Product Code: PM3263
The global orthopedic devices market size is expected to reach USD 57,753.7 million by 2032, according to a new study by Polaris Market Research. The report "Orthopedic Devices Market Share, Size, Trends, Industry Analysis Report, By Offering (Software and Services); By Deployment Outlook; By Modality; By Model Size; By Application; By Industry Vertical; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing demand for robotics and navigation systems represents a significant opportunity for the orthopedic devices market as it enhances surgical precision, efficiency, and patient outcomes. These advanced technologies enable orthopedic surgeons to perform minimally invasive procedures with greater accuracy, reducing risks and enhancing recovery times. The increasing adoption of robotics in orthopedic surgeries allows for intricate tasks, such as joint replacements, to be performed with unprecedented precision. Navigation systems aid surgeons in real-time, three-dimensional mapping of anatomical structures, improving implant placement accuracy. This not only elevates the standard of care but also attracts investment and innovation in the orthopedic devices sector. As healthcare providers seek to offer state-of-the-art treatments, the integration of robotics and navigation systems becomes a compelling opportunity for manufacturers, driving advancements and market growth within the orthopedic devices industry.
Moreover, the knee application is a pivotal segment in the orthopedic devices market, addressing a range of conditions affecting the knee joint. Knee orthopedic devices include implants, prosthetics, and instrumentation utilized in procedures like knee arthroplasty (total knee replacement) and arthroscopy. These devices are designed to alleviate pain, restore joint function, and improve overall mobility. Advancements in knee implants involve the use of innovative materials, such as highly durable polyethylene and metal alloys, contributing to enhanced longevity and performance. Minimally invasive surgical techniques, coupled with computer-assisted navigation systems, have transformed knee surgeries, reducing recovery times and improving outcomes. The prevalence of osteoarthritis, sports-related injuries, and an aging population globally drive the demand for knee orthopedic devices. Continued research and development in materials and technologies further position knee applications as a key driver in the orthopedic devices market.
The dental application is an essential component of the orthopedic devices market, focusing on the treatment of conditions related to the oral and maxillofacial region. Dental orthopedic devices include implants, prosthetics, braces, and instruments used in procedures such as dental implantation, orthodontics, and maxillofacial surgeries. The spine application is a crucial component of the orthopedic devices market, addressing a spectrum of conditions related to the spine and vertebral column. Orthopedic devices for the spine include implants, screws, rods, and prosthetics, used in spinal fusion surgeries, disc replacement, and treatments for spinal deformities.
However, accessories play a crucial role in the orthopedic devices market, complementing various orthopedic interventions and enhancing overall patient care. These accessories encompass a wide range of products designed to support the use and functionality of orthopedic devices. Examples include surgical tools and instruments, fixation screws, pins, wires, and ancillary items like bone cement and sterilization trays. Accessories contribute to the precision and efficiency of orthopedic procedures, ensuring proper device placement and stability. Additionally, patient-specific accessories, such as orthopedic braces, support rehabilitation and postoperative care.
Orthopedic Devices Market Report Highlights
In 2023, the surgical devices segment accounted for the largest market share in the orthopedic devices market. As the demand for advanced orthopedic interventions grows, surgical devices continue to be instrumental in providing orthopedic surgeons with the tools needed for successful and innovative procedures, ultimately improving patient outcomes.
The SET segment is expected to grow at the fastest CAGR during the forecast period. With a growing emphasis on sports participation and an increase in traumatic incidents, this segment continues to drive innovation and growth within the broader orthopedic devices market.
In 2023, Europe dominated the largest market. The presence of leading orthopedic device manufacturers and ongoing collaborations with research institutions further solidify Europe's significance in shaping the global orthopedic devices market.
Asia Pacific is expected to grow at the fastest CAGR in orthopedic devices market. As healthcare accessibility improves, and as lifestyle-related orthopedic issues increase, the Asia Pacific region is poised to be a vital contributor to the global orthopedic devices market.
The global key market players are Medtronic, Stryker Corp, Zimmer Biomet, Johnson & Johnson Services, Inc., Smith and Nephew PLC, RCH Orthopaedics, CONMED Corporation, B. Braun SE, Enovis Corporation, NuVasive, Inc., Acumed LLC, Arthrex Inc., Allegra Medical Technologies Ltd, MicroPort Scientific Corporation, and Meril Life Sciences Pvt. Ltd.
Polaris Market Research has segmented the orthopedic devices market report based on product, application, and region.
