Orthopedic Devices Market Size, Share & Trends Report

Orthopedic Devices Market Size, Share & Trends Analysis Report By Application (Hip, Knee, Spine, Dental, Craniomaxillofacial, Sports Injuries, Extremities, and Trauma), By Product, And Segment Forecasts, 2018 - 2024

  • Published Date: Jun, 2018
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-928-9
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2015
  • Number of Pages: 80

Industry Insights

The global orthopedic devices market size was valued at USD 30.5 billion in 2017. It is anticipated to expand at a CAGR of 4.4% over the forecast period. High prevalence of orthopedic conditions such as degenerative bone disease and rising geriatric population are some of the major market drivers. Increasing number of road accidents are expected to further propel market growth. Additionally, obesity and sedentary lifestyles resulting in early onset of musculoskeletal conditions are expected to boost market expansion during the forecast period.

Japan orthopedic devices market

Currently available trauma management techniques are incapable of successfully and fully restoring bones and joints. As a result, to cater to growing demand, manufacturers are investing significantly in research and development (R&D) activities to develop innovative and efficient devices. High R&D is expected to ensure enhanced growth opportunities in future.

Rising awareness regarding availability of innovative products among patients is pushing hospitals to constantly upgrade devices and services they offer. In addition, reimbursement coverage of orthopedic treatments has fueled adoption of advanced surgeries. These factors encourage customers to opt for advanced and high-priced devices, thus adding to total revenue generation of the sector.

Along with introduction of advanced products, prices for their older versions reduce significantly. This helps in driving adoption of advanced devices in developing countries where medical reimbursement is partially available or is completely unavailable. Such regions include Asia Pacific, Latin America, and Middle East and Africa. The cumulative effect of these activities is expected to result in increasing procedural volume and thus, fueling the growth of the orthopedic devices market.

On the other hand, high cost and longer follow-up period are the major factors challenging market growth. Moreover, stringent regulatory guidelines for approval of class III medical devices are slowing down approvals of new products.

Application Insights

The knee orthopedic devices segment captured the largest market share in 2016. It is anticipated to maintain its dominance over the forecast period with rising volume of knee surgeries. Rise in geriatric population suffering from knee problems is primarily driving demand for knee surgeries.

Global orthopedic devices market

The sports injuries, extremities, and trauma segment is expected to expand at the fastest CAGR during the forecast period. Rise in sports and road injuries, coupled with high awareness regarding availability of treatment options for these injuries, is anticipated fuel demand for surgical solutions for this segment.

High demand for devices that support immediate cure is anticipated to trigger entry of innovative products. In addition, sports organizations working to boost morale of sportspersons disabled by sports injuries are expected to engage in research and development of treatment solutions for serious sports injuries.

Regional Insights

North America captured the largest revenue share in 2016. High demand for advanced healthcare services owing to availability of well-developed healthcare infrastructure and reimbursement coverage are some of the factors driving regional growth.

Asia Pacific is expected to exhibit the fastest growth during the forecast period. China and India together account for the largest pool of geriatric population across the world. As a result, demand for orthopedic surgeries in China and India is expected to grow tremendously in future. In addition, a booming medical tourism industry owing to availability of advanced healthcare treatments at a cheaper cost is expected to attract target patient population from other geographies to Asia Pacific.

Japan is home to a large number of implant manufacturers. It also has a high healthcare expenditure compared to other countries in the region. This, in addition to high adoption of novel technologies, is expected to fuel market growth in Japan.

Orthopedic Devices Market Share Insights

The global market is dominated by a few international players. Major market players include MedtronicPLC; Stryker Corporation; Zimmer-Biomet Holdings, Inc.; DePuy Synthes; Smith and Nephew PLC; Aesculap Implant Systems, LLC; Conmed Corporation; Donjoy, Inc.; and NuVasive, Inc.

Market players focus on continuous product development and competitive pricing, especially in developing countries. Minimally invasive orthopedic devices that do not require repeat procedures are expected to boost the number of procedures in developed as well as developing regions.

Report Scope



Base year for estimation


Actual estimates/Historical data

2014 - 2015

Forecast period

2016 - 2024

Market representation

Revenue in USD Million & CAGR from 2016 to 2024

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Country Scope

U.S., Canada, U.K., Germany, China, Japan, Mexico, Brazil, South Africa

Report coverage  

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of latest industry trends in each of the sub-segments from 2014 to 2024. For the purpose of this study, Grand View Research has segmented the global orthopedic devices market report on the basis of application, product, and region:

  • Application Outlook (Revenue, USD Million, 2014 - 2024)

    • Hip

    • Knee

    • Spine

    • Craniomaxillofacial

    • Dental

    • Sports Injuries, Extremities, and Trauma (SET)

  • Product Outlook (Revenue, USD Million, 2014 - 2024)

    • Surgical Devices

      • Drill Guide

      • Guide Tubes

      • Implant Holder

      • Custom Clamps

      • Distracters

      • Screw Drivers

      • Others

    • Accessories

      • Braces

      • Consumables

      • Others

  • Regional Outlook (Revenue, USD Million, 2014 - 2024)

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

Key questions answered by the report
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