Trauma Implant Market Size and Share
Market Definition
Implants and instruments such as plates, screws, intramedullary nails, pins, wires, staples and external fixators.
October 2024 (update coming January 2025)
Mike Evers, Senior Market Analyst
Welcome to our overview of the trauma market. This page builds upon and updates our trauma chapter in THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT®.
The Market at a Glance
Trauma market sales surpassed $8.5 billion in 2023, accounting for 14% of the $59 billion global orthopedic market. The segment overperformed through 2023 after softer procedure volumes during the prior year. Overall, the market remained resilient through the pandemic and subsequent disruption, driven by higher growth subsegments like foot and ankle.
Market Forecast
Trauma procedure volumes normalized throughout 2023, offset by price declines in China. We project the segment will reach $9 billion in sales in 2024 and grow to $10.2 billion by 2027. Favorable demographics, underserved markets and a renewed focus on core trauma will drive growth over the next few years.
Exhibit 1: Worldwide Trauma Sales by Year ($millions)
Get More Orthopedic Market Data. Download the Orthopedic Companies Sales Matrix for our most complete and granular numbers. It contains worldwide orthopedic sales for 75 public and private companies by segment from 2016 through 2024.
Patient demographics, virtually untapped opportunities within foot and ankle as well as renewed focus on core trauma informed our forecast.
Demographic Tailwinds
Foot and ankle, as well as the trauma segment in general, benefit from patient demographic trends toward longer life but increased incidence of diabetes and obesity. According to the U.S. Department of Health and Human Services, about 16% of the U.S. population is aged 65 or older. By 2040, that percentage will increase to 22%. According to the Centers for Disease Control and Prevention (CDC), the prevalence of diagnosed diabetes in the U.S. population increased from 0.9% in 1958 to 10.5% in 2018. Likewise, a staggering 74% of the U.S. adult population had an overweight or obese body mass index per 2018 data published by the CDC.
Underserved Bunion Treatment Market
Treace Medical said its disruptive Lapiplasty procedure targets an estimated $5 billion opportunity in the U.S. The company identified 1.1 million surgical candidates, of which only 450,000 undergo bunion surgery yearly due to the liminitations of the current standards of care. While the overall foot and ankle market has evened out after a period of consolidation, segments like bunion surgery illustrate the significant and sustained growth potential of the market.
Refocusing on Core Trauma
The trauma segment endured market softness and price cuts due to volume-based procurement in China over the last few years. Those factors mitigating in 2024 will reinforce trauma’s steady growth rate. At the same time, companies are refocusing on core trauma after aligning their foot and ankle offerings. Stryker’s Pangea plating system will be its largest ever in trauma, a business the company expects to yield big results over the long term.
Our core trauma business was really diluted in its focus, and we were not paying as much attention to it. We have a great leadership team on core trauma with now dedicated R&D resources. The Wright Medical deal, it’s not just benefiting our extremities business, it’s providing more focus to core trauma, which is fueling terrific growth. We expect trauma to continue to be a very high-growth business for a long time to come.
Kevin Lobo, Stryker CEO
Sales by Region
As in other orthopedic segments, VBP in China drastically reduced trauma device prices. The shift brought a competitive advantage to domestic companies and knocked some international players out of the market. However, even some Chinese companies felt the pain. Weigao attributed most of its nearly 40% total sales decline in 2023 to VBP.
European markets saw healthy volumes in 2023, but companies must contend with higher costs due to upcoming MDR regulations. The large global players also reported modest headwinds from sanctions in Russia.
Exhibit 2: Trauma Sales by Region ($millions)
| Region | FY23 | FY22 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $5,622.8 | $5,280.7 | $342.2 | 6.5% |
| OUS | $2,909.5 | $2,720.3 | $189.2 | 7% |
| EMEA | $1,552.9 | $1,440.2 | $112.7 | 7.8% |
| APAC | $968.4 | $920.1 | $48.3 | 5.3% |
| ROW | $388.2 | $360.0 | $28.2 | 7.8% |
| Total | $8,532.4 | $8,001.0 | $531.4 | 6.6% |
Exhibit 3: Trauma Market Share by Region ($millions)
Top Companies
The top four companies in trauma – DePuy Synthes, Stryker, Zimmer Biomet and Smith+Nephew – control 70% of the market. DePuy Synthes and Stryker alone account for 56% of all trauma sales. The foot and ankle section of the market saw intense focus and consolidation around the pandemic period but has settled since then. Stryker attributed part of its success in the segment to renewed investment in core trauma.
