Europe Orthopedic Devices Market Size & Outlook, 2023-2030
Europe Orthopedic Devices Market, 2018-2030 (US$M)
Global Market
Related Markets
Europe orthopedic devices market highlights
- The Europe orthopedic devices market generated a revenue of USD 14,911.7 million in 2023.
- The market is expected to grow at a CAGR of 4.1% from 2024 to 2030.
- In terms of segment, joint replacement/ orthopedic implants was the largest revenue generating product in 2023.
- Trauma is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Italy is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 14,911.7 million |
| Market revenue in 2030 | USD 19,782.8 million |
| Growth rate | 4.1% (CAGR from 2023 to 2030) |
| Largest segment | Joint replacement/ orthopedic implants |
| Fastest growing segment | Trauma |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Joint Replacement/ Orthopedic Implants, Trauma, Sports Medicine, Orthobiologics |
| Key market players worldwide | Medtronic PLC, Stryker Corp, Zimmer Biomet Holdings Inc, DePuy Synthes, Smith & Nephew PLC, Aesculap, Conmed Corp, NuVasive, Enovis Corp |
Other key industry trends
- In terms of revenue, Europe region accounted for 24.7% of the global orthopedic devices market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 16,853.3 million by 2030.
The percentage of geriatric population has been increasing in Europe. According to Eurostat, it is expected to be 129.8 million by 2050. The geriatric population is more susceptible to age-related wear and tear of tendons and other soft tissues, thus forming a substantial patient pool for the treatment using orthopedic devices.
According to a research article published in ScienceDirect in 2018, approximately 20% of all non-fatal injuries are sports-related in Europe. Sports injuries are a major cause of tendon tears and ruptures. Strenuous physical activity or high-contact sports are leading causes of tendon ruptures, which often require surgery, thereby driving the market growth in this region.
Growing number of people actively participating in some form of sports is also contributing to increase in the incidence of sports-related injuries. The European Union’s healthcare spending in 2019 was 9.92% of its GDP.
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Orthopedic Devices Market Scope
Orthopedic Devices Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Medtronic PLC | View profile | 95,000 | Lower Hatch Street, 20 On Hatch, Dublin, Ireland, 2 | www.medtronic.com |
| Stryker Corp | View profile | 52,000 | 1941 Stryker Way, Portage, MI, United States, 49002 | www.stryker.com |
| Zimmer Biomet Holdings Inc | View profile | 18,000 | 345 East Main Street, Warsaw, IN, United States, 46580 | www.zimmerbiomet.com |
| DePuy Synthes | View profile | 5001-10000 | Raynham, Massachusetts, United States, North America | depuysynthes.com |
| NuVasive | View profile | 1001-5000 | San Diego, California, United States, North America | www.nuvasive.com |
| Smith & Nephew PLC | View profile | 18,452 | Hatters Lane, Building 5, Croxley Park, Watford, Hertfordshire, United Kingdom, WD18 8YE | www.smith-nephew.com |
| Conmed Corp | View profile | 4,000 | 11311 Concept Boulevard, Largo, FL, United States, 33773 | www.conmed.com |
| Enovis Corp | View profile | 6,550 | 2711 Centerville Road, Suite 400, Wilmington, DE, United States, 19808 | www.enovis.com |
| Aesculap | View profile | 251-500 | Kelayres, Pennsylvania, United States, North America | www.aesculapusa.com |
Europe Orthopedic Devices Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Orthopedic Devices Market Outlook will help companies and investors design strategic landscapes.
Joint Replacement/ Orthopedic Implants was the largest segment with a revenue share of 41.85% in 2023.
Horizon Databook has segmented the Europe orthopedic devices market based on joint replacement/ orthopedic implants, trauma, sports medicine, orthobiologics covering the revenue growth of each sub-segment from 2018 to 2030.
The percentage of geriatric population has been increasing in Europe. According to Eurostat, it is expected to be 129.8 million by 2050. The geriatric population is more susceptible to age-related wear and tear of tendons and other soft tissues, thus forming a substantial patient pool for the treatment using orthopedic devices.
According to a research article published in ScienceDirect in 2018, approximately 20% of all non-fatal injuries are sports-related in Europe. Sports injuries are a major cause of tendon tears and ruptures. Strenuous physical activity or high-contact sports are leading causes of tendon ruptures, which often require surgery, thereby driving the market growth in this region.
Growing number of people actively participating in some form of sports is also contributing to increase in the incidence of sports-related injuries. The European Union’s healthcare spending in 2019 was 9.92% of its GDP.
- Europe Orthopedic Devices Market Product Outlook (Revenue, USD Million , 2018-2030)
- Joint Replacement/ Orthopedic Implants
- Trauma
- Sports Medicine
- Orthobiologics
- Others
- Europe Orthopedic Devices Market End Use Outlook (Revenue, USD Million , 2018-2030)
- Hospitals
- Outpatient Facilities
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe Orthopedic Devices Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Europe Orthopedic Devices Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Europe Orthopedic Devices Market, 2018-2030 (US$M)
Europe orthopedic devices market statistics, by product, 2018-2030 (US$M)
