JOHNSON & JOHNSON (US) and STRYKER CORPORATION (US) are Leading Players in the Orthopedic Devices Market
Some of the factors accelerating the growth of markets includes; a global increase in the prevalence of orthopedic diseases & disorders, rising number of sports & accident related orthopedic injuries, increasing funding initiatives to boost the new orthopedic devices awareness, rapid rise in the geriatric patient pool, and rising collaborations & partnerships amount player. Moreover, emergence of new orthobiologics and growing adoption of robotic technology in orthopedic surgery is likely to offer great opportunities for orthopedic device manufactures.
However, orthopedic surgical procedures are costly which is likely to reduce its uptake in many lower economic regions. Also, the potential risk and complications associated with the orthopedic surgeries are likely hamper the growth of the market.
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Some of the prominent players operating in the Orthopedic devices market are Stryker Corporation (US), Johnson & Johnson (US), Smith & Nephew (UK), Medtronic plc (Ireland), and Zimmer Biomet (US). Other prominent players in this market include B. Braun (Germany), Enovis (US), NuVasive (US), Acumed LLC (US), BSN Medical (Germany), CONMED Corporation (US), Orthofix Medical Inc. (US), Arthrex (US), Allegra Orthopaedics (Australia), DeRoyal Industries (US), MicroPort (China), Nippon Sigmax Co., Ltd. (Japan), TriMed Inc. (US), Altis Biologics (South Africa), Isto Biologics (US), ITS (Austria), Meril Life Sciences Pvt. Ltd. (India), Mueller Sports Medicine, Inc. (US), RCH Orthopaedics (India), and FLA Orthopedics (US).
The analysis of market developments between 2019 and 2023 revealed that several growth strategies such as, research collaborations and partnerships, were adopted by market players to strengthen their product portfolios and maintain a competitive position in the Orthopedic devices market.
JOHNSON & JOHNSON (US)
With a robust product portfolio, Jonson & Johnson holds a strong position in the orthopedic devices market. It has a broad range of orthopedic products and services for joint reconstruction, trauma, spine, and sports medicine. The company is engaged in developing and manufacturing new products to expand its product offerings in the orthopedic devices market. The company’s marketing and sales strategies are focused on the rapid and cost-effective delivery of high-quality products to end users worldwide.
STRYKER CORPORATION (US)
Stryker Corporation is among the leading players in the orthopedic devices market. The company has a strong brand presence in more than 70 countries worldwide. The company has a strong product portfolio; new products have helped it gain a sizable market share. Stryker strongly emphasizes on inorganic growth strategies, such as collaborations and acquisitions, to enhance its product portfolio and expand its geographical presence. The company’s extensive research & development activities have enabled it to introduce innovative orthopedic devices in the orthopedic devices market.
Related Reports:
Orthopedic Devices Market by Product (Fixation, Replacement Devices {knee, Hip, Shoulder}, Braces, Spinal Implants, Arthroscopy, Orthobiolgics), Application (Fracture Treatment, Osteoarthritis), End User (Hospital, ASCs)- Global Forecast to 2028
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