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Treace Medical, Paragon 28 and OrthoPediatrics are among the fastest-growing companies in orthopedics. If we exclude companies that grew primarily via transformative M&A like Enovis and Globus Medical, those three companies join an even shorter list. Plus, all three of those players are in the neighborhood of $200 million in annual orthopedic sales, a fairly sizable base.
From 2018 to our estimated 2024 finish, Treace Medical raced out to a CAGR of 33.6%. Treace’s growth slowed in 2024 as it faced a rapidly evolving landscape and increased competitive pressure. We estimate the company will generate $205.6 million in 2024, up 9.9% compared to 2023.
Paragon 28 faced many of those same pressures during 2024, but its broader reach into all foot and ankle subsegments meant no one headwind became too disruptive to manage. The company expanded that reach with 13 new product launches during the year, including its first enabling technology launch. We estimate that Paragon 28 will finish 2024 with $253.4 million in sales, representing a CAGR of 17.8%
OrthoPediatrics still flies under the radar in terms of competition from the largest orthopedic players. We estimate the company will generate $175.2 million in orthopedic sales for 2024, a CAGR of 17.2% since 2018. While the company may have faced easier competition compared to Treace and Paragon 28, it dealt with its own specialized headwinds in the pediatric market like volume and staffing levels. Still, OrthoPediatrics navigated those obstacles and aims to control 50% of the pediatric trauma and deformity market over the next few years.
Treace Medical, Paragon 28 and OrthoPediatrics are among the fastest-growing companies in orthopedics. If we exclude companies that grew primarily via transformative M&A like Enovis and Globus Medical, those three companies join an even shorter list. Plus, all three of those players are in the neighborhood of $200 million in annual orthopedic...
Treace Medical, Paragon 28 and OrthoPediatrics are among the fastest-growing companies in orthopedics. If we exclude companies that grew primarily via transformative M&A like Enovis and Globus Medical, those three companies join an even shorter list. Plus, all three of those players are in the neighborhood of $200 million in annual orthopedic sales, a fairly sizable base.
From 2018 to our estimated 2024 finish, Treace Medical raced out to a CAGR of 33.6%. Treace’s growth slowed in 2024 as it faced a rapidly evolving landscape and increased competitive pressure. We estimate the company will generate $205.6 million in 2024, up 9.9% compared to 2023.
Paragon 28 faced many of those same pressures during 2024, but its broader reach into all foot and ankle subsegments meant no one headwind became too disruptive to manage. The company expanded that reach with 13 new product launches during the year, including its first enabling technology launch. We estimate that Paragon 28 will finish 2024 with $253.4 million in sales, representing a CAGR of 17.8%
OrthoPediatrics still flies under the radar in terms of competition from the largest orthopedic players. We estimate the company will generate $175.2 million in orthopedic sales for 2024, a CAGR of 17.2% since 2018. While the company may have faced easier competition compared to Treace and Paragon 28, it dealt with its own specialized headwinds in the pediatric market like volume and staffing levels. Still, OrthoPediatrics navigated those obstacles and aims to control 50% of the pediatric trauma and deformity market over the next few years.
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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.
