Orthopedics is the medical specialty that focuses upon injuries and diseases of body's musculoskeletal system. Orthopedic surgeons diagnose, care and treat disorders of the bones, joints, muscles, ligaments, tendons, nerves, and skin. As per the current estimates by United States Bone and Joint Initiative, the overall prevalence of osteoporosis in the US adults aged 50 and over was 11% or roughly 12 million adults comprising of either the femoral neck or lumbar spine T-score. The prevalence was significantly higher in women (16.5%) than men (5.1%). The overall prevalence of low bone mass was 44.5%, representing ~45 million adults. The prevalence of low bone mass was higher in women (52.6%) than in men (35.6%).

Market Dynamics

Prevalence of musculoskeletal diseases drives the global orthopedics market

Musculoskeletal diseases affect one out of every two persons in the US aged 18 years and over, by nearly three out of four aged 65 years and over as per the estimates released by the United States Bone and Joint Initiative. Trauma, back pain, and arthritis are the three most common musculoskeletal conditions reported at hospitals. With ever growing US population, musculoskeletal diseases are becoming a great burden every year in the US. According to the statistics released by the United States Bone and Joint Initiative, nearly in any given year, 12% to 14% of the adult population will visit their physician for back pain. Musculoskeletal diseases account for more than 50% of disabling health conditions reported by adults,124 million people in aged 18 and over, reported suffering a musculoskeletal disease in 2015. Nearly 364 million work days lost due to musculoskeletal conditions, and an average of 10 days per worker - more than any other major health condition in 2015.

Funding has 100% gains in fostering the growth of orthopedics market globally

The Global Burden of Disease has identified low back pain, neck pain, and other musculoskeletal conditions as top three leading disorders over the years for the patients suffering. Currently, in the US more than 78% of the persons aged 18 years and older reported suffering from musculoskeletal disorders. The National Institute of Arthritis and Musculoskeletal and Skin Diseases (NIAMS) have offered an appropriate budget for musculoskeletal disorder research. In fact, the funding share for 2016 was 1.68% of the total NIH budget. Additionally, research related to injuries represented half of the musculoskeletal condition holding US$ 4 Bn for the years 2012 to 2016. Funding for the arthritis research holds second position constituting around US$ 1.4 Bn, followed by osteoporosis i.e. US$ 965 Mn.

Segmental Overview

The orthopedics market is segmented based on treatment, product type, and end-user. By treatment, the market is segmented as non-surgical treatment and surgical treatment. Further, by product type, the market is segregated as joint reconstruction devices, spinal devices, trauma devices, arthroscopy devices, orthobiologic devices, and others. Joint reconstruction devices are further segmented as knee, hip, and extremities. By spinal devices, the market is bifurcated as spinal fusion devices and spinal non-fusion devices. Furthermore, end-user is segmented as hospitals, ambulatory surgical centers, orthopedic clinics, among others.

Based on product type, joint reconstruction segment holds dominant market share from the past and will continue its trend in the forthcoming years. Rising prevalence of osteoarthritis and rheumatoid arthritis worldwide coupled with technological advancement in orthopedic joint reconstruction sector enhances the treatment options. This is one of the prominent factors that constitute the growth of the overall segment for global orthopedics market. According to the Center for Disease Control and Prevention (CDC), osteoarthritis affects over 32.5 million US adults every year. Additionally, CDC reveals that from 2013-2015, an estimated 54.4 million US adults (22.7%) annually suffer from rheumatoid arthritis. Moreover, it is estimated that by 2040, 78 million (26%) US adults aged 18 years or older are projected to be diagnosed with rheumatoid arthritis. Such factors bolster demand for the joint reconstruction segment ultimately contributing the growth of global orthopedics market.

Based on treatment, surgical treatment holds dominating share for the global orthopedics market. As per the estimates reveled by the Health Quality & Safety Commission New Zealand, district health boards (DHBs) performed 2,761 hip and knee arthroplasty procedures as compared to 2,965 in April to June 2017. Moreover, Royal Brisbane and Women's Hospital represents orthopedics surgery for more than 300,000 patients every year that represents one of the largest public hospitals for orthopedic departments in Queensland. Furthermore, based on end-user, hospital segment will continue to dominate the global orthopedics market in the forthcoming years as large patient population suffering from orthopedic injuries are majorly treated in hospitals. Apart from the treatment, adequate reimbursement policies offered by the hospitals acts as a prominent factor responsible for the higher proportion of patients being treated in hospitals.  

Regional Overview

Based on the region, North America will dominate the overall orthopedics market in the forthcoming years. This is attributed to surge in number of orthopedics surgery performed every year and favorable reimbursement policies driving the orthopedics market globally. Reimbursement for all healthcare services has grabbed significant attention over the years. The "Affordable Care Act" had a strong influence intended for controlling and lowering healthcare costs. As per the reports revealed by the American Speech-Language-Hearing Association, the US spends far more on healthcare as compared to any other country. In 2015, approx. 17.1% of the gross domestic product (GDP) was spent on healthcare services. Additionally, one of the important factors that drive the North America regional market for orthopedics is the insurance industry.  

On the other hand, Europe is considered as the second largest market for orthopedics. This is highly supported due to rising number of orthopedics surgeries, surge in awareness towards technologically advanced orthopedics devices, and increasing healthcare expenditures by the population pool. Asia-Pacific is predicted to provide lucrative opportunities for the market to grow rapidly for orthopedics in the coming years. Rising purchasing power of the emerging economies that comprise China and India acts positively on the global orthopedics market to grow.

Competitive Landscape

The major companies profiled in the global orthopedics market involve Johnson & Johnson Services, Inc., Zimmer Biomet, Stryker, Medtronic, Smith & Nephew, Wright Medical Group N.V., CONMED Corporation., Arthrex, Inc., Globus Medical, and among others.

Market Segmentation

Market By Treatment

Non-Surgical Treatment 
Surgical Treatment 

Market By Product Type

Joint Reconstruction Devices
•    Knee
•    Hip
•    Extremities
Spinal Devices
•    Spinal Fusion Devices 
•    Spinal Non-Fusion Devices
Trauma Devices
Arthroscopy Devices 
Orthobiologic Devices
Others

Market By End-User

Hospitals
Ambulatory Surgical Centers 
Orthopedic Clinics
Others

Market By Geography

North America
•    U.S.
•    Canada

Europe
•    U.K.
•    Germany
•    France
•    Spain
•    Rest of Europe

Asia-Pacific
•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Rest of Asia-Pacific

Latin America
•    Brazil 
•    Mexico
•    Rest of Latin America

Middle East & Africa
•    GCC
•    South Africa
•    Rest of Middle East & Africa