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Our chart of the month shows orthopedic sales for 2023 and 2022 by company revenue tier. There are more than 1,000 active companies in orthopedics, and we group those companies into four tiers based on annual orthopedic revenue:
- $1 billion or more (7 companies)
- $400 million to $999 million (9 companies)
- $200 million to $399 million (9 companies)
- $100 million to $199 million (20 companies)
Just a few dozen players generate more than $100 million in annual orthopedic sales, and those companies account for 85% of the $59 billion global orthopedic market. The quest for scale and differentiated enabling technologies drives a fresh wave of consolidation.
Top-tier players with more than $1 billion in annual sales account for more than 66% of the market and will soon see new entrants. Enovis will almost certainly join the top-tier companies by the end of 2024 thanks to its acquisition of LimaCorporate. Orthofix’s realigned growth priorities could generate the necessary push. ATEC expects to eclipse the $1 billion mark in 2027.
Medacta quietly built itself into a formidable contender through its unique portfolio and approach. The company is more public-facing in 2024, and you can read more about its strategy in our upcoming Q&A with CEO Francesco Siccardi. Medacta expects mid-teens growth in 2024, moving it closer to the top of its current revenue tier.
The shift toward digital technologies and services favors the industry’s largest players. We expect mid-tier and smaller players to face increasing pressure as digital exerts more force on the orthopedic market.
Our chart of the month shows orthopedic sales for 2023 and 2022 by company revenue tier. There are more than ,000 active companies in orthopedics, and we group those companies into four tiers based on annual orthopedic revenue:
$1 billion or more (7 companies)
$400 million to $999 million (9 companies)
$200 million to $399...
Our chart of the month shows orthopedic sales for 2023 and 2022 by company revenue tier. There are more than 1,000 active companies in orthopedics, and we group those companies into four tiers based on annual orthopedic revenue:
- $1 billion or more (7 companies)
- $400 million to $999 million (9 companies)
- $200 million to $399 million (9 companies)
- $100 million to $199 million (20 companies)
Just a few dozen players generate more than $100 million in annual orthopedic sales, and those companies account for 85% of the $59 billion global orthopedic market. The quest for scale and differentiated enabling technologies drives a fresh wave of consolidation.
Top-tier players with more than $1 billion in annual sales account for more than 66% of the market and will soon see new entrants. Enovis will almost certainly join the top-tier companies by the end of 2024 thanks to its acquisition of LimaCorporate. Orthofix’s realigned growth priorities could generate the necessary push. ATEC expects to eclipse the $1 billion mark in 2027.
Medacta quietly built itself into a formidable contender through its unique portfolio and approach. The company is more public-facing in 2024, and you can read more about its strategy in our upcoming Q&A with CEO Francesco Siccardi. Medacta expects mid-teens growth in 2024, moving it closer to the top of its current revenue tier.
The shift toward digital technologies and services favors the industry’s largest players. We expect mid-tier and smaller players to face increasing pressure as digital exerts more force on the orthopedic market.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
