orthopedic devices market

In today’s fast-paced world, maintaining health and strength has become a crucial task for individuals of all ages. When it comes to addressing bones, muscle, or joint injuries, orthopedic devices play a pivotal role in providing support and improving quality of life. In this blog, we will shed light on the significance of orthopedic devices and the top 10 companies operating in the orthopedic devices market.

What Are Orthopedic Devices?

Orthopedic devices are medical implants designed to prevent or handle musculoskeletal pains or replace a missing joint or bone. These devices are made using stainless steel and titanium alloys, and it is coated with plastic, which acts as artificial cartilage. These devices are frequently employed to treat a range of orthopedic diseases, such as fractures, osteoarthritis, sports injuries, spinal abnormalities, and deformities.

According to Polaris Market Research, the orthopedic devices market was valued at USD 38 billion in 2022, and it is anticipated to rise to USD 57.76 billion with a CAGR of 4.47% during the forecast period.

Now, let’s see who’s leading the market

Market Key Players

#1 Medtronic PLC:

Medtronic plc is an American medical device company that produces medical devices and therapies, such as insulin pumps, pacemakers, and diabetes therapies. After acquiring Irish-based Covidien in 2015, the company established its legal headquarters in Ireland, while its operational and executive headquarters remain located in Minneapolis, Minnesota.

#2 Stryker Corporation

It is one of the world’s leading medical technology companies based in Kalamazoo, Michigan. Stryker specializes in making products including implants used in joint replacement, patient handling and neurosurgical, surgical equipment, emergency medical equipment, neurovascular and spinal devices, and other medical device used in a variety of medical specialties.

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#3 Zimmer-Biomet Holdings, Inc.

Zimmer-Biomet Holdings is a global medical technology leader. Founded in 1927, the company is headquartered in Warsaw, Indiana, where it is a member of the business cluster for medical equipment. The firm sells bone cement and other surgical supplies, as well as orthopedic, dental, and spinal reconstructive implants. Zimmer sells its products in more than 100 countries and operates in more than 40 of them.

#4 DePuy Synthes

It is a global leader in manufacturing and distributing medical devices, mainly focused on orthopedic devices. DePuy Synthes was acquired by Johnson & Johnson in 1998. The company offers advanced technology, devices, and services in the field of joint reconstruction, spine, sports medicine, power tools and biomaterials, and trauma.

#5 Smith and Nephew PLC

Smith and Nephew PLC, also known as Smith+Nephew, is a global medical technology company founded in 1856 and headquartered in Watford, England. The company emphasizes repairing, replacing, and regenerating soft and hard tissue. Its products are offered in more than a hundred nations.

#6 Aesculap Implant Systems, LLC

It is a leading global provider of orthopedic implants and instruments. With a strong commitment to advancing healthcare and improving patient outcomes, the company offers a comprehensive portfolio of innovative solutions for various orthopedic procedures. The company specializes in areas such as joint replacement, spine surgery, and trauma surgery.

#7 Conmed Corporation

Conmed Corporation is a well-known medical technology company that specializes in providing surgical devices and patient monitoring products and services for minimally invasive procedures and monitoring. Their offerings include implants, arthroscopy instruments, powered surgical tools, orthobiologics, and patient positioning systems. These products are designed to support orthopedic procedures such as joint reconstruction, sports medicine, trauma surgery, and minimally invasive surgeries.

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#8 Donjoy, Inc.

Donjoy, also known as DJO Global, is an American medical device company that specializes in offering cutting-edge treatments for injuries sustained in sports, post-operative rehabilitation, and musculoskeletal problems. Headquartered in Lewisville, Texas, the company offers a wide range of products, including braces, supports, and rehabilitation devices.

#9 NuVasive, Inc.

NuVasive, Inc. is a medical device company specializing in innovative surgical solutions for the spine. Headquartered in San Diego, California, the company is dedicated to developing medical techniques and equipment primarily for minimally invasive spine surgery.

What Is the Market’s Future?

The orthopedic devices market size is expected to grow during the forecast period owing to various factors such as the aging population and rising incidence of musculoskeletal disorders and chronic conditions. Technological advancements and innovations in materials and surgical techniques will lead to more advanced and effective orthopedic implants and instruments.