Exhibit 4: Top 10 Trauma Players and All Others ($millions)
| Company | FY23 | FY22 | $ Chg | % Chg |
|---|---|---|---|---|
| DePuy Synthes | $2,651.2 | $2,554.6 | $96.6 | 3.8% |
| Stryker | $2,317.8 | $2,050.0 | $267.7 | 13.1% |
| Zimmer Biomet | $664.2 | $645.8 | $18.5 | 2.9% |
| Smith+Nephew | $490.0 | $474.4 | $15.6 | 3.3% |
| Acumed | $400.5 | $381.4 | $19.1 | 5% |
| Arthrex | $204.3 | $193.7 | $10.7 | 5.5% |
| Medartis | $195.1 | $171.8 | $23.3 | 13.6% |
| Treace Medical Concepts | $187.1 | $141.8 | $45.3 | 31.9% |
| Paragon 28 | $186.1 | $158.9 | $27.2 | 17.1% |
| Aesculap | $127.1 | $121.3 | $5.8 | 4.8% |
| All Others | $1,109.0 | $1,107.3 | $1.7 | (1%) |
| Segment Total | $8,532.4 | $8,001.0 | $531.4 | 6.6% |
Exhibit 5: Trauma Market Share by Company ($millions)
Procedure volume trends improved during 2023, but VBP drastically reduced the price of trauma devices in China. DePuy Synthes felt the impact but remains committed to the Chinese market as it grows into the largest in the world. Stryker has less exposure in China and continues to reap the rewards of its Wright Medical acquisition.
Smith+Nephew saw better trauma performance than in previous years but has yet to string together several strong quarters. Zimmer Biomet said it had strategic decisions to make about its trauma portfolio.
Foot and ankle consolidation settled from its frenetic pace from 2020 to 2022, but the segment’s rapid growth rate remains attractive. Due to foot and ankle sales, companies like Treace Medical, Paragon 28 and Enovis had some of the segment’s best performances in 2023.
Important Developments in the Trauma Market
The Acquisition that Keeps Giving
Stryker’s focus on core trauma improved after the acquisition of Wright Medical and now features an experienced leadership team with dedicated R&D resources. Stryker often highlights how much the acquisition exceeded expectations. The $5.4 billion deal, announced in November 2020 and subjected to a protracted close, turned out to be a great move. A smooth integration has unlocked Stryker’s offense across multiple trauma subsegments.
Foot and Ankle Market Slows Amid Increased Competition
Foot and ankle surgical volumes slowed in late 2023 and remained choppy through the first half of 2024. It’s is nothing new to the players in the space. With backlogged procedures now depleted and foot and ankle procedures prioritized lower than other specialties, we expect quarterly variability into 2025. This comes as orthopedics’ largest players expand their foot and ankle presence, increasing pressure on mid-tier companies like Paragon 28 and Treace Medical.
Orthofix’s Strategic Shift
Orthofix’s hectic 2023 included the integration of SeaSpine and a sudden leadership change. The combined organization emerged from the year with solid pro forma growth. However, the company also faces questions about its trauma business, which has grown below market average in recent years. The trauma business has taken a significant step forward recently, driven by a strategic shift to focus on the U.S. market where sales increased 15% through the first half of 2024.
Orthopedics is the DNA of this organization. The business is totally skewed on Europe where we are at the very, very high level of maturity. What we see in front of us is an enormous opportunity in the United States. There is a lot of focused investment that we are making right now in that market, not just around the marketing and sales, but also innovation.
Massimo Calafiore, Orthofix Medical CEO
Further Reading
Thanks for visiting! Need more insight on the trauma market? Questions and comments are always welcome. You can reach me by email. Until then, I’ve selected a few posts that give insight into our thinking on the trauma market.
August 14, 2024
,
Mike Evers
March 18, 2024
,
Carolyn LaWell
Our overview of the $8.6 billion trauma market includes up-to-date information on forecasted growth, the top companies and industry-driving trends.
