Orthopedic Devices Market – Analysis and Forecast 2032
Global Orthopedic Devices Market Size, Share & Growth Analysis Report, 2024-2032

Orthopedic Devices Market Size, Share & Trends Analysis Report By Application (Hip, Knee, Spine, Cranio-Maxillofacial, Dental, SET), By Product (Accessories, Surgical Devices), By Region, And Segment Forecasts, 2024 - 2032

  • Published Date:Jan-2024
  • Pages: 117
  • Format: PDF
  • Report ID: PM3263
  • Base Year: 2023
  • Historical Data: 2019-2022

Report Outlook

The market for orthopedic devices was valued at USD 38.97 billion in 2023, it is anticipated to rise at a CAGR of 4.47%. The high prevalence of orthopedic diseases, such as degenerative bone disease, as well as the ageing population's growth and the increase in traffic accidents are all factors contributing to the market's expansion. Additionally, the market is expected to expand as a result of the early onset of musculoskeletal disorders, which are mainly brought on by obesity and a sedentary lifestyle. Around 1.71 billion people worldwide suffer from musculoskeletal conditions, according to statistics from the Global Burden of Disease report from 2021. Therefore, from 2022 to 2030, a rise in musculoskeletal disorders is expected to drive the market.

Orthopedic Devices Market Size

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Due to a dearth of effective surgical tools, current trauma management methods cannot fully restore body parts. Therefore, producers are making significant R&D investments in order to create novel and effective devices. It is anticipated that this rise in R&D activities will guarantee rapid market growth in the near future. The market is anticipated to grow even more as a result of technological advancements and a rise in the prevalence of other bone-related disorders. One of the main things that can trigger arthritis is obesity. Studies published in the BMJ Journal in 2020 showed that compared to people of normal weight, being overweight or obese increased the chance of knee osteoarthritis (OA) by 2.5 to 4.6 times.

Hospitals are being compelled to upgrade their equipment and services on a constant basis due to growing public awareness of the availability of cutting-edge goods. The adoption of orthopedic surgeries has also been driven by reimbursement covering for orthopedic treatments. These elements enable clients to select more expensive and sophisticated treatment choices, increasing overall revenue.

The cost of more traditional orthopedic devices is expected to drop significantly with the introduction of more modern ones. In Asia Pacific and the Middle East, developing countries with limited access to medical reimbursement, this encourages greater adoption of the latter. In the near future, it is anticipated that the combined impact of these actions will increase procedural volume and market growth.

The COVID-19 pandemic had a negative effect on the market because elective procedures were postponed, there was little demand, and there were minimal sales. Businesses also encountered operational difficulties as a result of supply chain interruptions, company closures, travel limitations, employee quarantines or illnesses, stay-at-home policies, and other prolonged interruptions. For example, several public health organizations in the United States suggested delaying elective procedures to avoid the spread of illness and to accommodate the demand for treating COVID-19 patients.

Several regulatory organizations issued guidelines to help securely resume elective surgeries as the incidence of COVID-19 has decreased. The American Hospital Association, American College of Surgeons, American Society of Anesthesiologists (ASA), and Association of Perioperative Registered Nurse are a few organizations that have issued recommendations in this regard. The target population is expected to grow, elective surgeries will resume, and there will be a backlog of scheduled surgeries, so a gradual market recovery is predicted over the next few years.

Orthopedic Devices Market

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Industry Dynamics

Growth Drivers
Osteoarthritis, rheumatoid arthritis, osteoporotic fractures, and carpal tunnel syndrome are just a few of the orthopedic illnesses and disorders that are increasingly being treated clinically with orthopedic devices. The demand for and uptake of orthopedic treatment goods among key end users has been fueled by the sharp increase in the burden of orthopedic diseases around the world. The CDC estimates that 54 million people in the US are affected by arthritis.

Report Segmentation

The market is primarily segmented based on application, product type and region.

By Application

By Product

By Region

  • Hip
  • Knee
  • Spine
  • Cranio-Maxillofacial (CMF)
  • Dental
  • Accessories
  • Surgical Devices
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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In 2022, the knee equipment segment has dominated the market, accounting for the largest market share.

