As we wrap up earnings reports for the second quarter, the market seems to have lost some of the momentum it enjoyed during 2023.
Based on the results of a subset of public orthopedic companies that account for about two-thirds of the market, quarterly growth rates continue to decline, but sales remain robust.
We estimate the overall orthopedic market grew between 4% and 5% in the first half of 2024. It is worth remembering that the first half of 2023 generated some steep comparisons.
“It was a decent market up against a strong market last year,” said Enovis CEO Matt Trerotola. “We’re comfortable with the way the market is playing out this year. But for sure, there could have been a more favorable market in the last two quarters than there was.”
The second half of 2024 should experience relatively normal seasonality against more manageable comparisons. The global orthopedic market grew by +6.3% to $59 billion in 2023, according to our estimates. We remain confident in our projection that the market will grow +5.2% to $62 billion in 2024.
As we wrap up earnings reports for the second quarter, the market seems to have lost some of the momentum it enjoyed during 2023.
Based on the results of a subset of public orthopedic companies that account for about two-thirds of the market, quarterly growth rates continue to decline, but sales remain robust.
We estimate the overall...
As we wrap up earnings reports for the second quarter, the market seems to have lost some of the momentum it enjoyed during 2023.
Based on the results of a subset of public orthopedic companies that account for about two-thirds of the market, quarterly growth rates continue to decline, but sales remain robust.
We estimate the overall orthopedic market grew between 4% and 5% in the first half of 2024. It is worth remembering that the first half of 2023 generated some steep comparisons.
“It was a decent market up against a strong market last year,” said Enovis CEO Matt Trerotola. “We’re comfortable with the way the market is playing out this year. But for sure, there could have been a more favorable market in the last two quarters than there was.”
The second half of 2024 should experience relatively normal seasonality against more manageable comparisons. The global orthopedic market grew by +6.3% to $59 billion in 2023, according to our estimates. We remain confident in our projection that the market will grow +5.2% to $62 billion in 2024.
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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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