ORTHOWORLD Estimates Worldwide Orthopedic Market Grew to $55.5 Billion

In a year with largely stable surgical volumes, the orthopedic market grew 3.5% in 2022, according to THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT®.

ORTHOWORLD® Inc. today released public and private orthopedic company sales estimates along with Joint Replacement, Spine, Trauma, Sports Medicine, Orthobiologics and Enabling Technology market projections in its latest installment of THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT®.

The eight largest orthopedic companies—Stryker, DePuy Synthes, Zimmer Biomet, Smith+Nephew, Medtronic, Arthrex, NuVasive and Globus Medical—each have revenue exceeding $1 billion annually, and together control 66% of the market. The number of top companies will soon drop to seven after Globus Medical completes its pending acquisition of NuVasive later this year.

“In 2021, Stryker reclaimed the No. 1 position in orthopedics due to its acquisition of Wright Medical,” said Mike Evers, ORTHOWORLD’s Senior Market Analyst. “Globus Medical’s acquisition of NuVasive and Orthofix’s acquisition of SeaSpine emphasize the continued consolidation and changing dynamics of the major players.”

According to ORTHOWORLD, the orthopedic market has more than 1,000 active companies, which are categorized into five tiers based on global annual revenue:

  • Over $1 billion
  • Between $400 million and $999 million
  • Between $200 million and $399 million
  • Between $100 million and $199 million
  • All other companies below $100 million

Only 46 of the 1,000+ companies generated more than $100 million in orthopedic revenue in 2022, according to ORTHOWORLD. Those 46 companies account for 84% of all orthopedic sales worldwide, and their revenue data is detailed in the annual report. Segment-specific chapters on the Joint Replacement, Spine, Trauma, Sports Medicine, Orthobiologics and Enabling Technology markets provide insight into company sales, market dynamics and business critical trends.

“Our proprietary revenue estimates and four-year market forecasts are vital and popular components of our annual report,” said Carolyn LaWell, Chief Content Officer at ORTHOWORLD®. “Our Executive-level Members use the report for various purposes. These Members are primarily C-level executives at orthopedic device companies who use the intel to validate and drive internal decisions, forecast market and company growth, analyze the competition and identify acquisition targets. A contingent of orthopedic supplier executives uses the report to stay current with the pressing issues facing their OEM customers.

“Our Elite-level Members require historical performance in addition to current data to bolster their internal models, predictions and plans. In this way, the annual report is a great starting point to explore our exclusive revenue models. Every report and data file that we create is available to Elite Members.”

THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT is included as a benefit of ORTHOWORLD Membership. The report and other information products are also available for standalone purchase. Learn more at ORTHOWORLD.com.

About ORTHOWORLD®
ORTHOWORLD® is a highly specialized media firm offering strategic intelligence, integrated advertising and educational conferences exclusively to the global orthopedic market.

Source: ORTHOWORLD



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