Orthopedic Devices, Product Outlook (Revenue - USD Million, 2019 - 2032)
- Accessories
- Surgical Devices
Orthopedic Devices, Application Outlook (Revenue - USD Million, 2019 - 2032)
- Hip
- Knee
- Spine
- Cranio-Maxillofacial
- Dental
- SET
Orthopedic Devices, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of Asia Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
Table of Contents
1.Introduction
- 1.1.Report Description
- 1.1.1.Objectives of the Study
- 1.1.2.Market Scope
- 1.1.3.Assumptions
- 1.2.Stakeholders
2.Executive Summary
3.Research Methodology
- 3.1.Overview
- 3.2.Data Sources
- 3.2.1.Primary Sources
- 3.2.2.Secondary Sources
4.Global Orthopedic Devices Market Insights
- 4.1.Orthopedic Devices Market - Industry Snapshot
- 4.2.Orthopedic Devices Market Dynamics
- 4.2.1.Drivers and Opportunities
- 4.2.1.1.Growing Aging Population have been projected to spur market demand
- 4.2.1.2.Growing Demand of Robotics and Navigation Systems
- 4.2.2.Restraints and Challenges
- 4.2.2.1.High Cost of Orthopedic Devices
- 4.3.Porter's Five Forces Analysis
- 4.3.1.Bargaining Power of Suppliers (Moderate)
- 4.3.2.Threats of New Entrants: (Low)
- 4.3.3.Bargaining Power of Buyers (Moderate)
- 4.3.4.Threat of Substitute (Moderate)
- 4.3.5.Rivalry among existing firms (High)
- 4.4.PESTLE Analysis
- 4.5.Orthopedic Devices Industry trends
- 4.6.Value Chain Analysis
- 4.7.COVID-19 Impact Analysis
5.Global Orthopedic Devices Market, by Application
- 5.1.Key Findings
- 5.2.Introduction
- 5.2.1.Global Orthopedic Devices, by Application, 2019-2032 (USD Million)
- 5.3.Hip
- 5.3.1.Global Orthopedic Devices Market, by Hip, by Region, 2019-2032 (USD Million)
- 5.4.Knee
- 5.4.1.Global Orthopedic Devices Market, by Knee, by Region, 2019-2032 (USD Million)
- 5.5.Spine
- 5.5.1.Global Orthopedic Devices Market, by Spine, by Region, 2019-2032 (USD Million)
- 5.6.Cranio-Maxillofacial (CMF)
- 5.6.1.Global Orthopedic Devices Market, by Cranio-Maxillofacial (CMF), by Region, 2019-2032 (USD Million)
- 5.7.Dental
- 5.7.1.Global Orthopedic Devices Market, by Dental, by Region, 2019-2032 (USD Million)
- 5.8.SET
- 5.8.1.Global Orthopedic Devices Market, by SET, by Region, 2019-2032 (USD Million)
6.Global Orthopedic Devices Market, by Product
- 6.1.Key Findings
- 6.2.Introduction
- 6.2.1.Global Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 6.3.Accessories
- 6.3.1.Global Orthopedic Devices Market, by Accessories, by Region, 2019-2032 (USD Million)
- 6.4.Surgical Devices
- 6.4.1.Global Orthopedic Devices Market, by Surgical Devices, by Region, 2019-2032 (USD Million)
7.Global Orthopedic Devices Market, by Geography
- 7.1.Key findings
- 7.2.Introduction
- 7.2.1.Orthopedic Devices Market Assessment, By Geography, 2019-2032 (USD Million)
- 7.3.Orthopedic Devices Market - North America
- 7.3.1.North America: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.3.2.North America: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.3.3.Orthopedic Devices Market - U.S.
