Global Orthopedics Industry Approached $30B in 2010

The global orthopedics industry has an annual growth rate of about 5% to 7% and approached $30 billion in 2010.

The global orthopedics industry has an annual growth rate of about 5% to 7% and approached $30 billion in 2010. Growth is driven by technological advancements in implant design and materials, which are resulting in improved durability and younger patients undergoing surgery. One of the fastest-growing areas within the global orthopedics market is extremity hardware devices that replace or reconstruct joints and bones in the foot, ankle, hand, wrist, elbow and shoulder.

Key segments driving sales growth and attracting investor interest in the global orthopedic device sector include artificial joints, spinal implants and orthobiologics. The joint reconstruction market will remain the largest orthopedic implant category and is expected to reach $22.9 billion by 2016. The global orthopedic implants market is expected to top $41 billion by 2016.