are some other factors likely to impede growth.

COVID-19 pandemic had a significant impact on the market. Elective orthopedic surgeries were postponed allocating resources for COVID-19 patients, leading to reduced demand. However, over time, the market adapted, focusing on infection control, remote consultations, and tele-rehabilitation. This pandemic accelerated digital health adoption, and implant materials evolved for patient safety.

Moreover, key players in the market, such as NuVasive, Inc.; Medtronic plc; Stryker Corporation; Zimmer Biomet; and Smith+Nephew, among others, are engaging in strategic initiatives such as partnerships, collaborations, new product launches, acquisitions, and expansions to strengthen their market position. In January 2022, Smith+Nephew acquired Engage Surgical, which is involved in manufacturing cementless knee systems in the U.S. This acquisition is anticipated to enhance company’s position in meniscal tear solutions and other knee arthroscopy devices.

Orthopedic Devices Market Report Highlights

  • Based on products, orthopedic implants segment held the majority share of the market in 2023, with a revenue of USD 37.1 billion owing to rapidly rising number of knee surgeries, hip replacement surgeries, and spinal implant surgeries
  • Based on end-use, hospitals segment held the majority market share in 2023, with a revenue of USD 42.6 billion. This can be attributed to significant infrastructure advancements and availability of world-class treatment solutions
  • North America captured the largest market share of 46.2% in 2022 owing to the presence of a large number of major market players and high adoption of advanced technologies are the major driving factors
  • Asia-Pacific is anticipated to witness the fastest CAGR of 7.7% over the forecast period. Presence of a largely untapped market and supportive government regulations are expected to fuel the market growth in this region.


