We estimate that orthopedic sales grew by 3.5% in 2022 to a worldwide total of $55.5 billion. Our chart of the month shows global orthopedic sales and percentage growth by product segment for 2022.
Orthopedic companies contended with multiple macro headwinds throughout the year. Supply chain constraints, hospital staffing shortages, recessionary fears and volume-based procurement in China all impacted companies to various degrees. A softer trauma market and changing capital equipment purchase models also played a role.
Above-average growth in joint replacement, however, pushed the overall market to a better-than-expected finish. Procedure volumes in the joint replacement segment spent two years under historical norms before regaining momentum in 2022. There is some debate as to the nature and sustainability of the procedural tailwind.
“I know there are views out there that there’s a pent-up backlog that could push the recon growth higher,” said Enovis CEO Matt Trerotola. “If that opportunity presents itself, we’ll be participating in it. But we’re planning for a more normal market environment for recon in 2023.”
We estimate that orthopedic sales grew by 3.5% in 2022 to a worldwide total of $55.5 billion. Our chart of the month shows global orthopedic sales and percentage growth by product segment for 2022.
Orthopedic companies contended with multiple macro headwinds throughout the year. Supply chain constraints, hospital staffing shortages,...
We estimate that orthopedic sales grew by 3.5% in 2022 to a worldwide total of $55.5 billion. Our chart of the month shows global orthopedic sales and percentage growth by product segment for 2022.
Orthopedic companies contended with multiple macro headwinds throughout the year. Supply chain constraints, hospital staffing shortages, recessionary fears and volume-based procurement in China all impacted companies to various degrees. A softer trauma market and changing capital equipment purchase models also played a role.
Above-average growth in joint replacement, however, pushed the overall market to a better-than-expected finish. Procedure volumes in the joint replacement segment spent two years under historical norms before regaining momentum in 2022. There is some debate as to the nature and sustainability of the procedural tailwind.
“I know there are views out there that there’s a pent-up backlog that could push the recon growth higher,” said Enovis CEO Matt Trerotola. “If that opportunity presents itself, we’ll be participating in it. But we’re planning for a more normal market environment for recon in 2023.”
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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.
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