Orthopedic Devices Market Size to Hit USD 96.43 Bn by 2034

The global orthopedic devices market size was valued at USD 65.79 billion in 2024, and it is expected to hit around USD 96.43 billion by 2034 with a CAGR of 4.34%.

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Market Key insights

• North America led the global market in 2024, holding the largest market share of 46%.
• The Asia Pacific region is expected to experience the highest CAGR from 2025 to 2034.
• Among applications, the knee orthopedic devices segment accounted for the largest market share in 2024.
• The surgical devices segment emerged as the top product category in 2024, capturing the biggest market share.

AI’s Role in the Orthopedic Devices Market

AI is reshaping the orthopedic devices market by improving surgical precision, patient monitoring, and predictive analytics. Smart implants embedded with AI enhance post-surgical recovery by tracking real-time data, while AI-based imaging solutions provide more accurate diagnostics. These advancements are making orthopedic treatments more efficient, reducing complications, and increasing accessibility to high-quality care.

Market Dynamics

Market Drivers
The orthopedic devices market is driven by the rising prevalence of musculoskeletal disorders, increasing geriatric population, and advancements in medical technology. Growing awareness about minimally invasive surgeries and improved healthcare infrastructure are further fueling market growth.

Opportunities
Expanding healthcare facilities in emerging economies, technological innovations such as 3D printing, and the rising demand for personalized implants present significant growth opportunities. Increased investments in research and development also support market expansion.

Challenges
High costs associated with orthopedic implants and procedures, along with stringent regulatory requirements, pose major challenges. Additionally, the risk of implant failures and post-surgical complications can hinder market adoption.

Regional Insights
North America holds a dominant share due to advanced healthcare infrastructure and high adoption of orthopedic procedures. Europe follows closely with strong government support, while Asia-Pacific is expected to witness rapid growth driven by an aging population and improved healthcare access.

Orthopedic Devices Market Companies

• Medacta
• DePuySynthes
• Smith & Nephew
• Stryker
• Medtronic
• Zimmer Biomet
• MicroPort Scientific Corporation (Wright Medical Group)
• DJO Global
• ConforMIS
• NuVasive
• Globus Medical

Latest Announcement by Industry Leader

• In November 2024, Auxein showcased its latest innovations in orthopedic products at MEDICA 2024, which took place from November 11 to 14 in Düsseldorf, Germany. A range of innovative orthopedic products introduced by the company include Reusable Suture Passer, Ligament Augmentation Repair Instrument Set, Knee Escorpian Suture Passer, and many more, which received an overwhelming response from thousands of industry professionals, experts, and healthcare providers. Mr. Rahul Luthra, Vice President of Global Sales & Marketing at Auxein, said that the overwhelming interest in these products is a testament to the global recognition of Auxein’s commitment to advancing orthopedic products.

Recent Developments

• In June 2024, Meril launched a surgical robotic technology, MISSO, which will provide assistance to doctors during knee replacement surgeries in real-time.

Segments Covered in the Report

By Product Type

• Joint Reconstruction
  • Knee Replacement
    • Revision Knee Replacement Implants
    • Total Knee Replacement Implant
    • Partial Knee Replacement Implant
  • Elbow & Shoulder Replacement
  • Hip Replacement
    • Hip Resurfacing Implant
    • Total Hip Replacement Implant
    • Partial Hip Replacement Implant
    • Revision Hip Replacement Implant
  • Others
• Orthopedic Prosthetics
  • Upper Extremity Orthopedic Prosthetics
  • Lower Extremity Orthopedic Prosthetics
• Spinal Devices
  • Spinal Non-fusion Devices
  • Spinal Fusion Devices
• Trauma Fixation
  • Nails and Rods
  • Metal Plates & Screws
  • Pins/Wires
  • Others
• Arthroscopy Devices
• Orthopedic Accessories
  • Removal systems
  • Bone cement
  • Casting system
• Orthopedic Braces and Supports
  • Upper Extremity Braces and Supports
  • Low Extremity Braces and Supports
• Others

By End-user

• Ambulatory Surgical Centers
• Hospitals
• Orthopedic Clinics
• Others

By Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Middle East & Africa
• Latin America

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