The Numbers

Orthopedic Market Report

Orthopedic Market Size and Share

Global orthopedic sales totaled $59 billion in 2023, an increase of 6.5% compared to 2022. Read our regularly updated analysis of the orthopedic market, including sales forecasts for all segments, company revenue and insight into key trends.

Orthopedic investors are prioritizing later-stage companies with a clear path to commercialization and profitability.

Equity Markets: Is It Time to Worry?

Orthopedic investors are prioritizing later-stage companies with a clear path to commercialization and profitability.

The orthopedic market will finish 2023 with significantly elevated growth rates compared to its historical norms.

Orthopedic Growth in FY23 Well Above Historical Rates

The orthopedic market will finish 2023 with significantly elevated growth rates compared to its historical norms.

Zimmer Biomet Officially Enters Growth Era

Healthy end markets and a robust innovation pipeline drive mid-single-digit growth for the company in 2023.

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Pixee Medical Accelerates Expansion in the US

Pixee closed a $15 million capital raising to accelerate commercialization in the U.S. and launch next-generation products.

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Orthopedic Funding Slows, Focuses on Digital

While economic pressure slowed orthopedic funding in recent years, there is ample capital for enabling technology companies.

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CONMED’s Ortho Offense Handcuffed by Supply Issues

The company grew in the mid-teens for 2023 but can’t fully go on offense until it resolves its supply chain issues.

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Stryker Remains Gold Standard Among Ortho Peers

The company’s orthopedic sales grew nearly 10% in 2023, driven by strong procedure demand, leadership in robotics and momentum in trauma.

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Synergy Spine Closes $30 Million Financing

Funds will support clinical trials, regulatory filing and ex-U.S. commercialization of the company’s artificial cervical disc.

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icotec Raises $30 Million in Growth Financing

icotec is commercializing BlackArmor Carbon/PEEK products that may offer significant clinical advantages over traditional metal implants in the context of spine oncology.

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Funding Secured for Orthopedic Robotic Surgical Startups

These companies address unmet clinical needs in the medTech and robotics space, spanning indications such as orthopedics and spine surgery.

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DePuy Synthes Climbs Back to Pre-Pandemic Levels

The company grew in the mid-single-digits in 2023 as new products and recovering markets fueled its rebound to pre-COVID levels.

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Accelus Closes $20 Million Debt Facility

The infusion will support salesforce expansion in underpenetrated markets and accelerate clinical research and product development efforts.

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Bolt Navigation Closes Series B Financing

Funds will support commercialization and new application development of the Bolt Navigation System for spine surgeries.

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Burning Questions for the Top Orthopedic Players in 2024

Public orthopedic companies with over $2 billion in annual sales control more than 60% of the market, but face questions in 2024.

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Spine-Related M&A Rebounds After Weak 2022

We expect around 30 orthopedic M&A transactions in 2024 with activity remaining focused on spine-related assets.

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Orthopedic Market Poised for Strong 2024

We expect another year of elevated growth rates, accelerating consolidation and economic stress for the orthopedic industry.

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Equity Markets: Is It Time to Worry?

Orthopedic investors are prioritizing later-stage companies with a clear path to commercialization and profitability.

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