Market Definition
Implants and instruments such as plates, screws, intramedullary nails, pins, wires, staples and external fixators.
October 2024 (update coming January 2025)
Mike Evers, Senior Market Analyst
Welcome to our overview of the trauma market. This page builds upon and updates our trauma chapter in THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT®.
The Market at a Glance
Trauma market sales surpassed $8.5 billion in 2023, accounting for 14% of the $59 billion global orthopedic market. The segment overperformed through 2023 after softer procedure volumes during the prior year. Overall, the market remained resilient through the pandemic and subsequent disruption, driven by higher growth subsegments like foot and ankle.
Market Forecast
Trauma procedure volumes normalized throughout 2023, offset by price declines in China. We project the segment will reach $9 billion in sales in 2024 and grow to $10.2 billion by 2027. Favorable demographics, underserved markets and a renewed focus on core trauma will drive growth over the next few years.
Exhibit 1: Worldwide Trauma Sales by Year ($millions)
Get More Orthopedic Market Data. Download the Orthopedic Companies Sales Matrix for our most complete and granular numbers. It contains worldwide orthopedic sales for 75 public and private companies by segment from 2016 through 2024.
Patient demographics, virtually untapped opportunities within foot and ankle as well as renewed focus on core trauma informed our forecast.
Demographic Tailwinds
Foot and ankle, as well as the trauma segment in general, benefit from patient demographic trends toward longer life but increased incidence of diabetes and obesity. According to the U.S. Department of Health and Human Services, about 16% of the U.S. population is aged 65 or older. By 2040, that percentage will increase to 22%. According to the Centers for Disease Control and Prevention (CDC), the prevalence of diagnosed diabetes in the U.S. population increased from 0.9% in 1958 to 10.5% in 2018. Likewise, a staggering 74% of the U.S. adult population had an overweight or obese body mass index per 2018 data published by the CDC.
Underserved Bunion Treatment Market
Treace Medical said its disruptive Lapiplasty procedure targets an estimated $5 billion opportunity in the U.S. The company identified 1.1 million surgical candidates, of which only 450,000 undergo bunion surgery yearly due to the liminitations of the current standards of care. While the overall foot and ankle market has evened out after a period of consolidation, segments like bunion surgery illustrate the significant and sustained growth potential of the market.
Refocusing on Core Trauma
The trauma segment endured market softness and price cuts due to volume-based procurement in China over the last few years. Those factors mitigating in 2024 will reinforce trauma’s steady growth rate. At the same time, companies are refocusing on core trauma after aligning their foot and ankle offerings. Stryker’s Pangea plating system will be its largest ever in trauma, a business the company expects to yield big results over the long term.
Our core trauma business was really diluted in its focus, and we were not paying as much attention to it. We have a great leadership team on core trauma with now dedicated R&D resources. The Wright Medical deal, it’s not just benefiting our extremities business, it’s providing more focus to core trauma, which is fueling terrific growth. We expect trauma to continue to be a very high-growth business for a long time to come.
Kevin Lobo, Stryker CEO
Sales by Region
As in other orthopedic segments, VBP in China drastically reduced trauma device prices. The shift brought a competitive advantage to domestic companies and knocked some international players out of the market. However, even some Chinese companies felt the pain. Weigao attributed most of its nearly 40% total sales decline in 2023 to VBP.
European markets saw healthy volumes in 2023, but companies must contend with higher costs due to upcoming MDR regulations. The large global players also reported modest headwinds from sanctions in Russia.
Exhibit 2: Trauma Sales by Region ($millions)
| Region | FY23 | FY22 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $5,622.8 | $5,280.7 | $342.2 | 6.5% |
| OUS | $2,909.5 | $2,720.3 | $189.2 | 7% |
| EMEA | $1,552.9 | $1,440.2 | $112.7 | 7.8% |
| APAC | $968.4 | $920.1 | $48.3 | 5.3% |
| ROW | $388.2 | $360.0 | $28.2 | 7.8% |
| Total | $8,532.4 | $8,001.0 | $531.4 | 6.6% |
Exhibit 3: Trauma Market Share by Region ($millions)
Top Companies
The top four companies in trauma – DePuy Synthes, Stryker, Zimmer Biomet and Smith+Nephew – control 70% of the market. DePuy Synthes and Stryker alone account for 56% of all trauma sales. The foot and ankle section of the market saw intense focus and consolidation around the pandemic period but has settled since then. Stryker attributed part of its success in the segment to renewed investment in core trauma.