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Table of Contents

Chapter 1. Research Methodology and Scope
1.1 Market Segmentation and Scope
1.2 Research Methodology
1.2.1 Information procurement
1.2.1.1 Purchased database
1.2.1.2 Internal database
1.2.1.3 Secondary sources
1.2.1.4 Third party perspective
1.2.2 Primary research
1.3 Information or Data Analysis
1.4 Research Scope and Assumptions
1.5 Market Formulation & Validation
1.5.1 Country market: CAGR calculation
1.6 Country Based Segment Share Calculation
1.7 Objectives
1.7.1 Objective - 1
1.7.2 Objective - 2
1.7.3 Objective - 3
1.8 List of Data Sources
Chapter 2. Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Regional Insights
2.4 Competitive Insights
2.5 Orthopedic Devices Market Snapshot
2.6 Orthopedic Devices Market Segment Snapshot
2.7 Orthopedic Devices Market Competitive Landscape Snapshot
Chapter 3. Orthopedic Devices Market Variables, Trends & Scope
3.1 Ancillary Market Outlook
3.2 Market Dynamics
3.3 Market Driver Analysis
3.3.1 Growing population aged 25 to 65 years and increasing burden of global geriatric population
3.3.2 Increasing adoption of minimally invasive treatments
3.3.3 Increasing number of sports injuries and road traffic accidents
3.3.4 Increasing reimbursement coverage
3.4 Market Restraint Analysis
3.4.1 Stringent regulatory framework
3.4.2 Increasing number of product recalls
3.4.3 Availability of alternative treatments
3.5 Orthopedic Devices Market Analysis Tools
3.5.1 Industry analysis - PORTER’S
3.5.1.1 Threat of new entrants
3.5.1.2 Threat of substitutes
3.5.1.3 Bargaining power of suppliers
3.5.1.4 Bargaining power of buyers
3.5.1.5 Competitive rivalry
3.5.2 Industry Analysis - PEST
3.5.2.1 Political and legal landscape
3.5.2.2 Economic and social landscape
3.5.2.3 Environment and technology landscape
3.6 Orthopedic Devices Market: Technology Trend Analysis
3.7 Orthopedic Devices Market: Product Pipeline Analysis
3.8 Orthopedic Disease Prevalence
3.8.1 North America
3.8.2 Europe
3.8.3 Asia-Pacific
3.8.4 Latin America
3.8.5 Mea
3.9 Impact of COVID-19 Pandemic on Orthopedic Devices Market
3.9.1 Current impact analysis
3.9.2 Future impact analysis
3.9.3 Impact on market players
Chapter 4. Orthopedic Devices Regulatory Framework
4.1 Regulatory Forces
Chapter 5. Orthopedic Devices Market: Product Estimates & Trend Analysis
5.1 Segment Dashboard
5.2 Orthopedic Devices Market: Product Movement Analysis, USD Million, 2022 & 2030
5.3 Drill Guides
5.3.1 Drill guides market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.4 Guide Tubes
5.4.1 Guide tubes market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.5 Implant Holder
5.5.1 Implant holder market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.6 Custom Clamps
5.6.1 Custom clamps market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.7 Distractor
5.7.1 Distractor market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.8 Screw Drivers
5.8.1 Screw drivers market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.9 Accessories
5.9.1 Accessories market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.9.1.1 Braces market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.9.1.2 Other Accessories market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.10 Orthopedic Implants
5.10.1 Lower extremity implants
5.10.1.1 Hip implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.10.1.2 Knee implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.10.1.3 Foot and ankle implants market revenue estimates and forecasts, 2018-2030 (USD Million)
5.10.2 Upper extremity implants
5.10.2.1 Shoulder implants market revenue estimates and forecasts, 2018-2030 (USD Million)
5.10.2.2 Elbow implants market revenue estimates and forecasts, 2018-2030 (USD Million)
5.10.2.3 Hand & Wrist implants market revenue estimates and forecasts, 2018-2030 (USD Million)
5.10.3 Spinal implants
5.10.3.1 Spinal Fusion implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.10.3.2 Spinal Non-Fusion implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.10.4 Dental implants
5.10.4.1 Dental implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.10.4.2 Craniomaxillofacial implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
5.11 Other Orthopedic Devices
5.11.1 Other orthopedic devices market revenue estimates and forecasts, 2018-2030 (USD Billion)
Chapter 6. Orthopedic Devices Market: End-use Estimates & Trend Analysis
6.1 Segment Dashboard
6.2 Orthopedic Devices Market: End Use Movement Analysis, USD Million, 2022 & 2030
6.3 Hospitals
6.3.1 Hospitals market revenue estimates and forecasts, 2018-2030 (USD Billion)
6.4 Out Patient Facilities
6.4.1 Out patient facilities market revenue estimates and forecasts, 2018-2030 (USD Billion)
Chapter 7. Orthopedic Devices Market: Regional Estimates & Trend Analysis By Product and By End-use
7.1 Orthopedic Devices Market Share, By Region, 2022 & 2030, USD Billion
7.2 North America
7.2.1 SWOT Analysis
7.2.2 North America orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.2.3 U.S.
7.2.3.1 Key country dynamics
7.2.3.2 U.S. orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.2.4 Canada
7.2.4.1 Key country dynamics
7.2.4.2 Canada orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.3 Europe
7.3.1 SWOT Analysis
7.3.2 Europe orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.3.3 UK
7.3.3.1 Key country dynamics
7.3.3.2 UK orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.3.4 Germany
7.3.4.1 Key country dynamics
7.3.4.2 Germany orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.3.5 France
7.3.5.1 Key country dynamics
7.3.5.2 France orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.3.6 Italy
7.3.6.1 Key country dynamics
7.3.6.2 Italy orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.3.7 Spain
7.3.7.1 Key country dynamics