- 7.3.3.1.U.S.: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.3.3.2.U.S.: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.3.4.Orthopedic Devices Market - Canada
- 7.3.4.1.Canada: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.3.4.2.Canada: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.Orthopedic Devices Market - Europe
- 7.4.1.Europe: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.2.Europe: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.3.Orthopedic Devices Market - UK
- 7.4.3.1.UK: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.3.2.UK: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.4.Orthopedic Devices Market - France
- 7.4.4.1.France: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.4.2.France: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.5.Orthopedic Devices Market - Germany
- 7.4.5.1.Germany: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.5.2.Germany: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.6.Orthopedic Devices Market - Italy
- 7.4.6.1.Italy: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.6.2.Italy: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.7.Orthopedic Devices Market - Spain
- 7.4.7.1.Spain: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.7.2.Spain: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.8.Orthopedic Devices Market - Netherlands
- 7.4.8.1.Netherlands: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.8.2.Netherlands: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.4.9.Orthopedic Devices Market - Russia
- 7.4.9.1.Russia: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.4.9.2.Russia: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.5.Orthopedic Devices Market - Asia Pacific
- 7.5.1.Asia Pacific: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.5.2.Asia Pacific: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.5.3.Orthopedic Devices Market - China
- 7.5.3.1.China: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.5.3.2.China: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.5.4.Orthopedic Devices Market - India
- 7.5.4.1.India: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.5.4.2.India: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.5.5.Orthopedic Devices Market - Malaysia
- 7.5.5.1.Malaysia: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.5.5.2.Malaysia: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.5.6.Orthopedic Devices Market - Japan
- 7.5.6.1.Japan: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.5.6.2.Japan: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.5.7.Orthopedic Devices Market - Indonesia
- 7.5.7.1.Indonesia: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.5.7.2.Indonesia: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.5.8.Orthopedic Devices Market - South Korea
- 7.5.8.1.South Korea: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.5.8.2.South Korea: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.6.Orthopedic Devices Market - Middle East & Africa
- 7.6.1.Middle East & Africa: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.6.2.Middle East & Africa: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.6.3.Orthopedic Devices Market - Saudi Arabia
- 7.6.3.1.Saudi Arabia: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.6.3.2.Saudi Arabia: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.6.4.Orthopedic Devices Market - UAE
- 7.6.4.1.UAE: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.6.4.2.UAE: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.6.5.Orthopedic Devices Market - Israel
- 7.6.5.1.Israel: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.6.5.2.Israel: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.6.6.Orthopedic Devices Market - South Africa
- 7.6.6.1.South Africa: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.6.6.2.South Africa: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.7.Orthopedic Devices Market - Latin America
- 7.7.1.Latin America: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.7.2.Latin America: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.7.3.Orthopedic Devices Market - Mexico
- 7.7.3.1.Mexico: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.7.3.2.Mexico: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.7.4.Orthopedic Devices Market - Brazil
- 7.7.4.1.Brazil: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.7.4.2.Brazil: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
- 7.7.5.Orthopedic Devices Market - Argentina
- 7.7.5.1.Argentina: Orthopedic Devices Market, by Product, 2019-2032 (USD Million)
- 7.7.5.2.Argentina: Orthopedic Devices Market, by Application, 2019-2032 (USD Million)
8.Competitive Landscape
- 8.1.Expansion and Acquisition Analysis
- 8.1.1.Expansion
- 8.1.2.Acquisitions
- 8.2.Partnerships/Collaborations/Agreements/Exhibitions
9.Company Profiles
- 9.1.Medtronic, Stryker Corp
- 9.1.1.Company Overview
- 9.1.2.Financial Performance
- 9.1.3.Product Benchmarking
- 9.1.4.Recent Development
- 9.2.Zimmer Biomet
- 9.2.1.Company Overview
- 9.2.2.Financial Performance
- 9.2.3.Product Benchmarking
- 9.2.4.Recent Development
- 9.3.Johnson & Johnson Services, Inc.
- 9.3.1.Company Overview
- 9.3.2.Financial Performance
- 9.3.3.Product Benchmarking
- 9.3.4.Recent Development
- 9.4.Smith and Nephew PLC
- 9.4.1.Company Overview
- 9.4.2.Financial Performance
- 9.4.3.Product Benchmarking
- 9.4.4.Recent Development
- 9.5.RCH Orthopaedics, CONMED Corporation
- 9.5.1.Company Overview
- 9.5.2.Financial Performance
- 9.5.3.Product Benchmarking
- 9.5.4.Recent Development
- 9.6.B. Braun SE
- 9.6.1.Company Overview
- 9.6.2.Financial Performance
- 9.6.3.Product Benchmarking
- 9.6.4.Recent Development
- 9.7.Enovis Corporation
- 9.7.1.Company Overview
- 9.7.2.Financial Performance
- 9.7.3.Product Benchmarking
- 9.7.4.Recent Development
- 9.8.NuVasive, Inc.
- 9.8.1.Company Overview
- 9.8.2.Financial Performance
- 9.8.3.Product Benchmarking
- 9.8.4.Recent Development
- 9.9.Acumed LLC
- 9.9.1.Company Overview
- 9.9.2.Financial Performance
- 9.9.3.Product Benchmarking
- 9.9.4.Recent Development
- 9.10.Arthrex Inc.
- 9.10.1.Company Overview
- 9.10.2.Financial Performance
- 9.10.3.Product Benchmarking
- 9.10.4.Recent Development
- 9.11.Allegra Medical Technologies Ltd.
- 9.11.1.Company Overview
- 9.11.2.Financial Performance
- 9.11.3.Product Benchmarking
- 9.11.4.Recent Development
- 9.12.MicroPort Scientific Corporation
- 9.12.1.Company Overview
- 9.12.2.Financial Performance
- 9.12.3.Product Benchmarking
- 9.12.4.Recent Development
- 9.13.Meril Life Sciences Pvt. Ltd.
- 9.13.1.Company Overview
- 9.13.2.Financial Performance
- 9.13.3.Product Benchmarking
- 9.13.4.Recent Development