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Global Orthopedic Market Revenue to Exceed $61 Billion in 2023
CHAGRIN FALLS, Ohio, June 4, 2019 /PRNewswire/ -- The 2019 installment of the annually produced ORTHOPAEDIC INDUSTRY ANNUAL REPORT® is available now and projects that the global orthopedic market will realize 4% YOY growth over the next five years, reaching $61.2 billion in 2023 revenue.
Market leaders DePuy Synthes, Zimmer Biomet, Stryker, Smith & Nephew, Medtronic, Arthrex and NuVasive currently control 65% of the market, according to the report, with smaller companies continuing to gain share. All told, 1,012 companies are mentioned, and revenue estimates are provided for companies with sales over $100 million.
"In writing this report, we wanted to answer some of the questions we're asked most often:
- What is the market share of the top companies?
- What is the revenue of the next tier of orthopedic companies, both public and private?
- What new companies entered the U.S. market?
- Where can I find a list of companies that play in my market?"
commented Carolyn LaWell, Chief Content Officer at ORTHOWORLD® Inc., the company that owns and authors the report. "Device companies, suppliers, consultants and analysts are regular readers of the report, and they tell us that they use the information contained within it to
- identify acquisition targets and new customers,
- improve sales forecasts and business plans, and
- refine competitive analysis and customer dossiers."
Interested parties are encouraged to visit ORTHOWORLD.com to read the full report.
ORTHOWORLD is a customer-centric media company exclusively serving the global orthopedic market. Its singular mission is helping device companies, suppliers, service providers and individuals improve their performance through timely and relevant business intelligence, product commercialization guidance, comprehensive marketing solutions and educational conferences.
SOURCE ORTHOWORLD, Inc.