The orthopedic devices market shares that the knee orthopedic equipment category owned in 2022. Due to the increasing number of knee surgeries, this market is expected to continue to dominate from 2023 to 2032. However, high costs and extended follow-up times are two significant barriers to segment development. Furthermore, the approval of class III medical devices is being slowed down by strict regulation requirements.

The fastest CAGR is anticipated to occur in the Sports medical, Extremities & Trauma (SET) sector between 2023 and 2032. The market for orthopedic devices in foot and ankle applications is expected to increase due to an increase in sports and auto accident injuries and increased public awareness of the range of available treatments.

The accessories segment will account for a higher share of the market during forecast period

The market is divided into surgical devices and accessories based on the goods. From 2023 to 2032, the accessories market is anticipated to grow at the highest CAGR. Products like braces, arthroscopy devices, and other consumables are included in the accessories section. Other items like fasteners, plaster supplies, and sutures are also included in this section. Drill guides, special clamps, guide tubes, screwdrivers, and distracters are some additional subcategories of the surgical instrument market.

Soon, it is expected that improvements to these tools and devices will further fuel demand. In the years between 2023 and 2032, market development is anticipated to be further fueled by advancements in surgical implant technologies and implant product types. Due to the rapid pace of innovation and upgrades, it is expected that lower prices for older models will open up significant business possibilities in emerging economies.

The demand in North America is expected to witness significant growth during projected timeframe

The North America dominated the international market for orthopedic devices. The presence of industry titans, a well-developed healthcare infrastructure, and reimbursement coverage are anticipated to fuel the regional market's high demand for advanced healthcare services. The target patient population is continuously growing as a result of ageing and an increase in traffic accidents, which is further boosting the number of orthopedic operations performed in the area. The high incidence of orthopedic conditions and widespread use of cutting-edge treatment methods are expected to drive market expansion in the United States.

From 2023 to 2032, Asia Pacific is anticipated to have the quickest CAGR. The biggest geriatric population pools in the world are anticipated to be in China and India. Therefore, it is anticipated that these nations' demand will increase considerably soon. In addition, the expanding medical tourism sector is anticipated to draw more patients from the target patient community due to the affordable availability of cutting-edge medical treatments.

Competitive Insight

Some of the major players operating in the global orthopedic devices market include Medtronic PLC; Stryker Corporation; Zimmer-Biomet Holdings, Inc.; DePuy Synthes; Smith and Nephew PLC; Aesculap Implant Systems, LLC; Conmed Corporation; Donjoy, Inc.; NuVasive, Inc.

Recent Developments

  • The Inlet System, which offers extensive plating and fixation choices for applications on the upper and lower extremities, was introduced by Intelivation Technologies in November 2022. Solutions for hand plating, distal radius, cannulated screws with sizes varying from 2.3-6 millimetres and various lengths, clavicle, ulnar, calcaneal, foot, and distal tibia and fibula plates are all included in the Inlet System.

Orthopedic Devices Market Report Scope

Report Attributes


Market size value in 2024

USD 40.12 billion

Revenue forecast in 2032

USD 57.76 billion


4.47% from 2024 - 2032

Base year


Historical data

2019 - 2022

Forecast period

2024- 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments covered

By Application, By Product Type, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key companies

Medtronic PLC; Stryker Corporation; Zimmer-Biomet Holdings, Inc.; DePuy Synthes; Smith and Nephew PLC; Aesculap Implant Systems, LLC; Conmed Corporation; Donjoy, Inc.; NuVasive, Inc.


The global orthopedic devices market size is expected to reach USD 57.76 billion by 2032.

Key players in the orthopedic devices market are Medtronic PLC; Stryker Corporation; Zimmer-Biomet Holdings, Inc.; DePuy Synthes; Smith and Nephew PLC; Aesculap Implant Systems, LLC.

North America contribute notably towards the global orthopedic devices market.

The orthopedic devices market anticipated to rise at a CAGR of 4.47%.

The orthopedic devices market report covering key segments are application, product type and region.