Orthopedic Devices Market Size, By Product (Joint Reconstruction Devices {Hip Replacement, Knee Replacement, Ankle Replacement, Shoulder Replacement}, Spinal Devices, Trauma Fixation Devices, Ortho biologics, Arthroscopic Devices), Industry Analysis Repor

Orthopedic Devices Market Size, By Product (Joint Reconstruction Devices {Hip Replacement, Knee Replacement, Ankle Replacement, Shoulder Replacement}, Spinal Devices, Trauma Fixation Devices, Ortho biologics, Arthroscopic Devices), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 - 2032


Orthopedic Devices Market is estimated to showcase massive growth between 2023-2032, owing to the rising prevalence of orthopedic disorders linked with the knee, ankle, and shoulder. The ageing population is more prone to be impacted by orthopedic disorders owing to the weakening of bones.

In addition, the rising prevalence of osteoarthritis in the elderly population within the age range of 65 and above has further stimulated the demand for orthopedic devices. The cases of falls and fractures in the elderly population are constantly rising across the world, which has escalated the demand for technological modernizations in orthopedic surgical procedures, thereby stimulating the industry growth.

Key players operating in the orthopedic devices industry are engaging in partnerships, mergers, and acquisitions and launching new products to stay competitive in the market. For instance, Alphatec Holdings, Inc., recently announced the acquisition of EOS imaging, SA, under a transaction deal worth $88 million, plus debt retirement of $33.9 million, in a combination of cash and equity. The deal is anticipated to create significant cross-selling and pull-through opportunities through an expanded sales network and combined clientele.

Besides, ongoing technological innovations in the orthopedic device industry will further transform the market outlook by 2032. To cite an instance, Arthrex, one of the leaders in minimally invasive surgical technology, announced receiving an FDA approval for its ACL TightRope implant for pediatric indications. The TightRope implant will be used during the surgical orthopedic treatments and is the only fixation device for ACL (anterior cruciate ligament) injuries cleared for pediatric use.

Overall, the orthopedic devices market is segmented in terms of product and region.

Considering the product, the trauma fixation devices segment held over USD 8.2 billion market share in 2022 and is anticipated to grow substantially through the coming years. The growth can be attributed to the mounting device use for fixing and stabilizing severe bone dislocations. The rising cases of orthopedic disorders, road accidents, and the surging geriatric population base will be the key factors stimulating the market expansion. In addition, the surging number of road accidents and injuries will act as a high-impact rendering factor for augmenting the demand for trauma fixation devices.

Regionally, the North America orthopedic devices market held over 56% revenue share in 2022 and is slated to grow exponentially owing to the rising prevalence of chronic diseases and the favorable regulatory scenario in the region. Rising healthcare expenditures and technological advancements across the North American economies would further augment the market growth in the region. In addition, the increased number of orthopedic surgeries, well-developed healthcare infrastructure, and surging cases of amputations and road accidents in the United States is anticipated to spur the product demand in the continent.