$12.3bn
$XXX.Xm
22,246
473
$X.Xbn
Orthopedic care has quickly become one of the largest healthcare spending categories in the US. An aging population's growing incidence of musculoskeletal conditions is behind higher spending, with rising rates of sports injuries also supporting the field's growth. In recent years, increasing access to health care and per capita disposable income has enabled more people to afford orthopedic products sold at retailers and access orthopedic medical procedures, boosting demand for orthopedic products. Yet, strengthening demand for orthopedic product production hasn't translated into revenue growth for manufacturers. Pandemic disruptions, supply chain snags, inflation and fluctuating currency exchange rates have made it challenging for domestic manufacturers to manage costs and navigate pricing pressures. These financial and operational headwinds have strained growth, leading industry-wide revenue to decline at a CAGR of 0.8% to an estimated $12.3 billion over the past five years, including an expected slowdown of 4.2% in 2024.
Industry revenue has declined at a CAGR of 0.8 % over the past five years, to reach an estimated $12.3bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Stryker Corp | 2,923.2 | 324.0 | 11.1 | |
Zimmer Biomet Holdings, Inc. | 2,422.4 | -18.0 | -0.7 | |
Johnson & Johnson | 1,988.7 | 252.1 | 12.7 |
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Industry revenue is measured across several distinct product and services lines, including Joint replacement, Spine and Trauma. Joint replacement is the largest segment of the Orthopedic Products Manufacturing in the US.
The aging population drives demand for joint replacements
Orthopedic product manufacturers design, produce and distribute medical devices and equipment specifically designed to diagnose, treat or support musculoskeletal conditions and injuries. These manufacturers create a wide range of products, like joint implants, bone plates, braces, prosthetics and rehabilitation equipment, to address the needs of orthopedic surgeons, healthcare providers and patients.
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NAICS 33911 - Orthopedic Products Manufacturing in the US
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The industry is growing in part because of shifting demographics and health conditions. The aging population and the increasing prevalence of conditions like osteoarthritis a...
Learn about an industry's products and services, markets and trends in international trade.
Joint replacements represent the largest product segment. The aging population and the increasing incidence of joint-related conditions have benefited this segment.
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Many orthopedic product manufacturers are located in the Southeast region. This is because of the presence of a well-developed healthcare infrastructure and a strong market f...
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The industry is characterized by intense price competition and brand differentiation. Companies must strike a delicate balance between pricing their products competitively an...
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The industry is dominated by a few major companies. These companies have strong research and development capabilities, as well as large marketing and distribution networks.
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Regulatory changes can have a significant impact on the industry. Changes in regulatory requirements can impact the approval process for new products and increase the focus o...
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Wages have declined as a share of industry revenue. Rising manufacturing automation has reduced demand for less specialized labor over the past two decades.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Orthopedic Products Manufacturing in the US industry in United States is $12.3bn in 2024.
There are 473 businesses in the Orthopedic Products Manufacturing in the US industry in United States, which has declined at a CAGR of 0.3 % between 2019 and 2024.
The market size of the Orthopedic Products Manufacturing in the US industry in United States has been declining at a CAGR of 0.8 % between 2019 and 2024.
Over the next five years, the Orthopedic Products Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Orthopedic Products Manufacturing market in United States are Stryker Corp, Zimmer Biomet Holdings, Inc. and Johnson & Johnson
Manufacturing joint implants and Manufacturing orthopedic devices for spinal conditions are part of the Orthopedic Products Manufacturing in the US industry.
The company holding the most market share in United States is Stryker Corp.
The level of competition is high and steady in the Orthopedic Products Manufacturing in the US industry in United States.