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Orthopedic case volumes that returned to pre-pandemic norms and increased M&A activity throughout 2023 indicate positive growth in the orthopedic market, which could pass $70 billion in annual sales in three years according to ORTHOWORLD estimates.
Hip and knee replacement volumes grew last year 5.6% and 8.1%, respectively, offering orthopedic companies ample opportunities to target the segment for R&D investments and added revenue opportunities.
Enabling technology and the clinical data the platforms capture allow surgeons to perform more exact surgeries and contribute to the growing interest in personalized patient care.
Procedures continue to move out of inpatient hospitals and into outpatient facilities with shoulder replacements representing the latest significant shift. ASCs will continue to be the indicators of innovation in cost-effective and highly efficient surgical care.
Improved implant designs, advancements in biologics and the emergence of motion-preserving technology are redefining what’s possible in spine surgery.
The foot and ankle segment is largely untapped. Bunion surgery remains underserved and reportedly represents a $5 billion market opportunity for companies that dedicate resources to creating minimally invasive treatment options.
These are just a few of the developments that indicate exciting times ahead in orthopedics and indicate the growth trends to track over the next year.
