Delray Beach, FL, May 16, 2025 (GLOBE NEWSWIRE) — The global orthopedic devices market , valued at US$49.63 billion in 2023, is forecasted to grow at a robust CAGR of 4.8%, reaching US$51.61 billion in 2024 and an impressive US$68.51 billion by 2030. The primary driver of the market is the increasing prevalence of orthopedic disorders, especially in the geriatric population. The growth is also propelled by efforts by the market leaders in terms of new product launches for orthopedic devices. Demand for orthopedic implants is also increasing, supported by an increase in the number of surgery centers and hospitals, along with an increase in the accessibility of healthcare in emerging economies.
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By Based on the site, the global orthopedic devices market is segmented, the orthopedic devices market is divided into hand and wrist, spine, foot and ankle, arms and elbow, knee and thigh, hip and pelvis, shoulder, and craniomaxillofacial. The foot & ankle segment to register significant growth over the forecast period. The growing incidence of ankle injuries, increasing incidence of osteoarthritis, rising awareness about the advantages associated with ankle replacement surgeries, and the presence of advanced ankle prosthetic implants are likely to drive the growth of this market segment in the coming years.
By application, the global orthopedic devices market is segmented into spinal fusion, fixation, and decompression, fracture treatment and recovery, rheumatoid arthritis and osteoarthritis, ligament injuries, diabetic foot diseases, and neurological disorders. According to the CDC, in the US, around 319,000 older people (aged 65 and over) are hospitalized owing to hip fractures. Fixation devices are attached to the fractured bones, preventing movement and providing a shield to the fractured bone, allowing it to heal. Orthobiologics are becoming an integral part of orthopedic surgical procedures as they aid in the rapid healing. Thus, the rising prevalence of rheumatoid arthritis and osteoarthritis cases and increasing geriatric population is anticipated to boost the adoption of orthopedic devices.
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