Exhibit 4: Top 10 Trauma Players and All Others ($millions)
| Company | FY23 | FY22 | $ Chg | % Chg |
|---|---|---|---|---|
| DePuy Synthes | $2,651.2 | $2,554.6 | $96.6 | 3.8% |
| Stryker | $2,317.8 | $2,050.0 | $267.7 | 13.1% |
| Zimmer Biomet | $664.2 | $645.8 | $18.5 | 2.9% |
| Smith+Nephew | $490.0 | $474.4 | $15.6 | 3.3% |
| Acumed | $400.5 | $381.4 | $19.1 | 5% |
| Arthrex | $204.3 | $193.7 | $10.7 | 5.5% |
| Medartis | $195.1 | $171.8 | $23.3 | 13.6% |
| Treace Medical Concepts | $187.1 | $141.8 | $45.3 | 31.9% |
| Paragon 28 | $186.1 | $158.9 | $27.2 | 17.1% |
| Aesculap | $127.1 | $121.3 | $5.8 | 4.8% |
| All Others | $1,109.0 | $1,107.3 | $1.7 | (1%) |
| Segment Total | $8,532.4 | $8,001.0 | $531.4 | 6.6% |
Exhibit 5: Trauma Market Share by Company ($millions)
Procedure volume trends improved during 2023, but VBP drastically reduced the price of trauma devices in China. DePuy Synthes felt the impact but remains committed to the Chinese market as it grows into the largest in the world. Stryker has less exposure in China and continues to reap the rewards of its Wright Medical acquisition.
Smith+Nephew saw better trauma performance than in previous years but has yet to string together several strong quarters. Zimmer Biomet said it had strategic decisions to make about its trauma portfolio.
Foot and ankle consolidation settled from its frenetic pace from 2020 to 2022, but the segment’s rapid growth rate remains attractive. Due to foot and ankle sales, companies like Treace Medical, Paragon 28 and Enovis had some of the segment’s best performances in 2023.
Important Developments in the Trauma Market
The Acquisition that Keeps Giving
Stryker’s focus on core trauma improved after the acquisition of Wright Medical and now features an experienced leadership team with dedicated R&D resources. Stryker often highlights how much the acquisition exceeded expectations. The $5.4 billion deal, announced in November 2020 and subjected to a protracted close, turned out to be a great move. A smooth integration has unlocked Stryker’s offense across multiple trauma subsegments.
Foot and Ankle Market Slows Amid Increased Competition
Foot and ankle surgical volumes slowed in late 2023 and remained choppy through the first half of 2024. It’s is nothing new to the players in the space. With backlogged procedures now depleted and foot and ankle procedures prioritized lower than other specialties, we expect quarterly variability into 2025. This comes as orthopedics’ largest players expand their foot and ankle presence, increasing pressure on mid-tier companies like Paragon 28 and Treace Medical.
Orthofix’s Strategic Shift
Orthofix’s hectic 2023 included the integration of SeaSpine and a sudden leadership change. The combined organization emerged from the year with solid pro forma growth. However, the company also faces questions about its trauma business, which has grown below market average in recent years. The trauma business has taken a significant step forward recently, driven by a strategic shift to focus on the U.S. market where sales increased 15% through the first half of 2024.
Orthopedics is the DNA of this organization. The business is totally skewed on Europe where we are at the very, very high level of maturity. What we see in front of us is an enormous opportunity in the United States. There is a lot of focused investment that we are making right now in that market, not just around the marketing and sales, but also innovation.
Massimo Calafiore, Orthofix Medical CEO
Further Reading
Thanks for visiting! Need more insight on the trauma market? Questions and comments are always welcome. You can reach me by email. Until then, I’ve selected a few posts that give insight into our thinking on the trauma market.
August 14, 2024
,
Mike Evers
March 18, 2024
,
Carolyn LaWell
You are out of free articles for this month
Subscribe as a Guest for $0 and unlock a total of 5 articles per month.
You are out of five articles for this month
Subscribe as an Executive Member for access to unlimited articles, THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT and more.