7.3.7.2 Spain orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.3.8 Norway
7.3.8.1 Key country dynamics
7.3.8.2 Norway orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.3.9 Denmark
7.3.9.1 Key country dynamics
7.3.9.2 Denmark orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.3.10 Sweden
7.3.10.1 Key country dynamics
7.3.10.2 Sweden orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.4 Asia-Pacific
7.4.1 SWOT Analysis
7.4.2 Asia-Pacific orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.4.3 China
7.4.3.1 Key country dynamics
7.4.3.2 China orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.4.4 Japan
7.4.4.1 Key country dynamics
7.4.4.2 Japan orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.4.5 India
7.4.5.1 Key country dynamics
7.4.5.2 India orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.4.6 Australia
7.4.6.1 Key country dynamics
7.4.6.2 Australia orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.4.7 South Korea
7.4.7.1 Key country dynamics
7.4.7.2 South Korea orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.4.8 Thailand
7.4.8.1 Key country dynamics
7.4.8.2 Thailand orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.5 Latin America
7.5.1 SWOT Analysis
7.5.2 Latin America orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.5.3 Brazil
7.5.3.1 Key country dynamics
7.5.3.2 Brazil orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.5.4 Mexico
7.5.4.1 Key country dynamics
7.5.4.2 Mexico orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
7.5.5 Argentina
7.5.5.1 Key country dynamics
7.5.5.2 Argentina orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.6 Middle East & Africa
7.6.1 SWOT Analysis
7.6.2 MEA orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.6.3 South Africa
7.6.3.1 Key country dynamics
7.6.3.2 South Africa orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.6.4 Saudi Arabia
7.6.4.1 Key country dynamics
7.6.4.2 Saudi arabia orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.6.5 UAE
7.6.5.1 Key country dynamics
7.6.5.2 UAE orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
7.6.6 Kuwait
7.6.6.1 Key country dynamics
7.6.6.2 Kuwait orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Chapter 8. Competitive Landscape
8.1 Company Categorization
8.2 Company Overview
8.3 Financial Performance
8.4 Product Benchmarking
8.5 Company Heat Map Analysis
8.6 Strategy Mapping
8.6.1 Expansion
8.6.2 Partnership
8.6.3 Acquisition
8.6.4 Product/Service launch
8.6.5 Others
8.7 Participant Categorization
8.7.1 List of key emerging companies/technology disruptors/innovators
8.7.2 List of private and other companies
8.8 NuVasive, Inc
8.9 Medtronic
8.10 Stryker
8.11 Zimmer Biomet
8.12 Smith+Nephew
8.13 Aesculap Implant Systems, LLC (B.Braun)
8.14 CONMED Corporation.
8.15 DePuy Synthes (Johnson & Johnson)
8.16 Enovis (DJO, LLC).
List of Tables
Table 1 Regulatory procedures for different classes of medical devices in the U.S.
Table 2 U.S. regulatory approval process for medical devices
Table 3 Canada regulatory approval process for medical devices
Table 4 Europe regulatory approval process for medical devices
Table 5 Japan regulatory approval process for medical devices
Table 6 China regulatory approval process for medical devices
Table 7 India regulatory approval process for medical devices
Table 8 Singapore regulatory approval process for medical devices
Table 9 Brazil regulatory approval process for medical devices
Table 10 Mexico regulatory approval process for medical devices
Table 11 Argentina regulatory approval process for medical device
Table 12 Saudi Arabia regulatory approval process for medical device
Table 13 South Africa regulatory approval process for medical devices
Table 14 Lists orthopedic products identified in FDA’s 510(k) database during the calendar year 2021
Table 15 Company heat map analysis
Table 16 Key companies undergoing expansions
Table 17 Key companies undergoing partnership
Table 18 Key companies undertaking acquisitions
Table 19 Key companies launching new products/services
Table 20 Key companies launching new products/services
Table 21 List of private and other companies
List of Figures
Figure 1 Orthopedic devices market segmentation
Figure 2 Market research process
Figure 3 Information procurement
Figure 4 Primary research pattern
Figure 5 Market research approaches
Figure 6 Value chain-based sizing & forecasting
Figure 7 QFD modelling for market share assessment
Figure 8 Market formulation & validation
Figure 9 Orthopedic devices market snapshot
Figure 10 Orthopedic devices market segment snapshot
Figure 11 Orthopedic devices market competitive landscape snapshot
Figure 12 Market research process
Figure 13 Related/ancillary market outlook
Figure 14.Market dynamics
Figure 15 Market driver relevance analysis (Current & future impact)
Figure 16 Global percentage of population, by age group, 2000 and 2050
Figure 17 North America country-wise dynamics (population aged 65 years and above) (million)
Figure 18 Europe country-wise dynamics (population aged 65 years and above) (million)
Figure 19 Asia-Pacific country-wise dynamics (population aged 65 years and above) (million)
Figure 20 Latin America country-wise dynamics (population aged 65 years and above) (million)
Figure 21 MEA country-wise dynamics (population aged 65 years and above) (million)
Figure 22 Market restraint relevance analysis (Current & future impact)
Figure 23 Orthopedic devices market: PORTER’s Analysis
Figure 24 North America country-wise prevalence of Osteoarthritis (million)
Figure 25 North America country-wise prevalence of Rheumatoid arthritis(Thousand)
Figure 26 Europe country-wise prevalence of Osteoarthritis (million)
Figure 27 Europe country-wise prevalence of Rheumatoid arthritis(Thousand)
Figure 28 Asia-Pacific country-wise prevalence of Osteoarthritis (million)
Figure 29 Asia-Pacific country-wise prevalence of Rheumatoid arthritis(Thousand)
Figure 30 Latin America country-wise prevalence of Osteoarthritis (million)
Figure 31 Latin America country-wise prevalence of Rheumatoid arthritis(Thousand)
Figure 32 MEA country-wise prevalence of Osteoarthritis (million)
Figure 33 MEA country-wise prevalence of Rheumatoid arthritis(Thousand)
Figure 34 Orthopedic devices market, product outlook key takeaways (USD Billion)
Figure 35 Orthopedic devices market: product movement analysis 2023 & 2030 (USD Billion)
Figure 36 Drill guides market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 37 Guide tubes market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 38 Implant holder market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 39 Custom clamps market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 40 Distractor market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 41 Screw drivers market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 42 Accessories market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 43 Braces market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 44 Other accessories market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 45 Hip implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 46 Knee implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 47 Foot and ankle implants market revenue estimates and forecasts, 2018-2030 (USD Million)
Figure 48 Shoulder implants market revenue estimates and forecasts, 2018-2030 (USD Million)
Figure 49 Elbow implants market revenue estimates and forecasts, 2018-2030 (USD Million)
Figure 50 Hand & wrist implants market revenue estimates and forecasts, 2018-2030 (USD Million)
Figure 51 Spinal fusion implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 52 Spinal non-fusion implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 53 Dental implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 54 Caraniomaxillofacial implants market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 55 Other orthopedic devices market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 56 Orthopedic devices market, End-use outlook key takeaways (USD Billion)
Figure 57 Orthopedic devices market: End-use movement analysis 2023 & 2030 (USD Billion)
Figure 58 Hospitals market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 59 Outpatient facilities market revenue estimates and forecasts, 2018-2030 (USD Billion)
Figure 60 Regional marketplace: Key takeaways
Figure 61 Orthopedic devices market: Regional outlook, 2023 & 2030 (USD Billion)
Figure 62 North America: SWOT analysis
Figure 63 North America orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 64 U.S Country Dynamics
Figure 65 U.S. orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 66 Canada Country Dynamics
Figure 67 Canada orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 68 Europe: SWOT analysis
Figure 69 Europe orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 70 U.K.: Country Dynamics
Figure 71 UK orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 72 Germany Country Dynamics
Figure 73 Germany orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 74 France Country Dynamics
Figure 75 France orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 76 Italy Country Dynamics
Figure 77 Italy orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 78 Spain Country Dynamics
Figure 79 Spain orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 80 Norway Country Dynamics
Figure 81 Norway orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 82 Denmark Country Dynamics
Figure 83 Denmark orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 84 Sweden Country Dynamics
Figure 85 Sweden orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 86 Asia-Pacific: SWOT analysis
Figure 87 Asia-Pacific orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 88 China: Country Dynamics
Figure 89 China orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 90 Japan: Country Dynamics
Figure 91 Japan orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 92 India: Country Dynamics
Figure 93 India orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 94 Australia: Country Dynamics
Figure 95 Australia orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 96 South Korea: Country Dynamics
Figure 97 South Korea orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 98 Singapore: Country Dynamics
Figure 99 Thailand orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 100 Latin America: SWOT analysis
Figure 101 Latin America orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 102 Brazil: Country Dynamics
Figure 103 Brazil orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 104 Mexico Country Dynamics
Figure 105 Mexico orthopedic devices market estimates and forecasts, 2018-2030 (USD Billion)
Figure 106 Argentina: Country Dynamics
Figure 107 Argentina orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 108 Middle East and Africa: SWOT analysis
Figure 109 MEA orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 110 South Africa: Country Dynamics
Figure 111 South Africa orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 112 Saudi Arabia: Country Dynamics
Figure 113 Saudi Arabia orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 114 UAE: Country Dynamics
Figure 115 UAE orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 116 Kuwait: Country Dynamics
Figure 117 Kuwait orthopedic devices market estimates and forecasts, 2018-2030 (USD Million)
Figure 118 Key company categorization
Figure 119 Strategic framework

Companies Mentioned

  • NuVasive, Inc
  • Medtronic
  • Stryker
  • Zimmer Biomet
  • Smith+Nephew
  • Aesculap Implant Systems, LLC (B.Braun)
  • CONMED Corporation.
  • DePuy Synthes (Johnson & Johnson)
  • Enovis (DJO, LLC).

Methodology

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Table Information